Just made another £304 on oil futures.

[RichardCranium]

Just made another £304 on oil futures.

I've made just over £1000 tax free in the last week.

When I saw that I was all glum and sorry for myself. Wrong sector knowledge, no capital to invest, blah, blah, blah. Ended up feeling inadequate and useless.

But I cheered myself up by reminding myself I don't gamble. I don't do one-armed bandits, I have never bought a lottery ticket, I have never been in a bookies let alone placed a bet. Any my short time in investment banking did nothing to convince me that the "speculation isn't gambling and if you say it is you're sacked" statement was true.

I see it has all turned round to rat-tulip and there was sod all you could do about it. I assume (and sincerely hope) that is money you did not need for Xmas. That it is a few £k you use to play with on the markets for educational purposes.

But if it's any consolation at all, you have provided a valuable lesson to the rest of us - the naïve and easily impressed - that if it can all go belly-up for those 'in the know', the rest of us are better off out of it.


No, I'm not gloating. I'm not in any position to gloat.

[Money Money Money]

When I saw that I was all glum and sorry for myself. Wrong sector knowledge, no capital to invest, blah, blah, blah. Ended up feeling inadequate and useless.

But I cheered myself up by reminding myself I don't gamble. I don't do one-armed bandits, I have never bought a lottery ticket, I have never been in a bookies let alone placed a bet. Any my short time in investment banking did nothing to convince me that the "speculation isn't gambling and if you say it is you're sacked" statement was true.

I see it has all turned round to rat-tulip and there was sod all you could do about it. I assume (and sincerely hope) that is money you did not need for Xmas. That it is a few £k you use to play with on the markets for educational purposes.

But if it's any consolation at all, you have provided a valuable lesson to the rest of us - the naïve and easily impressed - that if it can all go belly-up for those 'who have no idea', the rest of us are better off out of it.


No, I'm not gloating. I'm not in any position to gloat.

FTFY

[Money Money Money]

I am actually still in with 2 trades (1 lost £300), although unless things turn very soon i'm in trouble!

[HairyArsedBloke]

I see it has all turned round to rat-tulip and there was sod all you could do about it.

I disagree - there was plenty he could have done about it.

Here is wisdom:

Nobody ever went broke taking profits.

- I'm not laughing at you having a loss, but your trade management and expectations.

There was plenty of opportunity to take profits or cut the losses.

[DimPrawn]

The only saving grace was the money I lost was the money I pinched from the Help the Orphans of Worn Torn Countries charity tin.

[The_Equalizer]

Unknown Smart Arse

Hey although I'm a complete lurker on this board, I thought I'd post that I popped a bit of the house deposit on Desire and Rockhopper last Friday. They start drilling in the North Basin in February. Falklands Oil & Gas have tranches in the South Basin which is far deeper water and haven't yet secured a rig. Anyway, there are about 3/4 million penguins in the Falklands and about 3 thousand people, oh plus a few sheep.

P.s. Spread betting is pure gambling.

If any of you fancy a semi-gamble you'd so worse than have a nose round Falkland oil prospects as per my post last week. Just doubled up (which is bound to spell trouble!). Am up 10% since 27th November on DES/RKH and 1% today on my double up. It's a bit more safe (but only a shade) than spread betting.

[EternalOptimist]

a semi gamble.
semi gamble, I really am going to have to get my head round that. Give us an analogy edwood

[The_Equalizer]

a semi gamble.
semi gamble, I really am going to have to get my head round that. Give us an analogy edwood

An educated gamble based on knowledge that's available to everyone. Is that better? Anyway, I've not lost £1000 spead betting today.

[The_Equalizer]

Perhaps I should add that there's a good chance that oil will be found and then you're multiple £££. I could loose the lot should they not find oil. I'm calling it a semi-gamble.

[EternalOptimist]

Perhaps I should add that there's a good chance that oil will be found and then you're multiple £££. I could loose the lot should they not find oil. I'm calling it a semi-gamble.

okie.
I hope you're better at spreadies than you are at educating us dumb-bells, because I still dont know the difference between a gamble and a semi-gamble


maybe you mean a gamble that you are sure will pay off