Original Turtles Trading Rules - February 18, 2011 by Harry

My position in Yell stopped out today for a £10 loss. With hindsight why did I make this trade? I think at the time I said it was a punt and blatant gambling is a sure way to the poor house. It’s for this reason that I will now only be trading my super trend strategy. After reading the original turtles trading rules document yesterday I’ve realised that my super trend strategy could potentially be very profitable in the long run. I just have to take the rough with the smooth. The Idea of the super trend strategy and indeed any successful trend following strategy is to get as much of a trend as you possibly can. The thing is it may take a few times of testing the water before a profitable trend comes along.

 

Anyway if I post about a trade that doesn’t follow any of my rules in future please feel free to say “Harry, what the hell are you doing?”.

 

I think the Original Turtles Trading rules document really is an excellent document. There is so much in there that can and should be used to help on the road to successful spread betting. I think there is lots for us to discuss about this document and how elements of it can be used in the new spread betting strategy that we are developing. Therefore I’ve started a new forum topic called “Original Turtles Rules” to discuss it.

 

I went to the City Index thing I was telling you about last night. Well what a waste of time that was. I thought it was going to be ideas about marketing etc and some useful content for the site but no. It was more us helping them than the other way round. They are very keen to get new people through the door and wanted to hear from us what is required to make that happen. I suggested a few things which I think they liked. Predominantly based around charting and the ability to add screeners etc. Mainly the things that I would want to see a spread betting firm offer for free.

 

I had a few questions that I have e-mailed to Joshua Raymond from City Index. I’m still waiting on his response and when I have them I’ll get them added to the site.

 

That’s all for this week.
Have a great weekend everyone.

 

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

Buying Yell - February 9, 2011 by Harry

I’ve made a new trade. Woo Hoo! It’s a new trade in Yell at a whopping £4 per point. It quite possibly be the biggest £ per point trade I’ve ever made. So I brought at 10.5p with a stop set at 8p. It’s a support level buy as the lowest low of yell was around 9.8p so a stop at 8p should more than cover it. This gives me a risk of £10 which is within my 1% risk tolerance. When the position starts to move into profit I shall be trailing my stop at 3*ATR(10). The current value is 0.67 so 3*0.67 = 2.01. Obviously this will fluctuate on a daily basis so I will be updating my stop accordingly along the way. What I will be doing is rounding down to the nearest whole 0.5 point for trailing my stop. So If my new stop level should be 9.3 the I will set it at 9p. If it’s 9.8p then 9.5p and so on. I’ve decided to do this as in my super tend strategy I do something similar but I round up or down to the nearest whole number. Because I’m long £4 per point I decided to make the 0.5 number to hopefully lock in more profits along the way.

 

Other than that not much else has been happening. Most of my open positions are showing some form of profit although some of them have none locked in yet. My best open position is in Northern foods. This is showing a £24 locked in profit which is nearly 5:1 reward to risk. I only wish off the lip had posted his comments earlier on ‘Meaningful position sizing and reducing risk’ and I would’ve been at £2 per point and made £48 instead of £24. Still we live and learn. That’s why I’m £4 per point on yell. I’m making the most of my 1% risk tolerance to make the most reward I possibly can. Hopefully It will work out.

 

Off the lip don’t worry about the back testing of the new spread betting strategy. There is no rush, whenever you get the time will be fine with us. If there is anything I can do to help you with it let me know and I’ll do my best. That said time is tight as always for me but I’ll do my best to help out.

 

Ok that’s all from me. I do have one request if anyone has a spare minute or two. Please add a review of your spread betting company. At the moment it’s dominated by reviews from me and it looks a little empty. The more reviews we can get on there the better and you never know it might just help some new to the spread betting world make an informed decision about which company to choose.

 

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

Yell stopped out for a slight profit - January 18, 2011 by Harry

As I suspected I’ve not had an opportunity to look for new trades today, hopefully tomorrow will be better. My position in Yell stopped out today for a £2 profit. Better than a loss I suppose.

 

With nothing much else to report I stumbled across some more detail about the guaranteed stops that Capital Spreads, Tradefair, Tdwaterhouse and possibly paddy power trader now offer. I’ve scanned the documet very briefly earlier today and there is that much information, I couldn’t take it all in. If your interested in learning more about the guaranteed stops you can read all about them on the London Capital Group website.

 

One final note, I would like to say how impressed I am with BigAls trading diary. I wish I could triple my money in less than a year. Keep up the good work Big Al. It’s nice to know that someone is making some money spread betting. Big Al also posts his latest trades which you can see on BigAls latest trades page. He also documents his progress in his daily forum posts, which you can read over on the spread betting forum. How I said keep up the good work Big Al.

 

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

Mid Morning Matters with Alan Partridge - November 12, 2010 by Harry

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

Order to buy Yell at 10p - November 10, 2010 by Harry

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

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