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Author Topic: Mr Div's CFD diary :: How to loose R25K in a few easy steps  (Read 163833 times)

jaDEB

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #135 on: January 20, 2016, 10:10:01 am »
10 minutes or so after market drop, I longed the following

ACL
NPN
LON
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Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #136 on: January 20, 2016, 10:38:03 am »
Long on Lon? Not a fan of the saying "the trend is your friend" are you?  ;D

Have a short on anglo and a long on intu - both small. Might add to anglo and try ride down from R54 - R53
« Last Edit: January 20, 2016, 10:39:57 am by Mr_Dividend »
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Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #137 on: January 20, 2016, 02:35:26 pm »
Hmm, just got excited and spotted a descending wedge, placed sell and buy orders above and below. was surprised to see the above (buy) order triggered. Have set stops - but thinking about it I did this of the 5min chart! oops. it does show up in the 15Min - so will let is see where it goes...got in at 11400 @ 14H15


15H26 sold half at 11500, to bank profits and the trade was a bit big
« Last Edit: January 20, 2016, 03:27:12 pm by Mr_Dividend »
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Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #138 on: January 21, 2016, 06:08:10 am »
DAY 22 R4345.57 R101.25

Have help two position overnight - a long on OML and on INTU. Was very happy to find the descending wedge and then for it to work - even if only slightly, did not really exit very well from it. At the moment I seem to be more interested in having positive days than i am about the amount. I have this idea that if I can build constant profit for 3 month or so, I could just increase everything by 10 without a sweat. Show me the money!  ;)

My other accounts, like everyone's, look pretty bad - if it wasn't for my capitec profits on the main one I think it would now be in the red. Now, of course, would be a good time to tweek it if needed. But overall I like it and it's doing it's job so will let sleeping dogs lie.

Random thought. Why hasn't the world language experts come up with a "world second language" - basically, make up an extremely easy to learn language that takes the best out of all languages. Everyone then learns this as their second language and boom - everyone can now talk to everyone else. I got onto this realizing that all deaf people around the world can communicate with each other using international sign language. I do not think it would be hard ether. Make the language then give it a certain amount of time, like 2 -3 years, and say it will be the defacto language at the UN - you cannot speak it, you cannot participate. From there it would just filter down.

At the moment, while watching tennis, am in a short brent sea oil, looks like it broke through resistance on a head and shoulders. Gives me something to do.
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TheKwok

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #139 on: January 21, 2016, 08:29:03 am »
Your universal language is a good idea in theory but not so easy to implement in practice...
https://en.wikipedia.org/wiki/Esperanto
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Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #140 on: January 21, 2016, 09:23:33 am »
Quote from: TheKwok on January 21, 2016, 08:29:03 am
Your univer
sal language is a good idea in theory but not so easy to implement in practice...
https://en.wikipedia.org/wiki/Esperanto

Very interesting, cheers. Ja, would need to be "forced" on a high level multi cultural organization - I said the UN, I see at the time they were hoping the League of Nations would pick it up.

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TheKwok

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #141 on: January 21, 2016, 02:07:23 pm »
I guess the problem is that language and culture are tightly linked.... and besides there is not a language in the world which has an equivalent word for lekker :-P
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Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #142 on: January 22, 2016, 06:25:50 am »
DAY 23 R3982.69 R-362.88

Struggled with lots of smaller trades including the two I had overnight. I found the one that I just "let run" all hit their stops and the only trade that I was making money was on scalping Anglo. Did I good job from 12 or so running up to a peak, the selling down to a trough and reversing. Then came the end of the day. I am in two minds about where I am now sitting, with 500 shares, short. I know I have risked too much and it's really bad risk management. But am quietly confident it will retract looking at the last few weeks. If it doesn't there is a good chance I will say goodbye to about 1/4 of my account - way too much to be risking. This my "betting" side I need to keep a lid on.

