Following yesterday’s Trade of The Week feature, in my warts ‘n’ all style I thought I should update you on what happened next. Unfortunately, the price of London Capital Group shares fell back thereby triggering the stop order on my original position for a loss of £25.33 including financing costs.
The good news is that by “averaging down” twice and then taking some of the bounce-back profits, I managed to come out of it with an overall profit (including costs) of £18.96 as shown in the “P&L Breakdown” Report below:
You can scale up the numbers to suit your budget.
I know we shouldn’t “average down” on losing positions, and I’ve probably even said as much myself, but sometimes it pays off. It’s just a pity I couldn’t hang on in there for the possible “big push” higher on the original position, but a small profit is better than a big loss!
Two Steps to Better Spread Betting:
Disclaimer: this posting is for general education only; it is not trading advice.