Saturday, 03. June 2017
I made a mistake in my CFD account yesterday during the day (NZ day). I wanted to short Gold as the chart really looked good and i thought its due for a step down, looking at the longer term charts. So i set up the trade on Plus500 and pressed the button. Right away i realized i had forgotten to put in my custom position size and had just left in the Plus500 standard size. So instead of my usual 20 ounces of Gold, i had shorted 200 ounces. I couldnt take it off right away because the spread that Plus500 makes its money with had put my position $70 in the red. (Thats also the reason why i only want to stay with CFDs as long as i have to be able to have a account big enough to pass the PDT rule. Anyways, i was at work and i had stuff to do so i monitored it only sporadically, which is another mistake, but it was going my way and was up about $150 after just a few minutes. So i kept it on and watched it go to $350 before i had to focus on work and left it unmonitored for about 2h. Next ti...