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Making Money From CFD Trading, Discuss this new book with author Catherine Davey
arty
post Posted: Jun 15 2010, 11:03 PM
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In Reply To: wolverine's post @ Jun 15 2010, 10:32 PM

If it's "smarts" you're after: Here is something I find both entertaining and mind-exercising.

http://sudoku.com.au/

Remember those silly ads, where Olivia N-J claims to regain the mental age of 29 again?
If you can get on the net, it's cheaper than having to buy one of those Nintendo/Wii/game thingies. (Unless you're Olivia and can charge Gazillions for making ads that separate dummies from readies by suggesting you just have to waste money to get smart. blink.gif )



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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
wolverine
post Posted: Jun 15 2010, 10:32 PM
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In Reply To: hungry's post @ Jun 15 2010, 10:26 PM

It makes you smart to use the tools to your advantage.



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TOO MANY CHIEFS

NOT ENOUGH INDIANS

Said 'Thanks' for this post: hungry  
 
hungry
post Posted: Jun 15 2010, 10:26 PM
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In Reply To: wolverine's post @ Jun 15 2010, 09:47 PM

[quote] you are making a tip or a call on direction

Yep Wolv
That's correct. It's also called speculation. So that would make us TA traders : spific - spitters - erhhh - speccies
Oohh I give up biggrin.gif
Gamblers ?

 
wolverine
post Posted: Jun 15 2010, 09:47 PM
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In Reply To: mpl's post @ Jun 15 2010, 09:07 PM

Umm, I was only joking about listening to others and the irony of what you said was worth giggle. It was in no way shape or form disagreeing with the sentiment of what you are saying.

But since you opened the door...

...a chart doesn't tell you anything, you tell yourself what you think a chart is displaying. It is a visual representation of whatever the market is/was doing retrospectively. From which you make a series of assumption as to what is likely to happen based on the past or that you can react to based on the balance of your assessed probabilities. That is a smart way to trade as far as I can see.

A chart interpretation is as valid a tip as any other, unfortunately it is the future which will confirm the correctness of each call.

I have gathered that your term of reference is short term so FA is pretty useless and TA is a much more useful tool. Something you should keep using as you are good at and no doubt will refine with time.

If you are making constant analyses then you will probably discount my assertion that you make a tip but the moment you buy or sell you are making a tip or a call on direction.



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TOO MANY CHIEFS

NOT ENOUGH INDIANS
 
mpl
post Posted: Jun 15 2010, 09:07 PM
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In Reply To: wolverine's post @ Jun 15 2010, 08:42 PM

Hi Wolverine.

6. Clearly states to NOT listen to anyone who gives you "tips". Being totaly T/A why would you not follow what the Chart is telling you?.

IMO learnng is all about takeing in what other traders say BUT then to use what works for you, After you have Back tested many many times to find exactly what WORKS for you.

Cant explain it any better than that.

 
wolverine
post Posted: Jun 15 2010, 08:42 PM
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In Reply To: mpl's post @ Jun 15 2010, 06:50 PM

QUOTE
6.Back test, back test, Back test. Learn, learn, learn & DO NOT LISTEN TO ANY OTHER VIEW on direction of Stock or Market.
7. NO EXCEPTION TO THE ABOVE !!!.


What happens if I try to listen to your rules but then get to rule 6 & 7?

I am going to be stuck inside a logic box with no way out. tongue.gif



--------------------
TOO MANY CHIEFS

NOT ENOUGH INDIANS
 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


hungry
post Posted: Jun 15 2010, 08:37 PM
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In Reply To: mpl's post @ Jun 15 2010, 06:50 PM

Haha - seems the public scrutiny has had it's effect & the providers are defending.
I might add the facts in the following story are total BS. I've had several CFD accounts with several providers over the yrs & not one of them has checked any of the details I gave them about income or assets.
Never even spoke to them, from memory, just the paper application was sufficient to open an account & start trading.

http://www.thebull.com.au/articles/a/12103...disclosure.html

MPL
Good rules you have. Discipline is the most important factor imo, once you have your proven trading plan in place.

 
mpl
post Posted: Jun 15 2010, 06:50 PM
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In Reply To: hungry's post @ Jun 15 2010, 05:57 PM

Hi Hungry & Arty.

As most people in here seem to have a pre conception of the dangers associated with use of CFDs. A few personal rules I will share apart from previously stated Funding A/C management.

With not only CFD's but all stocks either mother stocks or leveraged.

1. Risk rule used is 2% of capitol.
2. Stops in place before entering trade.
3. Three loosing trades means Sin Bin for the rest of the week. (equities.)
4. Three loosing trades on the Futures it is back to the Simulator for the rest of the Night.
5. Deal with the BIGGEST enemy constantly--- The space between ones EARS.
6.Back test, back test, Back test. Learn, learn, learn & DO NOT LISTEN TO ANY OTHER VIEW on direction of Stock or Market.
7. NO EXCEPTION TO THE ABOVE !!!.

 
arty
post Posted: Jun 15 2010, 06:45 PM
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In Reply To: hungry's post @ Jun 15 2010, 05:57 PM

Smart thinking, Hungry

(I've got to say that of course - after all, that's how I handle it too tongue.gif )



--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
arty
post Posted: Jun 15 2010, 06:20 PM
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In Reply To: sirob's post @ Jun 15 2010, 05:18 PM

especially during the GFC, CFDs came back into their own, used for their original purpose: Hedging.

Of course, there is a prerequisite that some ppl are lacking: "Know what you're doing".



--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
 


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