@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.
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.