FTSE 350 Spreadbet Journal

think-it-thru

Active member
Jan 22, 2008
210
3
28
MY IGH position has been closed out at a profit saying dividend recieved and then reopened at about the same loss as the profit i was payed, my position is still open , and I will have to attach a stop loss order to it.
 

phoenix25140

Active member
Feb 24, 2010
102
2
28
Hi Think-it-thru.

Been browsing through this with great interest as I am a spread trader myself.

How do you research the FTSE350 and how do you arrive at the decision to trade with your selections?

Ive always been a fan of advfn for selecting trades with clear volume changes and previously strong companies who are struggling near near 52 week lows eg Tesco of late , as i feel these provide the best value for growth.

Can you give me any of your personal insights into stock selection as I am always open to ideas!

Best of luck in the future.
 

think-it-thru

Active member
Jan 22, 2008
210
3
28
Hello there phoenix25140

Thank you for your post.

I use Sharescope for some research and ADVFN, Yahoo finance , bloomberg.com also.
Im spreadbetting so ill usually open a position for the far quarter.
I look at sectors, leading and lagging. Then I pick a stock whose price is trending higher in a leading stock for a long position, and hedge that position with a short on a weaker (based on price trend) in the same sector. and the opposite for lagging sectors. I dont look at much fundamental, however i am learning that it could be wise to do some, as my FDSA position had a share split recently whic left me in the red a little, and if i had looked at the news and improtant dates for that company i might have tightened my stop.

I guess the likes of Tesco which was a previously strong company could be value for growth.
Another member asked me about Firstgroup in a recent post.

My views on these two at the minute.
They are at lows and TSCO being near a previous 52 week low, so where is the bottom?
I dont know of course and im not about to try and call it.
Im spread betting so I would want to try and catch a trend in motion.
To hold the underlying, might be a place to park your money for a while, but there doesnt seem to be much love for either , price wise.
May be a buy stop above the current price between S/R levels with a stop loss at another S/R level would be good.
However I have no positions in either at the minute, and I am also 24% down, so I havent called Ferrari just yet.
 

think-it-thru

Active member
Jan 22, 2008
210
3
28
Got a dividend payment on my BOK position.
My IHG position which had that share split a while back didnt have a stop loss put on it when the slpit took place. It ran against me and i thought i will give it another 2% room then when it went against me I closed out today at a loss.
Current P/L -31.5%
 

think-it-thru

Active member
Jan 22, 2008
210
3
28
My TCY position was stopped out at a loss, not a full 2% loss as when it moved in my favour earlier i moved my stop to lessen the risk. when i got stopped out the position moved in the direction i had traded, maybe i should have left my stop where it was.
My RMV position also got stopped out at a loss.
P/L -34.3%
 
Jan 8, 2011
41
0
16
bud hate to say it but you seem, to be taking a fair few losses....!!! may i suggest a slight tweaking to your investment strategy??
 

think-it-thru

Active member
Jan 22, 2008
210
3
28
bud hate to say it but you seem, to be taking a fair few losses....!!! may i suggest a slight tweaking to your investment strategy??
Hello there romski,
Thank you for your post.
I'm not sure what tweaking to do. With hindsight looking back on my closed out positions I would have been more particular with the entry on some, but with the limited knowledge that I have I would have still opened them, as in find a trending stock, set stop loss at a previous support/resistance level with just less than 2% of equity at risk , when the position gets to break even get ready to adjust my stop loss.
If you could help me out I would appreciate it.
Do you have any suggestions?

Regards
think-it-thru
 
Jan 8, 2011
41
0
16
Hello there romski,
Thank you for your post.
I'm not sure what tweaking to do. With hindsight looking back on my closed out positions I would have been more particular with the entry on some, but with the limited knowledge that I have I would have still opened them, as in find a trending stock, set stop loss at a previous support/resistance level with just less than 2% of equity at risk , when the position gets to break even get ready to adjust my stop loss.
If you could help me out I would appreciate it.
Do you have any suggestions?

Regards
think-it-thru
Indicies will tend to be more volatile than stocks, although indices seem to obey TA more than equities!

how are you choosing your stocks/indices to trade. eg the FSTE 100 doesnt like being above 5900 towards the end of the month expect a short opportunity to arise if it is still lingering 5850 ish
 

malaguti

Well-known member
Nov 3, 2009
2,262
420
93
My PZC short was closed out at a loss today.
Have you tried trading with the trend? really, it helps significantly.
Dont want to appear smug, everything is easy to criticise in hindsight, and not knowing your entry criteria but the trend was quite clear for me at that point in time.
Give it a try, or if you are having trouble with the trend, I will happily give you some pointers
good luck