e shtunë, 19 maj 2007

I am feeling better now

I have just done the CFD course, and come out feeling really positive about the whole idea of trading CFD's, and making some decent cash out of it. Knowledge is power!

I was placing a buy on the ASK price, a sure way to get a buy every time, but at top dollar. So I now know that I should go slightly above the BID price, and once I get the order fulfilled, put my sell in 3% above the price I paid for the share. I also see that if I don't put a stop loss in ( I am not recommending this - make up your own mind), and my position is small enough so that if I end up selling out on a margin call, I will be able to take the punch, and live to tell the tale. Therefore, if I have no stop loss, and I still hold the share, even if it's down, I haven't lost until I sell. Capice?! Kind of loony reasoning but I think good.

So I have cancelled all my stop losses and taken smaller positions, over more shares with a wider spread. I also dropped some of my take profits to 2%, so I was first in line for a sell, and even though the profit was smaller, no one went broke making a profit. "BANK IT!"
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BLOG about "BUYING TIME" and making sure you "BANK IT!!"

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