Sorry for no post yesterday, It always takes me a while to settle back in at home after being away, even after only two days. Imagine what it is going to be like after two weeks.
Well some of my trades are doing ok. I have new positions in Cobham sell at 223.35, stop at 234, Meggit buy at 261.5 stop at 255, and F&C asset management buy at 53.29 stop at 47.
Meggit is  support buy. I think there is a support zone around 260 so I brought just above with a stop set just below.
Cobham and F&C asset management are both an experiment with the super trend indicator I’ve mentioned previously. I brought them both when the super trend indicator crossed the price and I have been trailing the stop according to the price highlighted by the indicator. I haven’t just purely used this indicator, I have taken a look at the chart and decided if the trade was worthwhile or not before I made it. It would seem that both have potentially been worth while so far. Cobham is showing a slight profit and F&C has rocketed today by around 23%. The position is currently around £10 in profit with an initial £6 risk. I would’ve previously rushed to trail my stop up to lock in profit and probably trailed it to tight and miss out on further gains. I am not doing it this time. Because It’s a super trend buy the indicator will give me the value that I should move my stop to. I have to wait until the end of trading to do this as I use  proRealTime free EOD charts.
With Cobham my stop currently lies at around 10 pts away but originally it was around 20 points away. 
I’m hoping by the end of today the indicator for F&C will move my stop to lock in profit. I’m not sure what will happen yet as the price could fall back. As always with the stock market time will reveal all.
I will not be placing any new trades now until I return from Holiday at the beginning of September. I apologise for the sporadic nature of the blog over the last few weeks but I’ve had a lot going on personally and haven’t always had the time to update. Hopefully when I return in September I will update more frequently.
Please bare with me and spread the word about the blog. I’m sure there are a lot of people out there in the same position as me and with time and hard work I’m sure we can become successful together.

Until next time
“May the markets be with you”
Spread Betting Beginner

August 17, 2010 by Harry
Category: blog