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Spread Betting Traders DiaryThe Spread Betting Markets Swing17/7/2007 Day 12
When I left for the weekend I let two bets stay running. The first bet was on the FX (foreign exchange), I went long on the GBP/USD; the second was on Home Retail Group. When I opened my account on Monday morning I found that I was gaining £500 on my GBP/USD. I was hesitant on selling it because I am almost positive that it will be getting higher for the next couple of months. I ended up selling because I didn’t want to ignore the greed factor, which I have already faced with other bets. As for the bet on Home Retail Group, I was loosing a little money, under £10, but from all that I have been hearing I am sure it will raise. I left the bet alone for now.
I added two bets to my book this morning. I went long on S&P500. I watched my the market go down and back up within 2 hours, so once I saw my position earning £20, I sold. I had a similar incident with FTSE 100. After I bought FTSE it went down, and stayed down all day. It was about one hour before the market closed when it started to go back up. I saw my position earning £25 so I sold.
I have slowly figured out that I am very risk advert. I do not like holding positions unless I am certain in which way the market will travel, therefore I close once I see a gain in the bet. |
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