Spread Betting Update w/e 24/11/06

Two new positions were opened last week.

Firstly is trade reference 10011 which is yet another LONG position in a UK share. I realise that I am heavily long on all the positions but I have not found a good short position to enter yet so...

The second new position was reference 10012 which is an addition to a current position.

Basically, the share has moved so high that I have moved its stop loss to the opening point (247.5) and added another "unit" of £1.35 per point.

Technically I now have a £2.70 per point long position in this share although the stop loss is at 247.5 and so I will only lose £53 if this stop loss is hit.

My first position (10003) is now "risk-free" as the worst that can happen is that I break even (unless there is significant slippage).

However, on the second trade (10012) I can now lose £53.

In total, I now have a greater potential for profit if the stock continues to rise and the same risk if it falls.

Add to winning positions and cut losers - one spread trading rule which I am determined to stick to!

Trade Ref	£ per Point	Long/Short	Entry Price	Current Price	Current P/L
10001	3.00	Long	138.80	147.3	+25.50
10002	0.46	Long	737.80	814.90	+35.46
10003	1.35	Long	247.50	276.1	+38.61
10005	0.08	Long	4024.90	4192.7	+13.42
10006	0.23	Long	1488.00	1454.2	-7.77
10007	0.67	Long	475.60	506.6	+20.77
10008	0.15	Long	2255.6	2054.0	-30.24
10009	1.00	Long	342.2	352.6	+10.40
10010	0.14	Long	627.5	637.6	+14.14
10011	0.29	Long	1138.8	1163.3	+7.10
10012	1.35	Long	286.8	276.1	-14.44

Current profit and loss on 11 open positions as per 24/11/06:

+£112.95

Spread Betting Update w/e 17/11/06

Another pretty quiet week with no new additions, stop-outs or closing of trades.

I will be adding a couple more spread betting positions today but those will be documented next week.

Results as of close of trading on Friday 17th November 2006:

Trade Ref	£ per Point	Long/Short	Entry Price	Current Price	Current P/L
10001	3.00	Long	138.80	143.9	+15.30
10002	0.46	Long	737.80	811.80	+34.04
10003	1.35	Long	247.50	285.0	+50.62
10005	0.08	Long	4024.90	4187.1	+12.97
10006	0.23	Long	1488.00	1410.8	-17.75
10007	0.67	Long	475.60	497.2	+14.47
10008	0.15	Long	2255.6	2182.5	-10.96
10009	1.00	Long	342.2	350.5	+8.30
10010	0.14	Long	627.5	621.8	-7.98

Current P/L = +£99.01

Spread Betting Update w/e 10/11/06

I opened one new position this week, well 2 to be honest.

On Monday I decided to open a long position in December Gold and risk just £50. However, like an idiot I didn't take care when opening the position and ended up taking a position risking ten times that much.

When you trade Gold, each point is actually 0.1 of the quoted price. Therefore, if you buy at 600 and it moves to 610, that is 100 points, not 10.

Shortly after I placed the trade I realised the error I had made and so I closed it off immediately, losing 10 points in the process - which equates to £10.

I didn't feel comfortable with the risk of a £1 a point position with the limited capital I have so I swallowed the loss and then placed a new trade at a much more reasonable stake.

On the 8th (Wednesday), I received an email from Sandy Jadeja of Finspreads who basically said that Gold was in a down trend (meaning my long trade was probably going to lose money). I decided to keep my position open, I never did care for tipster's hints. We'll have to see what happens between now and expiry on the 27th November.

You can read more on the other blog:

Spread Betting, Finspreads and Sandy Jadeja

With the other positions I have had a good week, going from £21.46 down to... well, check it out for yourself:

Trade Ref	£ per Point	Long/Short	Entry Price	Current Price	Current P/L
10001	3.00	Long	138.80	142.5	+11.10
10002	0.46	Long	737.80	794.60	+26.12
10003	1.35	Long	247.50	275.7	+38.07
10005	0.08	Long	4024.90	4149.2	+9.94
10006	0.23	Long	1488.00	1409.0	-18.17
10007	0.67	Long	475.60	474.1	-1.00
10008	0.15	Long	2255.6	2168.9	-13.00
10009	1.00	Long	342.2	340.4	-1.80
10010	0.14	Long	627.5	629.7	+3.08

Current standing as of 10th November 2006:

+£54.34

Spread Betting Update w/e 03/11/06

Once again I have not added any new positions I am afraid.

This is simply because I haven't seen any new openings and so I am not prepared to buy or sell any markets.

At the same time I haven't closed any positions because there is nothing to tell me to close them!

One thing I am a little worried about is that I do not have any short trades open, so if the markets take a dive, I will most likely be stopped out completely.

Today I may open one or two new positions, with one possibility to go short.

The problem that I have is that I am in work and the internet connection can be described as crap to put it mildly.

Here are the positions I am holding as they currently stand. I will say that all are individual equities (shares). 7 are UK shares and 1 is a US stock.

Trade Ref	£ per Point	Long/Short	Entry Price	Current Price	Current P/L
10001	3.00	Long	138.80	136.3	-7.50
10002	0.46	Long	737.80	770.7	+15.13
10003	1.35	Long	247.50	262.2	+19.84
10005	0.08	Long	4024.90	4084.7	+4.78
10006	0.23	Long	1488.00	1390.1	-22.51
10007	0.67	Long	475.60	469.0	-4.42
10008	0.15	Long	2255.6	2145.7	-16.48
10009	1.00	Long	342.2	331.9	-10.30

Current standing as of 3rd November 2006:

-£21.46