A fantastic July so far

Early into my spreadbetting strategy I realised I had made quite a fundamental mistake. After pumping £1500 capital into my account I think the blood went to my head a little. I left behind my cool, calm, collected attitude and went guns blazing into opening as many accounts as I could. At one stage I had committed almost 40% of my capital into open positions on the market. Most who spreadbet will realise that’s a bad idea. If the markets suddenly go against you thats a massive amount to lose in one go.

Of course, coupled with that is the fact that I’m expecting 80% of my spreadbets to go against me. I’m hoping to control my losses and let my successful trades run on and hope those profits outweigh the losses (in a nutshell).
As a result my profit/loss graph looked a little bleak at the end of June. I was down as far as -£300. A pretty tough position to be in. At this point I decided to open no more bets, and to simply let things settle down for a while.
Those bad picks would eventually hit my controlled stop losses and i’d lose small amounts on each of them, and eventually i’ll be left with those that are profitable as these will tend to have a longer life span (as im letting them run until for as long as possible).
This has been a very wise move in hindsight as July has so far been profit, profit, profit.
Take a look at the graph. A few of my poor trades closed out and at the point of being -£300 down most of my bad picks had closed. Leaving me with the few that had potential to move on. Over 3 weeks i’ve made a profit of £165 so far.
Dare I say it “another week of this kind of activity and i’ll see actual profit on my strategy”. There, that’s it, cursed right? Probably, but who believe’s in curses these days???
To see my overall results in detail and see all my trade picks go to my RESULTS page.

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