My Week of Spreadbetting

Well I started the week at an overall profit of £53.73 and with about 1 hour to go until US markets close I’m sitting at a profit of £82.17. So I can’t complain.

23259591Over the last week my open position made the following profit/loss points:-

BRBY PROFIT of 20pts, GPOR PROFIT of 0.2pts, PEARSON LOSS of 19pts, SAINSBURYS PROFIT of 2pts, GOLDPROFIT of 20pts, XYRATEX PROFIT of 5pts.

The reason I didn’t make as much of a financial profit as I should have done was due to opening a double/pyramid position on GPOR which is sitting at a loss right now until it’s given the time to do its thing. My initial GPOR trade has taken over 50 days to get where it is so there’s the chance of another long wait on this one. Slow and steady is that trend.

Looking at my financial results weekly i’ve been down approx £80 a week since mid may. A frightening trend in itself. This week i’m down £30 compared to where I was end of last week. I can only hope that the under-performing trades have a better week next week and continue their trends. I’ve two which could be close to being closed out by my stops. Trailing stops have helped to limit those to relatively small losses should I they continue in the wrong direction.

Not too disheartened. I’ve made some large mistakes on trade picks over the first 2 months of my strategy, more importantly I think I have learnt from them, so onwards and upwards perhaps. I’ll announce my next pick in a couple of weeks when we hit July. Just to help show the process I “should” be going through to find the right trend. Will also be welcoming any input and opinions on it all.

This weekend i’ll mostly be hoping for good weather so I can finish plasterboarding my kitchen walls (DIY project) and looking after my son who turns 1yr old on 1st July, and studying for my accounting exam. And if I find the time I might surf a few foreign shares and see if anything floats my boat.

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