# Trading CFDs?



## Ken (29 August 2007)

Just wondering who here has traded CFD's.

With any success/disasters?

How did you start?

I understand how they work, considering starting off trading with $5000 and gaining exposure to $20,000-$50,000 worth of a stock like OXR or ZFX.

Just wondering how you went in the correction?

Did you benefit, or did you lose massively?

How tight were your stop losses etc?

I think its an interesting one.  I intend to do a number of simulations before I even register an account.

I see no reason why one can't master the art of CFD's like anything else on this earth...


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## Uncle Festivus (30 August 2007)

*Re: Trading CFD's*

Hi Ken,
A search of ASF will find plenty of postings on CFD's and how people have faired with them.
To be blunt, CFD's are for lazy investors/traders hoping to make twice the money in half the time, but end up loosing most if not all their capital.

There is only one genuine non gambling use for CFD's as far as I can see, that is to hedge against realising a capital gain on a share position.

Unless you are very experienced with shares then save your money.


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## porkpie324 (30 August 2007)

*Re: Trading CFD's*

Uncle F, I feel like a naughty schoolboy just been caught at the TAB, surely where not that bad, how about the option or warrant traders they in the same class. porkpie


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## tasmanian (30 August 2007)

*Re: Trading CFD's*

Uncle festivus why are cfd,s for lazy people???doesnt make sense.its the same as a margin loan to a certain extent.I believe alot of eople including mum and dad investors take out margin loans.

I think cfd.s are great allows you to go short which is great in this type of market where the swings are great for holding a day position or loneger if you like the risk./going short you even get paid interest plus brokerage charges are alot less than you average comsec,etrade etc.

If youy careful with them understand the risks it shouldnt be any different to normal trading.Just because you put $10000 in a cfd account doesnt mean you have to go and make a $100,000 trade.just play it at the level you are comfortable with.same as always folllow rules keep losses small let winners run etc etc.Dont expect to make huge amoounts but slowly but surely you can get your account higher.

Ken if you start a $5000 account work out the max loss on each trade you can rxcept $200,$300,$500 whatever and buy your parcels accordingly.From the sounds of it you have been thinking long about and arent going to jump straight in and blow up your account.It all comes down to the trader and if you can pick the winners.

cheers


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## Hawkeye (30 August 2007)

*Re: Trading CFD's*

Ken - all good points made already.  I trade CFD's with IG markets - and would happily recommend them or CityIndex which I have found useful as well.  As for the correction - well - it was a bit of an 'Even Steven' ride for me.  I was short on a few and long on a few...and managed to pull the trigger on some which, believe me, is the toughest thing to do with CFD trading...knowing when to get out.

I have found CFD 'simulation' helpful to better understand margins. I play around a fair bit with Concensus Trader - http://theconsensustrader.com.au/
and found it a good learning tool.

As for funds...I open positions on the index (Australia 200 - $5 mini)...if I do well (e.g 2 contracts short on August 1)...then that money goes into opening a position on a company...that way if it goes belly-up as it has in the past - I really haven't 'lost' anything...just put it down to continuing the education needed to trade CFD's.  Good luck.


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## tasmanian (30 August 2007)

*Re: Trading CFD's*

gday hawkeye,

Im with ig as well.seem pretty good.cant complain its my trading that looses not there platform.lol

anyway ive been thinking about those mini contracts as well.if you get a chance do you mind giving a run down on how they work.

eg currently the buy is at 6178 sell at 6176 so i understand to go short and long.so if i put in 10 contracts is that $50 for every point rise and $50 for every point  drop???is that how it works.

cheers


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## Uncle Festivus (30 August 2007)

*Re: Trading CFD's*



tasmanian said:


> gday hawkeye,
> 
> Im with ig as well.seem pretty good.cant complain its my trading that looses not there platform.lol
> 
> ...




That's how it works yes.

I should clarify my previous post a bit. What I should have said was that if you are new to investing then cfd's are probably not the place to start your 'career' as you have to be very disiplined with stops and losses. You just can't let a cfd loss grow into a bigger loss thinking it will turn around; capital preservation is the number one rule, more so for CFD's.


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## Hawkeye (30 August 2007)

*Re: Trading CFD's*

Yep - What Uncle F said...capital preservation is the number one rule.

