Spread Betting Compared | Spread Betting Reviews - February 4, 2011 by Harry

Well I thought I’d write a summary of my week. Not that much to report. There have been no new trades only moving stops. I have placed one new order this week and I have placed a time limit of 2 weeks for the order to execute. The order is for Trinity Mirror. It’s a £2 per point buy order at 65 with a stop set at 60. There is a potential support zone around the 65 mark so I thought I’d place an order. Will it work out, or even execute, who knows!

 

I’ve been keeping my eye on persimmon over the last few weeks. I thought, and still do, that it may be heading back to the price I originally brought in at 340. It seems to have bounced today, probably buoyed by the news that house prices rose 0.8% in in January. I suspect this good news may be short lived so I’ll be keeping my eye on Persimmon. If it seems that it’s heading back to 340 I think it could be a good buy. Now I’ve said that the share price will probably just keep on rising and rising.

 

The more regular readers of you may have noticed that I’ve added a couple of new sections to the site. They are spread betting reviews and Compare Spread Betting Companies. As the names suggest you can now review your spread betting company and also compare spread betting companies against each other. There aren’t many reviews yet, I’ve added a few for the companies that I trade with but I don’t trade with all of them so I can’t review them. If you have a spare 5 mins please add a review of your spread betting company. Good or Bad it could potentially help someone else out a lot when it comes to picking a new spread betting company. I’m still waiting on some info from some of the spread betting companies so the comparison table is not complete yet but I should have the info shortly so keep checking.

 

If you do take a look at the reviews &/or comparison table please let me know if you think it could be improved for the better. If you think there is something missing from the comparison table again please let me know and I’ll do my best to get it added.

 

The FTSE is really confusing me at the moment and I don’t know what to think. I’m not convinced that it will continue nicely upwards past 6000. I’ve been re-reading Technical analysis explained by Pring and in there he suggests a trough to trough market cycle lasts approximately 4 years and a primary trend lasts from 9 months to 2 years. Well if that’s true then it would mean that the recent primary uptrend which has been in force since March 2009 could be about to come to an end. Will that be the case? I have no idea! I am a little cautious though. I guess I’ll just be keeping an eye for now, because I’m the same as everyone else and I cannot predict where the markets are going. As Tony Loton put it the only thing we know about the markets is that they will fluctuate.

 

That’s all for this week. Hopefully I will resume to a more regular update soon.
Have a great weekend everyone.

 

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

Spread betting in 2011! - January 4, 2011 by Harry

Happy New Year! I hope it’s a great year for you all.

 

Well with today being my first day back to work and driving to Germany on Friday(Sigh) things are a little hectic and time is tight. Therefore I think it’s fair to say that I won’t be doing much trading over the next few days. Fear not I should be back on Wed 12th so I’ll be back in business then.

 

Today has been an interesting day for the markets. With the FTSE shooting up around 130pts(as at 16:00) most of my positions rose in sympathy. They could’ve gone higher for my liking but I think that is probably always the case, for longs at least.

 

To be honest there isn’t much else to tell you at the moment. Boring I know, but hopefully 2011 will full of surprises for me and you. There are several things that I am working on relating to the site and it’s going to be an exciting year. I hope it’s the same for you.

 

All that said it’s going to be a while before I unleash these surprises on you, but hopefully they will be worth the wait. January is going to be a busy month from a work and personal point of view but I’ll be doing my best to keep things moving forward.

 

All the best with your trading in 2011.

 

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

Spread betting competition - December 24, 2010 by Harry

Well the big day is almost upon us. It certainly comes round quicker and quicker each year. I wonder what Santa will bring me this year? I think I’ve been a good boy! Not with my spread betting though as I lost a fair amount of money in the first 6 months of the year:-( Still, I’m still in the game and if I can continue my recent performance into the new year I’ll be happy.

 

Not much happening on the trading front today. The markets are fairly quiet and most of my positions have fallen back slightly. No new trades although Regus has pulled back almost to my buy in level of 84. I think I’ll take another look into it and go from there. With the FTSE closing at 12:30 today if it doesn’t reach 84 before then I’ll probably review it again when the markets re-open on the 29th December.

 

Thanks to everyone for taking part in my competition over on the forum, it’s still open until the end of the 29th December so feel free to take part if you haven’t already.

 

It’s only left for me to wish you all a very Merry Christmas. I’ll be posting again before the new year so I’ll save that for a latter date.

 

Merry Christmas everyone! I hope you get all your heart desires.
Harry.

 

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

Managing Risk for Spread Betting - December 22, 2010 by Harry

Well only two full days left until the big day is upon us. Are you all set? I think I am just about. It’s a good job because I’ll be working until the end of the 24th anyway. I suspect the 24th will be a slow day at work. Hopefully it will prepare me nicely for the following week off, Woo Hoo!

