Started off again with no where as much as I would like to, just because I don't have it. I have stuck £200 into account during the week and finished week at £350.00 so not a bad start, I am trying different methods by watching utube videos and from lessons I have learnt in the past, hopefully I should get better only time will tell, it would be nice to still be trading in 2 weeks or should I say have some money left to trade with.
The main things I am trying out now that are different is to trade on short spreads, try to go in and out quickly if possible and aim for a 3 to 1 gain and then pull out. I have found plotting trend lines very useful to. Like I said only time will tell if I am doing it right or if I just had a lucky week.
Saturday, 30 April 2016
Thursday, 21 April 2016
Not given up yet
Still nothing exciting happening here, in fact since my last post i did get around to saving £800 and investing it, i think it was on one of the worst days/weeks the stock market had had in years and guess what i watched my 50p transaction fall to minus £800 yes i lost the lot in one afternoon, proving i still have a long long way to go.
I still am of the thinking i need at least a grand to play with and an extra grand or 2 to keep the transactions flowing when the price of a share falls. When i lost the £800 if i had had the extra it would have kept me afloat until the share price raised again a few days later. The only thing that worries me is would it have taken all the spare money to keep me afloat as well.
I will be trying again as soon as i get another grand together or even better 2 grand to invest, after watching a Tim Sykes youtube video i do have i little more insight and things to try for next time round.
He has explained that it's best to trade when stocks are volatile also to look at stock as bouncing ball and ignore trading when ball is at end of bounce. He also suggests collecting money once you have made 3 times as much ie a 3 to 1 risk reward so if it goes from 10 cents to 35 cents a share you pull out making a 30% profit.
The only thing i am nervous about with Tims advice is that he says you should invest half your money to get a better reward, ie if you have 2 grand you invest one grand to make bigger profits, as i am struggling to make anything off 50p shares and losing £800 from them i don't see this working.
I really need to learn how to set a lower closing limit.
I still am of the thinking i need at least a grand to play with and an extra grand or 2 to keep the transactions flowing when the price of a share falls. When i lost the £800 if i had had the extra it would have kept me afloat until the share price raised again a few days later. The only thing that worries me is would it have taken all the spare money to keep me afloat as well.
I will be trying again as soon as i get another grand together or even better 2 grand to invest, after watching a Tim Sykes youtube video i do have i little more insight and things to try for next time round.
He has explained that it's best to trade when stocks are volatile also to look at stock as bouncing ball and ignore trading when ball is at end of bounce. He also suggests collecting money once you have made 3 times as much ie a 3 to 1 risk reward so if it goes from 10 cents to 35 cents a share you pull out making a 30% profit.
The only thing i am nervous about with Tims advice is that he says you should invest half your money to get a better reward, ie if you have 2 grand you invest one grand to make bigger profits, as i am struggling to make anything off 50p shares and losing £800 from them i don't see this working.
I really need to learn how to set a lower closing limit.
Subscribe to:
Comments (Atom)