Today I pyramided my existing Britvic spread bet. I pyramided according to my new pyramiding strategy using 1 ATR. My new pyramiding strategy is actually kind of hidden in another blog post entitled “Doing Nothing – It’s a part of Spread Betting.” Since I intend to use this strategy for pyramiding spread bets I will probably tidy it up a little and move it to a more sensible place, most likely with my other spread betting strategies. I think pyramiding Is probably one of the most difficult aspects of spread betting. When do you pyramid? How do you pyramid? It’s certainly something that I have struggled with and still do. I wonder if my new pyramiding strategy will work out for me over the long term? As always time will tell.

Anyway back to my new pyramid. Since Britvic made a high yesterday of around 402.7 I subtracted 1xATR 7.7 and placed a new sell order at 395. With a stop set at the current super trend level of 415. This extra £1 per point puts the position back into risk rather than break even. Hopefully the price continues to fall and makes me a nice profit.

Other than that I’ve just been moving stops. I had a quick look for new trades today and nothing jumped out and slapped me in the face so I’ll be waiting until another opportunity comes along. I’m not worried at the moment anyway as I have more than enough open positions for now. I think I will now just be monitoring them and seeing how they progress and if any new pyramiding opportunities come along.

Hopefully you all saw my previous post about the spread betting beginner news letter. I have three e-mail addresses registered for testing purposes and when I wrote the blog entry I hadn’t received the e-mail at one of the addresses. It came in about 15mins or so later so I guess it could just be the time it takes to send out the news letter to the hundreds of thousands of people that have already subscribed(Yeah right, I wish). Anyway if you haven’t received the news letter and would like to please let me know and I will send it too you manually. Please do enter the FTSE100 competition this month as it is completely free, no strings attached and you can win a prize. Just ask Ted.

Until next time,
“May the markets be with you!”
Harry,
The Spread Betting Beginner

Hi All,

This is a very brief post to say that I have just sent out the latest Spread Betting News Letter. I think there may be a slight problem with my e-mail system but I can’t say for sure. If you have subscribed can you please let me know if you received the news letter or not. I suspect that some people may have missed out on the opportunity to enter the FTSE competition because of this and I need to get this rectified as soon as I can.

So if you have subscribed please let me know if you received the news letter of not via e-mail spreadbettingbeginner[at]yahoo.co.uk.

Thanks in advance.
Harry.

Well another week has flown past and it’s taken half the year with it. I can’t believe we are already half way through this year. It really is scary how quickly time seems to fly past these days. Still I guess that’s just life for ya! Maybe one day the days wont seem to whizz past, I think that might be wish full thinking hey.

The last few days has seen a hive of activity as far as my spread betting is concerned. The recent rally in the market has seen a lot of opportunities come my way that meet the entry criteria for my trading strategy. I haven’t taken every opportunity possible for a few reasons. Firstly some did not meet my risk criteria and secondly if I had taken on all the trades I would be seriously over exposed to the market. I’m almost running the risk of being over exposed at the moment but I am still just about in my comfort zone.

The new spread bets are:

A pyramid into my Misys position. Buy at £1 per point at 422. This means I am now long £3 per point on Misys. Overall the three positions are just about at break even if my stops were to be hit. One would make a profit, the other is break even and the newest position would see a loss almost equal to the locked in profit. Hopefully the recent up trend continues for some time yet and this trades works out to be a good one.
Next up I brought into TUI travel £1 per point at 224.49 with a stop set at 210. This is a long trade and meets the requirements for my super trend cross and a buy signal from Vince Stanziones trading system.

Yesterday I made two new trades. £2 per point in ITV at 71.7 with a stop set at 64, again this is a super trend/ VS buy. £1 per point in Henderson group at 152.63 with a stop set at 142 yet another super trend/ VS buy.

Today I also made one new trade. Again it was a buy in Alliance Trust, £1 per point at 387.27 with a stop set at 367. With opening all these trades over the last few days I know have a total of £10 per point exposure across 7 trades. I think this is more than enough for the time being so I shall be taking a break from looking for new opportunities until I close out some of the open positions. Hopefully this will not be for a while and they all close out for a nice juicy profit. That said if the do start to move into profit and I start to lock in some of that profit then I may either look to pyramid the positions or establish new positions in other stocks. I don’t know yet, I’ll decide should the occasion arise. For the time being though I am happy enough to wait and see what happens with my open positions.

And the winner is!!!

Congratulations to Ted. He is the winner of this months FTSE100 competition. You have won yourself a copy of 101 Ways to Pick Stock Market Winners By Clem Chambers.

The next spread betting news letter will be available shortly with your chance to win this months prize, courtesy of Global Investor Bookshop. It is a copy of The Naked Traders Guide To Spread Betting By Robbie Burns. Now this is a book that I have read and you can read my review on my spread betting reading list.

To be in with a chance of winning you have to subscribe to the monthly news letter and enter the FTSE100 competition via the link within the e-mail. I’m not sure why only three people entered this month but hopefully this month we’ll have a better turn out.

Ok so that’s all from me. How I said the spread betting news letter should be out soon. I aim to send it out over the weekend so keep checking you inbox for that. Other than that have a fantastic weekend everyone and I’ll see you back here next week.

Until next time,
“May the markets be with you!”
Harry,
The Spread Betting Beginner