1 Year Update:
Thought i'd give an update as just hit 1 year on FI and it's been a bumpy few months since I last posted. Theres been a couple of diary type posts lately and i've found it interesting to see other peoples journeys so thought i'd add mine. I don't have anything better to do anyway!
I hit my revised 100% target quite quickly in late January but came crashing back down past it in February and now sit just below but with my money out of FI.
January was ok. I struggled a bit with the transfer window, it's not something I think is a particular strength of mine. I like picking out PB players that are under valued and this goes a bit out of the window in transfer season. I get frustrated as I know 95% plus rumours are fake and don't want to buy into them but really I should just think of it as unimportant and get in on the rumour early. Something to work on in the future for sure.
Anyway thanks to a couple of IPO's I flew past my 13k profit target. I changed strategy a bit during January and set about reducing my port and going big on certain holds. This is where I ran into problems. I remember a catastrophic weekend were all my players either had a mare or got injured.
Suddenly my forward momentum collapsed and I started going backwards. I was holding players out of favour and I started to try and sell but I seemed to lose my touch and couldn't pick a good hold and was probably guilty of over trading. My IPO players that had made me a bunch started to drop which added to the pain. February wasn't just the first month I didn't hit 1k profit but I actually lost close to 1k.
Rolling into March we all know what happened. The pandemic hit and everyone shat the bed. I was watching the instant sells absolutely fly through the ticker. I watched for an hour or two with my finger hovering over the instant sell button. Finally FI increased the spreads and I didn't have to make that tough choice. When the dust settled a lost 2/3% that day. Probably no where near as bad as most due to my port suffering in the weeks before.
Fi then offered the recent bonus and kept the instant sell off. The index settled and then started to do well. Personally though the experience shook me up a bit. I felt silly for having so much of my savings in FI and seeing a possibility of it disappearing. So I made a decision. I was going to start selling up my port and do so until I was just playing with profits.
I made my 3% back very quickly and got back to where I was before the crash. If anything I was helped as it stopped the rot for me and I was making money again. I held players others could see were in a dip and people started buying. In the end I didn't stop at just taking out my profits but put everyone up for sale. I sold just over 80% by the time the bonus ended.
Watching the index fly I had some regrets that I didn't reinvest my money. My watchlist was all doing well and I worked out probably missed out on a possible £1000 - £2000 in profit.
However after the last week and seeing how stagnant the market is I still think I made the right decision for me and my circumstances. I'm currently furloughed and work in the hospitality industry so my job is far from safe in the future. Also I'm still unsure on how FI are going to get out of this. I expect they will be fine, these last couple of months have shown how resilient they are to the outside world but i'm glad i've got my money out right at this moment. I can now sit back and wait for the opportune moment to get back in. How much I put back in i'm still undecided but i'm looking forward to getting trading again.