Spread betting has taken a back seat again today. I’m just swamped with work at the moment so today’s update is going to be short but sweet. One thing I forgot to mention yesterday is that I pyramided my Taylor Wimpey position. So I’m now long £2 per point with at new risk of £4. The current position is over £9 in locked-in profit so the new £4 risk reduces this to £5. Still if it continues upwards then I’m long £2 per point for any further rise. I’ve been reading more about the turtles trading system and I want to write more about their pyramiding strategy, or at least my interpretation of it. I don’t have time at the moment but I’ll get that done later in the week.


Todays Spread betting Action

Well there has pretty much been none today. I’ve adjusted a few stops and that’s about it. With FTSE 100 sinking as low as 5600 today I wonder if I’m right to be bearish? Will the markets continue to tumble or is it a temporary dip due to recent world events. I know it’s not really right to be talking about this stuff while there is so much tragedy in Japan. My heart really does go out to all the families of people that have been affected by the earth quake and Tsunami. If you would like to help the people of the Tsunami you can make a donation via the red cross website.


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

March 15, 2011 by Harry
Category: blog