Monday, 30 April 2007

The Big Picture

Daily P/L: £59.20
Monthly P/L: £622.07

Ah well, it had to come - my first losing day in April decided to appear on the last day of the month. It was all my own fault as I dabbled in the horse racing markets and got stung several times. I acknowledged this risk before getting involved and will look at it as an 'investment in education'. At least I'm fully aware that I haven't got a clue when it comes to trading horse racing and soccer. Strangely enough, I feel I'd fair better if I punted on these markets instead but this isn't in my immediate strategy so I'll leave them well alone.

So another month ends and I've made a 34% growth during April. I'm happy with this but as I paid for my new LCD TV out of these funds my trading bank for May will only be gradually bigger as I'm also trying to limit my maximum liability on any one trade. When I started trading in September I was using up to 40% of my bank but I'm pleased to say I've now been able to reduce this exposure to 24%. This is still too high though and ideally I want to be able to get it down to just 10%. Hopefully by the end of the year I'll be near this mark.

So what have the first 4 months of 2007 provided? In all honesty, it's been great. I've traded on 46 days with 42 being profitable and with 4 ending in a loss. This statistic is the secret to me hitting the magic 30% growth per month. My thoughts are that any profit is better than no profit and even though it hasn't always been plain sailing I need to keep this in mind if I'm to keep things moving forward. Nobody said this was going to be easy but I love a challenge.

The next 3-4 months are a big test and the question now is can I make the Summer pay?

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