Australian (ASX) Stock Market Forum

CFD Diary

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Gday RoN. Personally I dont use the 40 day SMA, but this does not mean that it is not a valid indicator. I tend to look at the lesser 15 day EMA for picking short term trends in a stock. Ie, if its trending up, the short term trend of the stock is generally up and vice versa. I find this EMA an excellent indicator to place stop losses, below or above. Personally I think the perfect time to have entered (FGL) was yesterday when it bounced off its short term trendline. Today was fine though because the stock trended up strongly all day, a clear intra day buy signal. It may have some resistance at around $6.70 being close to the 50% fibonacci level from the February downward movement.

I have set my stop at $6.40 below the uptrend line. Also there is a bit of positive divergence in the RSI with the corresponding April and May lows another positive signal. Remember RoN, dont worry about overanalysing stocks, because the entry is only a small part of the trade. It is how you manage it that will make you money. So use whatever indicators you feel works and mix and match and go with the stocks that feel right from the charts. Cheers, Lachie :)
 
I see your point.
I did my third CFD trade on friday. Jumped into (QBE). I am still trying to get it right, maybee getting too cautious. I did pick QBE the way u recomended.. by quick eyeballing asx100.
 
Gday Moxy. Yes the (LEI) trade went well but just remember there are losing trades as well, all part of the fun. Just a quick note, because out of Melbourne till Wednesday. Only in 4 positions now. Long (BXB), (WOW) and short (TEL), (CSR). Not going to enter anything new till WED/THU. Cheers.
 
hi lachlan6, was wondering do you use a pecentage or a set difference from the 15 ema above or below for your stop losses? which way for long or short? and does this differ for different price ranges. eg $0-$0.10, $0.10-$1.00 etc. thanks your imput is valued.
 
Howdy CFDer's,
Anybody interested in online chatting about CFD trades during trading hours?
There seems to be a growing interest here for CFD's and methods of trading them. If anybody is interested, I'm looking at using Yahoo Messenger, or if anybody has a better suggestion then let me know.
UF
 
Uncle Festivus said:
Howdy CFDer's,
Anybody interested in online chatting about CFD trades during trading hours?
There seems to be a growing interest here for CFD's and methods of trading them. If anybody is interested, I'm looking at using Yahoo Messenger, or if anybody has a better suggestion then let me know.
UF
Click to expand...

Here's a suggestion UF- ASF has a chat facility set up for just these types of things:)
 
professor_frink said:
Here's a suggestion UF- ASF has a chat facility set up for just these types of things:)
Click to expand...

Yep tried it - pretty buggy software, sometimes works. Looking for a more advanced chat/conference app with ability to post charts & comment in real time while day trading sort of thing.
 
Gday all. Looking at few positions today. Possible short (SIP), (JHX), (TTS) and long in (CCL), (UGL). Still have short position in (TEL).
 
hi,

uncle festivus and i are using yahoo instant messanger to chat during trading.. its pretty good. PM us if you want to join in.
 
Gday AJ. How does the messenger work. I am currently on MSN Messenger can u use it interchangeably?
 
Lachlan6 said:
Gday AJ. How does the messenger work. I am currently on MSN Messenger can u use it interchangeably?
Click to expand...

yes you can.. your hotmail email id will be able to chat up with Yahoo messenger, may not be able to use all the features but regular text chat will work fine.
 
I took a few trades today on the back of a weaker market. Went long (CCL) at $9.81, only a cent off the high, hopefully it doesnt turn out like the (SGP) trade which I entered prematurely. Also went short (TTS), it has broken short term support and may start trending down. Went also short (WAN) after a little bit of hesitation (In such a strong overall market too many short positions can be difficult to trade), at $15.77. It closed the day in the money slightly.

Exited my short (TEL) trade at $4.29 for a small loss. The market may just be pausing for a fresh run higher, next week will help clarify this a little, or it may be toppy. Anyway not here to predict, just to trade the trends.
 
Gday Vert. Yes I do trail my stop differently for different priced stocks. Smaller priced range stocks require a little more to move around so that you dont exit early etc. For example a stock worth $19 will have a railed stop different to one worth $3. Anyway its best to just work out a good trailing stop loss strategy and work around these differences.
 
happy to join in this chat.
I use CMC atm.have entered BLD @ 904 with sl @ 896.also running with MAP this am in at 409 sl @ 399.
know lot of flack re MM.as compared to DMA. but also run with sanford to check prices etc. have not had major prob with CMC re market price etc so far.started with them when "deal for free"
 
Still short (WAN) and (TTS). Watching both carefully but still valid trades. Market just consolidating atm in very tight range. Just entered (LLC) long, monitoring (UGL), (SGB) and (SUN).
 
Just took the one trade today, going long (LLC) at $19.89. It had a big bounce off resiistance turned support from the February highs, and seems poised to travel higher. Still short (WAN) and (TTS). Liked the late inaction in (WAN) today despite a very strong market, signalling possibly further weakness. (TTS) on the other hand will be watched carefully tommorow as my initial stop is $5.03.

Was close to going long (SGB) today but needed to break $37.50 convincingly for me to enter. Was also considering (ABS) but the lack of buyer depth at the time turned me off. Market still within a short term consolidation range, a breakout either way will either signal a resumption upwards or a fall back.
 
Down day today was good for my shorts. (TTS) and (WAN) came back with the market. I have trailed my stop on (WAN) now to $15.69. No new trades today, was out for most of day. Contemplated going long (QAN) with a tight stop and even (AMC) long, but decided against it.

(LLC) came back also but because of my good entry yesterday, still a very valid trade. It closed around the halfway point of yesterdays bullish candle, so still positive. Have to watch (CCL) closely tommorow as may hit initial stop of $9.50.
 
Hey, i'm still currently learning my CFD trades, just wondering when i start, could i join you guys. I'm still a newbie in learning =)

Thanks
 
Welcome born2win

How are your CFD trades going.
What are your entry parameters and which stocks are you looking at.

Moving averages 4 and 8 will get you in and out of short term trades accompanied with volume. You are aware of trading trends I hope, even seasoned CFD traders sometimes break the rukes on that one.

Best Trading
dline
 
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