Well after a rocky start to the day it would seem that the FTSE will be possibly be closing around the same price it opened. With the sharp drop in the FTSE this morning came the inevitable stop outs. Although I only had one stop out, persimmon stopped at my level of 354.63 precisely, no slippage this time. The price has recovered some since then and is currently around 357. If it continues to rise from here then so be. Another opportunity will be along shortly. I am thinking to place the same buy order for persimmon again. It would seem the support zone I identified held up and could do so again. I’ll have a think over the weekend and see what I want to do.

My order for yell executed this morning, I did suffer some slight slippage here although this time it’s in my favour. I set my buy order for 10p and it was filled at 9.996. That’s right I saved 0.004p. Get in!. Which at £1 per point is £0.004. I really don’t understand why the spread betting firm have such accurate pricing. I guess if your trading at £10 or even the maximum £60 per point on yell then it makes a bit of difference. If you can afford to trade at £60 per point on a spread bet are you really going to be bothered about £0.24. Probably not. Anyway I digress, So Yell kicked in at 10p with a stop set at 2p, so £8 risk. It’s not super trend buy I’ve just bought it because it looks very cheap, more of punt, which is why I will be tightening my stop when I get the chance. I will probably look to trail at some factor of ATR(14) probably 2x. You can check my open trades later to see what the new stop level will be. I don’t even know it myself yet.

F&C and Debenhams came tantalisingly close to pyramiding today. F&C is set to buy at 72 and Debenhams is set to buy at 70. These are both within 5% of the super trend stop which is part of my super trend strategy. I’ll try and get this finished/typed up at the weekend so I can add it to the strategies section. Just depends if I get time or not.

Thanks to Stevie and Spread betting trader for leaving comments. Stevie I’ve answered your question over on the forum. I know I keep pushing the forum but please do join. It’s a great way to share your experiences and information and also learn about others experiences and mistakes so we can all avoid making the same ones.

On a complete side note to all things trading I was cheered up when I seen that Alan Partridge has a new online series sponsored by Fosters beer. I don’t know if you like Alan Partridge but I loved the two TV series. The new series doesn’t seem as good as the TV series but it’s still funny in parts. The video should be below if you fancy watching it.

That’s all from me. I’m not sure if I’ll get chance to update over the weekend, just depends if I get time or not.

Have a great weekend everyone.

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

Again not a massive amount to report on the trading front today. I set a new buy order for yell at 10p with a stop set at 2p. I wanted to set no stop but CMC wouldn’t allow a stop set at 0p, so I opted for 2p instead. Why not 1p I hear you ask well I say to that why not 2p? There’s no real reason behind the stop level, although if it starts to move in my favour I will probably adjust the level to the super trend value.

I’ve also placed a new order for F&C. I’ve set a buy in at 72 with a stop set at 69. The stop level on my current open position is set to 69 currently locking in a potential profit of £15.71. With the new £3 risk on the table it reduces the potential profit to £12.71. There is no guarantee that this trade will even execute and the price could continue it’s recent rise, which hopefully it does. This is more of an experiment in pyramiding for me than anything else. I think the extra £3 risk is worth taking to make the most of any potential rise.

There really isn’t much else for me to report today. Thanks again to bigAl for posting his latest update, you can read it here. I know he’s probably feeling a little lonely over on the forum so please join him. It’s completely free and you can share your spread betting wisdom with others.

Spread betting DVDs

Oh and if your looking X-mas presents early you can always search amazon below to find them.

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

Not a great start to the day today. I wanted to exit my position in Bank of Ireland as soon as I could. The earliest opportunity I got to do this was just after 9:30 this morning. Knowing what I am like I decided not to exit the trade straight away, I decided that I would move my stop as close as I could. This way it takes any emotion out of it for me. If I had to click the sell button I probably would’ve ended up watching the price slide all the way to my original stop hopping that it would recover and I would make less of a loss.

