Weekly Portfolio Update 101
Welcome to another one of my blog updates. It is getting more challenging for me to find the time going through the ASX 100 stocks and to update the portfolio over the weekend. As many of you are aware I have started trading Forex on an intraday basis during the week. This for me is enough looking at charts and I like to spend the weekends with my young family.
I have decided to stop the weekend HSC updates and start posting charts of some of my Forex trades I have taken during the week. I think this blog showed that the method taught by the Home Study Course is indeed profitable. However in times of sideways moving markets it will give more entries (than in an upward trending market) that result in a loss. Personally I believe in times like this it is best to sit on the sidelines, use smaller position sizes or look for different charting techniques and shorter timeframes. The challenge here is that you will miss the point when the market starts trending up again.
I will however continue to report on the current positions in the portfolio. As I am using NinjaTrader for my intraday charting I have also decided not to renew my Market Analyst subscription and have to base my exit criteria on trendlines rather than the trendband. I have found that when it comes to intraday charts NinjaTrader is much more responsive and reliable than Market Analyst. The only downside is that it is lacking some of the Home Study Course tools like trendbands or Gann swing charts.
There are a number of stocks that I have added to the portfolio since the last update. They are ANZ, BOQ, ORI, WES and WPL. I also closed the position in TEL as it had two closes below the uptrend band. The transactions were:
17th October: Buy 472 ANZ at 21.20
17th October: Buy 1250 BOQ at 8.00
17th October: Buy 401 ORI at 24.93
17th October: Buy 313 WES at 32.00
17th October: Buy 281 WPL at 35.65
28th October: Sell 5848 TEL at 2.00 for a profit of 16%
Before I finish this post a big thank you to my readers out there for your support and your comments. As I said I will continue the blog, just in a different format.
This leaves the portfolio as follows:
| Current and Closed Positions | ||
| Investment: | 960,059.24 | |
| Current Value: | 1,026,714.91 | |
| Profit / Loss: | 66,655.67 | 6.94 % |
| Current Positions | ||
| Investment: | 120,065.12 | |
| Current Value: | 123,314.90 | |
| Profit / Loss: | 3,249.78 | 2.71 % |
| Closed Positions | ||
| Investment: | 839,994.13 | |
| Value at Close: | 903,400.01 | |
| Profit / Loss: | 63,405.88 | 7.55 % |
| Code | Qty | Buy Price | Current Price | Profit/Loss | % |
| ANZ | 472 | 21.20 | 20.70 | -236.00 | -2.36 |
| APA | 2,433 | 4.11 | 4.45 | 827.22 | 8.27 |
| ASX | 329 | 30.44 | 30.24 | -65.80 | -0.66 |
| BOQ | 1,250 | 8.00 | 8.35 | 437.50 | 4.38 |
| CPA | 10,929 | 0.92 | 0.92 | 54.65 | 0.55 |
| HVN | 4,425 | 2.26 | 2.21 | -221.25 | -2.21 |
| ORI | 401 | 24.93 | 25.70 | 308.77 | 3.09 |
| STO | 829 | 12.07 | 13.56 | 1,235.21 | 12.34 |
| TLS | 3,356 | 2.98 | 3.14 | 536.96 | 5.37 |
| WBC | 470 | 21.29 | 21.04 | -117.50 | -1.17 |
| WES | 313 | 32.00 | 33.00 | 313.00 | 3.13 |
| WPL | 281 | 35.65 | 36.28 | 177.03 | 1.77 |
Your blog has been an interesting read and I would be most keen to follow your fortune with forex, look forward to seeing some of your charts posted.
Thanks
GT