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!”
The Spread Betting Beginner

Persimmons Interim Dividend! - December 14, 2010 by Harry

With another day drawing to a close I have a little more time to write a more detailed post.


Persimmon are up to around 425. Woo hoo! Sadly it means nothing to me. As I expected my position stopped out. I’m not disappointed I still made over £50 on the trade, but it’s another lesson that I’ve learned the hard way. Both my positions stopped out at the open of the day. The interesting thing is one suffered slippage, but the other didn’t. What’s really fascinating is that they were with the same company. The first position was with my old CMC markets account and the second was with my new CMC markets account. The first (OLD) position stopped out at 405 as expected, the other stopped out at 401.79. So over 3 points slippage. That’s around 0.8% slippage. Quite a lot when you think about it. Oh and I still haven’t found out from them what’s going to happen with Northern Foods. I have to say I’m not that impressed with them. So why haven’t I moved? Well I said I’d give them until at least the end of the year before deciding and at the moment time is that tight I can’t be bothered with the hassle of with drawing the money and moving it. That said I may look to move part of it back to Tradefair or capital spreads.


I read some of the news for Persimmon and I probably could’ve avoided being stopped out. Apparently their Interim Dividend Payment Date was today. I’m assuming this explains the drop in price. I think from now on I will check each of my open positions for relevant news like this at the end of each week. If I had known about this I probably would’ve committed the ultimate sin of spread betting, lowered my stop loss. Only slightly though, to allow for any dip in price and not be whipsawed out of the trade. Still you live and learn. How I said I still made money from the trade so I haven’t done too bad.


My dimension data position stopped out today. From what I can gather because they were taken over a while ago, today was there last trading day. I was sold out of the position for a £1.40 profit which more than covers the financing charges(only just). Still better than a loss.


I’ve run some quick figures on my open positions list and I’m just about in profit on my closed positions. With the remaining open positions showing a locked in profit of around £20. Maybe this is the beginning of winning ways for me. I still have a very long way to go before I recouped all I’ve lost on my spread betting journey so far, but with time, patients and hard work hopefully I’ll get there. I certainly agree with the statement “Spread betting is a Hard way to make an Easy living”


As far as I’m aware there are still palaces left for my Exclusive reader offer with Capital Spreads. So for any one wanting to open an account with them you can find more information about this offer on my spread betting offers page.


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

Will my Persimmon pyramid hold? - December 13, 2010 by Harry

Todays a very brief post I’m afraid. I’ve got a load of work that needs doing and I’ve been trying to organise driving to Germany in January. I’ll explain more about that when I have more time.


Todays action. My main mover today is Persimmon. It was up and I was thinking I’d caught the retracement perfectly, but sadly the price has spent the afternoon in decline. Currently around 407 it came tantalisingly close to stopping me out hitting 405.47, 0.47 off my stop price. Still if it stops out so be it. That’s what the stop is there for. My main concern is if it closes the day so close to my stop will I suffer slippage tomorrow if the trade moves quickly against me when the markets open. We’ll find out tomorrow I guess. It could work the other way and move rapidly in my favour, best not to think too much about it I guess.


That’s really all for today. How I said I’m snowed under with everything at the minute. Hopefully I’ll have more time to post tomorrow.


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

Pyramiding Persimmon - December 10, 2010 by Harry

With the week drawing to a close I’m looking forward to a few days off over the weekend. It’s been a busy week with family, work, trading and running the website. I suspect I will put some time into the site over the weekend (if I have any). I have a few new ideas so I’ll keep you posted with updates as and when they happen. I added the stock screener for my super trend strategy last night. You can get the code for the screener here. Obviously you will need to be registered with proRealTime to use it. Their EOD service is free so check it out.


Before I get into todays action I think there is still some places available for my capital spreads offer. If you want to read more about the offer you can here. With not having a huge following I suspect there will be a few places left for a while. I’ll let you know when they’ve all been taken. I’m working on exclusive offers for you with other firms so keep checking back for the latest deals. I’ve also added the capital spreads offer to my spread betting offers page so if you keep checking that you’ll always be up to date with the latest offers. That said when I do get a new offer I will post on the blog about it first before I add it to the offers page. Hopefully it will keep you reading, not that you are reading for the offers anyway. You enjoy the fun and informative posts that I write. Right? 😉


Onto todays trading. I established a new position in persimmon. With my stop set at 405 (1.5ATR on mid price) I have locked in £65 profit on the original trade. I set a buy order at 415 ( it was filled at 414.8 after slippage) with a stop also set at 405. Therefore I potentially have £55 locked in over all. £65- £10 = £55. So why 415. Well looking at the chart this could possibly be a support zone. Price reached this level before falling back creating a resistance zone back in October. With price now passing that level it could potentially become a support zone. The theory here is that price will bounce off this level and continue its recent upward trend. How I said that’s my theory, if it will pan out like that is another story. If it does rise back to the most recent high of 450ish then I’ll be in at £2 per point instead of just one from 415 onwards. Will it hold, who knows? I think it’s worth the risk to try and find out.


That’s really all that’s been happening on the trading front for me. No new trades. With the whole market quite subdued I’m hoping for some movement next week. Hopefully this movement will be in my favour.


Oh and one last thing I’ve written an article over on Ezine articles. It’s the first one of many I hope. If you fancy a laugh you can read it here. You will also learn my surname if you are observant enough but shush, don’t tell anyone. Some people probably still think I’m Tony Loton.


I hope you all have a great weekend, and just think it’s only two weeks until Christmas eve, man this year has flown past.


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

Two new spread bets in one week! - December 8, 2010 by Harry

A pretty mediocre day in the markets. Not much happening. Most of my positions fell back a little. Persimmon fell a few points (currently down around 4 points). Still I can handle a 4 point drop if it’s preceded with a 30 point rise. I could definitely get used to it 😉


I’ve made another new trade today. I can’t believe it two trades inside a week. I waited ages for a trade then two opportunities come along at once. The new trade is Punch taverns. It’s a super trend cross with a possible bounce off support. I brought at 67.2 with a stop at 59. Luckily for me I brought just before the price dropped 2 points, doh! Still if I new it was going to drop I’d be a millionaire already.


There isn’t really much else to report for the moment. Which is probably a good thing as I don’t have much time anyway. I posted on the forum to try and keep the new spread betting strategy moving along. Let me know what you think about my suggestion. If you want to join in the discussion you need to register on the spread betting forum.


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