So, you think you know spread betting huh?...

[CoolerKing]

Guys - I got it all back. 11.7k still down a few hundred from my total I think but a loss is better than a catastrophe.

No greed, as soon as the p&l account was my previous balance I cashed out.

It dropped another dollar after my limit but I have had enough swings for one weekend.

I am going back to micro trades, refining my system in markets I know.

Thanks for the support, the advice and the constructive criticism.

 

[Splitlink]

Congratulations. :clap:

Now do some more.

It's great reading about it without taking part in the action, oneself! :clap:

 

[Ross Spur]

Guys - I got it all back. 11.7k still down a few hundred from my total I think but a loss is better than a catastrophe.

No greed, as soon as the p&l account was my previous balance I cashed out.

It dropped another dollar after my limit but I have had enough swings for one weekend.

I am going back to micro trades, refining my system in markets I know.

Thanks for the support, the advice and the constructive criticism.

Pleased you survived to fight another day. Let's hope you learn from this experience.

 

[Hoggums]

Yes, congrats - you were lucky but that few hundred loss is worth more in experience than any trading course could ever teach you.

 

[Ross Spur]

You tend to wonder how much FB would have dropped if this hadn't been a generally up day.

 

[wackypete2]

Well, a guess is the best I can do take so take it with a grain of salt.
DISCLAIMER: I am NOT investing or trading in this stock at all.

The most likely scenario that I see is there are plenty of traders sitting on a loss and looking to get out. Many will place sell on open orders that will drive the price down initially when NASDAQ opens. After that? Best you can do is roll the dice.

Peter

Whoohoo! I was right
Makes up for all the times I was wrong! lol

Congrats to the OP for getting his money back.
Please, please, please...learn a free lesson here.

Peter

 

[Ross Spur]

Whoohoo! I was right
Makes up for all the times I was wrong! lol

Congrats to the OP for getting his money back.
Please, please, please...learn a free lesson here.

Peter

Yeah, lucky escape. I wish my noob mistake of holding a NIKKEI position overnight, and then finding it had gapped about double my already generous stop, had been as painless.

 

[wackypete2]

Yeah, lucky escape. I wish my noob mistake of holding a NIKKEI position overnight, and then finding it had gapped about double my already generous stop, had been as painless.

It's a funny thing how over the years there have been a seriously disproportionate number of stocks that gapped against me overnight then gapped with me. I finally realized my prowess at picking overnight positions sucked at best

Peter

 

[Splitlink]

Over the weekend positions in this financial climate suck,even more. God knows what G8 would dream up in Camp David's gym. They'd come out leaner and meaner, I would imagine.

 

[e_dash]

I feel for you buddy, that's one heck of a loss. I'm still relatively new to it, so spread betting terrifies me a little. I've spent entire days looking at my charts in dismay because I've been in the red for so long.

Doesn't help that I make rookie mistakes like place a buy order on the UK rolling daily when my platform is clearly quoting me a 5 point spread...

 

[CoolerKing]

What sort of positions are you holding? What platform?

 

[e_dash]

Me? It was just a quick bet on the UK 100 rolling daily using Capital Spreads. I should've noticed that 5-point spread difference that's now cutting into my profits! After the market opened it went down to it's usual 1-point spread.

 

[Rupert206]

Which spreadbetter lets you go short facebook stock? CapitalSpreads doesnt allow it...anyone know who does?

 

[Splitlink]

I feel for you buddy, that's one heck of a loss. I'm still relatively new to it, so spread betting terrifies me a little. I've spent entire days looking at my charts in dismay because I've been in the red for so long.

Doesn't help that I make rookie mistakes like place a buy order on the UK rolling daily when my platform is clearly quoting me a 5 point spread...

Hi, man. I'm glad you found this site. It gives an insight on certain drawbacks in trading. It's not, just, about picking the right instrument to trade. It's making sure that you protect yourself, getting the best spreads, getting out before the close, too.

 

[CoolerKing]

IG index let's you short FB stock.

 

[Splitlink]

Finspreads do, too.

 

[p-lab]

Guys - I got it all back. 11.7k still down a few hundred from my total I think but a loss is better than a catastrophe.

No greed, as soon as the p&l account was my previous balance I cashed out.

It dropped another dollar after my limit but I have had enough swings for one weekend.

I am going back to micro trades, refining my system in markets I know.

Thanks for the support, the advice and the constructive criticism.

Well done CK. Capital preservation - That way you can always live for another day. Some things can't be taught IMO and I believe you have experienced one of them.