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Anyone trading CFD...

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  • Anyone trading CFD...

    Hi, just wondering if anyone is trading CFD's or interested in doing so, there is a seminar, (OMG I am going to a seminar) coming up in Auckland on Thursday night if you are interested let me know.

    I think I might rest on property and look at some share trading.


  • #2
    Hi Josko


    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx


    • #3
      Hi Muppet,

      CFD means Contract For Difference. A CFD mirrors the performance of a share or index and offers the benefits of trading shares without having to physically own them. Just like physical shares your profit or loss is determined by the difference between your buy price and your sell price.....

      The benefit is that you can Leverage with CFD, so with that comes the high risk and high reward due to the natrual volatility of the market.

      Will be interesting, do some research here... www.cmcmarkets.co.nz



      • #4
        Some more good information here...


        • #5
          I was trading a bit last year. I found I wasn't educated enough in technical analysis to really do well. I also didn't have the time (or it wasn't a big enough priority) to get educated.

          I had a bit of fun though

          I also didn't like using CMC markets who are "market makers" not "direct market" brokers. Sometimes the spread is just ridiculous...

          My advice would be like in anything... get educated and start small - paper trade first.


          • #6
            Thanks rueben, yes the key is education, I have built a good discipline from my foray into property investing and have been researching with renewed excitement, rather then paper trading go to http://theconsensustrader.com.au/ trade CFD's in simulation already made 2k on a buy yesterday, making my stop tighter to lock in profits, offcourse there is a lot more to it, but will have a serious look at the workings of technical analysis and charting to get a feel for it.

            Agree about CMC, it does appear from my research into other share forums they do not have a good reputation and do seem to have a bookie process around their business model, will look into it more closely.