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Trade of The Week on Tullett Prebon

By on July 10, 2013 in capital spreads, intertrader, position trading, stop orders, trade of the week
It’s been some time since I posted a “Trade of The Week” feature– sorry about that, but I’ve been busy with other things. Anyway, here is one that went right… but probably for the wrong reasons. A nominal £1-per-point exploratory trade on Tullett Prebon has performed nicely since it was opened as a potential position trade in a Capital Spreads account in April:

Trade of The Week on Tullett Prebon

I actually can’t remember why I opened this trade, but I think it must have had something to do with the fact that the price had fallen back to a level (X marks the spot) that had been a convincing support level at various points in the past.

Tullet Prebon Chart

Well, the support didn’t hold (again), but the price didn’t fall far enough to trigger my initial stop order. So I hung on in there for an eventual profitable result. I now don’t think this was a convincing trade at all, but a profit is a profit (however achieved), and most of the profit is now guaranteed thanks to my guaranteed stop order indicated by the higher horizontal line. IMO, the best guaranteed stop orders are provided by Capital Spreads and InterTrader.

Two Steps to Better Spread Betting:

1) Buy the Better Spread Betting Book
2) Sign up with Capital Spreads, IG, ETX Capital, or Spread Co

Disclaimer: this posting is for general education only; it is not trading advice.