I know I keep harping on about how I never have time for things and that’s the reasons my blogging has take a back seat but and I’ve actually started to miss it. Therefore I’m going to try and make some time to write during the week but that means I need something to write about. I have made a few spread bets recently so I can write about them today, plus I’m thinking about bringing back my weekly analysis of the FTSE. My goal of starting to blog about my trading was, and still is, to eventually be able to trade full time. However after starting spread betting beginner it became more about the website and developing it and my trading has started to fall by the wayside. So I need to get back to it. I think doing a weekly analysis of the FTSE is useful for my own trading and it is good content for the site so I figured why not. My goal is to try and do this at some point over the weekend but I can’t say for sure when that will be. It should be there by Sunday night at the latest so keep an eye out for that.
I have only made one new trade over the last few weeks. I decided to pyramid my position in Enterprise Inns. My original position was at a reasonable level of profit and I liked the look of the chart. My original trade was made at the end of November when price started to move upwards. Price then dropped to a new low in January before starting on a nice new up trend. The price then consolidated for a little while from the end of February until the middle of March and then it seemed to start back on the upward trend. When it had passed the most recent high and started a small re-trace I decided it was time to pyramid my position. So I bought in again at 56.82 with my stop set at 47. If my stop was to get hit then I would only have a £2 profit overall but that’s not the plan. With a bit of luck the price will continue to rise but we’ll wait and see what happens there.
Chart Copyright of SpreadCo ©212
Two of my positions have closed out since I last updated. My short in Halfords hit my stop loss at the end of March realising a £15 loss and when the whole market dropped yesterday it took with it my long position in Lloyds realising a £9.90 profit. So I’m still roughly a million pounds shy of becoming a millionaire but one day I’ll get there (keep dreaming Harry!)
Anyway that’s all for now. I’ll be posting my weekly analysis starting this weekend so keep checking back here for it. See you then.
Until next time,
“May the markets be with you!”
The Spread Betting Beginner