Tuesday, August 12, 2014

New testimonial

I received the testimonial below yesterday from Rob, who has applied himself over the last year and ended up with a positive result. This has been achieved while being extremely cautious in his approach and level of exposure, and new to the trend following approach. Sometime less is more...:

"August 2014 marks the end of my years mentoring from Steve. I’m happy to say that I have ended the year in profit. Look at a chart for the FTSE 100 for the period Aug 2013-Aug 14 and you’ll see its not been a great year for following the trend. Profits for the period are only small but profits they are. I’m sure that without the guidance Steve has provided via the mentoring programme over the last 12 months things would be looking a little more grim for my trading account.

Over the last 12 months, I’ve learned so much by watching Steve trade his system. Patience, discipline, mindset, money management, you read about this stuff in all the trading books but to witness it first hand is truly invaluable. All in all, a great experience, thanks Steve."

Thanks Rob! As he mentioned, the FTSE has been in a non-trending state all year. To show what we've been up against in the UK, here's a weekly chart below of the broader FTSE All-Share, which exhibits the same characteristics as the FTSE 100:

Being able to generate a profit in the first year is always good. Generally, this period entails getting to grips with how trend following works, overcoming any initial issues and mistakes, while trying to develop the necessary emotional control. Having done all this so when the general market conditions have been tricky will hold Rob in good stead going forward.

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