On Thursday night I was feeling great about CFD stock trading. I was in the green and even though some of my trades were making losses the majority were making a small profit, with a few making profits of nearly 20% on my margin. By tonight the market had swung completely the other way, all my small profits now small losses, and my bigger profits down by about 40%. As I have very small positions and no stop losses on theses trades, I am still in all my positions. I have planned to sell out of all the marginal positions as soon as they break even, and wait for the market to recover again.
I stick to my strategy of small positions over a large number of stocks. Time will tell if my assumptions are correct. Next week I will sit down with an experienced trader and pick his brains, running through my trades and checking whether I bought at correct levels and set take profits at correct levels. Remember, all boats rise with a arising tide. I am going to rise irrespective of the tide - through learning, practice and good advice from experienced traders.
It' s all good fun!
This weekend is Carnival at Jess's school. I really am looking forward to the sand art, face painting and pony rides with Jess and Jake, a great opportunity to "BANK IT!!", building memories and living the dream.
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