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

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

Exclusive reader offer from Capital Spreads

You lucky, lucky people. As you are probably aware I have been trying to strike up deals with spread betting firms, hence all the ads on the site for the various firms. I have just recently negotiated a deal with Capital Spreads and I have an exclusive offer for spread betting beginner readers. That’s right it’s for you lucky people only. It’s an offer that you will not find anywhere else.

Capital Spreads Offer

So what’s the offer. Well the first 5 readers to click the capital spreads offer link above, open an account fund with £250+ and make 5 opening non-Equity trades will qualify for a £100 top up. You can read the full terms and conditions here. Unfortunately this offer is only open to new accounts to Capital spreads, so if you already have an account with them, like me, you don’t qualify, Boo!

Once again you have to click the capital spreads offer link then open an account to qualify. If you just go to the capital spreads home page and open an account you will not receive the offer. Similarly if you open an account after clicking the terms and conditions link you will not qualify. You need to click the capital spreads offer link and open an account to qualify for the offer. Hopefully that’s clear enough.

If this offer goes well it could be the first of many. If you do have an account with capital spreads I’m also in talks with other firms so keep checking back to find out what latest offers I have for you over the coming weeks and months.

Todays Spread Betting Action

The day started so full of promise. Most of my trades were up or level and Persimmon was up to 447 at one point. That’s 36 points up. Sadly it’s dropped back a bit to the 430 level, which is still up around 19 points. Still if it continues like this for the foreseeable future I’ll be a happy spread better. I’ve had a quick look for new trades but nothing is jumping out at me so I’m happy to wait. My new position in Punch Taverns is still under water but hey I set my stop at 59 for a reason. If it stops out it stops out. Losses are a fact of life for a spread better. Doesn’t mean I like them but I’ve learnt to live with them as long as they are in a controlled manner.

Debenhams has dropped back today. The recent upwards movement that started back in August seems to have stalled and a potential trading range of around 69-77 has opened up. With my stop set at 69 I’m slightly nervous that I will be stopped out and price will rise back to 77. That said I am not adjusting my stop level. It’s set to 69 for a reason and if I get stopped out so be it. The price could bounce back upwards but it could also continue to fall and that’s what my stop is for to stop a loss before it gets out of hand.

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