Before I get into my most recent spread betting activities I was wondering if anyone had any experience of iii I was browsing their site earlier and I just wondered what spread betting with iii is like. If you do have, or have had, an account with iii please do post a comment or post on the forum. I’d be keen to know what they are like. I guess I should really add them to my spread betting comparison table and spread betting reviews section. That way if anyone has an account with them they can add a review if they should feel inclined to do so.
Onto my recent trading activity. As we all know the last few days including today have seen the FTSE markets slipping back a little. Is this the time to be bearish? Well I think for the short term probably yes but longer term who knows. That said the short term could turn out to be bullish and the long term could end up bearish. The fact is I really don’t know.
That said I did make one new long trade yesterday. It was a super trend cross buy in Booker Group. Buy £2 per point at 59.26 with a guar anteed stop set at 53.26. The stop level is the 3xATR(10). This actually breaks one of my trading rules. I tend to risk no more than 1% per trade. Well I’m actually risking 1.2% on this trade. Naughty I know. I originally thought that I would be able to open the position at £1.60 per point which would fit my 1% risk tolerance. I came to place the trade with IG index and I could only place the trade at £1 or £2 per point.(obviously there are more options) I assumed that because I can place trades from £0.10 per point that I would be able to place a £1.60 trade but no. I could’ve either passed on the trade or placed it at £1 per point. However I decided to go for secret option number three of allowing an extra 0.2% risk. This is certainly not something that I would recommend. I think you should stick to you maximum risk level and pass on trades that do not fit. I guess I had a moment of madness and it’s not really something that I should repeat. Still what’s 0.2% between friends.
No doubt you will have noticed the front page has changed slightly. Please do let me know what you think about the new layout. It’s something that I am looking to roll out across the whole site over the coming weeks. As always any feedback you want to give me will be greatly appreciated.
Until next time,
“May the markets be with you!”
Harry,
The Spread Betting Beginner
