Over 60+ pts of positive movements today

I spent today in books. Studying for my Accountancy Exams which I have on Wednesday. I reluctantly started around 10am after finding excuse after excuse not to do it. “Oh wait, I don’t have my calculator”, “oh, and I need a coffee first of course”, “hmm, i’ll just check my trades before I start”. Eventually, I ran out of ideas and so got stuck in.

Once in I was pretty much stuck there for the day, raising my head for 20 mins to eat some lunch and back down into the books until about 16:00.

The UK markets close off at 16:30 and if you’ve ever used IG Index as a platform before you’ll know that some trades shift in price after closure between 16:30 and 17:00. As a result I usually won’t bother checking my trades until after 17:00 as the markets are closed and it’s a good opportunity to take a daily snapshot of how things are going.

To my suprise I’d had a healthy day. A lot of my trades had moved in favourable directions at the same time and with 13 trades open at the moment the shifts tend to be quite big. Well, big in comparison to what i’m used to anyway.

Overall my trades shifted a combined 50+ points in the right direction bringing me in a good £65+

And that’s what I love about Spreadbetting. I spend the day revising for an exam and behind the scenes i’ve made £65 tax free. Not bad for a day’s work doing nothing.

Of course, the downside to it is that it could all move in the wrong direction tomorrow and i’m back where I started, but I think it’s important to celebrate the good days and getting those few steps closer to reaching profitability. If you take a look at my profit graph you’ll see that i’ve been pennies away from making this a profitable venture in the past but after investing £1500 of my own personal money and opening a lot of trades at once my position fell largely due to the spreads. Another day like this tomorrow and i’ll have moved into a profitable position. Who knows?

My best movers were EUR/GBP which fell 34pts. I’m short on that trade so i’m making money all the time the Euro falls against the pound. BT fell 1%, again a trade i’m short on, and ITV fell 1% also. At the same time Mucklow Group plc, a trade i’m long on (I make money if the share price rises) moved up 0.13pts. However, most of my success came from all my trades making small gains in the right direction.

Here’s a sneek update of how the profit/loss graph looks after todays positivity. I expect this’ll drop again at some point, it won’t all be success going forward, but it’ll be interesting to see where this is by this time next month.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: