Thursday, 5 June 2014

A review of my first half year as a (part time) trader...

The French Open is almost over. That's a good moment to think about my progress as a trader. In 2013 I started to learn the tennis markets and players. It's quiet difficult if you don't have an experienced person on your side. I decided to join Sultan's Trading Academy and TradeShark's picks.

TradeShark gave me a good overview about the Top50 players. The picks are a bit disappointed so far, but I guess that's bad variance in this year. In general the service has a good price/value-ratio for beginners or investors which are not interested to trade on their own. For more experienced traders I don't see much added value. So I will not renew my subscription next year. Paul was very helpful all the time, but I can walk on my own now.

The Sultan's Trading Academy is a bit more expensive. The trading guide is okay, but it's not giving enough inside to reach the level of a full time trader. Sultan doesn't make wrong promises (he is a honest guy!), but in the review I have to tell that he couldn't help me to reach the level I wanted. I was a bit surprised that he is not looking for for more interaction between the students. Beside he never seemed really interested if the students of the academy can succeed. At least not in my case... He helped me in the beginning, but with his email coaching it's (almost) impossible to become a successful trader. His service is too superficial (at least for me).

I was lucky to meet a full time trader some weeks ago. I wrote about it. Without his help I would trade at the moment in the best case around breakeven level. To improve more, I will visit him in France at mid of July to trade together the tournament of Hamburg.

My profits are stable now. Considering that my account is very small now (because my partner is trading with my money), I am really happy with the performance. Today I made around 10% return on capital. Once I trade with bigger bank, it's getting really interesting! The tennis markets have big liquidity, so it's no problem to rise the stakes at least by factor 10 to 20. Without taking big risks, I made today 30 Euro profit (only trading two matches). Beside my partner made me around 700 Euros with four matches.

Let's see if the progress in the second part of the year 2014 will be as good as in the first half. With the planned measures, I should be able to make a decent profit latest at US Open. Afterwards I can decide if I will start the 2015 as a full time trader.

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