Monday 30 March 2009

Things that make me nervous

These last two bars represent one hour's trading (click to enlarge):

My response...

Sold: one June Long Gilt at 122.72 (to close a long position).

To sum up my first month back in the game after a twelve-year break: three lucky trades, one stupid one, one unlucky one, and I'm up about a grand. I must concentrate on being a) luckier and b) less stupid next month.

3 comments:

Steven_L said...

I lost £1,200 last year trying to trade cfd's for the first time. As much as I'm gutted I didn't get rich quick it was very educational.

So far this year I made £56.70 on a £1k Vodafone bond then moved into Man Group shares at 198.5 a couple of weeks ago.

Since they've announced they are maintaining the dividend and buying back stock I've removed the stoploss, I'm going to take a long term view on it.

I had £69 left in my cfd account which I geared up on a grands worth of long Vodafone stock at 114.9p since interest rates are so low, I'm just going to leave it and hope I called the bottom.

I can't be chewed with buying and selling all the time this year, it starts to get too much like playing roulette and the gambler in me takes over and loses all my cash.

Mark Wadsworth said...

SL, the key to all this is being lucky. Which involves having the ability to stop the gambler in you taking over.

Steven_L said...

Yeah, I'm touching wood this AHL thingy isn't some kind of Skynetesque ponzi scheme.

I quite like the idea of owning some manic leverage-addicted computer system that mega-rich folk chuck their money in though.

I don't reckon Obama will get even half of what he wants on the tax-haven/hedge fund issue, the executives are locked in stock options and I'm counting on their greed being greater than what I see as mainly irrational fear surrounding this stock.

Next I'm looking for something in the consumer or utilites sector which has sound assets, that I think is undervalued, pays a dividend, has no pensions black hole, stable funding and is inflation-proof.