Anyway, as is I am still slightly up on the week - so in percentage terms, my best performing account! - but was hoping for green everyday - and did give it some thought when I was R200 up, probably R100 after fees. But this felt right...which probably means I am going to see my ass  :frustrated:

i am open to using more predictable instruments and am playing with FX cfd's at the moment. TBO I do not have enough margin to buy even one brent oil contract but have enough for two AUD/UD contracts! Keeps me busy while watching tennis.

08H50 - I am pretty sure the phrase "tata ma chance, tata ma million" is not what a good trader would be thinking before opening bell... :(

did I say 1/4? I meant 1/2  ???


« Last Edit: January 22, 2016, 09:12:43 am by Mr_Dividend »
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gcr

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #143 on: January 22, 2016, 09:59:32 am »
Mr-Dividend - just a question really.
Do you regularly look at the London Stock Exchange and the Dow to see their direction? Also it is worthwhile looking at the Tokyo stock exchange.

What I am suggesting is that you take a helicopter view of these exchanges and then make your decision regarding going long or short on the JSE - may just help
There used to be an excellent site page 88 which was frequented by traders sitting in different parts of the world who used to comment on the likely direction of world markets and all of the contributors where traders either working for financial institutions, companies, or for themselves. Even they got it wrong sometimes, but the essence was that they read the market
Pity they are no longer in existence with many having moved sites
Just my thoughts - may help in limiting your losses
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Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #144 on: January 22, 2016, 10:44:59 am »
Yes gcr, it was something I had put on my todo list -  a spread sheet comparing the varies indices to how the ALSI acts during the day.

ah well, live and learn hey ?



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jaDEB

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #145 on: January 22, 2016, 10:50:46 am »
also ,

  S&P 500 Futures 1,950.75 +17.75 +0.92%   
  Nasdaq Futures 4,333.75 +44.50 +1.04%
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Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #146 on: January 22, 2016, 11:18:01 am »
BTW jadeb - my stop was blow through - was set at 5745 but only got filled @ 5957 R2 x 500 - that's R1000 bucks right there. I do not blame GT for that though - that's just the way it works sometimes - it's not a guaranteed stop.
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Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #147 on: January 25, 2016, 06:34:28 am »
Day 24 R1358.99 R-2623.7  ???

Well. another expensive lesson! On the bright side, at least I knew I was taking a chance this time and felt very uncomfortable - hell, maybe next time I won't actually get myself in to the situation in the first place. Shockingly bad risk management. But the weekend gave me a good chance to think and reevaluate just what I am doing and what I want to achieve.

One identified problem has been lack of a trading plan. So for the first time, spent a few hours running over a very simple plan that works on paper - have done a bit of testing and it seems to work even after including commission and some slippage - but slippage and timing will be the problem.

My wife and myself are have also had a chat over our future plans and we are in agreement that we want to do some serious traveling for a few years in 5 years time as well as leave SA - nether of us being very optimistic about it's future. Anyway, the plan can work in a few different ways, but it would work best if we can earn while on the road -  (sorry, earn while sitting at our balcony looking over the South China Sea sipping a Chai Latt,   :D)  - luckily enough, many of the counties we want to visit do not require a visa for Saffers - so that's handy.

Monday:: Anglo 5180 - so, IF I had hung in, instead of loosing around R2500, would have made around R1000 if I waited a couple of days. A lot of this is about position sizing.
« Last Edit: January 25, 2016, 11:29:11 am by Mr_Dividend »
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Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #148 on: January 26, 2016, 06:33:34 am »
DAY 25 R1435.63 R76.64

Basically, will probably have not much to say for a while. Will be sticking to this plan for a couple of weeks and seeing if it works and how it could be improved. I expect trades to take days or weeks to complete. Good thing is I have to wait for actual triggers before entering and exiting a trade - so no more taking "educated" guesses.
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Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #149 on: January 27, 2016, 05:07:58 am »
DAY 26 R1330.17 R-105.46

Getting tired of watching winning trades turn into loosing trades. Have given some thought into not only how I size my positions but also how I set my limits and stops.
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