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

What will Yell do? - November 9, 2010 by Harry

Another fairly quiet day today on the trading front. It’s sods law that I sold out of my bank of Ireland position yesterday at pretty much the low of the day. Still I’m out of it now and that’s that. There will be other opportunities.

 

My Yell position stopped out today at 12.74. Another example of slippage in action although this time it was a lot less drastic than when it happened to me with EAGA. Persimmon is ticking over nicely. As I write this it’s currently around 372. If it stays this way until the end of the day I will be able to move my stop on the position. I’m currently employing a 1.5x ATR(14) trailing stop. Last time I checked this put my stop around 17.5 points away from price. It may have changed as the ATR is calculated based on the price movements. Still We’ll see what happens at the end of the day. I can’t tell you what the new stop level might be but you can always check my open trades for the latest figures.

 

I’m not sure what to do about Yell at the moment. I quite fancy it as a potential riser. I think I may hold fire. Possibly place an order to buy at 10p with a stop set at 0. Don’t know yet. I’ll have a think and see what I want to do over the next few days.

 

Most of my other positions aren’t upto that much. F&C are up a few points so I may be looking to move my stop on them again later. All the others seem to be treading water at the moment, which is fine as long as they shoot upwards afterwards 😉

 

Thanks to bigAl60 for his latest update on the forum. It will be interesting to follow a fellow spread bettor to see how it pans out for him over the coming months.

 

I have also started a couple of new topics on the forum myself. They relate to Spread betting strategy development and spread betting tips that you can share with others. When I say spread betting tips I’m not talking BUY BP @ 350p more useful tips and tricks that you have learnt on your own spread betting journey. My goal for both of these topics is to eventually turn them into extra content for the site so all new comers or “Spread betting beginners” can learn from our collective experiences. So if you do get chance please take a look and add whatever extras you want to.

 

Reading Tony Lotons blog I see he has also spotted spread betting traders blog. It will be very interesting to see how it pans out over the next few months. I’m sure Tony himself will be watching with an eager eye.

 

Spread betting DVDs

 

 

 

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

A tale of two stops - November 3, 2010 by Harry

The day started so full of promise, then the markets opened. My EAGA position was sitting with a healthy £7.4 non-guaranteed profit at the close of trading yesterday. Non-guaranteed being the operative word. The stock opened down and continued to fall. I was stopped out at 8:05am at a price of 59.2, well below my stop price of 64.69. Yet another example of slippage in action. Fortunately I exited at a profit even if it was only £1.91, better than a loss any day.

 

 

 

 

get in touch.

 

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

Trailing stop on EAGA - November 2, 2010 by Harry

Not much to report today. Thanks to Alan for his forum post again yesterday. You can read it here. Unfortunately I am going to be making some changes to the forum over the coming days so I will not be taking any new registrations. I apologise in advance to anyone that wanted to register today. You will be able to register again when I have made the improvements, hopefully they will be worth the wait.

 

EAGA is turning out to be my start performer. I still have a trailing stop of 6pts set on this and I currently have £7.4 locked in. Not mega bucks but when you consider this is nearly 2x my initial risk it’s not too bad going. Persimmon has crept up a little bit today as well. Hopefully it’s the start of a nice rebound to 400 or higher. I may look to trail the stop on this but I think if I do it will be some factor of ATR rather than just an arbitrary 6pts as is the case with EAGA.

 

Everything else is not up to much really. I’ll check them all later to see if I can move the stops based on the super trend indicator.

 

That’s all for today. It’s a short post I know. With having the new forum to do, and work and keeping the family happy there’s a lot to do at the moment.

 

Thanks to “M” for the e-mail about my rant yesterday. I’m glad someone has the same view as me. Also thanks to another “M” asking about proScreeners. I’ll try and get onto your request at the weekend when I have more time.

 

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

How to become a millionaire! - November 1, 2010 by Harry

Well it looks like all our prayers have been answered. Vince Stanzione is going to make us all millionaires. All we need to do is invest £197 in his trading system.

 

I was reading a forum post over on spread betting central and I seen Vince himself has posted and included a link to his winning formula website. Now I can’t really pass comment on his trading system and I’m sure he’s made more money spread betting than I can ever dream of making, but all these trading system sites look the same too me. No offense to Vince but the design of all these sites just screams rip off. Also if Vince has made the millions that he claims why does he need to charge £197 for his trading system? Why not just keep making millions and millions spread betting? Or why not give away the information for free and do some other people some good since he has more than enough money any way.

 

Sorry for the rant, it just those sort of sites are all the same. It starts with an introduction, then its explains how you can do the same. Then it’s all the reports of other people copying them and making huge sums of money. Then come the copies of bank statements showing us proof of the money. Then the videos of all the people that have copied them and made a 90% return in a couple of months. The thing is they leave out all the bad parts. What about the people that have lost 90% in a couple of months , well it’s probably because they didn’t follow the system properly, right!

 

If I personally had made millions from spread betting I would share how I did it. You never know you could be witnessing the very start of that story. Not very probably but certainly possible.

 

Anyway enough about all that back to the business of trading. You may remember I said on Friday that I tried to move money from my old CMC account to my new one. Well for whatever reason they couldn’t do it and they still haven’t so my persimmon order didn’t exectue at my price of 341 because of lack of funds in the new account. I opened it in my old CMC account at 339.25. Saving myself a whopping £1.75. Still it’s a saving at least. My stop is still set for 331 so I’m only risking 8.25 rather than the £10 originally planned.

 

All my other positions are taking care of themselves. Debenhams has dropped back a little but EAGA is ticking up nicely. Interestingly I’ve just checked the chart for Persimmon and 339.25 is the same low price that was hit on 20/8/10, maybe it’s fate, or probably just pure luck.

 

I’m trying a fixed price trailing stop on EAGA currently set to 6pts. I’m keeping it tight for now until the position moves more into profit. I think I may look to employ a trailing stop based on ATR possibly 1.5x the ATR(14). I’ll leave it as it is for now and take a view on this over the next few days.

 

UPDATE: I’ve been looking at my open positions page (Which I’ve renamed spread betting trades). I think the new name makes more sense. Anyway, I’m not sure if I’ve done the right thing regarding the stop value. I am currently updating this when I move my stops. Should I just leave this as the original stop level? This way it will be possible to see the initial risk and the final P/L rather than just the final P/L? What do people think it’s best for me to do here? Please let me know. You can either leave me a comment below or contact me. Thanks!

 

ANOTHER UPDATE: I’ve only just noticed that bigAl60 has started his trading journal over on the forum. Incase you haven’t read it you can check it out here. If you want to reply or add a comment to his post then you will need to register here. Please do read his journal. It makes better reading than my trading at the moment!

 

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

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