Owner of Harry Ramsdens (Boparan) Bids for Northern Foods - January 24, 2011 by Harry

It’s been a busy day for me trading wise today. My position in Allied Irish bank stopped out for a £9 loss today. Silly trade really with hindsight. No real strategy behind it and yet again I’ve paid the price. Still we live and learn. One new trade today. I brought RBS at 43.525 with a stop at 39, and I’m long £2 per point. Well with my stop so close £2 per point is within my 1% risk tolerance for the trade so I figured I should go for it. It’s a super trend cross over buy and with a recent double bottom in price and I like the look of the chart, the only way is up. Here’s hoping it pans out.

 

Northern foods shot up today after the owner of Harry Ramsdens (Boparan)made a 73p per share cash bid. Good news for me. As far as I’m concerned Greencore and Boparan can battle it out up to £30 a share or more. Ever the optimist hey! You can read more about why Northern foods increased so much on yahoo Finance.

 

I’m still trying to resolve the slow site issues and have removed the forum updates from the main page. I think the forum is slowing down the site for some reason and this would also slow the main page because it contained the updates from the forum. When I have the problem sorted I’ll try and get them added.

 

For the last few weeks/months I’ve been posting almost every trading day. Well I have decided to tone this down for a while. Don’t worry, I’ll keep you updated with all my trades but I will only be posting when something exciting happens, like a new trade or stop out has occurred. The reason being is it will give me a little extra time to spend doing other things. Firstly I’ll be fixing the issues with the site that need to be addressed as top priority and it will also give me more time to spend in the forum and adding more relevant content to the site. When I get these things done and I start to have more time I will probably go back to posting on a daily basis, but until then it will only be if I have something good to write about, rather than the drivel I’ve been writing about lately. I hope you understand this and please do bare with me. Time is really tight these days!

 

Over the next few days can people let me know if they are still having speed issues with the site and when and where they are occurring. You can either e-mail me or post over on the forum in the website feedback section. Any details you can give me will help me greatly in resolving these issues. Thanks for your continued patience and support.

 

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

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