Also - IG Markets and City Index have different values per contract.  I believe IG are far more straight forward and a bit better looking as well.  1 Contract = $5...every point therefore is 5 bucks...If you're going to open positions on the index - worthwhile having a look at Bloombergs Economic Calender.  Our markets do follow the US...and if you're up late on a Friday night - you can make a killing.  See what the latest announcement is - e.g last week was a double wammy - 10.30pm our time the Durable Goods report came out and at midnight the Housing report came out...both went against analysts reports and were good news items...DOW went up, up and away and the AUS 200 followed suit about 3 minutes behind....nice work if you're up late watching the footy and making money at the same time kicking back with a beer.
http://www.bloomberg.com/markets/ecalendar/index.html
My advice is don't get too greedy too fast...you need $350 bucks in your account at all times and you can keep your position overnight - but good luck getting much sleep if you do that at the moment!


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## CFD (30 August 2007)

*Re: Trading CFD's*



tasmanian said:


> ~~
> eg currently the buy is at 6178 sell at 6176 so i understand to go short and long.so if i put in 10 contracts is that $50 for every point rise and $50 for every point  drop???is that how it works.
> cheers




So I guess you are $100- behind to start with from the spread. I understand this is the only cost, but does the spread widen when volatility approaches?

What hours does this market operate?


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## Ken (30 August 2007)

*Re: Trading CFD's*

Well yesterday I noticed Tabcorp went to $15.40 on really low volume after hitting a 5 week low.

It closed today at a 52 week low.

I would have gone short @15.40  and then again today on close as it closed at a 52 week low and there is a lot conjecture of the Horse Flu.

So i think it might be further south for Tabcorp.

It also went Ex -div so there is no incentive to hold TAH at the moment.

Maybe I am wrong.

See how it goes.

I have written it down on paper.

The trend at the moment is definitley heading towards south...and with long term support broken, then next support levels are a long way down, so I can see TAH potentially heading towards the $12-$13 on a chart basis. But the dividend at those prices would be very much a buy.

Short term I think further south until the horse flu is cleared up...

Anyone agree?

Thanks for the input
Havent opened up an account yet. Will just see how i do on paper.


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## tasmanian (30 August 2007)

*Re: Trading CFD's*



CFD said:


> So I guess you are $100- behind to start with from the spread. I understand this is the only cost, but does the spread widen when volatility approaches?
> 
> What hours does this market operate?




Gday cfd,

Im not really sure how this market works.hawkeye gave me more of an idea.sounds like its open when the market is closed???if you cna do it on a friday night it must be.

Ive only ever traded shares but trading the index sounds good.especially lately everytime the market has come around 6187 its dropped.I wouldnt be holding any position overnight though as hawkeye said way too volatile atm.

Does anyone elsse out there trade this???I might have to give ig markets a call and get the rundown.eg whats the brokerage is there none just the spread.any info appreciated

cheers

Does anyone else trade this


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## Kauri (31 August 2007)

*Re: Trading CFD's*



tasmanian said:


> Gday cfd,
> 
> Im not really sure how this market works.hawkeye gave me more of an idea.sounds like its open when the market is closed???if you cna do it on a friday night it must be.
> 
> ...




 The IG ASX 200 cash market runs 24Hrs... apart from a short break before and after our market opens and closes... the spread during market hours is 3 points from memory... out of hours it widens... at the moment it is 6126.5-6133.5... but it varies, I have seen it go out to 10+.... there is no brokerage as such, just the de-facto brokerage of spread.. if you use GSL the minimum stop distance(same on all their index CFD's) is 5x the current spread, and also there is a 3 point fee for it....
    Hope this helps
 Cheers
....Kauri


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## bvbfan (31 August 2007)

*Re: Trading CFD's*

CFD's were great during the correction eventhough I did not short anything.

Used CFD's to buy into OXR what I sold from long term holdings.

Sold OXR stock to buy into other stocks that were not available via CFD's.

Also trading a short term with them they are great.

But I've been doing physical shares for 6 years now


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## monkey187 (6 September 2007)

*Re: Trading CFD's*

Man I only started trading CFDs this year. The correction RAPED me. I lost more in that month that my total investment gains for the past 3 years... I made a large chunk of it back on the rebound but im still hurting bad. 

If i had gotten into CFDs in a couple of years ago I would have been so much better off. But during a correction, leverage can really hurt you. And those big jumps in macquarie bank, spiking way past MA20 kept hitting my stops and forcing me to sell b4 the stock bounced back... ahh the sorrow. 

