I am going to wrap up the review here. I started on 1st December so this is around 3 months.
Recently, market conditions have been against us and it has been difficult to find good stocks to BUY. What this has done is made sure that I really concentrate on gold-plated high-probability trades which are the sort of trades I should be looking for anyway. I said last week and in my initial preamble that I would not be looking to SELL stocks as Guy recommends his Options strategy for that.
When assessing an opportunity such as this I try to execute the system as if I was a beginner to the world of stock trading. To that end, I limited myself to a $3,000 start bank, which was roughly £2,300. I also limited myself to a maximum of two open trades at any one time, as this allowed me to gain experience in trade management without too much risk if I messed up. Finally, I did not open a trade if the risk was more than 5% of my total capital; my aim was around 2% if possible. I did identify some trades that were above this limit which were great if they won but decimated the bank if they lost.
The Better Than Bitcoin strategy is very simple. We are looking for four signals that Guy calls “big money footprints”. This could be time-consuming if you had to analyse 1000 stocks each week, but there is a scanner that identifies these stocks for you. All you need to do is check these stocks for a final chart pattern, this is not difficult and there is a tonne of support available to help you. Mentors are available should you do find this all a bit daunting; I did not contact a mentor.
I did not attend the Options Bootcamp.
Even in these adverse conditions, my bank stands at £2,515 so I have made a profit of around £200. If I was continuing I would now consider adjusting my rule to allow three open trades. There is an additional £180 of profit I didn’t make because I couldn’t open that trade as I already had 2 trades open. This is not something to rush into and you’d want to be confident that you understood what you are doing first. Also bear in mind that the value of 2% risk of your capital will increase as your capital increases so the profit potential will grow as your bank grows.
This profit was using a simple exit strategy of closing the trade once the profit target was hit. I did record taking half off at the profit target and letting the other half run looking for a big move. My bank using this strategy is £2,427, however, if market conditions were more positive then we might have caught a huge move. I also looked at just trailing the stoploss but this lost £500, here too I suspect that this strategy could only work in a strong market. In short, keeping it simple and closing at a set profit target is not only the most profitable in my trial but the easiest to manage too.
Whilst I am going to approve this I recognise that you may be unable to cover the seminar cost in year 1 if using a small bank. Opportunities such as this are not about quick returns, and if you think, say, 5 years, building your account and gaining experience then I feel confident that you’ll not be sorry you invested in this.