FTSE 350 Spreadbet Journal

[think-it-thru]

I think also, TRY to PREDICT the trend. This will allow you to gain much greater profits.

Got in this on 225

Chart | Interactive Investor

Had I been getting in now when the trend looks to be up, I would probably make a loss. Infact I will take profits soon on this as it seems to have stumbled.

another example of tring to predict will generally make you more profitable.

Chart | Interactive Investor

I bought at 150, should have sold at 170 which was my target, over xmas they went hunting stops out and took out a topup I did and ended up making £50 on the trade when if I had sold at 170ish it would have been a nice £250

Hello there romski
Thank you for your reply

Did you get in at 225 after the second bottom or the first one?
What were your reasons for going long at that point?
How will you guage when the trend has stumbled?

Why did you buy at 150 when it was at a near 5yr high?
Why was your target 170?

Thank you again for your help

 

[think-it-thru]

My positions that are still open from October 2012. When I opened them I open them on DEC 12 contracts and I rolled them over to MAR13 contracts.
BPTY
CNA
MONY
DGE
LRE
BOK
NG.
STOB
KENTC
CNE
PDL

I have just adjusted some stop losses today and my profitable positions have brought back some potential equity for me.

My cash balance is now running at -29.9%
My Net equity is running at - 23%

 

[think-it-thru]

Looking back at some of my positions after what ive learnt so far, some of them were just plain wrong choices, and some of them seemed to be good choices but my entry timing was miles out, eg buying when price was way above 200DMA, too big a lot size so setting it above the 200 only to be stopped out and the price bounce off the 200DMA and then rally past my old entry. Closer monitoring needed.
Still in, still learning.

 

[think-it-thru]

my KENZ short stopped out at a loss (for some reason in an earlier post i used the ticker KENTC, i meant to say KENZ)
had my stop moved so I lost about 1% of equity instead of 2%

it looks like its in a range, im wondering wether to re enter a short.

Current P/L -18%

 

[think-it-thru]

Opened an new short position in
KENZ today @ 395.14

Current P/L -15%

 

[think-it-thru]

Closed out 2 losing positions
DGE
LRE
8 Positions left open
Current P/L -20%

 

[think-it-thru]

Closed out my KENZ position ther other day at a small loss.
Ive not been on here for a while and some things have changed.
I have 7 positions currently open
NG. long
CNA long
CNE short
BOK long
MONY long
PDL short
STOB short

Current P/L -20%

 

[think-it-thru]

I closed out my STOB short at a loss today

 

[ryandj2222]

I closed out my STOB short at a loss today

What's your overall P/L now?

I trade FTSE 250 and small cap stocks in my ISA and Sipp (not spreadbets at the moment) so quite interested to see your page here. How do you decide what to buy/ sell?

I find that these free high/low breakout lists are good from Morningstar for picking longs (high breakouts) or shorts (low breakouts).

Morningstar® Integrated Web Tools

 

[think-it-thru]

Hello ryandj2222
Thank you for your reply
My P/L is now -26%
I decide what to buy or sell based on sector, price trend, e.g long a rising stock in a risong sector and short a falling stock in a falling sector.
I look at profit vs turnover and debt also.
As you can tell, my methodology needs tweaking, well tweaking might be to light a word, revamping or changing might be a better word.
In my spare time i read , read , read, about the markets. Trading, investing, hedging , speculating, etc.
How is your P/L?
Thank you for the link! ( I had actually written that before I looked at it, then I looked at it so I added the !)
The reason for the ! is that I can get almost the same information from advfn except the lists have no index filter, which makes research easier as the small caps etc can have wide spreads with spread betting. So thank you again for that link.

 

[ryandj2222]

I used to use advfn for those top lists but now the free ones suffice. My p/l has been good starting this year bout 20% or so but prior to that hadn't been doing well DUe to no real plan or strategy. And following tips from others.

 

[think-it-thru]

Nice!
Do you just use the break out lists?
Are you long on the b/o high and short on the b/o low?

 

[ryandj2222]

I don't tend to short as I trade in an isa. Mainly trade breakouts on small caps. Usually wait for a bit of a pull back and don't buy everything just try (note try not always right by a long stretch) to buy ones going up well. Look at debt broker views profit etc.

 

[think-it-thru]

I closed out my CNA long today Current P/L -23%

My current positions are
NG. long
Bok. long
CNE short
PDL short

 

[think-it-thru]

Mistakes which I am making which I may have mentioned before and now sound obvious.

My system seems robust enough, but as I learn more from books etc and some of the really helpfull feedback on here, I might not think its robust, but Im using it as a consistent reference point for now.
However, as my positions dont seem to move much each day, I dont check them every day so then when I look at them they have moved quite a bit and I havent chosen to tighten stops etc.
so positions have lost more than they could have, if I had kept an eye on S/R levels and major MAs
The temtation is to load up the positions to where I would be worried if I didnt check them, however I know I would be checking them because of fear and that would cloud judgement.
Also that would be exceeding my limit of 2% per position
I just need to check them every day on my laptop with a big screen so I can really see a chart or read news and figuers, not just check them on my iphone ipad etc.
I dont revise the closed out positions immediatly therefore missing out on some good re entry points that could have been profitable.
I havent openend any new positions for a long time, so I have cash thats not doing anything.
Im not sure yet, what I a wise % of my equity to hold in cash.
I need to spend a little more time in research and not in reading trading/investing books. Books are good and perhaps necessary, but I like reading them as its always positive, however I need to research more live companies and make decisions on the hard right edge. So less reading about the past and more reading about the present.
Lost of school boy errors here, I doubt Lex Van Dam will offer me a job anytime soon!
I will continue to research new positions using the current criteria.
I have been looking at some new criteria for some possible plays and some recovery plays which I will post later.

 

[think-it-thru]

Possible plays and recovery plays, based purely on tangible book value being more than market cap.
My theory being that they could be undervalued. They are all in the FSTE 350. There would need to be more research to select fewer shares as there are a few in the same sector.
DJAN
CEY
HMSC
BLT
HOC
MLC
VED
ABG
RDSB
CCL
ETI
ESSR
KAZ
BARC
BHGG
BHMU
BRWM
BABS
BTEM
CLDN
EDIN
ELTA
FCSS
GSS
INVP
JMG
MNKS
PNL
RBS
SDP
TEM

 

[think-it-thru]

My book is now at -15%
I had a short on GAW which was a profitable trade.
I know now its not in the FTSE 350, but when I placed the trade i didnt realise this.

 

[think-it-thru]

Closed out my GSK long this morning on the news. It was in profit, but the price looks rangey over the last couple of weeks.
Also closed my CNA short at a loss.
The only position I have open now is NG.long which is in profit, I have moved the stop up to protect some of the profits.
Current P/L -12%

 

[think-it-thru]

Closed out my NG. long for a profit on ex div day.
the ex div did catch me out.
I have no open positions at the minute.
P/L -12%

 

[think-it-thru]

Wow! is it that long since I have posted?
What a year