Hi

just when you think it can't possibly get any worse - and it does, BIG TIME!!

Absolutely awful day with my portfolio reaching new depths - around £850, with a profit/loss figure at -£370! It's a miracle I've had no stop outs, but another day like today and that'll pretty much be the end of my short life in spread betting; I'm not joking I really can't sustain another day like today...

Maybe I'll look back in a few months and think what a narrow escape I had - or not..!

Anyway I had to sell a few contracts today because I had a warning email from IG Index about not enough funds to cover my deals, etc., etc..

I'm just pleased I've bought into some shares because, unless the company goes bust, it's no big deal to see the prices fall; I wish I'd done it earlier.

See you tomorrow, BIG AL

BigAl,

Welcome to the "Investment School of Hard Knocks"

As I see it, you now have two options:

1) Give up!

or

2) Treat your losses -- I've seen worse, and experienced worse -- as the cost of your tuition at the aforementioned "school". Learn from your mistakes, if you can figure out what they were.

Too greedy placing big bets while it was going well? Too concentrated in one sector?

We all go through good and bad patches, and I manage this by trying to make sure that I lose less during a bad patch (the past year) than I make during a good patch (the year before). And by not being too reliant on a successful outcome.

Best of luck,

Tony, the Position Trader

Hi Alan,
I agree with Tony, it would be a shame for you to quit. Maybe a different strategy is in order personally I always thought you made huge positions in shares very quickly.
It would be a shame to see you go, I've always enjoyed reading your posts.
Take it as a lesson, close positions and re-evaluate. You seem to have the ability, just need to take it slower.

_________________
Spread Betting Trader
http://spreadbettingtrader.blogspot.com/

Hi

many thx for comments -with which I totally concur; I do have the choices you've mentioned, and I think I will 'battle' on and hopefully get through this current bad patch.

Through pure happenstance I've ended up with most of my (remaining) funds backing just 2 shares: SOUND OIL and RANGE RESOURCES. This is not an ideal situation and, as soon as I'm able, I'll try to return to a more diversified position; in the meantime I just have to bear with it and 'stay in the game' until the markets become more favourable...

Cheers, BIG AL