Spread Betting Ladbrokes - January 13, 2011 by Harry

Works still really busy while I play catch up after having a few days off, so I don’t have loads of time to spare today.

 

I had one stop out today and made one new trade. Firstly the stop out was in Debenhams. I was stopped out at 68.696 so yet again I suffered slippage. I know it’s only 0.3 points but still it all adds up. This was in my new CMC account where I have suffered some of the worst slippage in terms of how frequently it occurs. The new CMC account does have reasonably tight spreads but even so I’m not sure if this makes up for the amount of slippage I’m suffering.

 

My new trade is in Ladbrokes. It’s a super trend buy at 128.7 with a stop set at 122. I decided to open this position in my Tradefair account. Although the spread was slightly larger I seem to have suffered less slippage with them than CMC so I thought I’d place the trade with them instead. I liked the look of Ladbrokes and although the share has been in a slight down trend there is a potential double or even triple bottom formation with the low made back in July, the end of November and the most recent low made at the end of December. So this is all in keeping with my strategy. Will it pan out ok? Well only time will answer that question.

 

I’ve added a new section to the site called market comments. This is basically some comments from Capital Spreads and SpreadEx about what the markets are doing. Some of it makes interesting reading and I thought you might like to read it so I’ve added it to the site. This should be updated everyday but it’s really out of my hands as it comes from Capital Spreads and SpreadEx themselves. I usually get the commentary in the morning so as soon as I get it I’ll add it to the site.

 

Thanks for the continued feedback about the speed of the site. I suspect it’s something to do with my hosting provider as some days it seems fine others it’s really slow. I’ll be contacting them about sorting it out so hopefully I’ll get this sorted ASAP!

 

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

ProRealTrend Detection! - December 21, 2010 by Harry

I was a little bored with work today, not that I should be, I have loads to do. I was looking for new trades and none took my fancy according to my super trend strategy, So I had a bit of a play with proRealTime. I noticed they have a feature called ProRealTrend Detection. Has anyone looked at this before. I took a quick look and couldn’t really make head nor tail of it. It attempts, in some way, to give a list of instruments that are close to support and resistance levels. The thing is I don’t think it’s particularly clear what all the lines that it adds to the chart actually mean. If anyone has any clue what so ever please let me know. Probably best to post on the forum if you can. I can see there being a lot of replies and I don’t think adding them all as comments will suffice. If I get chance I’ll start a new topic. UPDATE – I’ve started a ProRealTrend Detection Help! topic on the forum.

 

Not much happening with my trades today. Most are up slightly. Punch Taverns is now around 10 points in profit. I checked last night and I managed to move my stop level by 4 points to reduce my risk on the position. I guess it’s probably a good time of the year for pubs etc. Everyone having a festive drink or two, if your not driving why not have three or four. Keep drinking and keep Punch Taverns share price rising 😉 everyone’s a winner.

 

The FTSE has had it’s best day for a while, up around 60 points. I have to say it’s still in the back of my mind whether or not the FTSE will pass 6000 before the end of the year. It’s certainly coming close. I guess in two weeks time we’ll know the answer to the question. After that it will be time to start speculating where the FTSE will end up at the end of 2011. Still there’s a few trading days to go before then so I don’t thing I’ll be trying to look that far ahead.

 

I may get some time later to look for new trades but nothing so far. As always you can keep tabs on my latest trades on my spread betting trades page. You can also see big Als latest trades. I have to say I’m very impressed with his trading. He’s doing very well nearly doubling his account balance in less than a year. Hopefully I haven’t jinxed anything for him. Keep up the good work Big Al.

 

That’s all for today.

 

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

Another super trend buy - November 18, 2010 by Harry

Well with the FTSE rebounding a bit today because of the bail out of the Irish republic it’s not been a bad day for my stocks. My pyramids in Debenhams and F & C Asset management are both showing a small profit. Obviously it’s not the end of the day yet so that could still change.

 

I had a little time today to look for new trades and I have made one new trade. I’ve gone long on Vodafone £1 per point at 168.175 with a stop set at 163.13. I was originally going to set my stop at 164 but when I entered the trade in my order ticket this was the stop position it gave me and I couldn’t be bothered to change it. This is not a super trend cross buy but it is a close to super trend stop buy. It’s basically the same as the strategy I’ve used for 3i infrastructure, Northern Foods etc. Essentially it’s the same conditions in which I would pyramid into an existing position except I don’t have any profit locked in. Also my stop value is below the super trend stop price initially with a view to move this as the position moves into profit. If you take a look at the chart for Vodafone I’m sure you will agree that visually the chart shows a strong uptrend recently. My aim is to get a piece of this continued upward move.

