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Spread Betting Traders DiaryOpening a new spread betting account13/7/2007 Day 10
This morning when I went to login to my Capital Spread demo account, the website was not working. Unfortunately I had to wait for about an hour before it was working properly again. Once I was up and running I found the market had not changed too much from the time I left it the day before. My first move was to make a couple of diverse bets. I ended up with six bets, one currency, one commodity, one market, and three UK stocks. When picking the stocks I looked for the ones that had the most change for the day and I bet it would go the other way. It worked out that all three were down drastically for the day, so I went long on all three. Just like before I was loosing money out of the gate. My market bet was the first one to make money. I am going to remember my strategy of holding until I am making money. The only problem with that strategy is that all of my trades have automatic stops, which were automatically set by the company. This could make it challenging to figure out what to do when it gets close to the stop.
Half way through the day I was making about £50 on two bets, so I decided to close those two and leave the others. At the end of the day, I had a gut feeling that my two bets, which were loosing money, were not going to do any better than what they were at, so I decided to close both of them. I chose to do this because they had been loosing money all day, and at this point they were not loosing as much money as they had been. I will check them in the morning to see if I had made the right decision. |
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