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Author Topic: Mr Div's CFD diary :: How to loose R25K in a few easy steps  (Read 163988 times)

Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #75 on: January 07, 2016, 04:22:59 pm »
Hard to say- was doing very well until about an hour ago... ??? But I think the general consensus the more volatile the market, the better - you just better pick correctly which way it's going to move.
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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 #76 on: January 07, 2016, 06:40:05 pm »
What a @#$%$# day. >:(

Did very well in the morning, followed the trends well - just stuck on the DAX - was up over R1000. Afternoon session - not so good.  :wall:

On the bright side there will still be a little bit in there to play with tomorrow - but not much.

I guess, on hindsight - my "system" was working - money was coming in fairly easily. When I was up R500, trends that went against me where fairly easy to absorb - but a massive spike the wrong way had me "doubling down" instead of taking a step back and reevaluating the situation.

Damn - was really looking forward to hitting the R5k mark - I doubt I'll have half that.

Live and learn, eh?  :(
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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 #77 on: January 08, 2016, 05:06:46 am »
DAY13 R2383.84 -R1336.22

So printed out and relooked at want went wrong yesterday.

Firstly, the good.

I did see over a thousand gain at one time - but, was using ALL my margin - so was playing with fire. Big risk, big reward, big losses.
Did a very nice sasol trade that went perfectly according to plan - shorted then bought of a resistance level.
I was almost expect the my first account to be "blown" - bright side Is I get to live for another day
Buying/ selling in small increments did work on the scalping side.


The bad.
I was shorting an up trend.
Did not have a pre conceived stop loss - had I pulled out fairly early, I might have been able to travel the wave upwards and replace my losses
I did not know when the DAX (CFD) closes - so it was still running @ 20H15 last night - at that it had finally come down to my buy in area so could have exited with minimum losses had I waited - I did not want to be stuck with such a large position over night.
The first big move up really took me by surprise. Although I cannot be ready for them, I really need to plan for them.

The plan
I need to set stops and limit when entering a trade. Bit hard while scalping - work it of the profit loss column on a percentage basis?
I need to devise an IRON clad rule on how much I can risk per instrument - maybe 1/4 of margin at the moment.
Need to really FOLLOW the overall trend. I am getting caught out looking for reversals
Need to look for more swing type trades.
« Last Edit: January 08, 2016, 05:44:24 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 #78 on: January 09, 2016, 06:50:54 am »
DAX smacked me again yesterday - will on fill in figures once I open on Monday and have some open positions - but lost around R500. Did go small, but it was death of a thousand paper cuts - just could not get into the grove. But I really should probably not be trying to scalp an index so volatile as the DAX, TBO - it's just so exciting...  :D

have shorts out on Sasol and a long on CML. I now print out a graph, draw my trends and channels and then take my position. See If I can get the last R2000 to last next week!

BTW, the money does not bother me too much, it would not surprise me I do loose a good R20K or so. As long as by the end I have learn't a truck load and am  seeing a marked improvement in my trading. This is just school fees. I know I could be using a demo account - but I really do take things more seriously when my money is in it, no mater how small the amount.

But going to change tack for next week. Basically looking at graphs one by one, picking the most likely and trading one by one. As to the weekend, planning to get a few hours studying here: http://stockcharts.com/school/doku.php?id=chart_school
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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 #79 on: January 11, 2016, 05:10:44 am »
Day 14 R1817.14 - R566.70

New week, new plan!

Knowledge has increased a lot since I first begun - still only scratched the surface. At the start, I did not even know what questions to ask, now I am starting to know what questions to ask as well as finding some of the answers.

I do not expect to do many trades this week -the idea is to stop looking at the 1 minute and only use the 5 minute for entering and exiting if at all. Looking for channels, reversals and trends confirmed through price action but will also use the RSI. Want to set stops and limits as i enter a trade.

And I really need to watch and stick to stops AND let them run to the limits even if I part sell to bank profits. No quick one click orders - all buying and selling through the order form with thought out entry points.

BTW a nice site that lists events that could effect the global market ( think global SENS)  :) http://www.forexfactory.com/calendar.php you can change the time at the top without having to make an account.
« Last Edit: January 11, 2016, 06:10:08 am by Mr_Dividend »
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Fawkes85

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #80 on: January 12, 2016, 06:04:43 am »
Mr_Div sorry to bother you with this. But once you closed the EQ Trader window how do you open it up again? I thought after it was installed there will be a shortcut on my desktop but there is nothing. So I went to GT247 website and logged in but I don't see anything there for reopening the trading platform window?
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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 #81 on: January 12, 2016, 06:48:04 am »
Had me stumped for a bit to - go read the instructions again - you actually need to go into java and then make a short cut.
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Fawkes85

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #82 on: January 12, 2016, 07:37:13 am »
I'm such a dumb ass. I remember reading one of your earliest posts about this. Thanx. Got it set up.
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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 #83 on: January 12, 2016, 07:54:59 am »
This is the reply I got from GT247, after trying to join and set up, no, ok we will help you. They can go F T S.

Good Day Mr X,

 

Please note that your account was deactivated and that is the reason why you are unable to login.

 

Regards

 

Londiwe Mbatha
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jaDEB

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Fawkes85

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #84 on: January 12, 2016, 08:15:25 am »
Yeah. I have to say if you want real help from them you need to phone. Their email customer service sucks. Wrote to them last week enquiring about something and the very Londiwe Mbatha replied to me with a very generic response that did not answer a single question I asked. Want help. Call. Don't write to them.
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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 #85 on: January 12, 2016, 09:06:17 am »
DAY 15 R1669.96 -R147.18

Will carry on doing the same - being a bit more selective in my trades. Lost 3 out of 4 yesterday - 3 where carried over.
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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 #86 on: January 12, 2016, 10:15:20 am »
Right - entered long into EOH @ 12468 with a stop at 2 x AVT (11282) take profit @ 4 x AVT (14840) Due to clear Hammer with confirmation, Low RSI (36 on daily) and good FA news today. Think trade feels right - so will hang on and hope it works depending on time frame, might only sell out half at target.
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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 #87 on: January 12, 2016, 10:24:56 am »
I fink EOH is a good call.
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jaDEB

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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 #88 on: January 13, 2016, 08:47:08 am »
Day 16 R1771.19 R101.23

Well, broke a three day loosing streak, so that's good. Will be holding on to the EOH position for a while (few weeks I am guessing) so might top up the account with a couple of thousand. R100 was made up of the long on EOH and a short on Grindrod I had for a couple of days and it hit it's limit. Will be looking for another couple of swing trades.

Jadeb - the only other options for CFD's seem to be quite pricey, IG has a R100 minimum not sure about PSG and Std, but I am guessing the same - the 0.1% no min cost's on GT247 makes it (on my budget) a no brainer. Just open a new demo with a different email.
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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 #89 on: January 13, 2016, 09:10:40 am »
Thanks, I will have a look. but GT247 can stick it where the sun does not shine, next to LON. After 3 mails still unhelpful. I need to look at 1 where I can use on my tablet for trading.
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jaDEB

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