Spread Question

This is a discussion on Spread Question within the Spread Betting & CFDs forums, part of the Commercial category; Hi Folks, I'm fairly new to trading (5-6 months in) and I've managed to do quite well so far but ...

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Old Aug 24, 2017, 3:29pm   #1
 
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Joined Feb 2017
Spread Question

Hi Folks,

I'm fairly new to trading (5-6 months in) and I've managed to do quite well so far but I'm still learning everyday as I go, so i'll get right down to it.

If you buy into any stock because you've done your research and think it's got great potential, at the time you buy in the spread you pay sits about 5-8 points. So you go long and then over the next week the stock has exploded to the upside jumping up 300 points within that week and still going strong, my main question here is that I want to add to my position to increase the profits as I think the the stock still has more to go but the spread is now sitting at a 30 point difference!

So what would you guys recommend in this situation and how do you tackle this? If I even go for £1 a point I'm instantly down £30 from a crazy 30 point spread.... Would you just wait and sit it out until the spread drops to say 15-20 points then take the hit?

Thanks,

Steve
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Old Aug 26, 2017, 10:43pm   #2
Joined Feb 2002
If the potential gain and probability of this being achieved, from your analysis, is now lower than when you opened the trade, take the money and bank it.
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