TUESDAY 9 NOVEMBER
dare I say it! Well I had a fairly good day today and my funds have hit £990 ...
So, as we speak, I'm currently running a profit of around £240. This, as usual, was partly due to luck (a vital part of ANY strategy, at least in my opinion), and partly due to AVOCET MINING PLC. I picked up on this share from the very useful discussion board on www.iii.co.uk
. I did a very quick 'mini' research, checked the charts and then dived in with a £1/point BUY first thing this morning. Very shortly afterwards the share hit +5, +10, +15 and finally ended the day 17.5 points to the good!
About an hour after the markets opened I went with my 'gut' feeling on this one and opened a 'pyramid' position, again at £1/point. This was perhaps a tad reckless (I hear you say), but what the heck sometimes you have to go for it! By this time, of course, the share had gone up a fair bit so my entry price wasn't so favourable; in any event the second position still ended the day at a small profit of 0.88p.
Other than that the day was fairly mixed with some positions improving and others declining; I was around £50-55 up on the day about which I have no complaints.
Currently I'm running 47 open positions and around 30 or so are in various stages of profit. I managed to raise quite a few stops which is always gratifying; I have quite a bit of profit 'locked' in though I couldn't say how much at the moment. To be honest it's a bit of a nightmare managing all these open positions; my time is fairly limited due to work, family and everything else that has to be fitted into every day.
By the way I have 3 working orders on the sidelines which are:
1. KENMARE RESOURCES PLC
2. RED ROCK RESOURCES PLC
3. VICTORIA OIL AND GAS PLC
Any or all of these may well kick in tomorrow. By the way it goes without saying that these are NOT recommendations....
That's it for now, see you soon and very good luck with your spread betting,
cheers, Big Al