Sorry for the short but sweet post yesterday. With Christmas fast approaching time is tight. Work is busy as well and I don’t see that changing for the near future. If the posts get a little shorter, or more boring (hopefully not) please bear with me. With the site being a hobby for me I can’t really justify spending time on it at the expense of something else in my life. Maybe that will change one day. Always the dreamer hey!


If you want to help me to get more time to spend on the site you can. All you need to do is, when you want to open a new spread betting account is check myspread betting offers first. If I have the company listed click the link and open an account, it’s that simple. I only have spreadEx, SpreadCo and paddy power so far but this will increase over the coming months so keep checking the spread betting offers page. There’s a link to it on the right hand site of the page.


On to todays spread betting action. With the FTSE rattling up around 40 points or so I’m asking the question “Will the FTSE pass 6000 before the end of the year?” Well as always I have no idea but if it can pass the most recent high of 5900ish I think it has a good chance. Will it be over 6000 at the end of the year? Again who knows. I suspect it will pass 6000 fall below 6000 before passing 6000 and continuing upwards. It always seems to do this around the big round numbers. Take a look at the price action back in may. It closed below 5000, before rising above 5000, before falling back below 5000. Ok so the price didn’t continue to fall but the same pattern seems to emerge around these large round numbers. Just so you know I’m not suggesting this a trading strategy or any kind of advice it’s merely an observation I’ve made over the past months/years that I’ve been spread betting.


Most of my positions fell back a little today with one big exception. Persimmon rattled up over 30pts to close the day at 416.79 (according to my spread betting firm). That puts me a whopping 76.79 points in profit. I have to say I had itchy fingers again today. I could quite easily take the profit and run, but I wont. I’ve made that mistake all too many times in the past. Exit the trade too early and miss out on big profits. My most recent occurrence of doing this was with ARM holdings. Although it’s not listed in my spread betting trades, I brought ARM back on 12/2/2010 at 201. They closed today just under 400. That would be nearly 200pts profit and if I’d pyramided along the way who knows where I would’ve ended up. Actually you can see my open positions on my old site. Scroll all the way to the bottom of the page.


ARM holdings the one that got away. I actually closed the position to free up funds in the account with a view to re-opening it again. Big mistake, as soon as I closed it the stock continued to rise and I missed the boat. Still it’s all been a valuable learning experience.


I’m hoping I’ll be moving stops tonight again. I’ve decided I will trail Persimmon at 1.5xATR until I have the target price of 410 locked in. After this I am going to let my stop widen to the super trend value to make the most of any further price move. If I get the opportunity to pyramid along the way I will but only according to my super trend strategy. Funny how this started as a support level buy and could end up following my super trend strategy rules. Oh the joy of spread betting.


Right that’s it for today. I still have some work to finish before the end of the day. How I said if you want to help me get more time to spend on the site, all you need to do is visit spread betting offers when you are thinking of opening a new spread betting account. If the company is listed click the link and open an account. I’m hoping to get some exclusive spread betting beginner reader offers for you. If I do get any I’ll let you know. If I start getting more visitors there is more chance of getting good deals for you so tell your friends, family and even the dog. Unless your a cat person of course.


Until next time,
“May the markets be with you!”
Spread betting beginner

December 7, 2010 by Harry
Category: Spread betting firms
Tags: FTSE, spread betting, Spread betting offers