Macchia69 @Macchia69: "18 - August 2024 -..."

Italy

18 - August 2024 - End of month report And the wait goes on… Let me address some administrative details first. Moving forward, and somewhat against my initial belief but in line with what I’m told is the industry standard, I will be changing the naming convention for portfolio valuations. In short, what I previously referred to as the “unrealised” value - i.e., the value of the portfolio based on the money invested but without any trades being closed - will now be called the “realised” value. Conversely, the value of the portfolio if I were to close all trades will now be termed the “unrealised” value. The latter is the method used by eToro for its statistics, while the former is what matters most to me, as it aligns with my policy of avoiding sales at a loss and is what I use to evaluate growth year on year. Now, onto the substantive issues. The only thing I can say is that there is no clear alternative to waiting for things to correct themselves, at least somewhat. There has been some debate in the comments and on the Telegram Group (Macchia69) about possible immediate shifts in strategy and the potential for opening new positions at this level. Don’t get me wrong, I understand the frustration most of you are feeling. Multiply that by a large leverage, and you’ll get a sense of my frustration. However, I cannot, I repeat, CANNOT open positions with the bulk of the portfolio so far out of the grid. Doing so would risk a potentially catastrophic loss, and I do not want to become another casualty in the risky world of leveraged trading. I am confident that the index will correct itself enough for me to realign the strategy and resume trading. This, in turn, will stop the haemorrhaging caused by fees and dividends and allow me to trim the lower shorts without causing the portfolio to drop too much. So far, the fees and dividends have cost me roughly 3 to 4% of the realised portfolio, while the unrealised portfolio is currently at a drawdown of approximately -40%, but this is the beauty of drawdown, it’s only theoretical if one does not close trades. Of course, the actual drawdown, as well as the real portfolio value seen by copiers depends on when they opened the copy. In my view, the only things needed now are nerves and patience, which I know is a lot to ask of traders. However, an uncertain gain is, in my mind, better than a certain loss. Finally, I apologise for the prolonged silence, partly due to the lack of significant updates and partly due to my being away for some of August. I will be more active in the feed in the coming month. 😉 💰 The growth for this month was -$ 1688 (-1.69%) 😭 ⏺️ eToro data - Month Average Risk: 6, - Month Max Risk: 6, - Performance -9.35%, - Copiers number: 546, -60 (-9.9%), - AUM: $ 1,240,000, $ 1,480,000 (-16.21%) - Portfolio value: - Realised: $ 97,837 - Unrealised: $ 52,510 - Portfolio composition: - Index: 81.19% ($UK100) - Share: 3.10% ($SBSW (Sibanye Stillwater Ltd-ADR)) - ETF 1.53% ($VNQ) - Cash: 14.18% ⏺️ My data: - Realised performance - Total change: -$ 1688 (-1.69%) - Weekly breakdown: - W1 -0.04%, - W2 0.21%, - W3 -1.45%, - W4 -0.20%, - W5 -0.21x%