Spread Betting Community

I'm still here, but you'd be forgiven for thinking I wasn't

Well I’m still here and trying to spread bet as and when I get the chance. I think it’s pretty safe to say that my passion for spread betting and developing this site has dissipated somewhat since it all started two and a half years ago. I’m hoping it will return and indeed my recent win in BUMI and some wins in the GBP/EUR have nearly returned my account balance to where I started from. I hope that it’s a trend that is set to continue however I am still cautious as I know that losses can mount far quicker than any profits.

My biggest enemy as it always has been is time. When I first started the site back in 2010 I had high hopes that it may get to a point where it would generate sufficient income to free up my time to dedicate more to trading and other pursuits however it has not turned out to be the case. Quite the opposite infact, I probably have less time now than I did when I started the site and site maintenance, updates etc. etc. onl [Read more...]

Back in on BUMI

With the news of that the Eurozone recession has deepened most of the market fell slightly but BUMI dropped significantly from around 440p to as low as 378p during the day. My first reaction was boy am I glad that I got out yesterday at 430p saving myself a tidy sum in lost profits. As the day wore on I could only see that BUMI would return to form as the stock has started to trend nicely over the last few months. So I decided to set an limit order to get in £1 pre point at 383p with a stop set at 340p. This is a 43 point risk so that’s 4.3% of my original £1k bank. Will the stock return to form? Well that remains to be seen but the fact that the stock jumped from 390p to around 400p at the close is a good sign that people think the price will rebound tomorrow. Only time will tell but I think the risk is worth the potential reward.

BUMI Chart

Buy at 383p Stop at 340p
Read more...]