As the title suggests I made another mistake, one which I have made before and with hindsight can’t believe I made again. I posted yesterday about pyramiding my Commerzbank position, which I did at 605 with a stop at 595. This has stopped out today so I’ve taken a profit of £45 overall on the trade.  The thing is though looking at the pyramiding trade again today I’m not sure why I did it. there was no real strategy behind it and I obviously attempted it too soon.(Which I also did with my arcandor position) Therefore I will be creating another rule regarding when I can pyramid any positions.

My alcatel lucent pyramid is still holding up. I think I have done the right thing regarding how and when I have pyramided this position. I brought when price passed a recent high with a stop set below the recent low and I did this after the dip had occurred. With commerzbank and arcandor I tried to pyramid during the dip which I most certainly will not do again. I’m going to get my rule written up and stick to it.

I’m actually off from work today which is why I am positing so early, so there will be no post later.

Thanks again for the comment from Alan, I agree with the “Thank God we’ve qualified for the next round!”. I think England played much better than they have in there last two games. The first ten minutes were still very nervy but the settled down and started to find some form. I only hope they can continue it in their clash with Germany on Sunday.

Anyway that’s all form me for now
Until next time
“May the markets be with you”
Spread Betting Beginner

June 24, 2010 by Harry
Category: blog