Anyways - i have not given up on CFDs - just have to go back to the drawing board and work on my trading plan - im taking a break at the moment caus the market is still 2 uncertain and volitile.


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## kerosam (6 September 2007)

*Re: Trading CFD's*

BNB & PDN were my first two shorts. Got in when BNB was mentioned in the sub-prime crisis. As for PDN, just read the down ward trend & thought I could ride it. End result, lost in both positions- bad. 

Long BHP when they reported about their 'too much money, don;t know what to do with it' news. Held for 4 days. Very small profit (better than nothing, i guess).

short ANZ on Monday and close position today for a nice profit. 

overall result- still down 25%.


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## >Apocalypto< (6 September 2007)

*Re: Trading CFD's*

What I have found with CFD's is they require excellent timing.

I also concentrate on 2 markets really getting to know them and learning there personal quirks.

I also watch about 8 other shares trade them only when they look plum.

I have lernt from my last 1 year and 11 months in the market that u must wait for trades to come to u, don't chase.

I keep my loses very small and I am never shy of switching from long to short or short to long if at first I am wrong. (mainly do that in FX)

CFD's in my opinion are good I really enjoy the leverage you can obtain and the fact that they are so flexible. often if i take on a ambitious trade i will put a very small parcel at it, that's a big plus. options and futures don't really have that luxury.

Learn what u trade start small build you way up, don't rush. Leveraged instruments need to be approached with care. 

good trading


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## kerosam (7 September 2007)

*Re: Trading CFD's*

another thing to bear in mind is the cost of opening & closing a position. my CFD provider is Mac Prime. The trading fee is ok but the GSL is a killer. And Mac Prime does not allow shorting MBL.


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## CFD (7 September 2007)

*Re: Trading CFD's*

Given the leverage involved, I think money management is very important.
There is a view the your risk (ie the difference between your entry price and stop price) should not exceed 1.5% to 2% of your cfd capital. Sure glad I learned this before I started!

I also wonder about the wisdom of having all trades in the same direction. Not wishing to trade against the trend but getting hit by a runaway train (DOW) is not much fun.


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## Trembling Hand (7 September 2007)

*Re: Trading CFD's*



CFD said:


> Given the leverage involved, I think money management is very important.
> There is a view the your risk (ie the difference between your entry price and stop price) should not exceed 1.5% to 2% of your cfd capital. Sure glad I learned this before I started!
> 
> I also wonder about the wisdom of having all trades in the same direction. Not wishing to trade against the trend but getting hit by a runaway train (DOW) is not much fun.




Yes that is very important. Even if you calculate your stop at Max 2% per trade but enter a lot of trades at the same time say 5 you have just exposed yourself to a 10% possible hit if not more.

I am guessing that a lot of newer traders have even larger stops with CFDs, 4% or 5% of the stock price which would equate to 1/2 the margin requirements. On 5 trades this could be a very large proportion of your account at risk.


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## It's Snake Pliskin (7 September 2007)

*Re: Trading CFD's*



Ken said:


> Just wondering who here has traded CFD's.
> 
> With any success/disasters?
> 
> ...




Go direct market access.


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## xtanda (16 September 2007)

*Re: Trading CFD's*

In my opinion, CFD is for smart people. It's the power of leverage that make people wealthier ! Ask Kiyosaki !

If you only have $5000, what can you do with ordinary sharetrading? Say buy 1000 of $5 share. Say in a month share go up 10c, you have $100? Probably eaten-up by brokerage already.

With CFD, same money, same trading give you $1000! (based on 10% provider margin) So, who chose $100 instead of $1000? Yes, of course if the share down 10c, you COULD BE down $1000 instead of down $100. 'Could' is the key because it depends on your trading strategy of managing risk. For example, using CFD trading with downside protection will give you all benefit of upside without any downside risk.

Also CFD is for beginner as well. I started my sharetrading 'adventure' firstly with CFD. GOOD EDUCATION is the key. When I purchased my $4000 - 3 days seminar about CFD trading, I don't know whether it worths it or not .. It worth every cents !! Never look back !

Just ask your prospectus CFD teacher if he/she can teach you how to do the above scenario, then he/she is already more than average.


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## mlennox (16 September 2007)

*Re: Trading CFD's*

You can definately make money trading CFDs, i've doubled my account twice in the last year but unfortuntely gave back all the profits during the correction in late february and the more recent correction in mid august..

