What a week. I have been chocka with work this last week and haven’t found the time to update. Don’t get used to me updating on a Sunday as I don’t plan on making a habit of it, but I thought I’d bring you up to speed with this weeks spread betting activity.


Well almost all of my spread bets have stopped out. I have one left open which is my Britvic position. The share price has been dropping nicely and it’s starting to become a nice little profit. Still I’ve learnt my lesson on stopping positions out early with Barclays. Last time I checked the price was around 224 which is 40 points lower than when I stopped out. That would’ve been an extra £120 profit, still I did what I did. The problem is really knowing what to do for the best. I don’t like to cut my profits short but it’s knowing that you are not cutting it short by leaving it open. I mean take Misys for example, If I’d closed that position out at 430 I would’ve been laughing. Instead I kept it open in hope of more gains. This was of course all according to my strategy, but maybe my strategy needs to be enhanced. Maybe I should take profits at 3:1 or 4:1 reward to risk ratio, but then again I could miss out on some huge profits by limiting myself to 3 or 4:1. I think for now I just need to stick with the strategy and let the stops take care of the profits. It’s the only way I will know for sure that I’m not cutting it short.


Sorry for the bit of a ramble. I’m still organising my thoughts about all this and the problem I have, as I’m sure you do to, is I don’t know what to do for the best. I guess that’s always going to be the case. If I knew what to do for the best then I would be rich already.


So that’s really my spread betting week in a nut shell. I haven’t opened any new positions purely because I haven’t had time with work commitments etc. I suspect this next week will be a busy one as well but I’m hoping after that I will have a little more time to look for new positions. It’s no good me rushing into trading as I know I will only lose if I don’t take my time an plan it carefully.


On a separate note I noticed no one entered the FTSE Competition this month. With it really failing to capture your imagination I’ve decided to knock the monthly competition on the head. The only problem is I still have a copy of,
The Naked Traders Guide to Spread Betting courtesy of Global Investor Book shop, To give away. I’m not sure of the fairest thing to do here so I want you guys to let me know what you think I should do. Either e-mail me or leave a comment on what you think I should do to give the book away. All thoughts and suggestions are welcome. Ideally I would like to make the monthly give away a feature but I’m not sure what to do for the best. How I said please make a suggestion, I look forward to hearing them.


Well that rounds everything up. I’ll do my best to post again during the week if anything exciting happens. Other than that enjoy what’s left of the weekend.


July 17, 2011 by Harry
Category: blog