just a quick update on how things are progressing so far.
Well I'm just coming up towards a year in spread betting and I'm still here - which, of course, is the main thing; also I'm slightly wealthier, but not by much! After almost 12 months of 'sweat' and 'toil' my profit thus far is around 150%, which is quite good I suppose, at least compared to more conventional forms of investing. I started with £800 and my account funds are about £2100 - actually they're £500 less as of 15 minutes ago!
(More about that in a moment).
Anyway, back to the March howgozit. In a nutshell I would say that March has been a very mediocre month for spread betting - at least in my portfolio! My account funds have ranged between £1800-£2300 or so throughout the month and, to say the least, this has been very frustrating. On the plus side, to be fair, I've managed to hold my own, and I'm pleased that I've ended the month slightly better than I started. On the down side I've had so many stop outs I've actually stopped counting. I think I started March with 60+ contracts and I'm now down to 24! I have 9 x contracts in SOUND OIL, 2 x contracts in RANGE RESOURCES and 2 x contracts in KENMARE RESOURCES.
As you can see I have over half my portfolio tied up with just 3 shares, which is not ideal, but it's just the way things panned out. Hopefully as things improve I will open more contracts so that my portfolio is more diversified.....
Right, back to my account funds. Because of all the aforementioned stop outs I actually ended up with about £1500 in my IG INDEX funds account; normally I would hang on to this to use for further bets but I decided to take £500 out and, dare I say it, purchase some REAL shares - all part of my new diversification policy!
So, there it is for MARCH 2011. In a nutshell it could have been a lot worse, so here's hoping for a stonking April!!
Cheers, BIG AL