The downside to Doubling Up on Spreadbetting

Wow, what a day. Full day at work, back home, working into the evening until 11pm and just getting a post in before I go to bed. I haven’t checked my trades all day so have just logged into my IG Index account and taken a look at whats happened.

I can immediately see i’ve made a small loss today simply by looking at the balance of my account which has dropped by approx £20. Nothing to cry over. Looking into the trades I can see why. Last week I decided to double up on my GPOR trade. It had ridden so high that my trailing stop moved higher than my entry point removing any chance of a loss. There were no signs of an exit so I doubled up. Sods law that today the share dropped more than it has in ages. Reducing my profit on my original trade and increasing my loss on the doubled position which has yet to move into profit.

My other trades had an average day, most making small gains, but these served only as damage limitation due to GPOR. I’ll sleep fine with a £20 loss though. Monday’s are always a drag right?

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