e enjte, 31 maj 2007

How to sell a CFD

The market had an up swing for about 2 hours and on checking my CFD trades I found that I had made a good profit on Sun International and it was time to "BANK IT!!". I called a Deal Stream and spoke to a broker to, putting a sell order in at the spot price to take my profit. Then I turned the screen off and went about my work.

Two hours later I still hadn't sold the share and I was down by R200, a R500 swing. What had happened? I hadn't checked the number of sellers at 2c below my sell price (16,000 in this case!) So as the last in the queue to sell I still hold the shares. Hint: always check how many sellers are in the market and then put your sell in at a lower price than theirs and you will sell out before them.

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BLOG about "BUYING TIME" and making sure you "BANK IT!!"

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