CFD Trading Manifesto
My rollercoaster journey in becoming a CFD trader
Archive for the ‘The Journey’ Category
My CFD Trading Diary
Author: Alex K.29 Sep
The importance of a trading diary
So according to Catherine Davey, CFD trading depends much on the respect between you and the market. Fair enough, I agree. And I’ve heard many horror stories about how people have lost big on leveraged investments. So Mr Market, you have my fullest respect - please don’t take all my hard earned savings and leave me on the streets.
Catherine states that many successful traders deem it necessary to keep a trading diary. Writing in diary form can allow one to describe the daily events and also express your trading emotions.
Catherine places a lot of emphasis on emotions. Especially how hesitation and doubt can play a critical factor when your on the clock. A trading diary let’s you learn from both your technical and psychological mistakes and become a better investor.
No need to reinvent the wheel
Hey, if it’s good enough for the gurus then its good enough for me. After all, this is why I bought the book.
Why bother making foolish newbie mistakes when I can learn from the mistakes other people have made? If the authors have the knowledge, skill and ability to publish a book about it, then I’m sure they’re doing something right! I’ll try to follow the tips, concepts and strategies used by the best and see if this whole CFD thing actually works.
So here goes my trading diary…
How I got hooked on CFD trading
Author: Alex K.29 Sep
I’ve recently discovered the world of CFD trading
I’ve been investing in shares for the last 3 years or so. Don’t get me wrong, but shares suck! Seriously, it takes way too long for anything to happen. Sure you might grow your capital by 20% a year and double your money every four years or so, but when you have a starting capital of almost nothing, that million dollar goal seems awfully far away.
Enter a friend who studies actuaries and this thing called CFD. Interesting at first. Addictive soon after. It offers speed, excitement and riches - three things important to a budding 21 year old law student such as myself. I was hooked!
The thought of doubling my money in a few days just seemed so damn…
My quest for knowledge
Anyways, I hit the local Border’s book store and started reading as much as I can. It’s surprising how little number of good books cover CFD’s. Finally found one that I had actually heard about before called: Making money from CFD trading by Catherine Davey. The slightly ugly cover art disguised the true brilliance of the content within. After a quick skim through the first few chapters I was sold.
So here it begins, my attempt to make a killing off CFD trading.
Naive? Perhaps. But as Ralph W. Emerson said: “Every artist was at first an amateur“, and I sure am addicted!
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