Australian (ASX) Stock Market Forum

Losing CFD long position

Re: XAO Banter Thread

Yeah I'm so ridiculous, stupid and naive that I can't possibly be real. I'm feeling just great now.
 
Re: XAO Banter Thread

Yeah I'm so ridiculous, stupid and naive that I can't possibly be real. I'm feeling just great now.

If that's true, then that must surely mean that you are UNREAL!

For what it's worth, sometimes online communities have difficulty discerning genuine newcomers from those with hidden agendas.

I currently consider you to be genuine( but I could be mistaken - time usually tells).

Either way, I do hope you stay around, as I am enjoying your input.

In light of your recent experience, have you made any amendments to your cfd trading strategy?
 
Re: XAO Banter Thread

Yeah I'm so ridiculous, stupid and naive that I can't possibly be real. I'm feeling just great now.

Lesson 1.
It feels like **** When you have no idea what you are doing and then when you do.

[video=dailymotion;x155k8e]http://www.dailymotion.com/video/x155k8e_bob-dylan-house-of-the-risin-sun-1962-digitally-remastered_music[/video]
 
Re: XAO Banter Thread

Cheers Cynic,

I'm not too sure I'll post here for a while, it's really taken a toll on my confidence. I thought I'd get a couple of laughs at my silly mistake and a few tips along the way, I didn't realise this was a place where you don't talk about your losses. If you do you are branded as someone so pathetic that you must be a troll.

Or maybe it's just a test to see how strong I am? Helping me get prepared for harsh realities of trading... I wish that were true, but I guess there will always be bullies, especially online.

I made a good profit in 7 weeks with no experience, I started small & kept winning. I got over confident and made 1 big mistake.
How is that is 'unbelievable' ?
What contradictions?
 
Re: XAO Banter Thread

Kelly, if you're serious about learning, then ASF is a great place to keep coming back to for advice, direction and options on your journey. It could be worth starting your own thread in the Derivatives or Beginner's areas. As already mentioned here, don't just set aside $50k - expect to put in a few years at least to regularly break or even think about profitability and leverage. If you feel clueless right now then get started figuring out the questions you need answers to.

Welcome to ASF by the way - and hope you exit in the black on your CFD trade :xyxthumbs
 
Re: XAO Banter Thread

Or maybe it's just a test to see how strong I am? Helping me get prepared for harsh realities of trading

YES!

You have just noticed something about the market, not us!!!
We are just hearing you say, 'My what big teeth you have grandma.'
 
Re: XAO Banter Thread

Cheers Cynic,

I'm not too sure I'll post here for a while, it's really taken a toll on my confidence. I thought I'd get a couple of laughs at my silly mistake and a few tips along the way, I didn't realise this was a place where you don't talk about your losses. If you do you are branded as someone so pathetic that you must be a troll.

Or maybe it's just a test to see how strong I am? Helping me get prepared for harsh realities of trading... I wish that were true, but I guess there will always be bullies, especially online.

I made a good profit in 7 weeks with no experience, I started small & kept winning. I got over confident and made 1 big mistake.
How is that is 'unbelievable' ?
What contradictions?

I am personally acquainted with a few people who had similar experiences to yourself during their early explorations into leveraged derivatives (forex/spread bets/cfds). Hence my reason for perceiving your situation as quite credible.

It usually takes years, rather than months, to be served anything more than a small sampling of the wide variety of pitfalls that the market so readily offers.

So be prepared to find yourself unprepared!
 
Re: XAO Banter Thread

Cheers Cynic,

I'm not too sure I'll post here for a while, it's really taken a toll on my confidence. I thought I'd get a couple of laughs at my silly mistake and a few tips along the way, I didn't realise this was a place where you don't talk about your losses. If you do you are branded as someone so pathetic that you must be a troll.

Or maybe it's just a test to see how strong I am? Helping me get prepared for harsh realities of trading... I wish that were true, but I guess there will always be bullies, especially online.

I made a good profit in 7 weeks with no experience, I started small & kept winning. I got over confident and made 1 big mistake.
How is that is 'unbelievable' ?
What contradictions?

Welcome Kelly....do not feel too bad, as a newbie to the forum most always get an introduction like this....including me.
Everyone is trying to work out if you are legit, it is just the way it is.

Their are many knowledgeable members here who have a lot of experience in both types of analysis...Fundies and Techies so you can learn a great deal.

Congratulations on your past success however in my opinion without proper understanding of the markets longer term it will be difficult to stay profitable....Markets are constantly changing and what may have worked for you before may not work for you in the future.

You need many tools in your toolbox to stay ahead of the game.

You will need to work out what type of investor you wish to be and then work out the strategy that will get you their.

As in your previous posts you look like trading is what you wish to pursue at present then you really need to have your risk management sorted out..you said previously that you were willing to lose $10k this is were you had your stop then for some reason you took stop out and you have now suffered greater losses, unfortunately trading like this you will not survive it is the harsh reality of trading..