The price I got for the order was 37.39. The stop was hit shortly after I made the change. I lost £6.61 on the trade. Still it’s another lesson. I shouldn’t just place orders and forget about them, and I should check, check and check again that I am sure there is a valid reason for the trade. Looking back now I don’t know what I was thinking when I placed the trade.

All that said I have placed a new order for the bank of Ireland. This time it’s a buy at 14 with a stop set at 6. I will be monitoring this and if it hasn’t executed within a month(4 weeks) the I will close the order.

I’ve made two new trades today. Buy Yell at 16.422 with a stop at 13, and Buy Taylor Wimpey at 26.13 with a stop at 21. These are both super trend cross over buys. We’ll see how they pan out.

I noticed today that Malcolm Pryor on Short Term Spread Betting: Winning Strategies for Active Traders DVD is available for under £200. Also you can pre order Malcolms new DVD Entry Level Spread Betting Strategies which is just over £200. I mention this because the sub £200 price tag is cheaper than if you buy it from spread betting central. I’ve also added these to my reading list page so if you fancy ordering them at a later date you can from there.

You may have noticed over the weekend that I added a new link to my useful sites list. spread betting trader is running a very interesting experiment over on his blog. On which I’m sure Tony Loton will be very interested in. He’s running two accounts. On of which he trades based on his professional tips he receives the other he is trading according to Tonys position trading strategy. It will be interesting to see how it pans out for him. I know I will be watching with an eager eye.

Spread betting DVDs

Oh I almost forgot to mention the new spread betting forum is up and running. BigAl asked a question on there about the IGindex trading platform. I did my best to help him out but not having a real account with them I think someone else might be better suited to help him.

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

Not much to report today. Thanks to Alan for his forum post again yesterday. You can read it here. Unfortunately I am going to be making some changes to the forum over the coming days so I will not be taking any new registrations. I apologise in advance to anyone that wanted to register today. You will be able to register again when I have made the improvements, hopefully they will be worth the wait.

EAGA is turning out to be my start performer. I still have a trailing stop of 6pts set on this and I currently have £7.4 locked in. Not mega bucks but when you consider this is nearly 2x my initial risk it’s not too bad going. Persimmon has crept up a little bit today as well. Hopefully it’s the start of a nice rebound to 400 or higher. I may look to trail the stop on this but I think if I do it will be some factor of ATR rather than just an arbitrary 6pts as is the case with EAGA.

Everything else is not up to much really. I’ll check them all later to see if I can move the stops based on the super trend indicator.

That’s all for today. It’s a short post I know. With having the new forum to do, and work and keeping the family happy there’s a lot to do at the moment.

Thanks to “M” for the e-mail about my rant yesterday. I’m glad someone has the same view as me. Also thanks to another “M” asking about proScreeners. I’ll try and get onto your request at the weekend when I have more time.

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

Not too much to report on the trading front. 888 stopped out yesterday for an £0.08 loss. My new position in EAGA is about £5 in profit so fingers crossed for that one. Debenhams has slipped back slightly from it’s high of around 77. It would seem that Debenhams is pulling back a little from it’s recent upward swing. I have placed an order to buy in another £1 per point if the price re-traces to 70p. I’ve set a stop for this new order at 69p so it would be risking £2 of the £7 I already have locked in.

This potential pyramid is a new addition to my super trend strategy. If the price retraces within 3% of the stop out price then as long as the position is enough in profit I can pyramid the position. I think I may need to think more about how much the position should be in profit before attempting the pyramid. Maybe I am being too keep to pyramid again here, but I think it’s worth a try. The trade may not even execute as the price needs to fall 5 points or so before it does. I’ll keep you posted with what happens.

Thanks to Alan for his comments again the other day, and for posting on the forum. I certainly would be interested in reading his trading journal. I think the more shared experience the better.

It’s a short post today as I’ve been busy with work and will not get much time this evening either. If I get time I’ll have a look for some new trades later, but the way it’s going at the moment I doubt I’ll get the time. If I move my stops you can check out my open positions and see them there.

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

Spread Betting Beginner