I’m sure that by now most people will be aware that another spread betting company (World Spreads) has ceased trading due to alleged misappropriation of client funds. Apparently there is a £13m short fall that was spotted on Friday 16th March 2012. If you goto the world spreads website you are greeted with a note informing you the ‘Special Administrators’ have been appointed. I did try e-mailing the address given, I figured I’m kind of press, but I have had no response thus far. If I do I’ll let you know.
If you have or rather had a spread betting account with World Spreads please do get in touch as I would be interested to know what is going on. I guess I’ve been lucky that I didn’t have an account with World Spreads or MF Global and so I’ve not had to deal with the stress of trying to get money back from them.
Anyway moving on I’ve actually done some spread betting in the last few days. I placed two new trades, one long one short. The Long is in regus and the short is in Halfords. They are both super trend cross over trades however, I have modified the settings of the super trend indicator slightly to try and avoid some market noise and therefore avoid being stopped out prematurely. Well that’s the theory at least, we’ll see how it works out in practice.
I’ve also been busy beavering away developing a position logging utility that will allow users to log there trades in the same way that I do. I have been using excel and while it’s great not everyone is a programmer like me and therefore I’ve been developing the same thing online. It’s in a beta stage at the moment while I Iron out the bugs and continue development but if you are interested and would like to take a look you can register here. How I said it’s in a beta phase and therefore is not free of bugs and does not have all the functionality I would like. You maybe thinking why didn’t I just offer a free excel download of the same thing? Well I could have but I decided to develop something online as it can then be accessed from anywhere in the world. It keeps all your positions in one place and it will be constantly updated with new features when I get the time to add them. How I said take a look if your interested.
Right that’s all from me for now. If you did have an account with world spreads I hope you didn’t have too much cash in it.
Until next time,
“May the markets be with you!”
The Spread Betting Beginner