GREAT BRITISH TRADE OFF

THE GREAT BRITISH TRADE OFF

HUMBUG IS PISSED OFF WITH BEING FAGIN’S UGLY SISTER

Twice this week I’ve been chatting to people who’ve said they had looked at our blog and enjoyed the battle we’re having with the markets and each other as we look to grow our money and seek financial independence with noughts on.

Both people asked me which one was I? Was I Humbug or was I Fagin?

I said Humbug. One person said ‘right’ almost with pity, the other actually said ‘oh dear that is unfortunate’.

Do I need this? I mean not only am I getting a kicking in THE GREAT BRITISH TRADE OFF,  loosing by a wide margin, which is bad enough anyway. But now people in the street are taking pity on me. DUH.

To be serious, I think both of them would have preferred to have been talking to Fagin and learning how they too could make a 34.2% return on their money in a year.

The glib answer is some inspiration but years of perspiration, oh and strong nerves.

You mark my words, if Fagin continues to bang in the great results one day he’s gonna be a big star.

The question for me is will I be a little star, or am I destined to be Fagin’s ugly sister for all time? Mind you being ugly in a pantomime for three weeks a year gives Christopher Biggins a good living, so maybe there are worse things I could be.

Talking of Fagin, he opened one new trade this week.in Evraz PLC (EVR).

SHARESCOPE CHART OF EVRAZ PLC

The green arrow marks his entry on Wednesday, 9000 shares at 501.5p.

Me? How did I get on this week? Well better than last week, when I lost £3225, making it my worst ever week of The Great British Trade Off. My portfolio increased in value by £264.

I sold out of the Gam Star China Fund at 2031.2504p for a loss of £216 (the increase in portfolio value has taken that loss into account)

SHARESCOPE CHART OF THE GAM STAR CHINA EQUITY FUND

My sale went through at the beginning of the week, its since fallen a little further.

As a result of this weeks price action I’ve three sales planned for Monday of next week. My other two China funds have to go as they’ve fallen through my stops.

SHARESCOPE CHART OF THE OLD MUTUAL CHINA EQUITY FUND

When you buy or sell funds it isn’t instant execution, so you never quite know what price you’ll be in or out at. This one will likely go for a loss of around £180.

The Fidelity China Consumer Fund has also broken down through it’s stop and will be sold..

SHARESCOPE CHART OF THE FIDELITY CHINA CONSUMER FUND

The likely loss with this one is £150.

Its a shame that all three of my China funds have had to go. The momentum I spotted a few weeks ago was real enough as the charts show, but sadly for me it didn’t last long enough for these to become profitable trades.

My system works brilliantly when a decent upward trend develops, keeps me out of the market in cash and therefor safe in a prolonged downturn but doesn’t work well in a choppy sideways situation.

I don’t know of any way of working that could cope well with all three scenarios, up, down or sideways.

I’m also going to come out of the Legg Mason IF Japan Equity Fund to protect a profit that’s being eroded.

SHARESCOPE CHART OF THE LEGG MASON IF JAPAN EQUITY FUND

The profit on this one should be £235. If you look at the chart you could well take the view that at 360 the price is at strong support and may well bounce upwards again.

This is what I actually think is likely to happen, but As Fagin has drummed into me, TRADE WHAT YOU SEE, NOT WHAT YOU THINK.

When these sales have all gone through, my loading will be 55% invested, which considering all the current uncertainty is just fine. Also worth saying that in spite of last weeks dreadful results I’m still up £3500 since the start of year two of THE GREAT BRITISH TRADE OFF.

So onward.