Sorry for the stupidly simple question, I can’t find the answer on here.
I’m starting to learn CFD live with £100 account.
To clarify, I understand all trades must be 5 mins or longer, to avoid being classed as scalping.
But my question relates to my profit taking.
Trying to earn 1% of the portfolio is somewhat tricky for me, and that only equates to £1 profit. My question relates to taking profits on small amounts:
If I have multiple positions open, and I close them all at once, some are closing for -0.20p and some for +0.05p.
For example, starting today I am up £1.50 (1.5%) but some of the trades I have taken profit on tiny amounts, as low as (£0.03p).
Is this ok??? Taking profits of such a small amount, providing trades last 5+ mins. (most last 20 to 40 minutes etc).
As shown below, some of theses were multi-close positions, resulting in tiny profits being taken.
I’ve been doing the exact same thing mate and getting quite good results. Starting with £100 and compounding the 1% interest every day your looking at over £3700 within a years time.
Just have to be strict with the 1%. I’m averaging at the moment between 1-3% daily
Happy to share my good and more importantly, bad trades lol it’s just catching the right buy price as that’s the killer. Buying a higher price and then price going the opposite way
Absolutely as long as your strict with it all lol human tendency is that once your doing well for so long you take the risks that’s not needed and end up losing what you’ve worked for
I’ve started toying with the Practise Account to get a grip of how things work. One thing for sure, I’d love to have £50k in my account for real to dabble about with …
Also appreciate the advice @Cashurkash, everyone had to start somewhere.
I’m new to CFD as well but I started from 100£ as it is plan to start with on real account. About scalping that’s how trades under 5 min time are called?
Looks good guys I’m going to try the same. So the one thing I have to do is stay in the market for a minimum of 5 minutes? Are there penalties for trading out before the 5 minute mark? Also what % of a loss do you get out of a bad trade?
% of loss will determine the size of the risk you take and where your get out point is (Stop loss).
Extract from Client agreement which is also attached.
Scalping ” means a speculative type of trading where the opening and closing of a position is executed within a very short timeframe (e.g. five minutes or less)
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