Stupid Newham council has took my car because according to them I parked in foot path. Needless to say it is bull$hit but it cost me £250 and half a day which I wasn’t happy with it at all. I can dedicate a whole blog about Newham and their annoying mayor, but this blog is about money and not politics.

So I promised my wife that I will cover the lost with spread betting and I had a plan. Worldspread has offered me £250 cash back if I open an account with them. So my plan was to take this offer and cover up the (stupid) Newham loss.

But I am so busy lately that I haven’t had the time to deal. But on Thursday morning I saw the Dax at 4815 and I thought this is my chance. That day was my birthday as well so I thought it must be my luck day.

My target was to make £1000. So I’ve made a £2000 deposit into my new account and I was looking to open a short position on the Dax, £10 a point, with 25 points stop loss so my £250 cash back will be the limit, meaning no lost what so ever.

Good plan but Worldspread doesn’t offer the option to add a stop loss to an order! so I couldn’t just order and forget. I had to open a position manually and then put a stop loss. But I didn’t have the time to follow the market. I had a meeting with a client on Friday and nothing was ready yet. And it was my birthday so many phone calls.,. so my plan to open an order at 4830 with 25 point stop loss was all gone.

And what happened in the end? The Dax went down to 4730… my £1000 profit if I could stay focus follow the Dax and choose the right place to enter. Instead I had nice birthday, finish the project for my client at Friday (early) morning and still have £2000 in my Worldspread account waiting to be invested. After all I need to cover this parking ticket.