My order in standard life executed today. I brought at 185 with a stop set at 172. This adds to my risk by another £13 but I should be looking to maybe move some of my stops soon, in keeping with strategy of course.
I’ve decided to keep my position in BAE systems open. If I had input the buy order correctly it would’ve executed today so the way I look at it now I’m in on the same trade but at a slightly better price. I don’t plan to make a habit of this as I think not sticking to my strategy will have dangerous consequences to my account valuation. To put it simply I may have gotten lucky with this trade, we’ll see if it turns out to be a winner with regards to my strategy.
I have posted a brief reply to DaveG over on spread betting central regarding spotting trending stocks and I want to elaborate further on this here.
If like me you have read any of Malcolm Pryors Books on spread betting you will know how he likes to define up trends, down trends and sideways moves. These are very much open to your own interpretation and are meant merely as a guide based on his beliefs about what various indicators tell him. I think it provides a very useful foundation from which to build. I myself have used his ideas to create some stock  screeners using proRealTimes free EOD charting package. ProRealTime is the only free charting package that I have found that will let you write your own screeners and indicators if you are feeling adventurous. They are relatively straight forward to write but will take some time to learn the syntax used.
With being a software engineer by trade I guess I would say they are relatively straight forward so If you want a hand or any help with writing screeners then please feel free to e-mail me and I will do my best to help you.
Well that’s about all from me for today.
Until next time
“May the markets be with you”
June 3, 2010 by Harry
Category: blog