Robbie Burns’ Trading Diary
An example would be Sepura which I bought this month on a rolling bet. At the time of writing I’m up about 7 points and now considering my first “average up”. However, if I’d bought it and it was now down 7 points, I suspect I would simply have already taken a small loss. If it carries on rising, I expect I will continue to average up. However, of course, if question marks should appear I would start to exit. Of course, averaging up or taking quick losses doesn’t work for everything. After all, sometimes I’m not sure. So remember last month’s mag I took you through one trade? You don’t? Course you don’t, but if you want you’ll find it in last month’s issue. As reported last time, I bought at around 325, targeting somewhere near 400. I’m up nearly a grand at the mo. I am going to carry on following the plan. If it carries on going up, I may well average up, especially if it heads though the 400 mark.
If it starts to sink, I could maybe sell half and wait and see about the rest. Anyways, September is on the way (can you believe it?!) and usually time to be a bit cautious, especially as it’s been a good summer. If things start to sink, what better route than spreadbetting to take advantage, because we can go short. September can be a stinker. Fund managers are back from the beach and they might want to take profits, Euro troubles are still there, make no mistake about that, and do remember Sod’s law... It’s best to follow the trend of the market and take an open view. Visit Robbie’s site at www.nakedtrader.co.uk to learn more about his seminars or drop him an email at robbiethetrader@aol.com referencing Spreadbet Magazine
September 2012 | www.financial-spread-betting.com | 23