First months trading

[mark69]

I am comeing to the end of my first months real trading. Although I am still only spread betting 50p per point. So far for August I am up 133 points
Is this Good ?
Bad ?
or Indifferent ?

I would be most greatfull if some of the more exsperianced people in this community could give me the benefit of there wisdom.

Thanks

Mark 69

 

[JonnyT]

It depends on what the actual trades were.

A profit is nice but you do need to analyise the individual trades.

i.e You might have lost 300 points and then won 433

That long term might not be a viable strategy depending on other factors such as money management.

All in all, you haven't provided enough information for anyone to be really objective.

JonnyT

 

[mark69]

Ok MORE INFO

All trades were profitable and no losses

Average profit of 33.25 points per trade

4 Trades in the month

 

[ChartMan]

Slow, but VERY steady.Trading what? The DOW? Intraday? So far so good, NO losses. Trading just the evening action? If you've been sitting at the screens 8 hrs a day , 5 days a week, then that's not a lot to show for the effort put in.... An hour an evening, then not so bad.

 

[Mr. Charts]

Four trades is statistically insignificant so no conclusion whatsoever can be drawn.
Ask when you've done 50 and I will be happy to tell you ;-)
Don't misread lack of encouragement into any postings ;-)

 

[mark69]

yeah very very slow

So far my system has only been triggered 4 times on the dow

and I should think it's taken about 1½ hours so far

I have been able to control my actions and only trade when it's right by my system and NOT when I think its right. If I followed my heart I would have been down several hundred points by now.

 

[Mr. Charts]

With that attitude, you're half way there ;-)

 

[bottomdollar]

Mark,
I think that's a brilliant result.. keep it up!!!
If you can keep it this consistent then you're doing a lot better than others...

 

[ChartMan]

Agreed- halfway there- no emtional attachment to the trades. Are you thinking of refining it? 4 trades in a month is a bit thin.... What will you do for the rest of the time?

 

[spreadbet]

IMHO you have done well. Spreadbetting is no easy game to play, 50p or £50 per point makes no difference as you must have the ability to spot the moves that will beat the spread plus make you some money.


Once again well done

Cheers
spreadbet

 

[CityTrader]

Sorry spreadbet, but I disagree. Whilst I don't know Mark69's personal financial details - I have to assume that 133 point making or losing is not going to alter his wealth materially at 50p/point risk. If however he goes to betting £50 or £100 his whole psychological ( physiological?) make-up is going to change. And the accompanying change in stress levels makes people react very differently.

 

[rglenn]

50p/point is a good start without risking your home and health.

It is a good way to test your systems and strategies.

4 trades a month is ok also if he is happy with it. Personally I would want more otherwise it would almost seem like going back to the buy and hold scenario.

If after testing is system and he is happy that it works then £1/Point is the next move to increase his bank and confidence a bit more.

Remember when you have a good system it is quite easy to destroy it by trying to be too clever and mess about with the rules you set in the first place.

Keep it up and add other instruments if necessary to get more trades.

All the very best.

 

[Newtron Bomb]

Considering mark69 is in his first month of trading i think that he has made an excellent "start". He needs to continue trading the same way to be successfull as i believe consistency is the key to any trading plan.
I remember my first month thinking this is good ive made a profit but then the second month caught me short when i took my eye off the ball and although financially it wasn't my worst month it was mentally the most challenging i have had.
As Mr. Charts has said 4 trades is not enough to decide on your performance, like a race car one test lap will not tell us a lot about its performance.

Good luck with your future trading