FTSE 350 Spreadbet Journal

[think-it-thru]

Current P/L £10.03
Some of my previous positions were opened with pending orders, but I have discovered that the spreads my be quite a bit wider in the morning before 9 am, so I have shortlisted a few positions I hope place tomorrow morning after the spreads get back to normal.
My positions are all shorts
Smith and Nephew
Brown Group
Carpet Right, (except the ticker CPR brings up a different company on iii.co.uk)
DSG
Game Group
Home retail Group
WH Smith

Shares that i am not going to short tomorrow morning but am keeping an eye on for potential short are
Debenhams
Kingfisher
Mothercare
Next

 

[think-it-thru]

I got stopped out for a loss on my Aquarius Platinum short yesterday

New positions I opened this morning

03/09/2010 Home Retail Group Sep 10 Spread Short 219.24
03/09/2010 DSG International Sep 10 Spread Short 25.08
03/09/2010 Smith and Nephew Sep 10 Spread Short 545.61

I didnt see enough selling pressure in the others I mentioned, however I will check later.

Current P/L£ 4.28

 

[think-it-thru]

2 new positions
03/09/2010 WH Smith Sep 10 Spread Short 414.24
03/09/2010 N Brown Group plc Sep 10 Spread Short 223.73
also a sell order to for Game group at 67.78

 

[think-it-thru]

I got stopped out on my Premier Foods short postion for a loss today.
I might need to have smaller positions and looser stops, more study needed.
If anybody has any words of advice or otherwise, I am thick skinned! I would appreciate any feedback.
Current P/L £2.95
Have a great weekend everybody!

 

[think-it-thru]

I got stopped out for a loss on my WH Smith short position today.
Most of my open positions are in profit so far
Current P/L £4.44

 

[think-it-thru]

My, Game Group, N Brown and Bellway positions are all in the red.
All the other positions are slightly in the black with the Admiral, Croda and Astrazeneca making good gains.
Current P/L £24.25

 

[think-it-thru]

Just got stopped out of my Bellway short position for a loss.
Most other positions in the black.
Current P/L £41.68

 

[think-it-thru]

Upon studying some of my stopped out positions, I had shorted some shares who's price was falling but the sector they were was rising and sometimes they had rising profits. I will check deeper in future.
I forgot to mention , yesterday my Game Group short order got filled at 67.26, its in a slight loss at the minute.
However the portfolio is up.
Current P/L £43.60
Have a great weekend everybody!

 

[think-it-thru]

Good morning everyone Current P/L £49.56
This will change however as i will be rolling some positions tomorrow so will be paying some more spread.
Can anyone tell me whether its best to use a forward contract or a rolling spread?

 

[Hotch]

Depends how long you want to hold your positions really.

It's impossible to know how long you'll be in though really, guess the best thing to do is have a look and see which would have been better, and go with that, and continue to review until it's obvious.

 

[think-it-thru]

Depends how long you want to hold your positions really.

It's impossible to know how long you'll be in though really, guess the best thing to do is have a look and see which would have been better, and go with that, and continue to review until it's obvious.

Thank you Hotch

I have just called the SB company and they have said there is a daily interest charge on the rolling spread if its rolled over, so Id be better going for the next contract, which if I roll over they will charge me half the spread.

Im leaving my positions open until their either stopped out for a loss or reached my profit target and then I leave them open and put a trailing stop in.
I put my initial stop to break even when the price goes through a S/R level thats far enough from my entry, and when I put a trailing stop in I like to lock in about half the profit if I can depending on S/R levels.
I still need to study more and try and figure out , if the trade reaches a profit target, should I close, if I think the move is exhausted or put the trailing stop in, if I think its got more to go. I guess this will come with experience.
Thank you again Hotch

I am a Rookie, and I do like feedback.

 

[think-it-thru]

I rolled over all my positions to the December contract, as I was still happy with them all, and by rolling over I had to pay only half the spread.
Just going to re-evaulate the portfolio now and move stops etc.
Current P/L 38.62
Have a great weekend.

 

[think-it-thru]

Got stopped out for a loss on my N Brown Group position.
Current P/L £26.50

 

[think-it-thru]

Does anyone know what happenned to Astrazeneca on Thursday?
I read some analysts downgraded the stock, but I cant understand why?, I havent seen any bad news, except, there seemed to be some shares taken off the market, is this what is called a buy back?
Then on Friday the shares rose a bit, also there was news on Friday that one of their drugs had been approved in the US. Would that have been a "tree shake "on Thursday then?
Anyway the drop on thursday would have hit my stop if I had been in only a couple of days, however I have made a little profit before so I could afford to leave a bit more room, so Im still in.

If someone could shed some light on this for me and put me right I would appreciate that.

Current P/L £24.51

 

[think-it-thru]

Closed out my Astrazeneca position this morning for a decent enought loss, I shouldnt have let that run against me so far, about £30

Current P/L £8.39

 

[think-it-thru]

I half expected Astrazeneca to rebound, but they havent, so maybe I should have shorted them, however this could have been a "revenge" trade, so I stayed out to clear my head from that position.
The Croda and Mondi positions did quite well yesterday.

Current P/L £19.82

 

[think-it-thru]

Got stopped out for a loss on my Smith and Nephew short position today

Curent P/L £20.70

 

[think-it-thru]

Ive not had time to research anymore lately, so Im just managing my current positions.
Current P/L £34.02

 

[think-it-thru]

My Admiral position was worrying me yesterday. But then I read it was Ex Div date, panic over.
however I tightened my stop as it looks more like a double top than a higher high.

 

[lake_cot]

My Admiral position was worrying me yesterday. But then I read it was Ex Div date, panic over.
however I tightened my stop as it looks more like a double top than a higher high.

Always be carefull mate of looming ex-divi dates when going short