Here are our funds as we stand. As you can see, Ferrari, which shows share trading, is up. However, Slow Trader, which shows FX (foreign exchange) trading is down.
I am not concerned about Slow Trader’s position as the FX market is a difficult beast with great volatility. We are simply learning how to tame it.
That’s not meant to be flippant. I regularly trade the FX now with over a thousand pounds a day gain. The secret is learning how not to give it all back in small chunks. That is, improving the win loss ratio.
Our strategies are maturing and I’m confident we’ll see the FX benefits very soon.
With regard to Ferrari, I am delighted with its progress. We were well over £16K a few days ago. The recent down trend in the market hit us but that, in turn, provides buying opportunities.
Going forward, I have spoken to most of you and I get the feeling that there is no great excitement about an income fund at this stage.
Therefore, although I will still treat the fund as income, I propose that we grow the higher investors to £9,000 each and review the situation.
One reason to keep the fund lighter, and remember it is a leveraged fund, is my own confidence in trading a larger (leveraged) fund. You may not consider the size of the fund to be large. But because the fund is leveraged (and with the associated risks that imposes on me) – and if you compare what we are doing with a traditional fund – we are talking short term trading with the equivalent of over £100,000.
Having said that, I feel that as we grow in experience, I am happy to expand the trading fund.
Going forward, I will now report on the fund as early as possible at the beginning of each month.
P.S. For those who wish to trade for themselves in shares, my next blog will explain my real time share buy information via whatsApp.