rudy25 Feb 2011 14:13
you are me! lol
61% winners last year , 1st year of trading , equated to just above 40% cash return. to be fair i was fairly happy with that. only issue is i felt i traded too much. 95 trades in all. a lot of the losers were early in the year too. so by my reckoning youre doing ok mate.
i also use the 10% rule, in that i only ever invest 10% of my portfolios value into 1 company and i then set a 10% stop loss on that, but only when FULLY invested ie. not after tranche 1 or 2, but 10% stop when all 10% is jn.hope that makes sense?
re; tranches. i am defo an advocate of that. the closer you get go your extreme target then the more you put in. eg i had 30% (of my allowed 10% !!!lol) into yell at 10p and i will pop another 40% in when bottom found (2 up days in a row will do me) and kee 30% back as its obviuosly a very volitile one. LLOY however i'd be happy with 50% at 60p and the rest at 55p . you just gauge your risk reward based on how early you get in. the downside?, if the price turns up after only tranche 1 then you get pi$$ed off you weren't more positive! ie. XCH @49p!
my hardest lesson so far is patience, hence i'll often get in too early (Yell) and sometimes i fear missing the boat (prty!)
ps. the only platform ive found better than pro real is ig. and its free if you trade twice a month. i cant get on with the big charts site grays uses! lol