My advice would be that everytime you take a trade work out what the upside is likely to be and also what the downside risk is and stick to it...once you set your stop never ever ever ever and ever remove it just because it has gone against you on this occasion...just cut your losses and regroup again analyse what went wrong with the trade before you place another one to see if it was a mistake on your part or it was due to some unforeseen event.

Being a newbie I would ensure I could trade profitable for 1-2 years first before even using leveraged instruments such as CFDs as you have mentioned.....best of luck and happy investing...it is a long road..

Cheers
Triathlete :)
 
Re: XAO Banter Thread

Trading requires one to see through the BS, and I'm simply exercising my discretion and a bit of intuition.

Do I feel bad about doubting someone? Absolutely not - couldn't care less. I've placed my bets, and I'm happy with them.

He plays a good game, whoever he is. Maybe time for a new hobby?
 
Re: XAO Banter Thread

Trading requires one to see through the BS, and I'm simply exercising my discretion and a bit of intuition.

Do I feel bad about doubting someone? Absolutely not - couldn't care less. I've placed my bets, and I'm happy with them.

He plays a good game, whoever he is. Maybe time for a new hobby?

You are just stirring now, no one is that paranoid.
Yeah I'm a spy trying to steal your amazing trading secrets!

This is for you and the other bullies...
IMG_20160914_114555-1.jpg
IMG_20160914_113621-1.jpg
 
Re: XAO Banter Thread

Like I said, I've placed my bets and I'm happy with them. You are free to put me on ignore if I offend you. There's an ignore button somewhere.
 
Re: XAO Banter Thread

Like I said, I've placed my bets and I'm happy with them. You are free to put me on ignore if I offend you. There's an ignore button somewhere.

Think everyone has been cordial.
Don't see any bullying by you or anyone else.
 
Re: XAO Banter Thread

You are just stirring now, no one is that paranoid.
Yeah I'm a spy trying to steal your amazing trading secrets!

This is for you and the other bullies...
View attachment 68068
View attachment 68069

Love it!!

BTW Gringott's Bank has a habit to psycho-analyse anyone who posts... You could post a comma and he will try to predict that you are 23 year, Central European with an unhappy marriage, most likely blonde and have a strong desire to be successful due to some childhood issue.

And he's most usually wrong, just like his trading :D
 
Re: XAO Banter Thread

Love it!!
You could post a comma and he will try to predict that you are 23 year, Central European with an unhappy marriage,

Definitely unhappy if married at 23.
You have lovely ring-less fingers, however.
Any chance of a date?
I only drink cordial.
So no chance of bullying. ;)
I could give you some trading tips and you could push my mobility chair.



Hey, I'm a good listener. Buy is 2 dings, sell is 1. :D
 
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Re: XAO Banter Thread

Leverage is a tool which is unwise for anyone without a proven profitable system, either fundamental or technical, to be using in my opinion.

It's a bit like speed in a car. It amplifies the effects of what you do be that profitable or unprofitable. However much you'd profit or lose on a trade, adding leverage increases that relative to your capital base. Great if you're profitable but potentially a disaster if you're not.

You wouldn't put someone behind the wheel of a car for the first time and have them driving at 200 km/h. Well, hopefully you wouldn't as it's a recipe for disaster if (when) they make a mistake. No, you teach them to drive at far slower speeds starting on quiet streets and build up from there.

Same concept with investing and trading. Start small, no leverage, and always remember that the market WILL be there tomorrow. It's better to miss out on a few profits than to wipe yourself out with huge losses and put yourself out of the game. Just like it's better to learn to drive at 40 km/h and cause no real harm rather than learning to drive on a race track and ending up dead. Same with anything, start small and build up from there.

Just my opinion based on personal experience.:2twocents
 
Re: XAO Banter Thread

Leverage is a tool which is unwise for anyone without a proven profitable system, either fundamental or technical, to be using in my opinion.

You are completely correct, and I know that now!
It's dodgy how CFD's are marketed as something for beginners with no experience.
 
Re: XAO Banter Thread

You are completely correct, and I know that now!
It's dodgy how CFD's are marketed as something for beginners with no experience.

Leverage is fine provided you know how to diminish risk.
 
Re: XAO Banter Thread

Leverage is fine provided you know how to diminish risk.

Quite true. The problem is that newcomers, by definition, are unlikely to have gained that level of experience.

Ofttimes the marketers, themselves, have minimal understanding of the products they actively promote.
 
Re: XAO Banter Thread

Leverage is fine provided you know how to diminish risk.

Agreed with your statement but in the context of a beginner I'd say that the chance is fairly high that they'll make a serious % loss at some point.

Same with anything really. Beginners make mistakes and keeping the money, speed, voltage, or whatever down will limit the damage when it goes wrong. Just my opinion. :2twocents
 
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