Friday 7 August 2009

A Modest Start

I should have posted this yesterday but finishing off the July summary took more time than I expected so I left it for today to do two days together. However it turned out to be one day only as I had no time to trade today due to a very late finish at work and an early start tonight.

Yesterday I managed to chip away to a small profit with no major issues other than a couple of slips when I tried to record my trading using a program I didn’t really know. It would have been interesting I guess but I wasn’t even able to save the recorded file, more homework on that I think.

Anyway I achieved a profit of £0.80 on a back traded £173.52 which makes my ROI a heady 0.46% for yesterday. This gives me a high to come down from when I can trade next ;-).

I am not sure that I will be able to trade before Tuesday next week but I will update the blog if I do. I plan to get some time down the beach this weekend if work (and weather) allows as I need to catch some sun. See, there are some advantages to living in Cornwall!

Have a good weekend all.

Cheers


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2 comments:

  1. Jack Birkhead9 August 2009 at 18:17

    Hey Andy thanks for the good luck message. I wish you good fortunes too. Looking forward to keeping track of your progress :)

    It seems like you are on a good start using small stakes, when do you intend to up your stakes? If you feel you are profiting with small stakes don't be too scared to up them. It may sound a scary prospect but unfortunately we seem to learn a hell of a lot more when a few losses creep in with bigger stakes. Discipline comes from learning from the losses that really mean something to you from a financial aspect. When a loss hurts the bank a bit the mind forces you to demand change. Think of it as an investment...investing in a continual living. You will have losses at first in which over time will dramatically reduce, but your profits will increase also. Addressing why these losses occur is where progress really starts to happen. Its all about cutting your losses down at any available opportunity, as small losses turn into larger losses very quickly. The profits will naturally come after the losses are reduced. Hope this helps.

    Jack

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  2. TraderGray10 August 2009 at 17:11

    Hi Jack

    Thanks for your observations, you've obviously spent a little time looking at my blog and progress.

    I fully understand what you say about lifting the stakes and I've had a few other comments to that effect too.

    Without doubt the prospect is scary, but also quite exciting as I feel I've reached a point that is making me seriously consider increasing stakes.

    On a personal level I have a few minor issues to iron out of my trading, which I think/hope will come soon, and then I will be raising the stakes.

    Thanks again for your comments.

    Andy

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