With the week drawing to a close I’m looking forward to a few days off over the weekend. It’s been a busy week with family, work, trading and running the website. I suspect I will put some time into the site over the weekend (if I have any). I have a few new ideas so I’ll keep you posted with updates as and when they happen. I added the stock screener for my super trend strategy last night. You can get the code for the screener here. Obviously you will need to be registered with proRealTime to use it. Their EOD service is free so check it out.
Before I get into todays action I think there is still some places available for my capital spreads offer. If you want to read more about the offer you can here. With not having a huge following I suspect there will be a few places left for a while. I’ll let you know when they’ve all been taken. I’m working on exclusive offers for you with other firms so keep checking back for the latest deals. I’ve also added the capital spreads offer to my spread betting offers page so if you keep checking that you’ll always be up to date with the latest offers. That said when I do get a new offer I will post on the blog about it first before I add it to the offers page. Hopefully it will keep you reading, not that you are reading for the offers anyway. You enjoy the fun and informative posts that I write. Right? 😉
Onto todays trading. I established a new position in persimmon. With my stop set at 405 (1.5ATR on mid price) I have locked in £65 profit on the original trade. I set a buy order at 415 ( it was filled at 414.8 after slippage) with a stop also set at 405. Therefore I potentially have £55 locked in over all. £65- £10 = £55. So why 415. Well looking at the chart this could possibly be a support zone. Price reached this level before falling back creating a resistance zone back in October. With price now passing that level it could potentially become a support zone. The theory here is that price will bounce off this level and continue its recent upward trend. How I said that’s my theory, if it will pan out like that is another story. If it does rise back to the most recent high of 450ish then I’ll be in at £2 per point instead of just one from 415 onwards. Will it hold, who knows? I think it’s worth the risk to try and find out.
That’s really all that’s been happening on the trading front for me. No new trades. With the whole market quite subdued I’m hoping for some movement next week. Hopefully this movement will be in my favour.
Oh and one last thing I’ve written an article over on Ezine articles. It’s the first one of many I hope. If you fancy a laugh you can read it here. You will also learn my surname if you are observant enough but shush, don’t tell anyone. Some people probably still think I’m Tony Loton.
I hope you all have a great weekend, and just think it’s only two weeks until Christmas eve, man this year has flown past.
Until next time,
“May the markets be with you!”
Spread betting beginner
Hi
yeh been a busy week what with one thing and another; don’t know about you but (without appearing to be a complete ‘humbug’) I’m always glad to see the new year and the back of Xmas…bah humbug!!
Anyway been an interesting week on the markets and looking forward to a good one next week. I’ve managed to see my portfolio rise about 70% since starting in April; I attribute most of this to good old fashioned luck, not to mention sticking rigidly to my stop loss rule – don’t ever lower it! Also I’ve managed to curb my natural instinct to become too emotionally involved with some of the trades (but not entirely!).
By the way I’ve decided to apply for your Capital Spreads offer as I’ve been meaning to set up a second account for a while now. I’ve checked out their website and it seems to be a nice SB platform so see how it goes…
Have a good weekend!
Cheers, Alan (Big Al)
Hi big Al,
I know what you mean about x-mas. I Like it an all, but it’s a manic few weeks in the run up to one day. I’ve been doing some x-mas shopping today and everywhere is heaving with people. Not that I don’t like people, but when it’s all pushing and shoving and everyone is in everyone elses way it gets a bit much.
On to Capital spreads. I really their platform, it’s nice and simple, like me. What you will find is that all the spread betting firms that fall under the London capital Group (LCG) have very similar platforms. Paddy power & Tradefair are under LCG and if you open accounts with them you will definitely see the similarity in the platforms.
Well done for moving into the two platform territory. I’m sure you wont regret it. What you will find is that different platforms offer different instruments to trade and of course the spread can be very different between platforms. It’s good to check round a couple of platforms before trading to make sure you are getting the very best spread.
Regarding my spread betting offers, I’m working on some new ones for my blog readers. I’m hoping to have some as soon as I can so keep checking back to find out.
Keep up the good work with the trading.
Harry.