Not too much to report on the trading front. 888 stopped out yesterday for an £0.08 loss. My new position in EAGA is about £5 in profit so fingers crossed for that one. Debenhams has slipped back slightly from it’s high of around 77. It would seem that Debenhams is pulling back a little from it’s recent upward swing. I have placed an order to buy in another £1 per point if the price re-traces to 70p. I’ve set a stop for this new order at 69p so it would be risking £2 of the £7 I already have locked in.
This potential pyramid is a new addition to my super trend strategy. If the price retraces within 3% of the stop out price then as long as the position is enough in profit I can pyramid the position. I think I may need to think more about how much the position should be in profit before attempting the pyramid. Maybe I am being too keep to pyramid again here, but I think it’s worth a try. The trade may not even execute as the price needs to fall 5 points or so before it does. I’ll keep you posted with what happens.
It’s a short post today as I’ve been busy with work and will not get much time this evening either. If I get time I’ll have a look for some new trades later, but the way it’s going at the moment I doubt I’ll get the time. If I move my stops you can check out my open positions and see them there.
Until next time,
“May the markets be with you!”