Spread Betting Traders Diary

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Placing Spread Betting Stop Losses

4/7/2007

Day 3
My third day of betting I continued with the spread bettting strategy from day two, ‘bet and hold'. Today this strategy has not been working in my favour. I have lost more than I made, about £100 in the hole. Tonight I will be putting a spread betting stop loss on three of the bets that are still in the red. I will leave these bets alone for three full days (Friday, Saturday, Sunday) and see what happens.

If I were to pull out all three of the spread bets I would loose more than £300 so I will be leaving them, hoping that they will not go too much farther down. As for where I set the protection, I chose prices that were very close to the ones suggested by the program, I chose to give myself the ability to loose more than they suggested.