This post is just to let you know what happened in my first week after my trades were set up. In my previous post I let you know which trades I had set up resulting from my spread betting strategies.
By the end of the week 3 out of my 8 trades went into play and the week ended with me being up £9.37!
I first checked my account on Tuesday and none of my trades had been executed. I was a bit disappointed and questioned if my Spread Betting Strategies were going to give me any action!
By Wednesday however, I had my first trade. I bought Tesco @ 390.4 and by the end of the day my position was up by £1ish.
I didn’t check my account again until Saturday (remember that I am using weekly spread betting strategies). When I checked I found that 2 further trades had been executed.
Vodafone was executed @ 137.53, a minimal amount above my requested execution level. Filtrona was executed @ 168.35, well above my desired execution point of 165.7 but having checked the daily charts it appears that it had gapped up on the Friday open.
Tesco and Vodafone finished the week slightly down on the price that I bought at. All my gains have come from Filtrona which closed the week very strongly @ 172.8. There appears to be some resistance at the closing level.
I then reviewed all the trades that went in play to assess whether the conditions for the trades remained. I then reviewed all the previous set ups that weren’t executed to see if they still fit with the spread betting strategies. Once that was completed I started analysing other financial Spread Betting UK instruments to identify trades for this week. I have found a number and set these up on my spread betting trading platform on Saturday.
I will give an update on the trades I have set up later in the week.