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The Beginning: part 35 http://spreadbettingbeginner.com/Forum/viewtopic.php?f=7&t=55 |
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Author: | bigal60 [ Thu Dec 23, 2010 7:59 pm ] |
Post subject: | The Beginning: part 35 |
Hi nice steady rise on the FTSE today bringing 6000 within 'spitting distance'. Can we make it or not? Well, I think we might tomorrow, and my bet is on 6050 for year end... Well, dare I say it, yet another good day for my portfolio with an all time record of £1500 making my profit £700 since starting in April. I'd love to say that I was doing all the right things but I'm just having a fairly good run at the moment which cannot last forever - unfortunately. Anyway no complaints today... No major ups or downs portfolio wise, just more green than red for once. I did have a stop out today with EMPYREAN ENERGY PLC giving me a fairly painful loss of £33; however I still have another contract with this share which is just in profit. I may well sell this position tomorrow as the company has just had a fairly negative report concerning current progress. One new position executed: DOMINION PETROLEUM LTD opened at 5.85 with a stop of 2.85 @ £5/point. This is my second contract in this share. See you tomorrow, Big Al |
Author: | SpreadBettingTrader [ Mon Dec 27, 2010 8:46 pm ] |
Post subject: | Re: The Beginning: part 35 |
Al, are you pyramiding into Dominion because your existing position would cover the losses of the new position if it stopped out? Just wondering what your criteria is for establishing a 2nd position in a share. Merry Xmas. |
Author: | bigal60 [ Tue Dec 28, 2010 5:19 pm ] |
Post subject: | Re: The Beginning: part 35 |
Hi hope you had a great Xmas! Well I have to admit that I've broken my rules as far as DOMINION PETROLEUM LTD is concerned. Normally I would wait for the locked in profit to cover the cost of the pyramid position but, as you can clearly see, I have no locked in profit. I have taken a second position for a number of reasons; good news is coming soon is one reason; I have a 'gut' feeling about this one (wishwashy I know!) is another; I think the main reason is because of the share chart - the 50 day MA is about to cross the 200 day MA average in an upwards direction... cheers for now, Big Al |
Author: | SpreadBettingTrader [ Tue Dec 28, 2010 7:30 pm ] |
Post subject: | Re: The Beginning: part 35 |
Nothing wrong with using the MA crossover ! Just another weapon in your trading arsenal. Good luck for tomorrow, I've missed the fun since the market closed! |
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