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My first ever trade was a CFD trade (not sure where i got the b*lls from). It was very stressful watching price drop etc but i learned two lessons;
1) dont trade with money you cant afford to lose
2) if you believe in the stock, be patient
i had to keep putting money in to maintain my margin (luckily i had that money to put in or i would have been completely fuc*ed) and it was a bit of a rollercoaster ride for me. I eventually made a decent over all profit but i think thats me done with CFDs. I am currently trading your 'normal' stocks and will continue you to do so (for now).
75% is quoted as 71% for CFD on adverts on my app. I couldn't find a figure for day trading. What has happened on a routine basis is people gambling their inheritance and pension pots and typically not making any profit. Only trade what you are prepared to loose as if in a casino.
CFD,s / Spread betting I believe is where the 75% figure (losses) may originate. Out of my depth and I wouldn't want to chance things.
Yesterday's range was circa 7.5p.
A few decent entry points, with hindsight of course.
See what today's range brings.
I've been messing about with alerts, I've set one up for IAG today sub 206p (buy).
If the alert triggers, I'll monitor. May not trigger though, today anyway. If not, watch and wait time.
GLA.
@Henrythecat
Yes, ok day / week trading when the markets are low. Sort of in the middle right now, with plenty of upside.
Depends on your strategy and what you do, or want to do with the profits.
I've only traded IAG from below the middle, to the bottom and back up (plus RI). If I only traded from the bottom (80-90p) and held to 220p, a fantastic % profit.
But, many must have bought near the old peak, held and still sitting on losses, unless averaging down or helped by the RI. Others may be at, or around break-even.
I only ever buy stocks and never short etc, this is a high risk area and perhaps where many lose money.
Anyway, wine and tapas Tuesday today.
Be lucky all.
I’ll review at 2.50 and see where we are at... if it’s stable and bubbling around that figure for a while I’ll take some profit if it keeps going I’ll leave it!
Thanks linkop! Now I just need to follow my own advice lol !!!
Inforno, Yes, we have to obey our self.
We just need next two months first, and then review, shouldn't look at daily value but to believe and always remind on what is the target.
It's easy to say that I should sold when SP is high and able to buy back at the lower once we look back at the charts but that is hard before it's happen...
I think that holders are winners here... We will get enough profit by the summer!
DYOR.
Thanks linkop! Now I just need to follow my own advice lol !!!
I was reading weekend post and found millions worth post by Inferno. I can't see another mantra to get some good profit from stock market than what he is saying, I am well proven that I lost lot of money from my day trading, but always take those back when I am PATIENCE, all my profit is due to the PATIENCE if there are reasonable factors.
Inferno quote;
75 % of day traders lose more than they make, FCA figures Not mine. To the 25% who get it right well done genuine kudos to you all.
The biggest skill to making money on the stock market is the easiest which requires no skill but it is one Which eludes 99% of people at times me included ....
And what is that golden monkey making attribute ......
One simple thing - PATIENCE
I do agree in essence but it has been made a little easier as a lot of the stocks started from historical lows.
To highlight your point I’ve day traded Barc and am up about 58% - I had just left alone and sat on my hands I would be up 105%.
patience
/'pe??(?)ns/
noun
noun: patience
1.
the capacity to accept or tolerate delay, problems, or suffering without becoming annoyed or anxious.
lol, I fail!
@Big blue..
Good luck to you, meant with genuine sentiment. However the true reality of day trading should be known to all especially new investors who see easy money -
75 % of day traders lose more than they make, FCA figures Not mine. To the 25% who get it right well done genuine kudos to you all.
The biggest skill to making money on the stock market is the easiest which requires no skill but it is one Which eludes 99% of people at times me included ....
And what is that golden monkey making attribute ......
One simple thing - PATIENCE