Realising Profits - December 15, 2010 by Harry

My positions in F&C Asset management both stopped out today for an over all profit of £20. Not too bad considering I only initially risked £6ish on the original trade. Obviously these profits are not mega bucks but hopefully one day they will be.

 

The interesting thing is I suffered slippage yet again in my new CMC account and none in my Old CMC account. Alright it wasn’t a massive amount about 0.3 points but still. It does make me wonder quite what is going on. Hopefully I’ll find out soon enough. They tried to call me today but it rang off before I could answer. I was getting new tyres fitted for driving to Germany in the new year, which is a whole different story.

 

As it stands I have 7 £1 per point positions open. I happy enough with that until a new trading opportunity presents itself. I don’t really have much else to report today. Hopefully CMC will call me back and I will let you know the outcome of all the questions I have for them.

 

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

Chesapeake Energy Corporation (CHK) - November 11, 2010 by Harry

Another quiet day on the trading front. The most exciting thing that happened all day is Luminar stopped out. My stop was hit at 15p (no slippage this time) so I made a whopping £0 on the trade. Still better than a loss, and because the share is so cheap I’ve paid £0 in rolling charges the whole time it’s been open. So it was a scratched trade. Tomorrow is another day. More opportunities will come along.

 

Speaking of opportunities I had a phone call today from Alexander Stark of ENEQ investments. Basically trying to get me to invest in the stock that they believe is the next big thing. It could well be but If the guy thinks he can just phone me and expect me to be signing over a few grand of my hard earned £££s then he’s got another thing coming. The thing is he told me the name of the company they are tipping, so why would I bother to give him my money to invest and let them take their 3% cut of any profit I make. I’ve got it on my watch list with my spread betting company to see how it performs. It will be interesting to find out.

 

Oh in case you were wondering what the stock is I’ll tell you if I get two new members on the forum by tomorrow. Or Should I just tell you now? Ok I’ll tell you now but please do go and register on the forum if you haven’t already. I’m sure in the long run it will be well worth it.

 

The company they are tipping is Chesapeake Energy Corporation (CHK). I know what your thinking, never heard of them. Neither have I. They are a US energy based company. They basically find oil and Gas etc. Apparently Shell have recently acquired a 25% stake in them and another company have supposedly expressed interest in them, so they could be a take over target. To be honest what the guy said to me on the phone all makes perfect sense, and I can see why it could potentially be a good investment. The thing is when the guy is telling me all this it just sounds as if he’s reading his set list that he reads to everyone. He said he would call me back and I had over 10 missed calls in one hour which to me just makes him seem a little desperate to part me with my cash. I decided on the back of this to just ignore his calls from now on. If there’s one thing that I’ve learnt through spread betting for the last 18 months or so it’s that there is no such thing as a missed opportunity. There will be another opportunity that comes along tomorrow and who knows it could be even better.

 

That’s all from me today. It’s only left for me to thank Alan again for his forum posts. You see you come to spread betting beginner.com for a blog from one spread betting beginner now you have two. Please show bigAl some encouragement, join the forum and post a comment on his trading diary.

 

 

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

Stop loss based on ATR - November 5, 2010 by Harry

Well it’s the end of another week. Is it just me or does time really seem to fly past these days. It’ll be Christmas before you know it! I must be getting old I think.

 

On to the matter of trading. I had an old order execute today. I’m not sure if I posted about it a while ago but I placed an order for the bank of Ireland. Buy at 44 stop at 34. I identified a possible support level dating back to march 2009. The thing is looking at the chart now I’m not so sure about the trade. The support level doesn’t look strong enough to bounce off. With this in mind I think I will probably look to exit the trade as soon as I can on Monday morning.

 

You’ll be glad to hear that I have come up with a solution to my stop issues for persimmon. I have decided to employ a trailing stop at 1.5x ATR(14). When I decided this the price of persimmon was around the same as the open price so I moved my stop accordingly. You can see my new stop level on my spread betting trades page.

 

When the day started I thought it was going to be another good day of gains for persimmon with it heading up to around 371. Sadly the day did not finish how it started and the position ended up closing the day slightly down. Still the position is still open and Monday is another trading day so anything can happen.

 

That’s really all from me for today. I hope everyone has a good weekend.
I may make further updates to the site over the weekend so keep checking back to see what’s new.

 

 

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

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