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