Well it’s that time of year again and a fat bloke in a red suit will be popping down your chimney in a few days time. Not Santa of course, it’s the resident burglar nicking all your presents that you’ve spent ages to save for. Of course I’m joking Santas on his way and the festive season if firmly upon us. Hopefully you’re all set with your presents for everyone and you do not need to brave the Christmas eve rush. I’ve done enough this year that I’m all set, so I’ll be relaxing on Christmas eve with my feet up and a nice glass of eggnog watching Santa Clause, The movie starring Dudley More and John Lithgow. If you’ve not seen it I highly recommend it for Christmas eve entertainment, especially if you have little ones. Then Christmas day will be upon us and I’ll probably spend most of the day doing the cooking, just call me Jamie Oliver.
Anyway I guess I should get onto some spread betting talk, that is of course why you read this blog. (If anyone does still read that is). Well my current open positions are all still open, just about. Most of them are showing losses, but as we all know losses are a part of spread betting. Learn to love them because they will happen. While I may love losses, it doesn’t mean I have to like them. It’s at times like this when things don’t go according to plan that I usually start to make rash decisions which inevitably cost me money. Take today for example, I can’t tell you how close I came to closing my positions with the view to start again in the new year. I still think it might be a good idea to take a break and re-asses my situation but then that wouldn’t make good reading now would it? With having time over the Christmas break I will certainly spending time analysing past performance and thinking about what my next move should be. As I mentioned previously the strategy that I am trading at the moment will probably be great in a trending market but in long periods of sideways movements it seems to perform poorly at best. Therefore I need some other strategy for sideways moves. Something I plan to develop over Christmas, along with getting my trading plan nailed down. I need to do something as continuing the same way will only lead to the poor house and that’s not the plan. The idea is to spread bet or ‘trade’ ,y way to financial freedom not into financial meltdown. I don’t think I ever would trade into financial meltdown but from my point of view if I don’t make an overall profit then it’s a financial meltdown. I keep my losses small and manage risk which is most certainly the only reason I am still trading today. I just now need to learn how to pick stocks that perform and then let the profits run and run. I’m sure I’ll get there one day, it just takes time.
I’ll be adding more new features and content to the website over the Christmas break which I hope you will enjoy. I will also be starting my own FTSE 100 commentary, which I aim to update daily with my thoughts about what’s happening and what I think might happen. It will be in a new ‘news’ section so keep and eye out for it. I’ll still be blogging on a semi-regular basis so don’t worry I’m not going anywhere just yet. I just think it makes more sense to separate FTSE commentary from my blog posts. Hopefully this analysis will help with my spread betting by giving me insight into what the FTSE is doing and where I think it will be going. I guess we’ll find out.
Right that’s about all you’ll hear from me before Christmas. So I wish you all a very Merry Christmas and a Happy New Year.
Until next time,
“May the markets be with you!”
The Spread Betting Beginner