Just made another £304 on oil futures.

[HairyArsedBloke]

Well I am in the process of buying a house but its not as if I can't do that if these last to trades bottom out, however I was only looking to play with £2-300 (now at about a bag of sand), I got stupid, and just kept putting more money in to lower my stops... I may still be OK... fingers crossed!... but I doubt it!

This is a classic example of what NOT to do.

Did I say

[DimPrawn]

This is a classic example of what NOT to do.

Did I say

Never did Nick Leeson any harm.

[Money Money Money]

This is a classic example of what NOT to do.

Did I say

Yeah ******* hilarious....

What a T\/\/AT!

[HairyArsedBloke]

Yeah ******* hilarious....

What a T\/\/AT!

Oh! Get her?

[DimPrawn]

Yeah ******* hilarious....

What a T\/\/AT!

Money money money, must be funny, in a rich man's world.

[Money Money Money]

Money money money, must be funny, in a rich man's world.

Things aren't so bad as it stands right now, just bought another one on the hope of a rise, as long as it keep rising slowly there is chance I could break even. Who knows!

Just don't see what he found so funny, he should hang round the hospitals, loads of misfortune and msery down there to laugh at... what ever floats ya boat hey!

[ASB]

This is the irony of the internet. It's purely something that can be backed up with fact. I have no idea where Falklands' oil prospects will end up. However, just like the spread betting, I can tell you know that I've put down what it took me two years to save as a permie on this 'semi-gamble'. You can look up my posts from a week ago and compare it with the market results. I've no idea whether or not this will work out, but I've got a fair chunk of my house deposit on this. Moreover, and in conjunction with a previous thread, there's a whole age group who has no chance of every owning a house because of the off the scale house price in inflation over the last decade.

This is my punt.

Call me a newbie not worth consideration, but spread betting is so obviously a complete guess over my 'semi-gamble'. I'll report back at the end of February when I've either lost a shed load or be multiples up.

Blimey I sound cross!

Forgot to add, semi-gamble is like semi-skimmed. It's a blend of both.

With a 'semi-review' this is a bit of a rant.

Ok, so maybe you aren't ramping it. But, sure as eggs is eggs somebody somewhere is. Honestly I wish you luck, everybody has to have their teenbagger somewhere. But I think you seriously underestimate the risks involved.

One of the Oil minnows works out from time to time - but for each one that does a lot fall by the wayside. When they do they are very lucrative. I just wonder who sponsored that broker report too (not that I've bothered to read it).

[HairyArsedBloke]

Things aren't so bad as it stands right now, just bought another one on the hope of a rise, as long as it keep rising slowly there is chance I could break even. Who knows!

Just don't see what he found so funny, he should hang round the hospitals, loads of misfortune and msery down there to laugh at... what ever floats ya boat hey!

May be it's because he has between 10 and 15 years experience as a trader and that he was going on about the importance of stops and the consequences of poor trade management recently.

[DimPrawn]

Just don't see what he found so funny, he should hang round the hospitals, loads of misfortune and msery down there to laugh at... what ever floats ya boat hey!

Oh come on, you can't expect to post on here your mad gambling, your winnings etc, your losses and not have people snipe and laugh at you.

[DaveB]

I read the report out of curiosity, it's actually fairly well balanced. For example.

Clearly, 2010 is a big year for the North Falkland Basin explorers and we expect a steady diet of drilling news beginning in February. Having studied prior drilling data and numerous technical studies of the region over the years, we believe the two companies are now ideally placed to pursue a successful drilling programme assuming the geology works. This is exploration after all.

Should drilling be successful, the upside potential for both companies is exceptional. In the case of Desire, a fully unrisked EMV at a 25% discount would exceed 1,150p and Rockhopper’s would be greater than 2,000p based on the same criteria. This best case scenario is unlikely but demonstrates how geared the companies are to additional discoveries.

It also details the various prospects being explored and gives chances of success of 27% at best and down to 8% at worst.

So potetentially your taking a punt with potentially a less than a 10% chance of winning. Better odds than the lottery but still..