Ok so the title Black Tuesday may be a little over the top but it’s certainly fitting as far as my spread betting goes. You may recall me saying the other week about seeing a £65 increase in one day well today it went the opposite way. It’s only 9am and I’m already realising a £70 drop. The thing is the £65 increase and the £70 drop were never really a profit or a loss but paper profits and paper losses. The £70 drop was from my Misys position which bombed today (hence the black Tuesday). It tanked and took my stop out with it. That said I still made a £10 profit overall on the position so at least that’s better than a loss. The only problem is I keep thinking about the £100 paper profit that I could’ve had if I’d closed out the position near the top of the price rise. Still that wouldn’t have been in keeping with my strategy and the trade could have so easily gone the other way and kept on rising. So I guess it’s just the way the cookie crumbles. With the paper profits and losses never really being mine I need to view them as just that not mine and I can’t miss what I never had. Still doesn’t stop me thinking about it though.
Until next time,
“May the markets be with you!”
Harry,
The Spread Betting Beginner
