Spread betting is a funny old game. Especially if, like me, you are really a part time spread better. I was checking all my open positions the other day and I noticed that Ladbrokes had fallen below the super trend level and was now actually a potential sell. Since my Ladbrokes position was open in my Tradefair account I don’t check it everyday unless I need to move my stops. Well I must have not checked it for a few days and the bet had actually exited on the 24th February.
Although my stop took care of exiting the position it really highlighted something that I have suspected over the last few weeks. I have taken my eye of my spread betting ball. It has become apparent that I have been slacking. So what have I decide to do about it. Well, firstly I’ve decide to try and make more time and blog every trading day (Mon – Fri). This means that other areas of the site might take a back seat for a while. So if I’m struggling for time why blog every day?
The reason I started spread betting beginner was to keep track of my trades and make me a more disciplined trader. Clearly I have been lacking with the discipline part. I’ve been focused on trying to improve the site and helping the misses with reports for work that I’ve let my spread betting slip. Well time to change. If I post a blog entry everyday I can keep an eye on my trades and check for new opportunities at the same time. The blog posts may not always be that informative and interesting so for that I apologise in advance. I need to do it though. If I don’t start doing it now and keep it going how am I ever going to achieve my goal of Spread betting for a living!
So that’s it. Starting today I’ll be posting everyday again. Hopefully this will make you happy, If anyone actually reads my blog posts that is. I think a few people read them but I can’t be sure. If you’re wondering what time I’ll be posting I’m afraid it could potentially be any time. I will aim to get the post done just after I finish work. This could be anytime from 17:30 onwards. There may be times when I get time earlier in the day so I may post then if I get chance.
Back to the Spread Betting Blog
So onto todays spread betting action. I placed one new trade today. I brought Hays at 130.12 with a stop at 116. I’m long £0.70 per point. Not mega bucks I know, and I share BigAls sentiments about “fiddle-faddling about with £2-3 per point”. The only thing I can say there is that from my own experience it’s best for me to stick to my risk management strategy. It’s probably the only reason I’m still trading today. Hopefully my strategy starts to show some good results and I can add more funds which will increase my £/point stake inline with my strategy. BigAl I know you weren’t having a pop but I wanted to use your quote as a means of making a point any spread betting beginners out there.
Until next time,
“May the markets be with you!”
The Spread Betting Beginner