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Tuesday, 1 November 2011

Month end. The first full month trading nags.

On the 1st of each month, as any business should, I take time to review what and how much has been achieved. Many of you will know that I recently became a member of a nag trading service which, without exaggeration, has transformed my P&L. The first 10 days of using the service were in September, and they showed the promise of what could be done. A very ambitious financial target was set for October. That target was reached with a day to spare and having that day spare meant an additional day to achieve November's target, which is almost double that of October.
Many traders don't believe in setting targets, it can lead to over-trading, trading over aggressively and general chasing. Wouldn't disagree with any of that but my background is corporate and I have to have a goal to achieve. That said, my targets are for the month not for the day. If, when approaching the end of the month, the target seems overly optimistic, in order that I don't over-trade, I can re-forecast. That too comes from a corporate background.
So, the nag bank has increased by 298% since the beginning of the month. The football bank has grown by a whopping 750%. Roll on November.

Tricky night last night. Valarenga were totally off the boil, a small red after Fredrikstad went 1-2 up. The Stoke v Newcastle game did as I thought it might, going over 2.5 goals with an unpredictable scoreline. It was one of the very rare occasions when I dutched 6 scores instead of 5 - 0-0, 1-0, 0-1, 1-1, 2-1, 1-2. Took cover on 2-2 and 1-3 but, with time left in what was a dodgy game, after the 1-3, more cover was needed and only a scratch could be found. Better scratch than red, always.

Tonight's fixtures are not easy. Dortmund looks a good shout but the price is just on the high side. AC Milan should beat the boys from the tractor factory, but it's cold over there and the tie is as good as done. May dutch that one with 1-1 and 1-2. The rest will be in-play.

Whatever you trade, stay green.

2 comments:

  1. No figures req'd lamb, but how often do you withdraw, and are the percentages referred to above inclusive or exclusive of withdrawals?

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  2. The month end figures are based on the bank size at the start of the month. The individual daily increases are based on what the bank was the day before, and therefore do not correspond exactly. If that answers your question, gun...

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