Taking off the -£44.72, Closed P/L: £216.19
Today has been 1 of the most stressful as a trader and I couldn't wait for the day to finish. The price of Gold dropped while I was sleeping during the Asian Session, and I managed to get out as soon as I could. I should have set a stop loss, so it automatically closed the trade after losing £40-80 from the highest profit figure rather than having it take nearly 50% but that's life I guess.
Oil has been extremely dangerous, definitely shouldn't play with fire. My trade was up £100 and down -£100 within 1 hour and 5 minutes. Managed to get out for a loss which I am not happy with. The 2 gold trades at the bottom was me trying to re-buy after the price had gone down, but it continued to stall for most of the day so I took them out.
The BP trade I don't care about as it is done on behalf of my granddad who usually prefers William Hill, as he is a massive horse racing fan and bets on them religiously. BP is going down anyway due to having to evacuate their workers out of Libya.
The crazy thing is, I have told him placing any trade on stocks considering the impact the Middle East and North Africa has made on most of the markets is suicide, but he wants me to re-buy BP for him tomorrow!
If you are a trader, my advice is to seek sanctuary in the Swiss Franc, its currency is always strong and doesn't move much in relation to others. Also consider buying US Stocks, especially in the Dow Jones technology market if you can afford it, or stocks in gold producing companies. Obviously buying gold and oil (the actual commodity, not a stock) if you want to try the hard route with more risk and more return.
Goodnight all.
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