So here it is the eagerly awaited, first of many, Wednesday updates. It’s probably going to be fairly short and sweet as I only updated two days ago but there is some important stuff for regular and new readers.
Firstly I’m trying to get more of an interest in the spread betting forum going again. If you have been on the forum before or are already a member you may have noticed the registered users have dropped from over 400 to 17. This is because 383 members either hadn’t posted anything or were just there to try and spam the forum. I have remedied this by removing the automatic approval via e-mail and now I have to approve all new members. Therefore if you want to joint you need to register, then e-mail me to let me know your user name. I will then activate your account. I’m sorry this is such a palaver, but it’s the easiest solution to stop the spammers. They have been trying to register the last few days but I haven’t been approving them. How I said you will need to contact me for me to approve you. If you have registered in the last few days and would like to be approved contact me and I will sort it out for you.
Existing members may have noticed there are now a lot more forums than there was originally. I’m trying to diversify so that it’s more of a general trading forum, rather than just spread betting. You can now discuss, FOREX, CFDs, Indices & Shares. I’ve started a new topic discussing the FTSE 100 and where it might be heading. So please do feel free to join in the conversation. Everyone is welcome, except for the spammers of course.
Onto my own spread betting activity. Well since Monday there hasn’t been much. There haven’t been many trading opportunities according to my strategy so I’m waiting again. I’m thinking about adopting a new trading strategy. I currently only have the one and although I think it works well for me it’s mainly a trend following strategy and at times like this, when the overall market is going sideways, trading opportunities are few and far between. Therefore I need a sideways trading strategy. Something to see me through the non-trending times. I don’t really know where to start with this and I know the last time we developed a new trading strategy over on the forum it went quite well. Therefore I have started a new topic based on the same idea. The only thing this time is that it’s a strategy for sideways markets only. If you have any ideas or any strategies that you might like to share please do over on the forum topic entitled “A Spread Betting Strategy for Sideways Markets“.
I did make one new trade today. It was a punt based on a news article I read. I saw that Microsoft have unveiled their new Windows 8 operating system and it’s designed to run on products containing ARM chips. Therefore I would think ARM should do well based on this. It will be a while before Microsoft roll out Windows 8 but when they do ARM should be laughing, if they’re not already that is. So I decided to buy ARM at 578 with a stop set at 555. ARM seemed to top out at around 630 before all the recent market turmoil hit, which saw them drop back to lows of around 445. Since then they seem to have formed a new short term up trend which I think could head all the way back to 630. How I said this really is a punt but I thought I’d have a go and see. I won’t be making a habit of this, having a punt, hence the need for a new sideways strategy. I’d much prefer to know where I’m getting in and where I should be getting out. With ARM I know where I got in and I know where my initial stop is but I’m not sure how and when I will be moving it. I think I will probably trail it at the low of the last X days for now.
Anyway that’s it from me for this update. I wish you all the very best of luck with your own trading and I will be updating again at the weekend. I will be over on the forum throughout the week so I hope to see you there.
Until next time,
“May the markets be with you!”
Harry,
The Spread Betting Beginner
