Hi everyone,

My apologies for the length of time in between posts! The school holidays were a crazy time for me with three kids, and now they are back at school, its been even crazier!

I hope you all enjoyed a very wonderful Christmas and New Year with your family and friends, I sure did, but now it is back to reality!

Over the January holidays, I managed to close out all but one of my positions. TLS is the only position I have left on from the previous months, and this has been rolled out to Feburary. I did the trade for no cost roll, so I don’t feel the need to post the worksheet again as it is the same as last month.

I took some time and learnt a couple of new strategies that I will share with you over the coming months. Its too soon to post them now as I would like to see how they go for a couple of months before recommending them and taking the time to produce video tutorials

I placed a new trade on LGL - Lihir Gold, in the last week of January, see below of the worksheet. LGL as well as gold itself, had been sold off quite heavily leading up to me placing the trade, and so far it is going along nicely. All my indicators lined up for me to enter, and so I did and received quite a nice credit for doing so. I believe LGL is a great buy at current levels, and even at my sold strike price of $3. With the premium I received for doing this trade it has brought my breakeven down to the current price of the stock, so if I am exersised and buy the stock, it would be as if I was buying at the current level.

LGL Worksheet

I think with the way the market has been behaving lately, it is very wise to protect your current positions, with strategies that are cheap to enter, but will profit if the overall market falls, which is what I have done this month. I have used a strategy called a Butterfly on our index, so that if the market falls to 4500 or breaks this major support, I can still proift, while rolling out my other trade. Butterflies are usually cheap to enter, so that if the protection is not needed and the market rises, my loss on that strategy will be minimal in comparison to the profit I make on my other positions. They are a very effective way to trade ranges, but I wont go too much into them now, I’d rather wait and see how this month turns out and talk more about them after that.

That’s all for now, as always Happy Trading and remember…
Mum’s the Word!