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Not applicable
I started out as a new trader in march and started trading CFD'S in may. so far i have lost so much money. all i was looking for was to make a simple R200 a day. instead i have lost so much. i still believe its possible to achieve my goal, but im so reluctant to trade now. any advise
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22 REPLIES 22
Super Contributor
new trader , cfd's , lost money ---> sound like the perfect storm.
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gamma
Contributor
Easiest way to make the bank more money than for yourself
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Super Contributor
No one starts out good at trading.Like any other skill it takes a long time to become even slightly good at it.Think of your losses as school fees-we have all paid them at one time or another.Learn from your mistakes and just keep learning, learning, learning.It is easy to make money here and easy to lose it.One day you will start making more than you lose.If you have a day job keep it while you are learning otherwise you will be wiped out quickly. If you don't have a job then trade very small at first so your money lasts (depending on how much you have of course). If you started playing golf today for the first time and went out tomorrow to play against the pros they would kill you-it's the same with trading.Try to bring your handicap down!
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Valued Contributor
an start without gearing as that'll reduce the school fees
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Super Contributor
Don't I know about school fees....simply persist and hope the bank doesn't break you before you become slightly good at it. Control the risk for eg. the effect of gearing.
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Molemishi
Contributor
I also started in April this year i have lost four company and win one, so far i have learn my mistake,wait to buy and try as many technical information before you buy,know the future and history of the company and many more, the money i lost is painfull but i believe one day it will come back.
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Not applicable
i have been reading as many as possible and watching a lot of youtube videos to learn some technical analysis. any other recommended books, videos you guys suggest i read or watch?
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Valued Contributor
you can't know the future and if one starts form the point that one can than one can't succeed ..
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DF
Contributor
Can we use a practical example ? take CFR today.... RSI low, Stochastics low, MACD Low, Rom low...... Will it be good indication to buy call warrants ? Should make money next week if buy today ?
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DF
Contributor
Can we use a practical example ? take CFR today.... RSI low, Stochastics low, MACD Low, Rom low...... Will it be good indication to buy call warrants ? Should make money next week if buy today ?
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Valued Contributor
could make money next week if you buy today .. could lose money next week if you buy today .. it is either or and nobody knows which it is until after .. low anything is meaningless .. they can stay low for longer than one can stay in the market ..

worse thing that can happen is you do buy and make money because it is no strategy just a whim and not repeatedly but one believes the luck was and is repeatable ..

trading is about a clear cut, tested and proven trading system, one that you trade with rigid discipline without ever questioning anything ..

last point on CFR, check this post in twitter for another view that looks very ugly
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DF
Contributor
Ok, sorry, you probably get this question a lot but would this trading system (For warrants - short term)for example mean buy and sell when lines cross on indicator like RSI irrespective from wheter it is high or low ?
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Valued Contributor
yip, use a RSI, MACD or even just price (nothing fancy, standard uses for the indicator / oscillator) .. Riettes Saturday course has a great trading strategy .. also important, markets / stocks crash from over sold
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Super Contributor
Talking about the tech courses...if you new, the first course makes you think that you going to be rich by month end...that stochastic /MACD combination looks like a sure winner..but,but...
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DF
Contributor
So, on YOUR system is CFR a buy or sell today ? I bought today...;-)
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Super Contributor
on my trading system,sell was on 17 July at 108.I dont see a buy signal today.
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Valued Contributor
I don't trade equities .. but if I didn't it would not have been a buy today, I only buy what's going up .. I sell what's going down ..
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Dr_Phopho
Contributor
Started trading with derivatives myself 4 years...I lost alot of money until learnt risk management....
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Not applicable
with regards to risk management, is diversification the only way to reduce risk? i started trading CFD cause i was trying to avoid the tax cost involved in trading shares, it is cheaper to trade cfd than shares.
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