I was lucky enough to have taken a stake in gold miner Centamin Egypt at just under 65p-per-share when its share price was in the doldrums in late July, since when my SIPP holding — not a spread bet in this case — has risen by more than 40%. Here’s how the Centamin chart (courtesy of Spread Co) has developed since:
In this case, it’s nice to see that the up-trend seems to be resuming after the most recent pull-back.
I was also lucky enough to have taken a spread bet on another gold mining company — Patagonia Gold — at around the same time, and the following chart (courtesy of IG) shows how the share price has performed since I bought at 17.9p-per-share.
In this case I’m pleased to see the “ascending triangle” pattern that seems to have formed during September and which bodes well for a continuation of the up-trend.
In both cases I have locked in at least some of the profit with a better-than-break-even stop order, and on the spread bet it’s guaranteed not to result in a loss.
Two Steps to Better Spread Betting:
Disclaimer: this posting is for general education only; it is not trading advice.