I’m still here
Hi All,
I’m sorry I haven’t updated the site in such a long time… I do have every intention of keeping this up. In fact, my last thought I had was to split up the blog into sections. I could have a section called spreadbetting (indices, forex), then binary betting, betfair, online casinos, property etc.
I have dabbled in all of these… have made and lost money in all.
Anyway, I’ll give you the latest.. for those who have been reading and are aware that I have joined a trading academy… my results so far have been ok. I had a bit of a disaster a couple of days ago by reading all the wrong signals.. I bought thinking the market was going up, it dropped… I then sold thinking the market was going down, it then went up. In days like that, when the markets are choppy, it’s best just to leave it.. just wait another day, preserve precious capital! Anyway, my results are starting to improve.. I think it’s down to the following:
- Patience. Wait for the opportunity to go long/sell. If you miss it and the market is shooting through the roof.. leave it.. don’t try and ride it. Wait to see if it retraces and then buy into that for a safer entry.. unless it’s hit some solid resistance. Remember, there are always opportunities… save your ammo for those trades which look rock solid. There is a fine line between actually trading and gambling when you’re going long and short.. so be aware!
- Discipline. We’ve been taught for every trade.. put in a stop and a limit order. The stop should be 2/3 of the limit order. Once you’ve put on the trade, leave it.. don’t mess around with the stop and limit once you’ve submitted.
Did you guys see the stock market crash last night? Actually, I didn’t see it happen as I was out at a leaving do but just so you know, I put on a spreadbet to short the Dow on Wednesday evening. I checked it again this morning to find that I was almost +400 points up! Wahey, not a bad days work!!
I’ve also done quite ok this morning from the markets so all is great!
Oh, I’ve been doing the binary hourly betting on the DOW also. It’s amazing if you can get it correct.. we’re looking at a lot of points every hour. Binary betting for those that don’t know have only two outcomes 0 or 100. The market swings through these values and if you all it correct then you can ride a big movement even if the underlying market isn’t doing much. Markets for each hour start at 50/50 and will end up either 100/0 or 0/100. This means that every hour you can see 50 points of movement.. I warn you though, it is very volatile and you can lose a heap of cash if you don’t know what you’re doing. The Wiki entry for Binary Betting for those that want to know more http://en.wikipedia.org/wiki/Binary_bet
Ok all, please leave me some feedback now and again if you want me to discuss anything. Let me know what you think of this blog.. is it full of shite or do you like it?
Thanks
Alan
