Spread Betting Experiment - Trading Update
Well, after hearing about Vince Stanzione's new trading day at the end of October I decided to start trading again - over 2 years since my last trade.
Luckily my account with Finspreads was still open and they allowed me to go back onto the 8 week "Academy" course. Basically, it means I can trade for pennies again rather than have to stick to their 50p per point minimum... which will probably save me a lot of money.
I dug out Vince's workbook and had a quick read through to remind myself about the strategies he recommends. They are all remarkably simple so I should, in theory, have no trouble sticking to the rules. We'll see :)
So, after 1 week of trading, how am I doing?
The answer is... not too bad!
I currently have 7 positions open with a combined profit of £12.82 as of the close of trading on Friday.
At present I am unsure of the consequences of me posting my actual trades on here. In these "PC" times it's probably better that I don't post the names of the shares I am trading on here or someone may go out, trade them and then sue me if they lose money.
I will have to consult a solicitor to see what it best to do about it.
In the meantime please accept my apologies for the sketchy-ness of the details but I really don't want someone taking me to court for posting my personal trades.
As of Friday 13th October my trades look like so:
So far, so good.
Before you say anything - yes, they are small wagers (each one is risking just 2% of the betting bank).
Like I said in the last post about spread betting, I made mistakes in the past but this time I am going to try and be very boring and business-like about my trading.
It's a long term pursuit for high gains through compounding.
Recommended reading:
Vince Stanzione's course - "Making Money From Financial Spread Trading
http://www.FinancialSpreadTrading.co.uk
Luckily my account with Finspreads was still open and they allowed me to go back onto the 8 week "Academy" course. Basically, it means I can trade for pennies again rather than have to stick to their 50p per point minimum... which will probably save me a lot of money.
I dug out Vince's workbook and had a quick read through to remind myself about the strategies he recommends. They are all remarkably simple so I should, in theory, have no trouble sticking to the rules. We'll see :)
So, after 1 week of trading, how am I doing?
The answer is... not too bad!
I currently have 7 positions open with a combined profit of £12.82 as of the close of trading on Friday.
At present I am unsure of the consequences of me posting my actual trades on here. In these "PC" times it's probably better that I don't post the names of the shares I am trading on here or someone may go out, trade them and then sue me if they lose money.
I will have to consult a solicitor to see what it best to do about it.
In the meantime please accept my apologies for the sketchy-ness of the details but I really don't want someone taking me to court for posting my personal trades.
As of Friday 13th October my trades look like so:
| Trade Ref | £ per Point | Long/Short | Entry Price | Current Price | Current P/L |
| 10001 | 3.00 | Long | 138.80 | 132.20 | -19.50 |
| 10002 | 0.46 | Long | 737.80 | 733.00 | -2.20 |
| 10003 | 1.35 | Long | 247.50 | 266.30 | +25.38 |
| 10004 | 0.17 | Long | 2003.00 | 1998.80 | -0.71 |
| 10005 | 0.08 | Long | 4024.90 | 4178.60 | +12.29 |
| 10006 | 0.23 | Long | 1488.00 | 1464.30 | -5.45 |
| 10007 | 0.67 | Long | 475.60 | 480.10 | +3.01 |
So far, so good.
Before you say anything - yes, they are small wagers (each one is risking just 2% of the betting bank).
Like I said in the last post about spread betting, I made mistakes in the past but this time I am going to try and be very boring and business-like about my trading.
It's a long term pursuit for high gains through compounding.
Recommended reading:
Vince Stanzione's course - "Making Money From Financial Spread Trading
http://www.FinancialSpreadTrading.co.uk
posted by Ben at 2:13 pm
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