We are down 4%
During the period we were up a maximum of 15%, and it has been a significant drop to take us back to -4%.
The emotions are difficult during these times, mainly as you are trading other peoples money. I traded very well at the beginning of the period to take us 15% up. And then – well there is no hiding or making excuses – I didn’t follow my strategy and, by-and-large, made a series of unfortunate trades on the short side.
If I can liken spread betting accounts to climbing Everest: we started at base camp, got blow down the mountain initially then made a charge up the hill – 15% up. We hit a fissure and, as your guide, I got the abseil ropes out instead of the crampons and possibly a couple of ice picks.
We have slipped all the way back, just down from base camp. To consider a new guide is understandable. This guide – me – has had a few years climbing other, more forgiving, share ranges; this is the 4th year on this mountain, meaning spread betting. I got to the top – well, slightly above the top if you want to picture a short vertical helicopter ride. Another year I got halfway up the mountain and another almost 2/3rd of the way up the hill.
During each of these attempts I’ve re-visited base camp, and once quite late in the year. So all is not lost in our effort to get to the top – which is the same as doubling our money.
I’ve studied the issue hard over the last two weeks and readjusted to help move with the change of the market. I’ve also reaffirmed my strategy and operation. In this game when you get it right, your financial reward is good, but when you get it wrong, the hit always seems higher.