We have finished our first week of trading in 2011 and let’s hope the week was not a sign of what to expect this year. The Australian Market finished the week lower and we have seen very mixed results in the overseas markets. Mind you traditionally the first week of the year is quiet and we only see small trading volumes. The general consensus seems to be that we will see the markets perform strongly this year.
The blog portfolio is down by 1% compared to last week and the open positions are currently 8% in profit. We have exited our remaining position in PPT (Perpetual Limited) and ended up with a total profit of over 15% thanks to early profit taking. We have also added BSL (Bluescope Steel) to the portfolio. BSL finished the week down (-3.5%) on a Bearish Outside Vertical Bar, which usually indicates further weakness in the stock.
The transactions for last week were:
Read more…
First I like to wish everyone a Happy New Year and all the best for your trading activities this year. This is always a good time to take a breather and take stock of what you have achieved in your trading (and other areas of your life) during last year. It is also the time where you need to set the goal posts for the new year. You may want to rethink your trading strategy and set clear and precise targets what you want to achieve.
Have a good look at your portfolio and set yourself a minimum dollar value of what your portfolio will be worth at the end of the year. Make sure the figure you come up with is ambitious but also realistic. Write down this figure on a piece of paper and make it your daily ritual to look at as if you have achieved this already. I write a few sentences around this and read them daily. You need to define a date and the value. And for best results write down what you feel when you have achieved this.
Here is an example: It is the 23rd of December 2011 and I am looking at my share portfolio for the margin lending account. The portfolio is worth more than 500,000 dollars. I feel fantastic and look forward spending Christmas with my family.
I like to say more than x dollars, this means I am specific on the amount but I leave room to exceed my goal. This has worked for me many times in the past. If you are not clear around goal setting, I recommend seeing a Life Coach, who can help you with this.
Enough about goal setting now back to the blog portfolio. I took a break updating the portfolio over Christmas and we haven’t missed much. Traditionally the markets are very quite during this time of year and I don’t expect much movement this week either. The Australian share market is still lagging behind some of the other major markets which all reached new highs.
Read more…
Apologies for missing last week’s update, I decided to spent some quality time with family on our holidays after we came back from my first skiing experience in Chile. We had great weather and best of all fantastic snow. I’ll definitely be back for more in years to come. Well as I skied downhill the markets went downhill as well. At least that was what I heard when I turned on the news. I expected the portfolio to be in negative territory again and was surprised to still see it clinging to a 1 percent gain.
There was quite a bit of activity while I was offline with TLS (Telstra Corporation) triggering the stop and three more additions to the portfolio. Telstra actually plunged to a new all time low at 2.82. OST (OneSteel) was a buy two weeks ago and last week we have added PPT (Perpetual Limited) and CWN (Crown Limited).
The transactions in detail:
Read more…
