Again not a massive amount to report on the trading front today. I set a new buy order for yell at 10p with a stop set at 2p. I wanted to set no stop but CMC wouldn’t allow a stop set at 0p, so I opted for 2p instead. Why not 1p I hear you ask well I say to that why not 2p? There’s no real reason behind the stop level, although if it starts to move in my favour I will probably adjust the level to the super trend value.
I’ve also placed a new order for F&C. I’ve set a buy in at 72 with a stop set at 69. The stop level on my current open position is set to 69 currently locking in a potential profit of £15.71. With the new £3 risk on the table it reduces the potential profit to £12.71. There is no guarantee that this trade will even execute and the price could continue it’s recent rise, which hopefully it does. This is more of an experiment in pyramiding for me than anything else. I think the extra £3 risk is worth taking to make the most of any potential rise.
There really isn’t much else for me to report today. Thanks again to bigAl for posting his latest update, you can read it here. I know he’s probably feeling a little lonely over on the forum so please join him. It’s completely free and you can share your spread betting wisdom with others.
Spread betting DVDs
Oh and if your looking X-mas presents early you can always search amazon below to find them.
Until next time,
“May the markets be with you!”
Spread betting beginner