16th November 2020 (day 213)
Port value £27,255.76
Loss of c£2200.00
(84 days in my profit was c£5000.00)
I purposeful haven’t updated this blog for some time. Mainly because I didn’t want to add to the negativity around the forum, but also because I haven’t traded much. I sold and re-bought a few players during the double IPD promotion, but apart from that I haven’t bought any new players.
The drop over the last four months has been relentless. Market sentiment is very low. People expect the market to fall further still which leads to buyers sitting on the sidelines and sellers listing at market buy prices (and driving prices down) Hopi g to then re-buy at lower prices. I don’t blame either buyers or sellers for this. They must do whatever they think suits them.
On 19th November, I’m expecting another drop as, it seems, are most traders. At some point we’ll find a floor and hopefully look back on this carnage as a low point in a long journey.
I don’t want to slag FI off too much, but they really do need to realise that they have lost a lot of respect from their customers. They continue to make big mistakes. Hopefully they will now realise that traders need openness, liquidity and stability. Don’t keep changing the bet an introduce promotions. More than anything they need to reduce commission on buys and sales.
I’m not selling up nor injecting new funds. I’m confident in a lot of my buys and the underlying concept of FI.
I hope you can all weather the forthcoming storm and still be trading when the sun shines again.