RE: Phycological support21 Aug 2023 23:52
No mowing from me, just stating that 200 being a big round number is now a psychological support as it’s dipped below and quickly got back in and is now in this range. Technicals point to 195 or 212 range.
I’m just happy that my spreadbet position is now finally closed, man spread bet put me on edge. From experience I urge anyone new to investing please don’t spreadbet or leverage, you will most likely (and by that I mean 99%) find yourself way over exposed.
I was lucky/brave/stupid enough to see it through but there will be many others that won’t. If your spreadbet position is closed because of margin requirements or MM’s triggering stop losses and it shoots back up… your money is gone!
So please be careful, build up your isa annually and go for a longer game. Far less stressful!