If you’ve been following my twitter account, you’ll notice I’m diarising all of my trades on there as I make them. You’ll also notice that yesterday I was taken over by Olympic Fever (big ups to Nicola Adams!) because I wanted to get in on some gold action too – and it proved very profitable, my most proftable day yet, actually.
I am still holding my position on CHW because it just looks stronger and stronger but it looks like I’m going to have to wait a week or so (maybe even longer) to get some further upside here. Alas, in the absence of any other excitement, I am trying to find other markets to enter.
I spotted the recent upswing in RBS but to me, like I said on twitter, the underlying trend seemed to be biased downwards. Taking the path of least resistance, I felt the current rally in RBS would eventually fall away and continue on its trend so came into this at 223.58 with a short target of 213 @ £5 p/point. See the chart where I made this decision to the right.
Olympic Fever
I always check Spot Gold and couldn’t fend off my desire to trade in it today. I mentioned yesterday that I still felt it had a bit of an upswing left to go to reach 1620 before I believed it would drop back down to 1600/1606 and opened a long position at 1611 yesterday with a target of 1620.
I managed to close that out at 1618 today for a good profit, but the best was yet to come. I watched the price fall back to 1613 over the course of the evening and without any news happening in the world that could give it any more upward impetus, I shorted it at 1612 with a target of 1607. Turns out I got lucky.
Opened Positions
Spread Bet Longs:
- None
Spread Bet Shorts:
- RBS : 223.58 @ £5 p/point with STOP LOSS at 229.58
- Spot Gold : 1612.66 @ £25 p/point with STOP LOSS at 1615
Closed Positions
- Spot Gold Long : 1611, closed at 1618 @ £10 p/point = £70.00 (opened yesterday)
- Spot Gold Short : 1612.66, closed at 1607.66 @ £25 p/point = £125.00 (opened today)
Profit/Loss for Day
+£195.00