Spread Betting Ladbrokes - January 13, 2011 by Harry

Works still really busy while I play catch up after having a few days off, so I don’t have loads of time to spare today.


I had one stop out today and made one new trade. Firstly the stop out was in Debenhams. I was stopped out at 68.696 so yet again I suffered slippage. I know it’s only 0.3 points but still it all adds up. This was in my new CMC account where I have suffered some of the worst slippage in terms of how frequently it occurs. The new CMC account does have reasonably tight spreads but even so I’m not sure if this makes up for the amount of slippage I’m suffering.


My new trade is in Ladbrokes. It’s a super trend buy at 128.7 with a stop set at 122. I decided to open this position in my Tradefair account. Although the spread was slightly larger I seem to have suffered less slippage with them than CMC so I thought I’d place the trade with them instead. I liked the look of Ladbrokes and although the share has been in a slight down trend there is a potential double or even triple bottom formation with the low made back in July, the end of November and the most recent low made at the end of December. So this is all in keeping with my strategy. Will it pan out ok? Well only time will answer that question.


I’ve added a new section to the site called market comments. This is basically some comments from Capital Spreads and SpreadEx about what the markets are doing. Some of it makes interesting reading and I thought you might like to read it so I’ve added it to the site. This should be updated everyday but it’s really out of my hands as it comes from Capital Spreads and SpreadEx themselves. I usually get the commentary in the morning so as soon as I get it I’ll add it to the site.


Thanks for the continued feedback about the speed of the site. I suspect it’s something to do with my hosting provider as some days it seems fine others it’s really slow. I’ll be contacting them about sorting it out so hopefully I’ll get this sorted ASAP!


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

A spread betting confession - November 26, 2010 by Harry

I have a bit of a confession to make. I’ve kind of taken my eye off my trades this past few days. With updating the site, work family etc my spread betting has been neglected. Fortunately it’s turned out ok so far but it could’ve easily been much worse and still could get worse. It’s something that I need to sort out for myself. I think I need to give more time to my spread betting and update the site when I get the time. Don’t worry I’ll still be blogging regularly but adding more to the rest of the site might take a bit of a back seat for now.


So what has happened. I have a new position in Persimmon. I thought I’d posted previously that I placed a buy order at 340 with a stop at 330, but I can’t seem to find it. Anyway I placed the order and it executed on the 23rd of November. I checked the charts today and the super trend value is 337.06 so I’ve moved my stop to 336. So I currently have a £4 risk on this position. It’s a support buy, pretty much the same as I did previously. If I had been checking the charts properly recently I would’ve also seen that It came close to the super trend level which is also a buy signal for me. Anyway so far it’s turned out ok. I think it’s currently £17 in profit but I have an open risk of £4 and I will trail the stop based on the super trend value. Here’s hoping price recovers to its 2007 high of around 1500 a share. Not very likely but hey, you never know.


Other than that I think the rest are taking care of themselves. My pyramids are holding up so far and I’m hoping before too long I’ll be moving stops on them to start locking in profit.


I’m actually quite surprised that most of my positions have held up today considering the FTSE has tanked nearly 100 points so far today. Maybe I’ve spoken too soon. I hope not!


Oh and in case you were wondering if I’ve heard back from my spread betting firm (CMC markets) about the Northern foods merger question. You probably know the answer already. No! Not a great advert for their customer service I have to say. Still maybe there is a reason behind it. Maybe my e-mails are caught by their SPAM filter. I don’t know. When I know more I’ll let you know.


Have a great weekend everyone. I’ll catch you all Monday. Unless I see you in the forum before then. Thanks again to everyone joining in the new spread betting strategy topic. It’s certainly got people thinking.


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

Developing a new spread betting strategy! - November 25, 2010 by Harry

I don’t have a lot of time today so this is going to be brief.


Firstly a big thank you to everyone that is participating in developing a new strategy over on the forum. If you want to join in the fun please feel free.


Off the lip I’ve seen your latest post but don’t have time right now to read it properly. I’ll try and take a look later and then post a reply rather than rushing it now.


Most of my positions have risen today. I’ll check later if I can move any stops. Debenhams and F&C pyramids are both doing nicely. There’s a long way to go for both of them but hey they have to start somewhere. No new trades, nothing is jumping off the page at me lately. Maybe tomorrow will be different.


That’s all for today, Told you it would be brief.


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

What will the FTSE do? - November 16, 2010 by Harry

I can’t believe another day has come and gone. The time today has just flew past. Yet again not too much to report from me trading wise. Debenhams pyramided today. I set a buy order for 70, which was filled at 69.901, slippage yet again. My stop on this trade is quite tight at 68. So far my F&C asset management trade is holding up. The spread bet has just moved into a slight profit, hopefully the current pullback has ended and is now ready for a leap upwards.


3i Infrastructure is up a bit again. I should be looking to move my stop on this position. This trade was a bit of a test, as they all are, of a strategy using the super trend indicator but not my super trend cross strategy. The price was close to the super trend stop price (within 3%) and it has been consolidating for a while. Hopefully the price will continue to rise. Maybe it’s the rumour that I started yesterday about a 3i take over bid? Who knows. Just so you know, I have no idea if there is a take over bid on the table etc. aor am I affiliated with 3i in anyway. The rumour is supposed to be taken in humour. Well would you look at that I’m a poet and I don’t know it.


Taking a look at the FTSE it’s not looking good for it getting past 6000 by the end of the year. I would assume all the EU bailout talk has rattled the markets which is why it’s taken a nose dive. Bad news for my pension, but hey! If I could predict where the FTSE was going to go and when then I’d be a rich man. The sad fact is I can’t and no one can.


I’ve just had a look for super trend cross stocks and there are 27 today. Quite a lot compared to the usual 5 or 6, yesterday there was only 1. Most of them are selling opportunities, hardly surprising considering the FTSE tanked today. I’ve yet to take on a short opportunity using my super trend strategy, maybe today will provide me with an opportunity. I’ll take a look later and let you know.


Personally I still think the FTSE will pass 6000, but before the new year? Well now I’m not so sure. The thing is this correction in the FTSE is long overdue. It hasn’t corrected itself much since the low of around 5100 back in august. I think things could be shaky for the next few days, after which I think things will start to settle down again. But hey what do I know! The FTSE could fall to 3000 tomorrow for all I know.


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

888 stopped out & a potential pyramid for Debenhams - October 28, 2010 by Harry

Not too much to report on the trading front. 888 stopped out yesterday for an £0.08 loss. My new position in EAGA is about £5 in profit so fingers crossed for that one. Debenhams has slipped back slightly from it’s high of around 77. It would seem that Debenhams is pulling back a little from it’s recent upward swing. I have placed an order to buy in another £1 per point if the price re-traces to 70p. I’ve set a stop for this new order at 69p so it would be risking £2 of the £7 I already have locked in.


This potential pyramid is a new addition to my super trend strategy. If the price retraces within 3% of the stop out price then as long as the position is enough in profit I can pyramid the position. I think I may need to think more about how much the position should be in profit before attempting the pyramid. Maybe I am being too keep to pyramid again here, but I think it’s worth a try. The trade may not even execute as the price needs to fall 5 points or so before it does. I’ll keep you posted with what happens.


Thanks to Alan for his comments again the other day, and for posting on the forum. I certainly would be interested in reading his trading journal. I think the more shared experience the better.


It’s a short post today as I’ve been busy with work and will not get much time this evening either. If I get time I’ll have a look for some new trades later, but the way it’s going at the moment I doubt I’ll get the time. If I move my stops you can check out my open positions and see them there.


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

Spread Betting Beginner