After I mentioned to Graham that I’d managed to hit £10k for the month of October (£10,731 to be exact!), he invited me to write a few words here about the profitable strategies that I use in the hope that it proves an inspiration and shows what is possible, so here goes…

The vast majority of my income is from financial trading. After a couple of fruitless years involving many hours of chart watching, I changed tack for 2017 and bought a couple of set-and-forget strategies (set up at a particular time of day with a stop loss and profit target then left alone) and resumed one I’d bought in 2014. Subsequently, I bought more as I found them.

The beauty of this approach is two-fold: firstly, I now have a diversified portfolio of strategies with the aim of smoothing out troughs and peaks; and secondly, there is minimal chart-watching (human emotion tends to play havoc with a (novice) trader’s discipline when lengthy chart-watching is involved but also, it means a more productive day – I now combine my trading with voluntary work at a local food bank). Anyway, enough of the preamble; here’s what I use (P&L figures are all for Oct 2017 only):

Heikin Ashi Mountain
5-10 mins 7-8am weekdays & anytime over weekend; “Combined” +£962 (£20k bank)

Diff Code Transatlantic, Diff Code Global , Diff Code Europe (no longer available)
1 min each, 7-8am weekdays; £200 risk/£100 profit/trade; DCT +£1576, DCE +£382, DCG +£687

Magnetic Trading
07:45-08:15 FTSE/DAX webinar suggesting trades (not advice!); £10-12/pt; +£939

A Minus B
08:00-08:05 weekdays (+ possible management at 1100); £20-24/pt; +£272

HAV
5-10 mins weekly; £3551 (£25k bank)

PIE
20 mins/month; 1-3%/month

I also have a couple of betting tipsters:

Golf Betting Expert
weekly email on Tuesdays; very up & down; £10/pt; +£781

Sports Spreadbetting
trading of bets on horses/football/cricket; £10/pt; +£1091 (seem to be easily restricted)

The rest of my income stems from buy-to-let rent, savings interest, and portfolio income although I have just cashed-in the portfolio in order to take advantage of Gold & Silver For Life, which is forecast to pay out 1-2.2% pcm.

Another essential part of my set up, I believe, are my spreadsheets. Not only do they allow me to see the bottom line for each strategy (so I can see which to ditch if under-performing) and the all-important total earnings (in a master spreadsheet that collates all the income streams), it also serves as a motivator to get up the next morning and strive to improve on the previous day’s figure. In the first seven days of October, I’d made £5k (it’d slipped back to £3,844 as late as 22 October!) so I added another column to the master of what I’d need each day to hit £10k at month end. This increased my drive still further, particularly as my trading buddy up north was close to £10k too!

Hugo