I just realised it was over a week since I last posted a “Trade of the Week” feature. How lax of me! The previous one was my Lucky Escape from Lamprell, and this week I thought I’d provide an update on the same trade, not least because it gives me another opportunity to show off the IG Index and ETX Capital charts that I like very much. I like them because they allow me to visualise existing open trades as shown in the two screenshots below (from IG Index and ETX Capital respectively).
The important thing to note about this continuing trade is that in both accounts my protective stop order (as shown) is at — or just better than — my break-even buy-in price. So, notionally, these positions are “risk free” with the only real danger being the possibility that they go nowhere for an extended period of time. But with interest rates being so low right now, and with the leveraged profits that may accrue of the price takes off, I’m too worried about any ongoing financing charges.
Disclaimer: this posting is for general education only; it is not trading advice.