In my post below about the distribution of education, I mentioned a list of things I wanted to do while on the MBA programme. Lower down on the list (with a few scribbles running through it) was to fire up the ol' spreadbetting account and test whether it really is worth sticking the pension pot on a hunch about crude oil futures.
The good news:
1. I will not have a lot (i.e any) excess cash available next year while I am studying so my bets will be "disciplined" and "measured"
2. The last time I accessed my account was in October 2008. Surely nothing in the short-term will be as vomit-inducing as October 2008?
3. They say an uncomfortable loss is a rite of passage and changes your approach to spreadbetting forever. As a risk-loving 21 year old in rural Japan, I got my rude awakening one winter morning while juggling a position on GBPJPY and a visit to the hospital to have a dog bite treated. I am not in a hurry to feel that losing sensation again any time soon (which oddly enough felt worse than the dog bite stitches...!)
The bad news:
1. I met my 2 new flatmates a couple of weeks ago. Great guys. I think we will have a good time living together. They both like spreadbetting though. This is not so good.
2. As you learn about new markets, you start to think you can use the information to make better informed trades and you become more aggressive in your trades. This is about as logical as saying you should play more hands of roulette because you can now count in Serbo-Croat and Bahasa as opposed to just French and Mandarin.
Now to work out an approach....watch this space (any tips gratefully received...!)