Still no spread betting from me. I keep checking for new opportunities but at the moment nothing is coming along that fits with my strategy so I’m still waiting. While I’m out of the game, so to speak, I’ve been keeping my eye on my closed out Britvic position. As I said before it closed out because of my fat fingers but I wasn’t too fussed as it closed out at a good profit. Well as soon as the position closed out Britvic immediately recovered. I closed at 356 and it recovered upto a high of around 380. Now when I seen it was 380, I was thinking to get back in, however I didn’t because my own emotions came into play far too much. I started to think, what if the price continues to rise from here and I wish I hadn’t bothered. So I left it alone. So what happened then. Well of course the price started to drop again. Then it had a rest around 366 and I was still considering to get back in but didn’t and today the price has hit new lows of 348ish. So now I’m leaving it well alone.
I think the lesson to take away from this is firstly don’t make fat finger trades. If you do make a fat finger trade and you can get back into the trade at a better position than you accidentally closed out you should. Don’t think about it just do it. The fact is that my trade closed out not according to my strategy. Therefore the strategy was still in play even if the trade was closed. So I could’ve got back in if there was an opportunity at a better price and left it alone if I could only get a worse price. Now I can only get back in at a worse price and so I’ll be leaving it alone.
In other news I have a copy of Malcolm Pryors new book to give away courtesy of Global Investor Bookshop . It’s the second edition of his best selling Financial Spread Betting Handbook. Personally I loved the first edition of this book. It was the first spread betting book that I ever read and it’s just packed full of so much information it was worth every penny. I’m only about a quarter of the way through the second edition but so far it’s just as good and even more relevant than ever. If you would like to get your hands on the free copy I have to give away all you need to do is guest post on the blog. It can be about anything you like, so long as it relates to spread betting in some way. The more regular readers will be aware that I’ve been running this promotion for a while with another book: The Naked Traders Guide to Spread Betting. It would seem that I can’t even give this book away. Obviously no one is interested in Robbies book. Hopefully Malcolms new book will spark a little more interest. If you would like to get your hands on a free copy just e-mail me and I’ll arrange for you to post on the blog.
Other than that, have a great weekend everyone.