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 tricky beast with high volatility. We are 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.
About Ferrari, I am delighted with its progress. We were well over £16K a few days ago. The recent downtrend 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 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 confidence in trading a more massive (leveraged) fund. You may not consider the size of the fund to be substantial. Leveraged we are (with the associated risk 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.