I have closed out the last of my bad ill timed trades that resulted from punts rather than market analysis. As stated in a recent post I have changed my ways and will be documenting my strategy before I enact it.

Strategy Going Forward
Whilst I have somewhat missed the boat I know that these markets have become somewhat schizophrenic and will forget the downside and look upward again. My strategy is simply to short the rallies, nothing more complex that that. My entry will be starting at 4300 on the FTSE 100 with 4500 being my optimum entry point. I’m going to wait for the next rally even if it takes a few weeks. The position will be based on March contracts and my exit strategy will be 3600. Here is a quick breakdown.

Entry: 4300 – 4500 FTSE 100 March 2009
Exit: 3600
Stop (Mental): 4700
Point Size: 5 Euro ( 2 x 2.5)
Return Value: 3500

No related posts.