The key is to hold as few positions overnight as possible during times of increased fear in the market... the biggest problem i've had is having too large of an exposure overnight and then the market takes a hit and you can't do anything but book a loss...


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## Trembling Hand (16 September 2007)

*Re: Trading CFD's*



xtanda said:


> In my opinion, CFD is for smart people. It's the power of leverage that make people wealthier ! Ask Kiyosaki !




No its not. Its hard work, good timing, smart money management and persistence. 
Leverage alone is what takes people out of the game quickly and makes them poor. 



xtanda said:


> For example, using CFD trading with downside protection will give you all benefit of upside without any downside risk.




No Down side??? please explain?


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## It's Snake Pliskin (16 September 2007)

*Re: Trading CFD's*

xtanda;202737


> In my opinion, CFD is for smart people. It's the power of leverage that make people wealthier ! Ask Kiyosaki !



Do you have his number?



> If you only have $5000, what can you do with ordinary sharetrading? Say buy 1000 of $5 share. Say in a month share go up 10c, you have $100? Probably eaten-up by brokerage already.



A lot actually.



> With CFD, same money, same trading give you $1000! (based on 10% provider margin) So, who chose $100 instead of $1000? Yes, of course if the share down 10c, you COULD BE down $1000 instead of down $100. 'Could' is the key because it depends on your trading strategy of managing risk. For example, using CFD trading with downside protection will give you all benefit of upside without any downside risk.



There is downside risk to everything, especially one's account which can be risked to the downside by BROKERAGE and interest which CFD's do have.



> Also CFD is for beginner as well. I started my sharetrading 'adventure' firstly with CFD. GOOD EDUCATION is the key. When I purchased my $4000 - 3 days seminar about CFD trading, I don't know whether it worths it or not .. It worth every cents !! Never look back !



An expert already And $4000 down already, who said there was no downside risk.



> Just ask your prospectus CFD teacher if he/she can teach you how to do the above scenario, then he/she is already more than average.



What scenario are you talking about? Rambling fool or naieve beginner? I don't think product diclosure statements cover that.

$4000 down. Ouch!

I have one short position running. The risk is to the UPSIDE.


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## It's Snake Pliskin (16 September 2007)

*Re: Trading CFD's*

Uncle Festivus



> To be blunt, CFD's are for lazy investors/traders hoping to make twice the money in half the time, but end up loosing most if not all their capital.



I think they attract a lot of fools who you may be referring to.



> There is only one genuine non gambling use for CFD's as far as I can see, that is to hedge against realising a capital gain on a share position.



Exactly. They are good hedging tools. 



> Unless you are very experienced with shares then save your money.



Prudent comments.


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## xtanda (18 September 2007)

*Re: Trading CFD's*

Buy 1000 CFD......
Buy 1 put option...   

no downside risk, all the benefit of CFD !


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## professor_frink (18 September 2007)

*Re: Trading CFD's*



xtanda said:


> Buy 1000 CFD......
> Buy 1 put option...
> 
> no downside risk, all the benefit of CFD !




......price goes nowhere after you buy, the put expires worthless and you owe interest on the cfd. 

No risk indeed!


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## xtanda (18 September 2007)

*Re: Trading CFD's*

Yes, Prof ! - that's my worst case scenario !
But I said "no downside risk" not "no risk at all" (sideways risk is the one)...

With this strategy using option, you look at medium term trading... say 2-3 months... 

Remember with CFD, (assuming 10% margin), you just need 5% expected movement (up or down depending long or short position) to get 50% profit.... 
hence if our selected stock doesn't move anywhere in 3 months.... bad luck... I would go back to Technical Analysis course....


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## professor_frink (18 September 2007)

*Re: Trading CFD's*



xtanda said:


> Yes, Prof ! - that's my worst case scenario !
> But I said "no downside risk" not "no risk at all" (sideways risk is the one)...
> 
> With this strategy using option, you look at medium term trading... say 2-3 months...
> ...




Before you go and try this, I'd strongly suggest that you work out exactly where you stand with this kind of position. Saying things like 'I only need to make 5% on the share to make 50% is only 1/3 of the equation. You need to work out how much your chosen put option will cost you, and how much you'll be paying in interest each day to hold the cfd position. You'll probably be quite surprised at how big of a move you need to the upside just to breakeven after a couple of months hold time.

