My position in Yell stopped out today for a £10 loss. With hindsight why did I make this trade? I think at the time I said it was a punt and blatant gambling is a sure way to the poor house. It’s for this reason that I will now only be trading my super trend strategy. After reading the original turtles trading rules document yesterday I’ve realised that my super trend strategy could potentially be very profitable in the long run. I just have to take the rough with the smooth. The Idea of the super trend strategy and indeed any successful trend following strategy is to get as much of a trend as you possibly can. The thing is it may take a few times of testing the water before a profitable trend comes along.
Anyway if I post about a trade that doesn’t follow any of my rules in future please feel free to say “Harry, what the hell are you doing?”.
I think the Original Turtles Trading rules document really is an excellent document. There is so much in there that can and should be used to help on the road to successful spread betting. I think there is lots for us to discuss about this document and how elements of it can be used in the new spread betting strategy that we are developing. Therefore I’ve started a new forum topic called “Original Turtles Rules” to discuss it.
I went to the City Index thing I was telling you about last night. Well what a waste of time that was. I thought it was going to be ideas about marketing etc and some useful content for the site but no. It was more us helping them than the other way round. They are very keen to get new people through the door and wanted to hear from us what is required to make that happen. I suggested a few things which I think they liked. Predominantly based around charting and the ability to add screeners etc. Mainly the things that I would want to see a spread betting firm offer for free.
I had a few questions that I have e-mailed to Joshua Raymond from City Index. I’m still waiting on his response and when I have them I’ll get them added to the site.
That’s all for this week.
Have a great weekend everyone.
Until next time,
“May the markets be with you!”
The Spread Betting Beginner