|
|
Well another trading day has been and gone. It’s been a bit of a better day with the FTSE rising 80 odd points. My position in Vodafone stopped out yesterday for a loss of £5. It actually closed out before the end of trading so my slippage concerns weren’t needed after all.
I’ve still had no reply from my spread betting firm (CMC markets) about the northern foods merger. I wonder will they respond tomorrow? It’s certainly not a great advert for their customer service. I’m still considering to move from them. I haven’t decided who too yet but when I do I’ll let you know.
I’ve also decided against purchasing one of Malcolm Pryors DVDs. It’s probably a bit too costly especially with it being Christmas. Maybe I’ll consider it again in the new year.
No new trades today. At the moment there is nothing that seems terribly appealing to me. I’m in no hurry to trade anyway, I know that an opportunity will come along soon.
I was thinking of trying to develop a new strategy, with help from you, if that’s ok. It will mainly be for a bit of fun, but who knows maybe we’ll create a profitable strategy together. I’ve started a new forum post and added the first, of many, criteria for a trade setup. I’ve stipulated that we will buy only when price is above the 200 day EMA (Exponential moving average) and sell only when the price is below the 200 day EMA. Now I’m throwing it open to the floor. Add what you want, It’s on a first come first served basis, so you cant add conflicting conditions. Hopefully it will be a bit of fun and useful for us all to learn a little more on what is required to develop a strategy. Thanks in advance for your participation.
Until next time,
“May the markets be with you!”
Spread betting beginner
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
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
Do not copy and paste and content from this site without permission. Please contact me if you would like to use any content on your site.
