I closed my short spread bet in Barratt Developments and instantly switched to long. Why? Well my spread betting strategy dictates that this should be the case. Barratt Developments are now into me for a total of around £20. Hopefully I wont suffer to may whipsaws like this before it starts to pay off. It may never pay off and it could well be the case that this new trial of a trading strategy loses me even more money. I guess I could’ve tried it out in a demo account first but I know from personal experience that I will not take it seriously enough if I use a demo account. I am therefore keeping it small but still very real. The plan is to always be long or short and therefore be in when the big trend move finally comes along.
I have to say over the last few weeks, with the bank holidays and all, I’ve been a little distracted. I’m hoping now the 4 day weekends are out the way I will be able to regain my focus and get back to some serious spread betting. I’m shall not be going nuts and trading for the sake of it but I certainly need to make more time to dedicate to it. I’ll also be sending out the first of my monthly news letters at some point this month. I’m not sure when yet as it really comes down to when I get the time to do it but hopefully it will be worth the wait. If you haven’t subscribed yet don’t forget you still can in time for the first news letter.
When I heard the news yesterday that Osama Bin Laden was dead I thought this might have been the news to push the markets higher. Well it did briefly yesterday the FTSE futures spiked past the 6100 mark up to around 6140 and today also seen it touch the 6100 mark but so far it’s proving to be too much to pass. No I have no idea where the FTSE is heading and I do pretend that I do, but I suspect some movement can’t be far away. The ATR is declining and I suspect it could be lining up for a reasonable move the only question is what direction. If you can get that right then you’ll be well on your way to spread betting millions.
Until next time,
“May the markets be with you!”
Harry,
The Spread Betting Beginner
