Developing A New Spread Betting Strategy Continues - January 20, 2011 by Harry

Not great deal to report on the trading front. My position in 3i Infrastructure stopped out at 116 giving my a whopping £1.31 profit. When you figure the position had been open for around 3 months it works out to pretty much £0 with the rolling charges. Still at least it’s not loss.

 

I finally got some time today to summarize where we are up to with developing a new spread betting strategy over on the forum. Take a look and post a reply if you have anything to add or suggest. If your new to the forum then please register and join in the discussion. I’ve noticed we’ve had some new members on the forum of late. I wish I could say they were all genuine but, it seems a few of them are spammers. Still they’ve received and instant ban over my no SPAM policy. I don’t mind people linking to other sites etc as long as it’s relevant to spread betting. Then again I guess some of the drugs one person was trying to link too might come in useful if your stressed about your spread betting not going well, and I’m sure Ugg boots are not relevant to spread betting. Still there only wasting there own time. If you spot any SPAM on the forum before I do please let me know. The filters I have tend to catch most of it but you never know.

 

I think the forum is the reason behind the site being slow. I’m not 100% sure why yet but I’m going to speak to my hosting provider again today about some of the error messages I have in my logs to get the issues resolved. With the main page of the site having a feed from the forum this would certainly affect the speed of the main page and the forum. The rest of the site should be fine and to be honest I’ve never noticed any speed issues with any of the other pages. Please let me know if you have noticed otherwise.

 

No new trades today again. I took a look earlier and there is nothing that fits my strategy. So I playing the waiting game until the right opportunity comes along. I think it’s a game I’m starting to get good at.

 

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

Trading Allied Irish Bank - December 23, 2010 by Harry

Only one full shopping day left until a fat man in a red suit will be heading down your chimney. I hope your all set. I have to say if you’ve left anything to the last minute I don’t envy you fighting your way through the Christmas eve crowds. I’m sure that everyone who reads this is well organised and had everything sorted weeks ago, much like I did. I wish!

 

On to todays trading. With the FTSE not really doing much at all today most of my positions actually did quite well and I made a new trade. My start performer today was 3I Infrastructure. Not sure why, I couldn’t find any news about it anywhere. Still as long as it’s rising I’m Happy. I forgot to mention yesterday that I was toying with the notion of exiting my Northern Foods position early. I was thinking, if the proposed merger goes ahead then I might be better to get out now. The thing is this merger is only a proposition at the moment and is not set in stone. I also read in the news yesterday that the owner of Harry Ramsdens may be planning a takeover bid which would obviously throw the proposed merger out of the water. Therefore I think I’m leaving the trade alone and moving my stop in line with my super trend strategy as was the original plan.

 

My new trade today is in Allied Irish bank. The share price tumbled on news that the government gained the rights to nationalise the bank. With the all time low around the 26 mark I thought it could be a worth while trade. So I’ve brought at 33 with a stop at 24. I’ll be trailing the stop at 1.5ATR on the mid price until break even then allowing the stop to widen to 3ATR.

 

The Regus order that I placed yesterday hasn’t executed so I will be cancelling that. There will be more opportunities along tomorrow.

 

I’ve started a new forum topic, well a competition really. I thought it might be a bit of fun to speculate on the price that the FTSE 100 will finish out the year. It’s open to anyone and the last entry day is the 29th of December. I’ve already made my guess and believe me it really is a guess. If you’re not a forum member you’ll have to join to take part, don’t worry it’s free. There is no prize as I can’t afford anything, but who knows if my trading goes well and this website starts to get more visitors there may be competitions just like this with prizes in the future. Hey I’m allowed to dream!

 

That’s all for today. I’ll post a brief entry tomorrow, probably earlier than usual but I can’t say for sure.

 

UPDATE: It looks like the FTSE 100 has just tipped over the 6000 mark in live trading. Not as spectacularly as I though it would but hey. I think it also went through the barrier in the futures trading last night.

 

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

F&C asset management a good or bad pyramid? - November 15, 2010 by Harry

Another fairly quiet day of trading, well for me anyway. Only really one thing to report and that is my F&C asset management position pyramided today. I’m now long £2 per point with both stops set at 69. The new position was set to buy in at 72 but again good old CMC markets suffered slippage. Still as long as it’s in my favour then I don’t mind it. They’re probably trying to compensate for the massive slippage I faced in EAGA a few weeks ago. Anyway, the new F&C position opened at 71.802. The position is currently sitting around a 10p loss. Hopefully the recent upswing will continue and present more pyramiding opportunities with it along the way. Only time will tell.

 

3i Infrastructure has finally started to move. It’s currently making new highs not seen since September 2008. Obviously the price has spent the last few months consolidating and is hopefully now gearing up for a new move. I just hope it’s an upward move. This buy was more of an experiment than anything else. The price was close to the super trend stop value and I thought I’d give it ago. The stock could be at the price it’s worth but who knows. Maybe the recent move is because of a take over rumour, I wish it was. Hey here’s an idea lets start a rumour that 3i Infrastructure is about to be the target for a take over bit at £10 per share. I wonder would that work? Doubtful, still would be nice if it did.

 

Thanks to everyone with their continued support via e-mail and over on the forum. I really do appreciate it. Offthelip thanks for the e-mail I will get to your request as soon as I get chance. If your wondering what the request was it’s for my super trend construction page. It’s not quite finished yet but it will be soon. When it’s done I’ll post a link on the blog to let you know.

 

One other thing before I go, I stumbled across spread betting forum . Net today. I’ve posted a request over on my own spread betting forum if anyone can help me let me know.

 

 

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

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