RE: Red Braces Brigade13 Apr 2021 17:16
S - Clearly you don't need any advice from someone like me, but I trust you have a strategy to withdraw "some profits" so that you do not risk loss of all gains.
when I had a good run with CFDs in 2004, as soon as I doubled my starting pot, I withdrew half and used it for family holiday going on our first ever cruise. After a while I transferred to spreadbetting and after another good start it all went belly up, when I got taken out by a huge market gap down, and CMC sold my position miles below my stop loss order (while I was not watching the market), so that my account balance was negative and had to repay them. Since then I've never used leverage again, as thought my stop loss offered guaranteed exit protecting my capital. A planned/controlled £200 max. loss became a loss of over £2000. Worse thing was my position would have been in profit if CMC had not executed the closing of position.
As a result I find stop-losses are more of a hindrance than a help, unless you can get a "guaranteed stop loss" which comes with a premium, and not available in normal SIPP trading account.
With respect to the dead wood - can you split into hold and trades ? I've only got small p/f as you know with 12 shares.
My biggest ones with GSK, IMB and RDSB are part hold and part trade.
Some are LTH - ASEI, AEWU, NG, SUPR.
Some are trades - 88E, AVST, CEY, NCYT, POLY.
Any of the LTH can be sold to add to trading funds if needed. Like T says best to liquidate rubbish and move on.
Just make a plan - even if you don't follow to the letter - it gives some freedom to let go.
I've made a number of changes to my plans thanks to ideas from Brigadiers.
Just some thoughts ... GL
Cheers - C