As I suspected I’ve not had an opportunity to look for new trades today, hopefully tomorrow will be better. My position in Yell stopped out today for a £2 profit. Better than a loss I suppose.

With nothing much else to report I stumbled across some more detail about the guaranteed stops that Capital Spreads, Tradefair, Tdwaterhouse and possibly paddy power trader now offer. I’ve scanned the documet very briefly earlier today and there is that much information, I couldn’t take it all in. If your interested in learning more about the guaranteed stops you can read all about them on the London Capital Group website.

One final note, I would like to say how impressed I am with BigAls trading diary. I wish I could triple my money in less than a year. Keep up the good work Big Al. It’s nice to know that someone is making some money spread betting. Big Al also posts his latest trades which you can see on BigAls latest trades page. He also documents his progress in his daily forum posts, which you can read over on the spread betting forum. How I said keep up the good work Big Al.

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

Unfortunately work is really busy at the moment and spread betting is having to take a back seat. There are no new trades for me today and I suspect tomorrow will be much the same. I just don’t have the time to look at the moment. Things should start and quieten down by the end of the week so I should have more time then.

I didn’t get chance to read back through all the forum posts relating to our new spread betting strategy. Again this is something that I aim to do later in the week. I know off the lip suggested posting a summary of where we were up to and I haven’t even had chance to do that. I did start a web page that details where we are upto but even that is a little behind the pace. I’ll get this update and push this forward later this week I promise.

Oh I don’t know if many of you have accounts with Capital Spreads but I got an e-mail from them today and they have just introduced guaranteed stops. I had the same e-mail from Tradefair so I’m assuming all the companies under the LCG (London Capital Group) brand will be offering guaranteed stops. Don’t quote me on that as I don’t know for sure but I would think logically it makes sense. So I would assume that Paddy Power Trader also now offer guaranteed stops. I don’t know the full details of how much the stops cost but I do know there is a mandatory wider stop distance. For example if you want to go long £1 per point on the FTSE the usual min stop distance is 4 points, with a guaranteed stop this jumps to a min distance of 31 points. I think there may also be an extra premium when you trade with a guaranteed stop but the details are not that clear to me at the moment. If anyone else knows please feel free to leave a comment or let us know in the forum.

One last point there are still places available for my Capital spreads offer. You can read more about that and other offers on my spread betting offers page.

Hopefully I’ll have more trading talk for later in the week.

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