Monitoring of open Spread bet positions

gmca686

Active member
117 3
Hi All,
This subject has probably been discussed before, but I can't find a clear answer.
When I started Spread betting on Indices a few months ago I was not concerned to leave positions open when I was out of action for a day or two on business. The trades quite often were showing good profits on my return. Lately, however leaving a trade open unmonitored has resulted in them being stoped out.
I am doing something wrong! What is it?
1 Breaking a rule by allowing a profitable trade turn into a loss?
2 I should not open a position unless I can constantly monitor it?
3 If I got stopped out, the problem is incorrect entry points?
4 My initial trades were beginers luck. Today is reality!

Any advice gratefully received. What do you all do?
regards, GMcA
 

cassiopeia

Active member
133 2
YGMcA

You should have have a clear idea of when to close positions, this may require setting a predetermined stop loss with the SB company or constant monitoring depending on how your strategy works. If you are going away for long periods the former method is probably best, however you can get alerts sent to a mobile via ADVFN

http://www.advfn.com/cmn/alert.php3

You should be able to estimate where to set stops based on the past history of the share you are trading, try different levels on paper and examine your results allowing for typical spreads during movement. However, remember these characteristics can change over longer periods.
 
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