Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I did have an account with IG for about 3 weeks back in Dec 2017 into Jan 2018 along with seven other spreadbet firms in an effort to spread around a large position in BT but I closed all of them except cmc as they have the clearest interface esp regarding costs and account positions.
That's interesting JAdam never heard of such unscrupulous dealings before, i'm currently with them.
Will look into ii, cheers for the tip
It was cmc JAdam
Yes I did panic but look at the timing and that funding charge is crazy. I've never seen a 180% charge I know it can fluctuate, WTI is around 23% for longs.
Then there was that Yen spike on Jan 2nd last year, Yes you guessed it. I had one of my biggest position ever in USD/jpy long and because it was so large I put in graduated stop losses, some thing I never use. It went straight through those in 5 minutes from around 1.09 down to 1.04. £35,000 gone in 5 minutes and it would have recovered all that loss and more by the following afternoon if I hadn't used stop losses, Unbelieveable surely!!
Multiple large buys just gone through,lets have a good afternoon here GLA
in it to win it...go on Tullow go on girl ...take me to the moon!
Just as an example how the gods conspire to do me.
Last week I had a £70/pt long on brent cash around the $23 level. The overnight funding charge suddenly changed from receiving 6.8% p.a. to paying 180% pa which meant I paid £790 for just one overnight hold. I panicked in case the poo fell further and I would then be committed to another daily charge of £790. As a result ,not only did I take a hefty loss, but missed out on that spectacular rise in brent. Unbelieveable!!
Remember mate. TLW share price should be at least four times more than what it is. It will get there, but not overnight. You will see some falls that will make you panic, like next week it could go up and the week after fall back to 25-28p. If you want to get a good return just remain patient and don't let the fluctuations make you lose focus of your end goal. Ride out the storm and reap the rewards.
Thanks rd, It just seems that whatever I do I get it wrong ,it's quite uncanny really hence my comment about the reversal in the sp when I bail.
Thanks Baz, that's exactly what I need, patience. I really should stop looking at the price every second of the day.
wish you luck mate this last 6 months has been f*** misery for us all, doesn't matter what you bought. Compounded by leveraged shorter snapping up peoples savings and pension plans. Hold and make it pay, if you need to, walk away, turn the chart off. Just don't sell.
Be patient and don't panic.
In my opinion you will see TLW shares come up to around 35-40p after tomorrow and Friday's meeting. After that I would expect it to drop around 5-8p. But don't panic and hold firm. Once we reach July you should see a nice rise towards the 45-50p mark. By October I would anticipate it hitting 70p plus.
There are other factors that could make TLW spike like the appointment of a new boss, streamlining costs etc. Just hold tight and don't lose patience. This is my opinion, but I think it is a fair outlook given the circumstances and situation we are in. Covid-19 is the Achilles heel at the moment.
ok folks, i'm in but I gotta warn you my record at this is abysmal so I've probably jinxed longs here.
I've picked TLW as my last hope to recover horrendous losses spreadbetting, It's an out and out gamble but that's what I have basically been doing since I started.
The intention is to hold for the medium term but if (when) it falls badly I'll probably panic and sell out, At that point all longs can relax as ,undoubtedly , TLW will then begin it's relentless rise back to previous levels that all underwater longs are praying for.
At the moment I've a £1,200 per point spreadbet (ave. 25.2p) but hoping to get to around £4,000/point. At £4,000 I'll still need 58p to b/e. I'm adding at £50/pt. as the spread is very wide on bigger amounts.
GLA