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Author Topic: Mr Div's CFD diary :: How to loose R25K in a few easy steps  (Read 163998 times)

Mr_Dividend

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Mr Div's CFD diary :: How to loose R25K in a few easy steps
« on: December 20, 2015, 02:48:15 pm »
Day 1 :: R-200

** Please Note ** You would be crazy to act on any "advice" given by me, or anyone else on this thread. I am a totally beginner and my knowledge of sharing trading could be written on the back of a match box. I am not that good at investing ether.

A week or so ago I started looking into trading CFD's - basically wanted to get involved in shorts when a certain idiot decided to fire another person. So looked into it and decided to give it a go. Had some success on GT247's demo account - so opened a live account with a tiny amount (R4000) and lost R200 the first day, Friday  :D

I am sure I will be loosing a lot more in the near future, but also plan to learn from my (I am sure frequent!) mistakes. Anyway, I thought some on here might be interested in trading and would enjoy having a giggle at my expense  :(

I have another R20K or so earmarked for this, will put it in slowly over 6 months, I am hoping after 6 months I will start to show some sort of improvement.  That said, I am really enjoying this, might have actually found the paying hobby I have been looking for. Day one, lost R80 on trades and spent R120 on fees - need to be a bit more patient.

Will see what direction the markets move tomorrow but if up, will be looking to go long on CML and possibly Sasol

actually negative on Sasol - checked the RSI
« Last Edit: December 20, 2015, 03:16:00 pm by Mr_Dividend »
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Orca

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #1 on: December 20, 2015, 08:52:46 pm »
This is not for a novice. You have to have strict discipline in place. A demo has no emotional aspects to it and would look good but real money is a totally different story.
You have to know charting and where to place your take profit and where to place your stop losses. Then stick to it. Then stick to it again. Never deviate from your plan even if the stock seems to have room to go higher. This was my downfall as I always thought it would go higher.
Good luck.
By the way, RES seems like a good punt if the market allows tomorrow.
 
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I started here with nothing and still have most of it left.

Nivek

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #2 on: December 20, 2015, 09:12:52 pm »
Following. Is it going to be like that car accident you just can't look away from, or will it be lifestyles of the rich and famous :)
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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 #3 on: December 21, 2015, 04:53:36 am »
Quote
By the way, RES seems like a good punt if the market allows tomorrow

Cheers - will take a look. Did scan Growthpoint and Redefine - nether of them fitted. Those two (I think) are the most traded property counters, but will add RES as it's more a growth play and should be traded in significant enough numbers.

Only learn't about the RSI yesterday - wow, what an interesting indicator. Suggest anybody with an interest in shares learn about it on youtube - takes 10 minutes.

Plan is to be at my desk at around 08H00 and scan for trades to be ready for the 09H00 kick off - then just trade for an hour to 2 hours. Haven't decided if I should day trader or swing trader - kinda like the idea of closing all trades by the end of the day as I would have though it cut's down on risk. That said, it doesn't take a genius to see that to get a very nice return, you sometimes need to let the share run/ or tank, on a few days - and entering and exiting will cost quite a bit more in fees.

Nivek - I have dreams. Big dreams.


(but would be happy with just making a R100 profit this week) :)
« Last Edit: December 21, 2015, 04:57:01 am by Mr_Dividend »
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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 #4 on: December 21, 2015, 08:05:20 am »
 :TU:

Just keep it up...
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jaDEB

If it scares you, it's a sign you need to do it

Patrick

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #5 on: December 21, 2015, 08:35:27 am »
This is something I've always wandered about but never had the apples to try. It will be interesting to see how a relative beginner progresses. Good thread.
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czc

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #6 on: December 21, 2015, 09:06:10 am »
Interesting.

So is this what I keep hearing about with gearing and shorting and all those buzz words?
« Last Edit: December 21, 2015, 09:09:19 am by czc »
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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 #7 on: December 21, 2015, 09:06:27 am »
Order in for 200 CML <5100 and 500 ACL (pure RSI play) @ <300

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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 #8 on: December 21, 2015, 09:21:02 am »
Quote from: czc on December 21, 2015, 09:06:10 am
Interesting.

So is this what I keep hearing about with gearing and shorting and all those buzz words?

Pretty much - basically, depending on share, you only put down a portion of the value. So bought my cml (margin) for around R2000, but "worth" R10,000 - and I keep the whole movement on the share (good OR bad) - so can be dangerous.

ACL said I must phone - so scrapped that deal

went with Arrowhead - been hit hard lately for no real reason beside they joining A's and B's - tiny order, just 250 - but practicing placing orders.



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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 #9 on: December 21, 2015, 09:35:08 am »
Quote from: Mr_Dividend on December 21, 2015, 09:06:27 am
Order in for 200 CML <5100 and 500 ACL (pure RSI play) @ <300
So you would have picked up CML - what's your exit price?
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Not everything that counts, can be counted, and, not everything that can be counted counts - Albert Einstein

Mr_Dividend

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #10 on: December 21, 2015, 09:35:58 am »
Will let CML run for a bit

But AWA is more a hit and run kinda play Bought at R7.80 need to put a sell order on. Costs are 0.1% on buy and sell, so give or take 0.2% - so call it 782c. Will set one at 820. So 820 - 782 = 38c x 250 equals a cool R95.   ;)
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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 #11 on: December 21, 2015, 09:41:49 am »
Quote from: gcr on December 21, 2015, 09:35:08 am
Quote from: Mr_Dividend on December 21, 2015, 09:06:27 am
Order in for 200 CML <5100 and 500 ACL (pure RSI play) @ <300
So you would have picked up CML - what's your exit price?

Will track the RSI with CML - it's not popular at the moment so might sell when it reaches around 50. That said, it all depends on what chart you looking at. CML's RSI is 1 hr = 42 and on the 1 day is 21. I would have thought the 1 day - but I am guessing that's only compiled at the end of the day, so that would only help if I kept it for a few days. Which i might. Christmas rally....
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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 #12 on: December 21, 2015, 10:14:12 am »
Now, my target till the end of January is to make R100 per day. Had I sold quickly - I could have done that within 20 minutes. - Was up around R195. But of course, we always want more, don't we.

get in, make your target,  get out is, I guess, the aim of a day trader. No get in, make some money and go "ooh, that was easy, let's make some more..." .

have now set a sell price of 5195 for CML.

long on 100 whl - bought at 9766 - looking for 9863
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czc

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Re: Mr Div's CFD diary :: How to loose R25K in a few easy steps
« Reply #13 on: December 21, 2015, 11:33:56 am »
Which account did you chose? EQ Trader or Future Trader?

Checking out a demo account can't hurt.
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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 #14 on: December 21, 2015, 11:49:22 am »
EQ trader

Couple of things they do not tell you...

It does not run on chrome - works fine on Mozilla.

After installing it -go back and read the instructions - you need to go into Java to make a short cut.

But it's pretty straight forward - and good fun.
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