Hi All, BP up a tasty 5% today on the oil price spike. Can’t imagine it’s going to stay there if the oil price drops back as seems highly likely to me at some point. Thinking about selling while the price is elevated and buying back when the price falls back to secure a 5% uplift to my BP dividends….?
ATB
Pref
Got a credit card? use our Credit Card & Finance Calculators
Thanks to Anonymous,bruncher,niord,gvonge,Shelford, for Donating to support the site
BP Trading Opportunity ?
-
- Lemon Slice
- Posts: 597
- Joined: February 9th, 2019, 8:24 am
- Has thanked: 31 times
- Been thanked: 258 times
-
- Lemon Quarter
- Posts: 3579
- Joined: November 7th, 2016, 1:56 pm
- Has thanked: 1601 times
- Been thanked: 1422 times
Re: BP Trading Opportunity ?
PrefInvestor wrote:Hi All, BP up a tasty 5% today on the oil price spike. Can’t imagine it’s going to stay there if the oil price drops back as seems highly likely to me at some point. Thinking about selling while the price is elevated and buying back when the price falls back to secure a 5% uplift to my BP dividends….?
ATB
Pref
Why not save yourself the trading & stamp costs and (short) spread bet the BP price?
Take the profit once done and buy more shares.
If you really do believe its "highly likely".
-
- Lemon Slice
- Posts: 597
- Joined: February 9th, 2019, 8:24 am
- Has thanked: 31 times
- Been thanked: 258 times
Re: BP Trading Opportunity ?
moorfield wrote:Why not save yourself the trading & stamp costs and (short) spread bet the BP price?
Take the profit once done and buy more shares.
If you really do believe its "highly likely".
Well moorfield, I guess that’s maybe what a confident trader would do. But I have tried spreadbetting and managed to lose a fair amount of virtual money trying out some trades, so I can easily believe that most who do it lose money. And that’s not an outcome that’s acceptable to me.
If things move against me (ie the BP share price rises and stays elevated) then with my approach then I am just left with my sale proceeds, which I could then deploy elsewhere in the market if I can’t buyback into BP. If I spreadbet and that happens I will lose money and a lot more than the stamp duty and brokers commission. No contest IMHO.
Also doing things your way would involve moving money back and forth between my ISA and the spreadbetting account, which would likely cause me problems with the annual £20,000 ISA limit.
But each to their own.
ATB
Pref
-
- Lemon Slice
- Posts: 597
- Joined: February 9th, 2019, 8:24 am
- Has thanked: 31 times
- Been thanked: 258 times
Re: BP Trading Opportunity ?
Hi Again All, Well thought I’d have a bit more time to execute my plan but looks like the oil spike may be over already and BP has already lost about half of Monday’s gains. Oh well.....next time !.
ATB
Pref
ATB
Pref
Return to “Trading my way to a million”
Who is online
Users browsing this forum: No registered users and 7 guests