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I've decided to start this blog as a diary of my trades, successes and failures.
Reason for is to realise from my own mistakes of bad trades with a view to sharpen these up, this is for all to see.
All opens and closes will not be posted in live time but instead I will disclose all trades at the end of the week and will be verified with actual screenshots.
Targets for week ahead wil be given from all target markets and shall be broken down.
Target markets are Ftse100, Dow Jones Industrial Average(DJIA) and S&P500.
Any targets not reached will have a reason attached, giving reasons for not hitting targets (this happens) and what went wrong (I make mistakes), however is no excuse.
The overall goal is to provide hope for new (and old) traders that may find it difficult to get into (or for some, get out) of bad habits in trading and hopefully provide inspiration that money can be made from the markets.
Steady and consistantly is the key.
My trading style is that of a long term view mainly using fundamentals but with a technical approach for entry and exits. Some contracts can be held for many weeks, sometimes months before realising profits and drawdowns are obviously part and parcel of the trading game.
Any one with a long term view should be able to make money simply by leaving the cash on the index over a long period of time(years), however, outside factors make it difficult for one to be truely successful due to contract expiry dates.
It is with my intention to not just beat the index gain for the year but at least look at a return 3 to 8 times higher than the average index gains against margin on account. (this will differ from spreadbetting to direct access).
Lee Shepherd
Reason for is to realise from my own mistakes of bad trades with a view to sharpen these up, this is for all to see.
All opens and closes will not be posted in live time but instead I will disclose all trades at the end of the week and will be verified with actual screenshots.
Targets for week ahead wil be given from all target markets and shall be broken down.
Target markets are Ftse100, Dow Jones Industrial Average(DJIA) and S&P500.
Any targets not reached will have a reason attached, giving reasons for not hitting targets (this happens) and what went wrong (I make mistakes), however is no excuse.
The overall goal is to provide hope for new (and old) traders that may find it difficult to get into (or for some, get out) of bad habits in trading and hopefully provide inspiration that money can be made from the markets.
Steady and consistantly is the key.
My trading style is that of a long term view mainly using fundamentals but with a technical approach for entry and exits. Some contracts can be held for many weeks, sometimes months before realising profits and drawdowns are obviously part and parcel of the trading game.
Any one with a long term view should be able to make money simply by leaving the cash on the index over a long period of time(years), however, outside factors make it difficult for one to be truely successful due to contract expiry dates.
It is with my intention to not just beat the index gain for the year but at least look at a return 3 to 8 times higher than the average index gains against margin on account. (this will differ from spreadbetting to direct access).
Lee Shepherd
11th to 17th August 2008
Market Comment:
Ftse closed at 5454 down -35 on week.
Monday and Tuesday saw closes above the 5500 level both at 5541 and 5534, however, it didn't hold onto them and preceded to close lower wednesday and never to come back upto the 5500. We have to be careful not to be suckered into any potential bear market rally so stops would have to be tight and positions small. Next week will give us a bit more confirmation as to where we are heading. At present I would still be happy to hold a light Long attitude but this could change come monday morning so lets see how Asia does and watch carefully what the ftse does on open.
Disclaimer: Calls on the market are not always correct and never will be, the markets can change from minute to minute so a post at the weekend could possibly change on open monday morning. Also, predictions on the markets are just that, they are based on a huge array of fundamental and technical analysis to give possible outcomes, this is, in it's very nature a possible outcome and as such words like 'possible','could', 'likely', 'unlikely' ect are used.
All trades are listed below for week 11-08-08 to 17-08-08.
Summary:
Markets traded are: Ftse 100 and S&P500
Targets for these markets:
Ftse Long = 50pts
Ftse Short = 60pts
S&P Long = 13pts
S&P Short = 13pts
Weekly target = 500-800pts
All targets can have a variation of 10%
Ftse x5 Long closed for +215pts (ave 43pts). Just outside of target range but nothing to worry about.
S&P x4 Long closed for +48.3pts (ave 12.07pts) Within target range.
Total for week = 9 contracts closed for +263.3pts
Missed target by a mile, also missed a couple of opportunities during the week as the ftse didn't seem to hold above 5500 area. This is where I was looking to be most aggressive. Until I have more confirmation, target will be extremely hard to judge and so a very cautious nature prevails. This happens on occassions when the market sticks within a tight range with no general direction of which we have seen of late. Until this breaks, weekly target for points will cease.
Next Week target for points will be (temporarily ceased)
Below is a screenshot for verification purposes of this week. Click on image to enlarge.
Certain details have been removed for personal and obvious security reasons.
Good Luck for next week.
Lee Shepherd
Ftse closed at 5454 down -35 on week.
Monday and Tuesday saw closes above the 5500 level both at 5541 and 5534, however, it didn't hold onto them and preceded to close lower wednesday and never to come back upto the 5500. We have to be careful not to be suckered into any potential bear market rally so stops would have to be tight and positions small. Next week will give us a bit more confirmation as to where we are heading. At present I would still be happy to hold a light Long attitude but this could change come monday morning so lets see how Asia does and watch carefully what the ftse does on open.
Disclaimer: Calls on the market are not always correct and never will be, the markets can change from minute to minute so a post at the weekend could possibly change on open monday morning. Also, predictions on the markets are just that, they are based on a huge array of fundamental and technical analysis to give possible outcomes, this is, in it's very nature a possible outcome and as such words like 'possible','could', 'likely', 'unlikely' ect are used.
All trades are listed below for week 11-08-08 to 17-08-08.
Summary:
Markets traded are: Ftse 100 and S&P500
Targets for these markets:
Ftse Long = 50pts
Ftse Short = 60pts
S&P Long = 13pts
S&P Short = 13pts
Weekly target = 500-800pts
All targets can have a variation of 10%
Ftse x5 Long closed for +215pts (ave 43pts). Just outside of target range but nothing to worry about.
S&P x4 Long closed for +48.3pts (ave 12.07pts) Within target range.
Total for week = 9 contracts closed for +263.3pts
Missed target by a mile, also missed a couple of opportunities during the week as the ftse didn't seem to hold above 5500 area. This is where I was looking to be most aggressive. Until I have more confirmation, target will be extremely hard to judge and so a very cautious nature prevails. This happens on occassions when the market sticks within a tight range with no general direction of which we have seen of late. Until this breaks, weekly target for points will cease.
Next Week target for points will be (temporarily ceased)
Below is a screenshot for verification purposes of this week. Click on image to enlarge.
Certain details have been removed for personal and obvious security reasons.
Good Luck for next week.
Lee Shepherd
Recent Blog Entries by Lee Shepherd
- A Current update 7th November 2008 (07-11-2008)
- 8th to 14th September 2008 (13-09-2008)
- 1st to 7th September 2008 (06-09-2008)
- 25th to 31st August 2008 (30-08-2008)
- 18th to 24th August 2008 (23-08-2008)
- Join Date Feb 2008
- Posts 1,488
- Blog Entries 25
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