Mistake1:Ridingyourlosses

Whenaspreadbettingpositionstartstomoveagainstyou,itseasytoconvinceyourselfthatthesituationistemporaryandwillsoonturnaround。

Afterall,youenteredthatspreadbetforareason。

Andthemorethemarketgoesagainstyourspreadbettingposition,thegreaterchanceithasofcomingbackeventually,surely?

Besides,yourspreadbethasalreadyreachedanunrealisedloss,whatdifferencewouldalittlemoremake?

Thisishowyouturnasmalllossintoabigone。

Ofcourse,themarketmightturnaroundintime。

ButasCityIndexpointsout,chancesarethatyoullhavebeenwipedoutbythen。

Thelesson

Haveasystemandsticktoit。

Haveaplanforwhenyoullenterabet,howmuchyouwanttomake,andhowyouplantogetout。

Andifyoudecideonastoplosslevel,dontgomovingitfurtheroutifitlookslikethebetismovingagainstyou。

Mistake2:Notthinkingaboutwhyyoulostmoney

Thelastthingyoufeellikedoingafteryouvelostmoneyistoconductapost-mortemonhowyoumessedupsobadly。

Itjustfeelslikehavingyourfacerubbedinit。

ButasCityIndexputsit,alosscanactuallybemorevaluabletoyourfinancialspreadbettingeducationthanaprofit。

Thelesson

Acceptthateveryonemakesmistakes,andtrytoworkoutwhatwentwrong。

Wasyourrationaleforbuyingsimplywronginthefirstplace?

Didyoumoveyourstoplossinthehopethatthingswouldturnaroundbeforeyougotstoppedout?

Ordidyoutrytoletaprofitrunfortoolong?

Ifyoucansitdown–perhapsevenwithanotepad–andanalysewhereyouwentwrong,theresafarbetterchancethatyouwontmakethesamemistaketwice。

Bettertoendurethediscomfortofdissectingyourownerrorthantowastemoneybymakingitoverandoveragain。

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