 

On to todays trading action. I made a new trade today and placed an order for another. The new trade is in Barratt Developments. Strictly speaking it’s not a super trend cross buy. The cross happened a couple of weeks ago but the price has dipped back from it’s recent high and with a potential support zone around 85 I decided to take a bit of a punt. I say punt because it’s a mixture of entry signals that have caused me to take the trade. I’ll be trailing the stop according to the super trend value and we’ll see how it progresses. I have a stop set at 78 and entered at 87.77 so a £9.77 risk.

 

The order that I placed is for Regus. Buy at 84 stop set at 74. I struggled with myself earlier over this trade. The current price was 85.6 which would put my risk at 11.6 or 1.16% of trading funds. I know this is not going to break the bank but I decided to stick to my guns and keep my 1% max risk rule. I did think about bending this rule slightly as a I like the look of the trade, but if I bend the rule now where does it stop. I know the new trade in Barratt is bending the rules but I think the 1% of total funds is not a rule that should be bent. I’ve done it in the past risking 2%, 3% even up to 5% and all it’s done is lost me money and more quickly to boot. I think playing slightly with new entry criteria is ok in moderation, but altering my risk tolerance is a big no no, for me at least. I’m going to give the Regus order until the end of tomorrow to execute. If it hasn’t by then I’ll cancel the order and look for other opportunities.

 

A quick comment on the FTSE. It’s getting close to the 6000 mark. What will it do? Will it touch 6000 before dropping, will it power through or will it stay at it’s current level? I think the odds of it passing 6000 before the end of the year are pretty good, that said this is the stock market we’re talking about. Something could happen tomorrow that could send it plummeting. I guess the good news is we’ll all find out soon enough.

 

Oh and you may have noticed I’ve made some slight changes to the forum. I’ve added a new category called Technical Analysis & Charts. In there I’ve added a new topic about the ProRealTrend Detection feature. Hopefully you may be able to help me with finding out more about it.

 

I’ve also added a new section which relates to the website. This will enable you to do two things. Either report mistakes on the site that you have spotted or ask me for new features to the website. This would be where you can as me for things like new ProScreeners etc. This way it gives me a to do list of items that need adding to the site. I want this site to become a valuable resource for all spread betters regardless of experience. If you think of anything you wish you had when you first started spread betting let me know. Similarly if there is anything that you think would be useful for your own spread betting now let me know. I can’t make any promises on time scales for any of these things, or even if I’ll be able to do them, but I can promise you I’ll give it my best shot.

 

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

Driving to Germany, Oh and no new trades! - December 20, 2010 by Harry

I can’t believe it’s only 5 days until Christmas. Fortunately we had a load of snow here at the weekend. I say fortunately because I decided to brave the winter weather on Saturday to finish my Christmas shopping. Most other, more sensible people, decided to stay at home. This was great news for me as town was half empty and I managed to get my shopping finished without fighting my way through the crowds. We still have food shopping to do, and I’m not looking forward to that but hey, we have to eat so I’ll just have to grin an bare it for an hour or two.

 

You may remember I mentioned last week that I was organising driving to Germany. Well as of the 4th of December 2010 it’s now a legal requirement to have winter or all season tyres fitted during the winter months to drive in Germany. I only found this out last week and I think I may have managed to get the last set of All season tyres in the UK. As it turns out it was a real stroke of luck with having the snow over the weekend. I got them fitted last Thursday and they are brilliant. My old tyres would’ve been slipping an sliding all over the place in the snow but these grip in and get the job done. I’d definitely recommend them to anyone. I doubt you’ll get any this year but start looking around October next year.

 

Anyway I’ve yet to mention anything about the topic of this blog, Spread betting. Well not much has been happening today. (Hence the story above). I though I may have the opportunity to move my stop in Punch Taverns over the weekend but unfortunately no such luck. So far today everything is not up to much. The FTSE was up around 30 point or so earlier but it looks like it’s going to close the day flat. No new trades, nothing is taking my fancy.

 

Thanks to everyone for participating in the forum and leaving comments over the weekend. Spread betting trader, as Offthelip has said, I don’t think you can trade using the old market maker platform if you open a new account. I think CMC are only taking new clients on there new platform, which for them obviously makes sense. I think from a new customer perspective it’s probably best to wait a while before opening an account with CMC. To be fair it has come on in leaps and bounds since I opened a new account with them in August. I personally think there is still a long way to go before it’s up to scratch. When I spoke with them on the phone there was no clear date for when the old platform will be stopped. I think if they decided to stop it too soon they would loose a lot of customers. The guy I spoke to basically said they will no longer be adding new features to the old market maker platform but they will be maintaining it for the near future. I’ll keep you posted as and when new features are added to the new CMC platform. They do have tighter spreads and lower margin requirements than the old platform but I don’t necessarily think this is enough to temp people across. I mean after all, what is the point of tighter spreads if you experience more slippage?

 

I’ll try and get some time to spend in the forum myself. I need to have a think about some possible solutions for trailing our stop. The trouble is knowing what to do for the best. Still even if we come up with a solution and then decide to modify it, that’s ok. It’s meant as a learning exercise anyway which is what we are all doing by participating.

 

Right that’s all for today. Hopefully more to report on the trading front tomorrow.

 

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

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