Yer, there was a bit of a pathetic attempt at a rally towards the end but none of my positions seemed to move up. It'll soon sort itself out
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| Author: | bigal60 [ Tue Feb 22, 2011 12:46 pm ] |
| Post subject: | MIDDAY REPORT! |
Hi at home again today but have decided to go back to work tomorrow; at least there I won't be looking at my computer every 5 minutes! Well, what a terrible day on the markets so far - it's truly grim. The FTSE is around 60 down at 12.40pm and my portfolio is around £130 down. I think I have 3 positions in the green, but not by much; I haven't seen this much red for months and I can't see any improvement today anyway.... My best hope for today is that I don't have any stop outs; the only one that concerns me is FIRESTONE DIAMONDS which has just 1.4 points to go before hitting the stops! (current SP 33.42). Anyway, if it goes it goes - I absolutely refuse to move any stops... Right time to do some guitar practice I think, and stop looking at this flaming computer!! See you later this evening - if not I've probably jumped off the nearest bridge!! Big Al |
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| Author: | SpreadBettingTrader [ Tue Feb 22, 2011 1:56 pm ] |
| Post subject: | Re: MIDDAY REPORT! |
Yes I noticed one of my accounts is already £150 down on the day since trading began yesterday and that includes a £75 profitable trade! Not a good week so far, I guess the middle east tensions arent good for the market! |
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| Author: | bigal60 [ Tue Feb 22, 2011 3:17 pm ] |
| Post subject: | Re: MIDDAY REPORT! |
Hi yeah seems like the whole world is jittery at the moment... Well this is a first - every single position in my portfolio is red, and I have about 23 different shares/companies; this is definitely the spread betting day from hell! I keep thinking it can't get any worse and then it does; I must be nearly £200 down today and there's still over an hour to go... Watch this space...!!!!!!!!!!!! Big Al ps If we can survive today then it just MUST improve from here on in??!!?? |
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| Author: | offthelip [ Tue Feb 22, 2011 4:00 pm ] |
| Post subject: | Re: MIDDAY REPORT! |
One mans meat is another mans poison, I have a strategy which seem to work pretty well on these days, it relies on the market over reacting, I look for a stock that has fallen by more than 2 * AVTR and then buy it , Last week I bought Microfocus when it fell 35% and my bet is now up 12%. Today I bought SERCO and I have made 1.78 % , and I just closed it out because my rules say if it gets back near to yesterday's close I close out. I am still forward testing this strategy, but it is based on the way that Tony Loton selects his stocks for his Position Trading Strategy. |
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| Author: | SpreadBettingTrader [ Tue Feb 22, 2011 4:21 pm ] |
| Post subject: | Re: MIDDAY REPORT! |
As you probably know otl I run Tonys strategy in one of my accounts and today will present alot of opportunities for new trades as youve said. Its all just noise, there will be days that are positive +£200 too so just make sure you can stay in the game! |
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| Author: | bigal60 [ Tue Feb 22, 2011 4:26 pm ] |
| Post subject: | Re: MIDDAY REPORT! |
Hi quite agree - this time next week we'll be wondering what all the 'ooh ha' was about... Big Al |
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| Author: | bigal60 [ Tue Feb 22, 2011 4:59 pm ] |
| Post subject: | Re: MIDDAY REPORT! |
Hi glad to see the back of today! I'm just over £200 down on the day; amazingly no stop outs so I'm relatively happy. Don't think I'll get through another day like that without multiple stop outs though..... Big Al |
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| Author: | SpreadBettingTrader [ Tue Feb 22, 2011 6:42 pm ] |
| Post subject: | Re: MIDDAY REPORT! |
Yer, there was a bit of a pathetic attempt at a rally towards the end but none of my positions seemed to move up. It'll soon sort itself out
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| Author: | lotontech [ Tue Feb 22, 2011 7:50 pm ] |
| Post subject: | Re: MIDDAY REPORT! |
Since my name crept into the conversation, I thought I'd say that I missed most of the fun today as I was out and about. But yes, I would see this as an opportunity to pick up some positions in stocks that had 'corrected' and / or had fallen below my last stop-out price. Yes, I too picked up Micro Focus a few days ago  The Position Trading strategy is a long game which can go nowhere (except slowly down) for ages and then take off like a rocket. On the subject of 'long games' I was pleased to see today that the second print edition of my book is finally finding its way onto Amazon. Everything comes to he who waits. Look out tomorrow for what I think should be my "Playing with Meaningful Stakes" article on The Motley Fool. Its subtitled "The Greatest Trade that Never Was" and is on the subject of puny position sizing, which should make 'offthelip' laugh. Happy Trading! Tony Loton, Position Trader |
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