£170 profit made this month

In the last few weeks my profit levels have been higher than ever. They’re modest profit figures, certainly not at the levels of professional traders (or even some amatuers) but in a world where the majority of Spreadbettors lose money on a monthly basis, i’ve had a good money making month. Here’s the profit graph.

It all started off when I stopped adding trades. Instead, deciding to allow my current trades to settle down and start to move along with their trends along which I am betting with. For example, most of my trades have been trending either long or short for many months sometimes even years. I’ll jump on and ride that trend, betting in the same direction of the trend, in the hope it continues.

Despite reaching a running profit/loss of £-300 in June, July has brought in £180 or so leaving me with a £-120 deficit. Taking me ever closer to overall profitability.

I opened a couple of new trades this month. A 20 second trade on the DAX where I made a fast £12 and yesterday I opened a trade in Southern Co. This trade has been trending long for many years and with a nice wide stop on this of 240 points I am sitting long hoping the trend will continue. As I have £1250 of my capital available I have comitted a little over 10% on this one at £120. (240 stop loss points / £0.50p per point = £120 total risk)

10% is a little over what I would usually commit, and many spreadtraders have told me that 10% is too high. In fact I was told 6% per trade was way too high. However, that’s all good if you have £10,000 capital. However, i’m trading with a far less amount and therefore have to take a bit more risk to make anything substantial.
So far it’s been a good decision moving up 9 points since I opened my position on it. a £4.50 profit so far.
My biggest earner so far is my shorting position on EUR/GBP. 220.3 points made since my entry on 21st June 2012.
A couple of trades closed out this month. Chiquita Brands closed at -£27.00 loss and ITV closed as -£26.00 loss.

Hopefully my current held trades will continue to follow their trends next month and i’ll continue this drive into profitability.


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