Mid Morning Matters with Alan Partridge - November 12, 2010 by Harry

Well after a rocky start to the day it would seem that the FTSE will be possibly be closing around the same price it opened. With the sharp drop in the FTSE this morning came the inevitable stop outs. Although I only had one stop out, persimmon stopped at my level of 354.63 precisely, no slippage this time. The price has recovered some since then and is currently around 357. If it continues to rise from here then so be. Another opportunity will be along shortly. I am thinking to place the same buy order for persimmon again. It would seem the support zone I identified held up and could do so again. I’ll have a think over the weekend and see what I want to do.

 

My order for yell executed this morning, I did suffer some slight slippage here although this time it’s in my favour. I set my buy order for 10p and it was filled at 9.996. That’s right I saved 0.004p. Get in!. Which at £1 per point is £0.004. I really don’t understand why the spread betting firm have such accurate pricing. I guess if your trading at £10 or even the maximum £60 per point on yell then it makes a bit of difference. If you can afford to trade at £60 per point on a spread bet are you really going to be bothered about £0.24. Probably not. Anyway I digress, So Yell kicked in at 10p with a stop set at 2p, so £8 risk. It’s not super trend buy I’ve just bought it because it looks very cheap, more of punt, which is why I will be tightening my stop when I get the chance. I will probably look to trail at some factor of ATR(14) probably 2x. You can check my open trades later to see what the new stop level will be. I don’t even know it myself yet.

 

F&C and Debenhams came tantalisingly close to pyramiding today. F&C is set to buy at 72 and Debenhams is set to buy at 70. These are both within 5% of the super trend stop which is part of my super trend strategy. I’ll try and get this finished/typed up at the weekend so I can add it to the strategies section. Just depends if I get time or not.

 

Thanks to Stevie and Spread betting trader for leaving comments. Stevie I’ve answered your question over on the forum. I know I keep pushing the forum but please do join. It’s a great way to share your experiences and information and also learn about others experiences and mistakes so we can all avoid making the same ones.

 

On a complete side note to all things trading I was cheered up when I seen that Alan Partridge has a new online series sponsored by Fosters beer. I don’t know if you like Alan Partridge but I loved the two TV series. The new series doesn’t seem as good as the TV series but it’s still funny in parts. The video should be below if you fancy watching it.

 

 

That’s all from me. I’m not sure if I’ll get chance to update over the weekend, just depends if I get time or not.

 

Have a great weekend everyone.

 

 

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

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