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12 month money challenge (Oct 2014)

 

12 month money challenge – Oct 2014 update

Ok, here I am in October and I have decided to make the challenge a 12 month challenge as I feel 6 months wasn’t long enough. Also I will report monthly as it is an easier reporting system for me. Sorry to change things now but I hope this is the last time frame change.

I’ve also had a rethink about the actual trade. I tried to keep the original trade as easy as possible but have realised I need to adapt to a moving economic situation. As you may know if you drive a car, the price of oil has been on a downward trend for quite a while and recently has taken quite a plunge. This will affect all markets worldwide ( and did last Friday 26th Nov.) and I have a trade that can cope with these type of swings. It is much more technical than the original trade. I intend to report the results monthly and presently intend doing the trade in a demo account until I am happy with the results. After a couple of months I will reassess the situation and share the trade details if I feel it’s appropriate (and it’s working ok).

The trade is still on the Wall Street Index but will be able to go Long or Short (follow the index up or down). Most people Buy shares or want the price to rise. You can also Sell shares and want the price to fall, so you can buy it back at a lower price. It can be a hard concept at first to get used to but it is the opposite to buying and is just as easy to do.

Below are the October results that occurred through backtesting. Please understand that I have not traded this live as of yet and intend to start Monday Dec 1st. If the actual results are anything like these backtesting results, I’ll be very happy.

Hopefully it will be a great run up to Christmas.

October 2014

 

Results from chart data

 SHORT

1/10 – 199

2/10 – 6

3 to 7/10 – 83

8 to 9/10 – 98

10/10 – 122

12/10 – 44

13/10 – 97

14 to 15/10 – 264

16/10 – (49)

17/10 – (246)

LONG

19 to 21/10 – 190

22 to 23/10 – 92

24/10 – 113

26/10 – 20

27 to 28/10 – 149

29 to 30/10 – 209

31/10 – 171

Total = 1562 pts

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