I’ve just come back from a seminar given by Worldspreads, the spread betting company that I use. It was a most informative and interesting evening. One half of the talk was given by Alpesh Patel, in which the usual “Mind, Money Management and Method” were discussed. The other half was given by Brian O’Neill of Worldspreads. Both were useful and Alpesh’s in particular was entertaining.
All in all, I think it was helpful in some ways but not in others. I feel reasurred that I do understand how Worldspreads do their business which of late I had felt a bit hazy on. It was also very interesting to find myself amongst other clients. Some looked similar to myself, lost in a sea of suits. Of a less helpful nature is perhaps a confusion that I thought I had dispelled with regard to the style of trading that I believe is best for me. I find myself considering day trading again. But as I sit here, thinking rationally, I still don’t believe that is a viable (or should I say profitable) option for me.
One other thing I found quite interesting was that the level of unease about financial institutions at the moment seems to be even higher than I had believed it to be. Whilst not exactly off my radar, (I have not exactly been keeping a close eye on the stock markets), I expected some pessimism about the markets but there appeared to be a much higher level of fear in the room than I would have thought likely. Northern Rock, it would appear, is in even deeper trouble than I had noticed.
These are merely my impressions of the evening. I’d like to go through the material that they have provided and perhaps run through what I will take from it as a Stepping Stone.
P.S. I’ve just deleted my order for Oil. Once again I pick a winner but chicken out! It’s heading towards 97.50 which would almost have been a doubling of my account size. Everything is so easy in hindsight.