Yes of course il share more detail, glad i found the site really as i havnt really got it off my chest yet. Im 36 and are lucky i guess in that I have a reasonably well paid job so i will recover over time. I wouldnt have traded if i wasnt secure. I have been trading for around 3 years. At the start tho, I bought shares in oil companies, making a little, losing a little and never really getting anywhere. Now I am a day trader spread betting and rarely hold trades older than a day or two. When my account was £15,000 plus, I was opening positions from £50 per point, up to £500. Mainly if a trade made a few pips showing anything from a £1,000 profit I would take it and close the trade then wait for another short/long opportunity in any market, be it dax, wall street, s+p500, ftse, us light crude, sugar etc. The last trade i made was on the germany 30 on 23 august at 09.50 going long at £200 per point. I entered at 5596 with no stop loss. (criticism accepted, my choice). I knew that the index would drop(despite being an up day), but given that the price had recently found support following a nosedive in the german economy, the index had been showing strength previous days so had no issue with the trade showing an initial loss. my rationale was that there was sufficient funds in my account to cover this initial loss until price began to head in the direction my research suggested. Unfortunately the price fell to the point it wiped out my account. The frustrating thing is, once my account was taken out, price began to rise in the predicted price range and my account would now be showing a £55,000 + profit. It was as though, the sb company i used knew they were going to be paying out substantially on the bet and the price was pushed down. I was watching the chart live as it happened and couldnt believe how it was forcing down so much, especially without any sort of negative news. The only positive to come out of this, is i know where i went wrong and this will give me the confidence to come back.
