I Spread Bet a hunch on PV Crystalox the other week and boy what a mistake it was. I don’t know how many times I’ve made the same mistake. I think it’s the old over trading me coming back to haunt me. I hadn’t made a trade for days and I read a news article about solar power, so I started thinking hmm, solar power is probably going to be pretty big as we try to move more towards renewable energy sources. The only company I could think of that make Solar power items was PV Crystalox. Therefore I bought into them on the back of my Spread Betting Hunch. Sure enough the stock is in down trend and the stock plummets to new all time lows stopping my out and I lost £15 to boot. Ok so it’s only £15 and it could’ve been a lot worse, but still it’s difficult enough trying to find a trade to make £15 without throwing away good money on a stupid spread betting hunch. So the lesson to take away from this is stick to your trading strategy and don’t deviate from it. It’s tough, as I said I’ve made this mistake several times before but my goal is to make this the last time. No more hunches, just trades according to my strategy.


I made a new spread bet yesterday on TUI travel. It’s a long trade at £1 per point at 224.49 with a stop set at the super trend value of 210. Other than that I’ve been manually adjusting my stops where necessary and checking for new trades every day. So far there haven’t been many coming along that meet all my entry criteria. There was one the other day but the risk was way too high for me so I passed up the opportunity.


In other news the FTSE100 competition winner will be announced at the weekend after the FTSE closes on Friday. It’s looking like it’s a two horse race at the moment but as we all know with the FTSE100 anything can happen.


Until next time,
“May the markets be with you!”
The Spread Betting Beginner

June 29, 2011 by Harry
Category: Spread Betting Strategies