Another thing you'll need to think about is that a put won't give you as much protection as you think it will- unless you buy a very deep in the money option, you won't get much in the way of delta at all.


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## wayneL (18 September 2007)

*Re: Trading CFD's*



xtanda said:


> Buy 1000 CFD......
> Buy 1 put option...
> 
> no downside risk, all the benefit of CFD !



Two trades when only one trade is needed... increases contest risk and capital needed to put on the trade and probably increases the cost of carry.

1000 x CFDs + 1 x put = 1 x call of the same strike as the put.

Remember there are synthetic relationships with options. Put plus stock (or CFD's) *is* a synthetic call option.


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## xtanda (19 September 2007)

*Re: Trading CFD's*

I agree fully with professor_frink !
There is a lot of nitty gritty (read: other checklist/criteria) need to be finalized befor entering particular trade... but the main purpose of my posting is to give idea that Trading CFD is not as risky as people thought if you equipped yourself with good knowledge.

There are substantial difference between call option only  vs cfd+put:
1. In the event of downturn, when using CFD+option you may 'rolldown' your put option. Option only: lost 100% of investment.
2. In the event of upturn, you can 'lock in' profit without closing your position ('roll up' your put option).
3. Possibility receiving dividend

Having said that, if you want to invest long term...say more than 1 year.. I would prefer call option only as the CFD interest will be substantial

Happy trading !


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## wayneL (19 September 2007)

*Re: Trading CFD's*



xtanda said:


> 1. In the event of downturn, when using CFD+option you may 'rolldown' your put option. Option only: lost 100% of investment.



You can roll the call option too. It will still be synthetically equivalent. The risk and reward will be identical.



xtanda said:


> 2. In the event of upturn, you can 'lock in' profit without closing your position ('roll up' your put option).



You can roll up the call option in the same way... again 100% synthetic equivalence.



xtanda said:


> 3. Possibility receiving dividend



Once again, once you involve options, the pricing in the option cum & ex dividend will account for the dividend... once again 100% synthetic equivalence.

Suggest some more study on options. Cottle has a good section on this.

Cheers


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## wayneL (19 September 2007)

*Re: Trading CFD's*



wayneL said:


> xtanda said:
> 
> 
> > 1. In the event of downturn, when using CFD+option you may 'rolldown' your put option. Option only: lost 100% of investment.
> ...




A quick lesson in synthetics.

1/ The risk and reward of a CFD + put, verses a call only (presuming same strike and expirey of course) is absolutely identical, excluding contest risk.

Charting the payoff diagram of each will demonstrate this irrevocably.

* You say you can roll down the put. ( Why you would want to do this is another discussion). This entails selling the put and simultaneously buying a put of a lower strike. What you have in fact done here is trade a bear put spread.

* If you own the call instead, you can roll down in identical fashion (synthetically). This entails selling the call and simultaneously buying a call of a lower strike. What you have in fact done here is trade a bear call spread, which is synthetically equivalent to a bear put spread.

So you see, whether you own CFD + put or a call. It requires the exact same trade (synthetically) to roll down.

The two positions are identical (bar contest risk, possible skews and margin/ capital employed considerations.)

 Cheers


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## kerosam (20 September 2007)

*Re: Trading CFD's*

excuse me for poking in... i opened a position RIO with Mac Prime yesterday... and like all CFDs transactions I make, I put a GSL on. The question is, how much should a GSL cost? I think this RIO trade will barely make it even due to the GSL cost.

maybe i should consider just stop loss instead? but then i would like to have a peace of mind when I open positions with CFDs.

Is there a CFD provider with very reasonable GSLs cost? sorry for sounding like a tight-ass.

thanks in advance.

sigh


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## It's Snake Pliskin (21 September 2007)

*Re: Trading CFD's*



kerosam said:


> excuse me for poking in... i opened a position RIO with Mac Prime yesterday... and like all CFDs transactions I make, I put a GSL on. The question is, how much should a GSL cost? I think this RIO trade will barely make it even due to the GSL cost.
> maybe i should consider just stop loss instead? but then i would like to have a peace of mind when I open positions with CFDs.
> 
> Is there a CFD provider with very reasonable GSLs cost? sorry for sounding like a tight-ass.
> ...




It depends on the account you have. 

Some GSL's are EXPENSIVE at least in my experience. 

Number of shares and the distance it is set at will determine the cost. 

