Hi

as you probably know my computer went down recently and so I've decided to order a new machine from Novatech . Anyway I missed a few blogs and so I thought I'd write a quick update...

It was a good week despite a rocky start; my portfolio is currently at an all time high and, once again, I'm wondering how long my run of good luck can last! Friday's trading was a bit patchy but 3 or 4 of my positions performed very well and saved the day...

PETRA DIAMONDS LTD gained a massive 18 points and is my best share without exception. I have 8 positions totalling £10/point. This is a classic case of a share rising so quickly that it is probably no longer viable to open any new positions. I managed to buy in before all the good news hit; to be honest I really wish I had 'real' shares in this company!

NAUTICAL PETROLEUM PLC is another example of getting in at the right time - albeit by sheer good luck. This one gained 13.5 points on Friday and is now showing a profit of £115 at £1/point (how I wish I'd taken a bigger bet!). It was only a few months ago that I was wishing this position would stop out - must be a lesson in there somewhere!

TT ELECTRONICS PLC is another rock solid company - slow but steady progress since buying in. I have 6 x contracts totalling £6/point; this gained 4.5 points on Friday to give a current profit of around £250-260. This is another company I would buy shares in if I had the spare money.

IQE PLC gained 2 points on Friday and, again, I have 6 open positions; running profit is about £320 for a total of £28/point. Five of these positions are in good profit, the sixth has yet to go 'blue' so I won't open another position just yet. It's not a fixed rule but I generally like all preceding positions to be 'blue' before opening a new one.

The rest of my portfolio from Friday is the usual mixed bag of gains/losses...

Account funds £2230 so current profit since April '10 is £1410. Hopefully I'm on course to survive the first year in spread betting; however nothing is certain, so I will continue to be careful and to maintain the patience and discipline that has served me well up to now.

One final word: it's really nice to use 'their' money to open new bets! ('Their' being IG Index).

See you tomorrow, Big Al

Another superb week for you Al, you've made a heck of a start to your spread betting career!
Think I'd be scared having a £28 per point position open on 1 share though, I guess no guts no glory!!
Looking back at charts of some of the stocks you've mentioned you seemed to have a superb nack for picking them at exactly the right time thats for sure!
Good luck next week.

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

Hi

thanks but that particular bet is not as risky as it seems. Don't forget I started with just one position at £5/point; when that broke even I opened another bet at £5/point, and so on; one of the bets was £3/point for some reason or other, so 5 x contracts @ £5, 1 x contract @ £3 is £28/point. I probably opened these contracts over a 3-4 month period; if the company went bust tomorrow I'd still be in good profit.

If things go to plan then my bets will obviously increase in size as my funds increase. I'd like to think (hope!) that the day will come for £50 or even £100/point and so on. Ultimately it's the only way any of us will make any serious money, which is really why we're here...

Cheers for now, Big Al