Making a profit?



  • For those who have made a profit how long did it take you? Have you had red in your portfolio where you have been down?

    I’ve tried a few strategies and seems like it’s not working for me. Lost around £15 since trading with about £200.

    I think this is due to short term trading. Guess it’s tougher?

    What is your view on long term? What do you classify as long term?

    Trying to rethink my long term strategy.

    Thanks
    Rob



  • @Rob late March my portfolio was £12k. Now it is £22k. I mainly go for long term strategy. I think around 20x more money could be invested yet so see my portfolio going up 5x as much in the next few years hopefully. There is no reason why you can't do it too if you invest the right way.

    I have seen red but usually when I hold they nearly always turn green.



  • @Rob I guess you are still learning and making the mistakes many of us have.
    I joined in April with £20, then added a bit n a bit more. Made some hideous errors. I got TAA for peanuts, he dipped about 5p I panicked and sold, now worth x2+ what I paid.
    I thing it took me to the start of this season to get ‘it’
    Now I’m making money, but I have a 4.1k portfolio.

    While people will say the percentage is the same, it’s easier to make money if you can buy x100’s of a player.



  • @Rob just for clarity, that 4.1k has come from an invest of over 3k, not from £20 and a few bits



  • Vast majority of my experiments with short term trading have resulted in minor losses mid to long term is a lot more viable . I normally buy with the expectation to hold that player at least 3 to 6 months . Ignore what everyones doing now and work out what people are doing next .



  • I think I’ve been chasing price rises on goals. Not working. So have decided to think longerm instead.



  • Just invest in good players... Think it took me a month of speculation before I started seeing healthy returns but it was a slow progressing burner rather than instant success. If you believe in FI and it's growth potential then everything else should naturally follow... Even if you make a couple of average investments!



  • @Rob said in Making a profit?:

    For those who have made a profit how long did it take you? Have you had red in your portfolio where you have been down?

    I’ve tried a few strategies and seems like it’s not working for me. Lost around £15 since trading with about £200.

    I think this is due to short term trading. Guess it’s tougher?

    What is your view on long term? What do you classify as long term?

    Trying to rethink my long term strategy.

    Thanks
    Rob

    First, there is no such thing as long term on Football Index. A long-term investment is 5 years+ plus whereas the minimum hold on FI is 3 years. In reality, there are various trends so for most players you should have an exit point in your head and pretty much stick to that unless circumstances change.

    When I first started about 18 months ago I was pretty much level for ages - managed to nudge to about 10% then it all started to rocket.

    For me, whilst I'm a decent enough trader and make decent decisions most of my profits have been just by having money in the index when it was booming. There's a theory that to make money on the stock market all you need is follow the moving average of the market if its up you put your money in, if its down you take money out. Basically you want to be in the market when its booming and out when its falling. If you do that then you will make money regardless of your picks.

    I think its far more likely to have another boom than a crash so people shouldn't be panicking when they say a bit of red. You want to have money in the index on solid players when there is the next boom.



  • @Rob

    I buy players with a view to holding for a season MINIMUM - yes things can change, such as injury, getting dropped, signs new contract in which case I reassess but patience is the key to making money on FI. I have only sold about 15% of my players in the last 3 months (mainly due to cashing out profits) Short term traders can succeed on here but it is hard to do; knocking 2% commission off every sale + any spread on IS you need consistently large gains to even beat breakeven.

    I don't chase daily wins but might buy a player if they have a run of say 6-8 "easy" games (Liverpool currently enjoying such a run) & hope to cash a minimum 10-20% profit as anything less is too risky. I have seen 3 deposit bonus promotions (10% free money so wait & take advantage of the next one) & they have always resulted in a net gain across my portfolio (I try to have no more than 1-2% in any 1 player) as diversity helps smooth any individual ups & downs. Currently up about 20% but constantly adding new cash as & when I have it spare so that depresses the actual returns a touch.

    Small portfolios can work but I think £500 would be a realistic minimum to achieve a decent level of diversity but best to learn & make any mistakes (lose money) with the smallest amount possible. Majority of my players are under 27 so even if they dip in price they have plenty of time to recover without the need to panic sell. Just reading this forum will provide plenty of good opportunities to profit but always back your own instinct & never chase a player that you don't believe in (I also NEVER buy anyone on the risers list as they often drop back in the subsequent days/weeks).


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