I returned 4.3% last week, bringing my end of month balance to £9600. I score myself 7.5 out of 10 for following the road map, but the reality is that the going is getting tougher. In this light, the decision to cut back on the aggressiveness of my trades appears to have been a prudent one.
When I started writing this blog, my aim was to get back to break-even by April 2007, but I realise this is increasingly unlikely with my current strategy, and I can ill afford to start experimenting with new approaches. I find myself on an unexpected path as I planned to either achieve break-even or to die (financially) trying. Instead, I have landed somewhere in between. My edge has fizzled out, at least for now, and I have a little capital which I am trying hard to preserve. What these weeks of profitability have brought me is precious time to find new ways of earning some coin should my edge fail to return. Based on past expenditures I estimate I have enough funds to last anywhere between 3 to 6 months before I am forced in to a corner of desperation.
The trading journey continues, but the frequency of my trades is being significantly reduced as I am narrowing my focus on the more potentially profitable trades. Because weekly results will be less meaningful in this context, from here on I will be reporting my trading results on a monthly basis. At least this effective ending of a chapter of my trading life neatly coincides with the end of the calendar year.
My weekly results to date: