Just for fun

[mjcp]

Hi,

I'm new to the forum and still quite new to spread bets, my chosen method of exposure (I have been dabbling for a year or so on and off).

Here's my current history (starting with a £75 stake).

7/5/09 FTSE Daily, open 4442.4, close 4461.3, £2 per point, £37.80 profit

12/5/09 FTSE close >4435.5, open 45.7, close 59.3, £1 per point, £13.60 profit

12/5/09 FTSE close >4435.5, open 32, close 39.7, £1 per point, £7.70 profit

12/5/09 FTSE close > 4435.5, open 8.2, close 0, -£1 per point, £8.20 profit

Currently only bet when I'm in the office, my preferred bet is a FTSE to close as this limits my risk, handy if I get called out on site!

My biggest mistakes: Getting greedy/cocky and opening up a second position or trading more than once in a day (eg making a profit, then trying to double dip). Still doing it now! (hence 2 x positions today... trying to be greedy )

As the title says, its for fun! would like to increase the stake size then apply some more logic, eg less capital at risk etc.

Background:

Mid 30's, self employed in IT, had an interest in the markets for years.

Cheers,
mjcp

 

[poi1987]

I agree with mjcp







probeware Gillette razor Gate valve ed hardy shirt

 

[mjcp]

? Spam?

 

[mjcp]

Today's round up, 1 silly position, rescued by a couple of smaller ones.

Today I open a position based on a few resources I keep an eye on but failed to fully read the relevant charts... silly! cost me £31.60

I then took 2 more positions and recovered £17.60 and £9.38 respectively.

FTSE to finish Up >4425.54 - 64.4 open, 32.8 close, £1 per point - £31.60 loss
FTSE to finish Up >4425.54 - 31.9 open, 14.3 close, -£1 per point - £17.60 Profit
Wall st Daily cash close >8270 - 93.3 open, 100 close, £1.40 per point - £9.83 Profit

The loss was a stupid mistake, not only did I not follow my research but I then tried to run a second position and ended up closing my current one at the loss shown... doh!

I then tried to open my Wall st position at 70 odd but didn't have enough funds to cover the multiple, by the time I'd changed the bet figure, it was up to 93... doh!

Hey ho on we go...

mjcp

Running totals:
Since 1/5/09, my £75 is UP 192%
This month to date I am UP 192%
Today I am DOWN 3%

 

[mitch101]

Hi, mjcp

Can I ask which spread bet firm you are using, which charts and where can I view them? Would you mind elaborating a bit on your methodology? Thanks

 

[mjcp]

IG, std IG charts.

Process based on news, overnight activity etc. Remember, with binary spread bets your betting against an end point, but you can also make and lose based on other peoples opinion of what currently going on.

mjcp

 

[advfntrader]

starting with £75 (or now £100 odd) and doing £2pp you are very under capitalised. - ideally you want £1000 to be doing £2pp.... a few bad trades and you will be wiped out. good luck though, I'm interested to see how you get on. what gets you into the FTSE trades ??

 

[mjcp]

Had a bugger of a Thursday last week, been licking my wounds...

FTSE to finish Up [ >4331.37] -£1.50, open 50.6, close 30.6 £30 PROFIT
(a good start, stuffed up by the next muppet bet)
FTSE to finish Up [ >4331.37] -£1, open 34.6, close 52.4 £17.80 LOSS

(recovered a bit by)
FTSE up > 20pts at 3pm -£1.50, open 10.4, close 3, £11.10 PROFIT
(and another moron bet)
Binary FTSE down > 10pts at 3pm £1, open 24.5, close 0, £24.50 LOSS

(and another ...)
FTSE to finish Up [ >4331.37] -£1, open 72.7, close 95.5, £22.80 LOSS
Binary FTSE to finish Up £1, open 95.6, close 100, £4.40 PROFFIT
Wall Street Daily Cash £1, open 8334, close 8339, £5.00 PROFIT
Wall Street Daily Cash -£1, open 8334, close 8354, £20.00 LOSS
Binary Wall St to finish UP £1, open 76.1, close 100 £23.90 PROFIT

Not a good day all in all, still doing dumb things...

mjcp

Running totals:
Since 1/5/09, my £75 is UP 178%
This month to date I am UP 178%
Today I am DOWN 8.5%

 

[mjcp]

Today I have had a better day....


Binary FTSE to rise, 15:25-15:30 18-MAY-09 open 76.5 @ £ +1 close 100 £23.50 PROFIT
Binary DOW to rise, 16:30-16:35 18-MAY-09 open 71.4 @ £ +1 close 100 £28.60 PROFIT


Simple trades, simple money.

mjcp

Running totals:
Since 1/5/09, my £75 is UP 247%
This month to date I am UP 247%
Today I am UP 39%

 

[mjcp]

starting with £75 (or now £100 odd) and doing £2pp you are very under capitalised. - ideally you want £1000 to be doing £2pp.... a few bad trades and you will be wiped out. good luck though, I'm interested to see how you get on. what gets you into the FTSE trades ??

FTSE (and DOW), index bets on the whole seem to be a little easier for me to understand... I wouldn't have time to fully research a company/currency day to day to know where to bid etc. the major indexes are analysed on TV, the net on an almost hourly basis. The UK and The US tend to lead each other at various times, there is plenty of info on info release times to add to the data.... the Asian markets can have an input to; just seems easier to piece together... (if only I could stop second guessing!)

As for bad trades, well I tried my best to wipe out last week! I've been there and done that in the past, hence I like limited risk binaries at the moment, no hassel with missed/late stops etc and no worries of having too much cash tied up to cover large limited stops either.


Cheers,
mjcp