 

If you’ve read Malcolm Pryors The Financial Spread Betting Handbook: A Guide to Making Money Trading Spread Bets, you will be aware he details some trend following strategies and to enter on pull backs and rallies, depending if up or down trend. Identifying a pull back was always part of the strategy that I struggled with. I think using the super trend indicator is quite a neat solution to this.

 

I really like the super trend indicator and you can read my notes on it’s construction here. I’ve tried my best to explain each line of the code and give a general overview of how it works. I don’t know if I’ve done a great job but if there is anything you don’t understand or isn’t clear please let me know and I’ll to my best to explain it clearer.

 

I’ll probably try and add more on ATR at some point soon, as well as adding more on technical analysis and other indicators etc. There is so much I want to add but I just don’t get the time. I wish I could do this full time but unfortunately I have bills to pay, as we all do, and it’s the day job that covers those for the time being.

 

Since I’ve had no response about my Northern Foods question on the forum I posted the same question on the spread betting central forum. It would seem that no one really knows quite what happens here so I’ll have to e-mail my spread betting firm (CMC markets) to find out. I’ll let you know more when I know more.

 

I don’t know if any of you have heard of Martin Lewis, the “Money Saving Expert”, but he’s uncovered hidden links to heavily discounted products on Amazon. The discounts vary but apparently they are anything from 15% to 99%. I’ve selected some of the best categories that you might be interested in. I thought with Christmas not that far away some of these could come in handy. Anyway take a look by clicking on the links below.

 

There are more categories, if you want me to list them all I can. Just let me know.

 

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

What will the FTSE do? - November 16, 2010 by Harry

I can’t believe another day has come and gone. The time today has just flew past. Yet again not too much to report from me trading wise. Debenhams pyramided today. I set a buy order for 70, which was filled at 69.901, slippage yet again. My stop on this trade is quite tight at 68. So far my F&C asset management trade is holding up. The spread bet has just moved into a slight profit, hopefully the current pullback has ended and is now ready for a leap upwards.

 

3i Infrastructure is up a bit again. I should be looking to move my stop on this position. This trade was a bit of a test, as they all are, of a strategy using the super trend indicator but not my super trend cross strategy. The price was close to the super trend stop price (within 3%) and it has been consolidating for a while. Hopefully the price will continue to rise. Maybe it’s the rumour that I started yesterday about a 3i take over bid? Who knows. Just so you know, I have no idea if there is a take over bid on the table etc. aor am I affiliated with 3i in anyway. The rumour is supposed to be taken in humour. Well would you look at that I’m a poet and I don’t know it.

 

Taking a look at the FTSE it’s not looking good for it getting past 6000 by the end of the year. I would assume all the EU bailout talk has rattled the markets which is why it’s taken a nose dive. Bad news for my pension, but hey! If I could predict where the FTSE was going to go and when then I’d be a rich man. The sad fact is I can’t and no one can.

 

I’ve just had a look for super trend cross stocks and there are 27 today. Quite a lot compared to the usual 5 or 6, yesterday there was only 1. Most of them are selling opportunities, hardly surprising considering the FTSE tanked today. I’ve yet to take on a short opportunity using my super trend strategy, maybe today will provide me with an opportunity. I’ll take a look later and let you know.

 

Personally I still think the FTSE will pass 6000, but before the new year? Well now I’m not so sure. The thing is this correction in the FTSE is long overdue. It hasn’t corrected itself much since the low of around 5100 back in august. I think things could be shaky for the next few days, after which I think things will start to settle down again. But hey what do I know! The FTSE could fall to 3000 tomorrow for all I know.

 

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

Super trend strategy - November 14, 2010 by Harry

I thought I’d write a quick post to let you all know that I’ve added my super trend strategy to the site today. It’s a work in progress and I have yet to add more detail about the construction of the indicator. You can take a look at the strategy here and leave me any feedback you might have here.

I’ll try and get the super trend indicator construction page added to the site as soon as I can.

Thanks to all in advance.
Enjoy the rest of your weekend.

 

 

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

Pages
Linkpartner