Well after I posted earlier I checked my Spread Betting account with SpreadCo and I realised that I didn’t spot TUI had stopped out. My stop for TUI was set at 215 but I suffered slippage in a big way because the price gapped at the open and my order was filled at 210. That’s a whopping 5 points slippage. I have to say that I think that is the largest amount of slippage I’ve incurred. It’s for trades like this that Guaranteed stops would’ve been useful. Still I think overall the cost of guaranteed stops Vs slippage pretty much balances itself out so I can’t complain too much. I also had another stop out today. ITV stopped out at 67 for a £9 loss. So total loss on the day is £76.68. I say loss, since most of that was a paper profit in Misys it’s really money I never had which I think is the only way I can view it without breaking down and crying. Boo Hoo.


To make things worse Mysis recovered to 10 points above my old stop level. Man this spread betting game is frustrating. Still it’s times like this when it’s most trying that we must have a stiff upper lip and look to the future. Although my funds dropped by over £70 The actual loss is only about £15, confused? I think I am too. Anyway tomorrow is another day. I’m still in the game and as long as I stick to my strategy and keep my losses small then I should be ok. Famous last words.


The other day I was thinking I wouldn’t have much to write about with not looking for new trades etc. Maybe that’s why the markets dropped so much to stop me out, Mr Market is going to miss my regular updates. It’s a nice thought but I highly doubt the reality is anywhere near. Since I now have some funds freed up I will probably be looking for new opportunities over the coming days so at least I’ll have something to write about.


In the mean time if you get bored of waiting for me to update you can read a fellow spread bettors blog. Robert Sweetman keeps a blog about his own trading exploits very similar to my own. Take a look I’m sure you will find it interesting, but don’t forget to come back here of course.


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

July 12, 2011 by Harry
Category: blog