Are you profitable? Have you voted yet? If not please do.
With the FTSE 100 closing the day around 5100 it makes me wonder where it is heading next. It would seem as soon as I decide I’m looking for short positions all the market does is move the other way against me. It reminds me of something I read in Sally Nicolls Bets and the City. I think she was having lunch with her editor or something (I can’t remember exactly it’s been a while since I read it) and she was having the same trouble as me. He (her editor) suggested that when she was happy with her research into a stock and was confident to place the trade she should place the trade for the opposite of what she thought. It makes me wonder if that would really work?
I doubt it would. It’s an interesting thought though. If I’d placed all my trades to date in the opposite direction and closed them out at my stop position e.g. to take profit where I was placing my stop I would have all my original capital plus I would be in profit by the amount I am curently down. Maybe I should adopt this strategy and bet against myself. It’s certainly an intersting theory but I suspect it’s just that a theory.
With my daily analysis of the FTSE all share still just about suggesting a down trend I have placed two sell orders for tomorrow. These are:
Name
|
Order
|
Open
|
Stop
|
Logica
|
Sell
|
106
|
108.5
|
Pargon
|
Sell
|
126
|
132
|
Don’t take my posting here as a trade recommendation. The information contained within this blog is for educational purposes only and should not be taken as advice of any kind. The author of this blog will not accept any responsibily for any loss made by anyone acting or refraining to act as a result of reading material contained within this blog.
Both are currently down trending and have pulled back over the last few days.
I guess we’ll wait and see what happens over the next few days/ weeks with the overall market. To be honest I have no clue what is going to happen, I wish I did. If anyone has any idea or an opinion then please let me know.
Is it just me or does this seem like such hard work? Is anyone finding this easy? If you are please feel free to get in touch.
Until next time
“May the markets be with you”
Spread Betting Beginner
I am with you on this theory Trevor, I have not worked the numbers but if I had done this for the month on my sports bets then I would be miles in front
I am sitting on a sell of Tesco at the moment that was taken out 3 days ago, it appears to be going nowhere at the moment, it hasn't got near my stop yet and moved into profit for a milli second today but finished up so I will see where we go for another few days but if the market keeps going up I may bail out of it
Chin up and onwards and upwards as they say
Hi
know what you mean: buy a share and down it goes; sell a share and up it goes! I 've experienced quite a bit of this in just a few short months of trading. I opened several short contracts a while ago and they even went up when the FTSE was falling! Just got to keep going I guess…
Logica and Paragon….
I've looked at the charts and it's a big thumbs up for Logica as a sell. Not too sure about Paragon though because the SP has been ranging between 120 and 170 for over 6 months. I'm not saying you're wrong but personally I would have waited for the SP to fall out of the range at about 110/115 before shorting. Having said that I haven't yet made a profit with a short so what do I know!
Anyway good luck for tomorrow, regards, Alan
Hi Trev,
You said: "Maybe I should adopt this strategy and bet against myself."
— the problem is that it is really difficult to "bet against yourself", because then you start wondering about whether to bet against your bet against yourself.
A better approch might be to make small bets yourself, and get a friend to make bigger bets against you… in secret 😉 Or find someone else's strategy that appears not to be working (http://tradingtrail.blogspot.com) and bet against it. But as soon as you do, it will start to work, and you'll fall flat on your face 🙁
C'est la vie!
What certainly is worthwhile is for anyone placing a trade to always think "What if I'm wrong?".
Being 70% sure of the market direction is no good if you make £10 whenever you're right and lose £90 whenever you're wrong.