This is the second review of my spread betting strategies. After my first week, my account that had started at £2000 was standing at just over £2009, not bad for the first week.
The week started with 3 trades still in play from last, these were Tesco, Vodafone and Flitrona. I had then set up 6 trades to be executed at my set entry price. Last week was bad for the market generally and it wasn’t surprising that only one of the trades I set up was actually executed.
Tesco – I had bought at 390.4 and these closed the week at 407.35
Vodfone – I bought these at 137.53 and these finished the week at 134.55
Filtrona – Bought at 168.35 and closed at 168.35
So out of the 3 that started the week, only 1 remains in profit.
The trade that was executed this week was Friends Provident. This was bought on Friday @ 84.5. It actually finished the day at 81.6.
Overall it wasn’t a good week. The week was fine up to Thursday were my account move to £2025.44. By the end of the week however the account closed at £1997.06. I guess the ‘big’ swings are a consequence of the spread betting strategies.
The market had a volatile week last week with a sharp decline on Friday. It will be interesting to see how the market opens on Monday as the loss I have incurred up to now may be extended.
Interestingly last week has opened up lots of potential trades for me this week. The purpose of the Spread Betting Strategies I am using is to identify shares on weekly charts that are in an uptrend and then buy once it has had it’s pull back.
As you can imagine, most shares had a pull back last week and therefore this led to me identifying 29 possible trades for this week. I have set up 20 of these. I couldn’t do 9 due to the limited size of the capital I want to risk per trade.
I will let you know the full details of these 20 trades and the set up details in the next post of my spread betting strategies blog.