Register    Login    Forum    Search    FAQ

Board index » Trading Diaries » Big Als' Trading diary





Post new topic Reply to topic  [ 4 posts ] 
Author Message
 Post subject: The Journey Continues Part 37
 Post Posted: Fri Mar 04, 2011 7:45 pm 
Offline

Joined: Sat Nov 06, 2010 4:24 pm
Posts: 176
Location: Derby
Hi

well pretty much as expected today: just treading water and very little happening either to the FTSE or my portfolio. In fact I'm about £40 down on the day, which is better than I expected really. I've had a few really great days and, as always happens, there's a retrace and/or consolidation after big rises.

Again, as expected, RANGE RESOURCES had a small retrace of 1.75 points. Considering this is about £175 down for me, I reckon I did well to be just £40 down overall. Fortunately the rest of my portfolio did fairly well and this helped to reduce those losses.
SOUND OIL made a small but satisfying gain to keep me well in profit on this share.

Otherwise no complaints at all; my account funds are still a solid £2565 going into the weekend. All being well I hope to add a few more pyramids next week, particularly with SOUND OIL, which I feel is ready for some serious upwards movement in the near future...

Some of you may have noticed I am becoming slightly more 'adventurous' with my spread betting. At the moment it seems to be paying off, though I still retain a healthy respect for my own rules and regulations, as it were. I'm here to make some money and, quite honestly, 'fiddle-faddling' around with £2-3/point, at this stage, is not going to make that happen. We'll see how the next few months pan out.....

BIG AL


Top 
 Profile  
 
 Post subject: Re: The Journey Continues Part 37
 Post Posted: Sat Mar 05, 2011 10:55 am 
Offline

Joined: Fri Nov 19, 2010 7:24 pm
Posts: 91
Al,
do you set limit/stop orders on an evening to automatically execute trades for you or are you placing each trade manually during the day?

_________________
Spread Betting Trader
http://spreadbettingtrader.blogspot.com/


Top 
 Profile  
 
 Post subject: Re: The Journey Continues Part 37
 Post Posted: Sat Mar 05, 2011 1:30 pm 
Offline

Joined: Sat Nov 06, 2010 4:24 pm
Posts: 176
Location: Derby
Hi

to be honest I usually set up an OTO (order to open) the previous evening based on the last few days performance (of the SP!). If a share has been doing well, and I think it's still trending up, then I'll set the open level around 5-10% above the top of the spread quoted by IG Index. This way I can get in on a positive upswing - which will hopefully continue throughout the day; however the danger is that the SP may rise initially and then fall back again below your opening price. I try to avoid this by not having the opening level too near to the current SP - it's a balancing act I suppose, and there's always the usual element of luck and 'gut' feel about the whole thing. So far, anyway, I've been fairly lucky when opening new or 'pyramid' positions...

BTW I rarely, if ever, open a trade manually - don't really know why, just one of those things that I'm not comfortable with...

BIG AL


Top 
 Profile  
 
 Post subject: Re: The Journey Continues Part 37
 Post Posted: Sat Mar 05, 2011 5:14 pm 
Offline

Joined: Fri Nov 19, 2010 7:24 pm
Posts: 91
Hi Al, thanks for the reply.
I know what you mean about manual trades, sometimes its hard to pull the trigger. I seem to have fallen victim to what you describe with setting up OTOs, it opens for me then inevitably the price plummets.
When trying to manually open a trade, the beginning of the day throws up spreads which are too high, so you dont take the trade, then if the share price rises you can miss out on half of the days price upswing. Grrr!
Its all a juggling act!

_________________
Spread Betting Trader
http://spreadbettingtrader.blogspot.com/


Top 
 Profile  
 
Display posts from previous:  Sort by  
 
Post new topic Reply to topic  [ 4 posts ] 

Board index » Trading Diaries » Big Als' Trading diary


Who is online

Users browsing this forum: No registered users and 1 guest

 
 

 
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Web Analytics