Episode 5 – Post Brexit Wrap Up with Andrew Saks-Mcleod of FinanceFeeds
We both threw ourselves headlong into trading with a massive cumulative …8 trades between us. Which given that we are technical day trading is not a huge amount.
On the other hand, we are continually told that overtrading is the number one cause of unprofitable traders…so there.
Obviously the main cause of our reluctance was the seismic market events surround the Brexit vote. Were we slightly more experienced traders we could have got thoroughly involved, but in reality neither of us had the knowledge to do much more than gamble. Which ain’t really our thing.
Both of us ended the week up – Tom up 15 pips, Owen up 5 pips. So, two (modestly) profitable first weeks in trading. Nothing to write home about but we were up, so there’s that.
Looking ahead we see more volatile trading seas, but perhaps a chance to tame them slightly. Now that the first big moves have happened we can look at trading our normal indicators in the slightly steadier markets. JPY seems an obvious place to start.
Andrew Saks-Mcleod editor and co-founder of FinanceFeeds.com gave a strongly contrarian viewpoint and believes that the recent price movements in builders and banks are overdone and in fact they should benefit and thus see eventual share price rises!
Whether or not you agree with him it certainly makes for an entertaining listen.
He also gave some solid advice to newbie or intermediate traders who are itching to get involved on how to not lose your shirt in the increased volatility!