On more probable trades I now incorporate my GSL into my risk amount, but not always, as it is something I would like to experiment with more. If there is sufficient probable reward I go for it. For example, I have a predetermined loss amount of, say $300. Then I determine entry and stop levels and get a quote from my provider, just click no if it is too much (my policy). For example $160 GSL is quoted. 
I then reduce the amount of shares until that $160 GSL is factored into the $300 TOTAL loss amount excluding costs.(it becomes part of the $300) If the PROBABLE traget is still enough it is a good trade to take. If it loses it isn't painful. $160 on top of $300 is like half a trade more of losing - account destroying. I tend to use straight stocks on longs so I don't waste money on GSL's and interest. I tend to use my GSL's for short longs or predominantly shorts.

*NOT ADVICE OK.*

The closer the stop the more expensive it is.

Cheers.


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## prawn_86 (10 November 2007)

*Re: Trading CFDs*

I too have just started out with CFDs, and in hindsight have probably been a bit agressive with my position sizes.

I am down overall on my CFD capital after 3 weeks, but one good thing is having such great leverage forces you to learn very quickly, otherwise thats it.


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## nathanhulls (12 December 2007)

*Re: Trading CFDs*

CFD's can be great, and they can also kill you as we have read from many posts already.

My own personal experience.

My very first trade:

The trade lasted 1minute and 24 seconds.
It was a short trade.
$250 investment
returned $4500

I think for some reason that gave me a false sense of success and security.

The end of the story is that I lost approx 50k of borrowed money after thinking this whole CFD thing was just so good I borrowed money on my dad's house and the rest is history (plus interest).

So like most its pick myself up out of the dust, dust myself off and now its time to get educated, build a trading system and recoup the losses plus some.

I still think CFDs are great, i just need to learn to read the markets, develop some more strict money management and risk management practices.

If there are any CFD traders out there that would love to help mentor a young guy I'd love to hear from you.

Regards
Nathan
- its more blessed to give than to receive!


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## Timmy (12 December 2007)

*Re: Trading CFDs*



nathanhulls said:


> CFD's can be great, and they can also kill you as we have read from many posts already.
> 
> My own personal experience.
> 
> ...




Nathan, there is an active thread at present here, someone developing a trading plan - it may be of interest to you in developing your own.


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## giasing (20 November 2009)

hi guys,

Please share some experience of trading CFD. i just started trading CFD a few days ago.

i have purchase my short position of NCM of average price at $A36.04 on Thursday and it closed at $A36.01. and today i didnt know why my short average price changed to $A36.01. and i lost 3 cent profits. 

Are there anyone know why i lost that 3 cent profits? please share some experience.

regards,


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## Ardyne (20 November 2009)

*Re: Trading CFD?*

I'd just ring them up. Sure you were looking at the sell price. maybe it was a 3 cent spread ?


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## plankton (21 November 2009)

*Re: Trading CFD?*

your position was probably marked to market. Your 3 cents added to your net value and the previous close the base for the new day.


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## skyQuake (21 November 2009)

*Re: Trading CFD?*

Bid/Ask spread probably.
Or possibly slippage when it moved. NCM has a bit of a spread on the actual market too and it fluctuates a few cents easily/


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## giasing (21 November 2009)

No, it is not. it is the DMA so 1:1 spread


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## Wysiwyg (21 November 2009)

> i have purchase my short position of NCM of average price at $A36.04 on Thursday and it closed at $A36.01.



So the last traded price was $36.01. Agreed.







> and today i didnt know why my short average price changed to $A36.01.



What does that mean? The price that you opened the trades does not change. Check you transaction records to confirm the opening trades price average was $36.04. and then prove this by posting a screen shot on this thread. Otherwise we don't know if you're confused or something other.


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## Wysiwyg (21 November 2009)

better still what were the trade prices and number of shares for each parcel?


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## Wysiwyg (21 November 2009)

Wysiwyg said:


> Better still what were the trade prices and number of shares for each parcel?



 Lol. Question must have been a bit too much for the poor dude or he now knows he got the average price/share wrong.


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## skc (21 November 2009)

Just mark to market on daily close. MF Global does this and is quite annoying. You have to refer back to your own record to quickly see what your true entry price was.

Good luck with that short on NCM by the way. Clearly you are not a trend follower!


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## giasing (21 November 2009)

yes, thanks i will have a look the record they send my on Monday next week.


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