Posts Tagged Spreadbetting
I had a really nice short in the GBPUSD market today with a trailing stop. I closed out early for 56 pips however when the market was retracing.. it retraced 25 points before it fell heavily (another 50 points) to 16500.
My actual exit is a trailing stop loss and it would have not hit it before it fell. The old trading adage 'cut your profits short and let your profits run' is a key principle to be successful in trading and I'm annoyed by myself that I broke the rule.
The chart is shown be
May 3, 2011
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Welcome back to normal markets again.. I'm glad that the holidays are over and that the markets are open for business again. I have enjoyed the Betfair trading which to me seems far easier to make a profit than financial trading so I'll need to assess and look into it further.
Anyway, back to business, something which I've been watching of late is how the market responds to pivot lines. Today the FTSE price hit the pivot line 6101 and also being the round number at 6100 provided a huge amount
May 3, 2011
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![More trading on the DOW]()
I was actually looking to buy the DOW if it could get above 10330 but it didn't and started to look weak.
I shorted it manually at 10290 with a stop initially at 10314. It kinda dwindled for a while, obviously the S2 support line was providing support for it. When it start it make it's way upwards I was thinking.. oh well, another losing trading but as soon as it hit the pivot line, it fell and tanked a good 30 odd points.
My first target was 10260 but the DOW is rather volatile and when i
August 16, 2010
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