BP: Why it’s hard to get excited about spread betting

I tend to work on The Spread Betting Blog mores when things are going well.

Unfortunately market conditions have meant things have not been that fun in the spread betting world as of late.

In fact spread betting is pissing me off.

To be more specific, BP is pissing me off. It is caught in a nasty little downtrend that is rapidly approaching my stop loss which is threatening to undo all the good work of the past few months. I will hold tight though and avoid the temptation to make a rash decision and prematurely get out of the position. (Rookie error).

In the past I have mentioned that I prefer going long, this is partly because instinctively I am more comfortable with this kind of trading. I should grow some balls and start shorting some stocks and commodities to enhance my spread betting strategy but to be honest I don’t really have the time to invest in the extra research this would entail and I would rather just stick to playing the stocks and commodities I have become familiar with.

I do have my eyes on WTI crude at the moment, it is falling nicely, but instead of shorting it I am looking to wait for it to hit about 90 and then start considering a longer position.

So while I wait for BP to turn things around I have one eye on spread betting WTI.

Oh, and I promise to be more attentive to The Spread Betting Blog in future guys.