CFD _ Over price _ Tesla

You won’t be able to trade Tesla on Monday as Tesla trades on a US stock exchange, which are closed on Monday.

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There really should be about 100 warnings. I’d say T212 make a killing on CFDs though. I’m paying 1 dollar a night just to hold 5 CFDs of MasterCard.

Oh, this is new. I didn’t know that I have to pay to keep the positions open in the night :thinking: May be I might have paid but didn’t realize as it was part of the larger loss. Three of my Tesla positions are remain open. Now it will be three nights of no trading. Does it mean will I be charged 3 X 3 = 9 dollars?

The price changes. In the “Results” section you can see details on “Interest”.

With CFDs on T212 you are leveraging your money 5:1 which means you get five times more buying power. So instead of buying 1 stock of tesla at $500 you can buy 5 CFDs at $500. So you can potentially make, but also quickly lose, more money. Since you’re essentially borrowing money for the purpose of leverage, you pay interest. Similar to how you pay interest to a bank on a loan.

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There are a few warnings including the legal warning something like “76% of users loose money using CFDs” :slight_smile:

but to be fair these are during installing the app creating account etc. so your brain is like

yes, yes, next, i aggree, yes to all

mode

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Thanks Kali. That’s right. But after losing for 4 days, I didn’t really find it too difficult. First thing, you must know the company you want to invest and share background. Then some serious tips including never chase and wait for your time. Had I knew about sell option, I would have chosen that four days back and I would have been rich by 2k in 3 days. Also, yesterday I was closely observing Tesla and in the mid day UK time and later in the evening, there were specific times when the prices were actually pushed upwards and it went on for a while. It didn’t look any surprising for me as it was one way traffic. The trend was visible. I think the best thing to do is to be vigilant and wait. I am new here and these are just my observations.

I did find it in the interest section. Thanks for this. I did pay interest for every transaction. But it was only 45 pence for overnight holding each position.

Not bad.
Do some reading on CFDs and practice using the practice account.

For now, stay with the Invest side. It’s a really shit start into investing for you but I hope you won’t be put off. As Pipo said, it’s a lesson that cost 2k.

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I bought on the day it split and took profit just before normal business close (9pm our time), which was around $498. It then continued to rise post trading hours - I saw it reach $516 at one point but not sure where it went from there.

It definitely surpassed $502 but probably not within the NYSE trading hours.

That’s cool. It was exactly at 9.30am (538 dollars) British time which means it was pre business hours in the NY Stock Exchange. That is the reason probably it is never showed in the google TSLA stock price.

RAMA

Hello are you from India? If you are from India I have question for you RAMA. How did make deposit in trading 212 Uk account I mean by which method? I have problem while depositing money to trading 212 UK account.

Could you please tell which type of card (debit or credit) you used to make deposit and of which bank (I mean bank name). So, that I can open a bank account in that bank and make deposits.

I have tried by Skrill but they charging me more with some bullshit taxes.

Hi Nithin. I am from India but I live in the UK. I used my UK account to fund. I have no idea about Indian bank accounts. Hope, others will be able to help you out.

Cheers,
Rama

You must have bought after hours because it did get up to that one day in after hours trading. You bought right at the very top! Try not to use cfds until you know what youre doing. You can lose your money very quickly!