Welcome to the next instalment of my monthly portfolio update series. We were running hot coming into November with Microsoft, Tesla and Nvidia of particular note making big gains.
We closed a number of trades taking excellent profits along the way and I'll start with a run down of those...
First up was Etsy, closing up a position at 45% profit following up with another position at 40% a few days later. Then we had Microsoft, which closed at 52% profit having been open less than a year.
Nvidia was the biggest highlight of the month with a closed trade coming in at 99.9% profit!
A Tesla position was closed at a 68% gain and a LLoyds Banking Group position at 80.5%.
On the flip side, we opened an additional position in Disney and made a return to crypto on the 1st of the month - buying Mana. This has brought a little volatility back into the portfolio but I have high hopes for the long term future of this market and in particular the metaverse. We've already seen fantastic gains with our trade almost doubling in a matter of weeks before minor corrections.
Having only opened two trades, I took the chance to consolidate, knowing that markets were beginning to look a little uneasy and there was definitely a correction on the way.
The correction arrived in style!
Once again highlighting the importance of taking profit, we were able to stave off extreme losses in the portfolio. Ending the month at a loss of 4.1% after a few weeks of pain towards month end. Timely profit taking mentioned earlier was a great opportunity to "buy the dip" into December and ride the inevitable bounce-back! More on that in the next update.
It is important to remember that markets cannot always go up in perpetuity; there are always corrections. However, time in the market is the essential thing, because the market always bounces back.
Patience will always be rewarded
I look forward to the final month of 2021, it's shaping up to be a good one, with 2022 set to be even better!
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I hope you all enjoy the festivities and I'll catch you in 2022 with my next update!