Starting Again With a £500 Opening Account Balance

So it’s been an eventful couple of weeks. I deposited £500 at the end of July into my spreadbetting account with Ig Index and in the space of two weeks, managed to trade and make a profit of £470, only to trade some more and lose all the profits to take me back to my original starting amount (+/- a few quid). I think I’ve learned a little bit, and will now try trading again, this time with a more disciplined approach.

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Taking Profits to Give Margin Room

I’ve held CHW for a couple of weeks now and it’s had a high of £150 paper profit for me. Today the price dropped a few points and reduced my paper profit to £90. I decided to ‘double down’ at this point after reading p.165 chapter VII of ‘Reminiscences of a Stock Operator‘ last night. In the chapter, Jesse Livermore suggests somwthing he describes as ‘pyramiding’. The gist seemed to be that when you are in a positive swing in your direction, buy more, “stocks are never too high for you to begin buying or too low to begin selling”…

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