My portfolio is still heading in the right direction, but obviously it's quite a tall order to get back above water before the end of the year.
One of my supportive blog followers has suggested to me privately that I have perhaps suffered unnecessarily from trying to keep readers amused with daily trading updates and educational material this year. Next year on the new web site I'm thinking of updating only weekly on the main events, and focusing more on getting results. And I'll leave it up to the book to describe the strategy. What do you think?
As for 'trading the news'...
Anyone reading that Mouchel has received a number of takeover offers may be tempted to jump in now. I think it's too late once the news is out, so I'm glad that I pre-traded the news by taking an exploratory punt when there was no such news on the horizon (as far as I knew). The stop order on my latest Mouchel position is now at better-than-break-even.
Disclaimer: trades posted are real, but for general education and entertainment only and are not recommendations.
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3 comments:
I have to admit I'd miss your posts if you went to once-a-week but if its for the greater good so be it!
I made a screw up with Mouchel, after it tanked I had a stop-order to buy left in place at 57 and of course with the takeover rumours obviously leaking to those in the know over the weekend the opening price was a ridiculous 73 and my spread betting company fulfilled the order there and then. Dammit!!!
On page 82 of my Position Trading book I say that I prefer to "open positions manually" and "close them automatically", and you just reminded me to emphasise why!
Price gaps are bad enough on closing trades without suffering them on opening trades too, and we don't usually have the option of guarantees on our opening trade prices.
Tell me about it, it was an experiment gone wrong on the very first trade I tried it with!
Manual trades forever now...
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