David at T212 kindly wrote and explained to me the following:
“It’s okay to trade small sizes & close positions in less than 5 minutes, even more than a few (10-15-20, etc…) positions. The problem arises when that’s the sole way of trading & is aimed at abusing an issue with the trading app.”
So bare this in mind when you are trading.
Hope this helps clear the air a little on scalping issues or questions.
What an absolute backfire!!! Account is currently at over 50% down from this morning god bless the FED buying those corporate bonds just as news was released of a second wave Markets surging instead of going down lol
Well I started last week and was working on the 1% per day in the CFD and, was smashing that number big time.
Unfortunately the market went the opposite way yesterday whilst out at the beach with the family. I didn’t set a SL after the blip of last week but, we live and we learn.
This bubble will burst at some point and it’s gonna be a great rollercoaster ride down
It happens. Last week I made 3k in a couple of days, lost most of it trying to double it being greedy. Made a new strategy of staying with high market cap stocks only, averaging down, and taking frequent smaller gains. It’s paying off so far.
Same here. Very profitable trade closed. Then chasing a trade based on premature entry (completely ignoring my strategy) and eventually closing trade with a loss and losing 2/3s of my previous gain. Lesson learned. Again.
I spent around 10 weeks learning CFD silver and thought I’d mastered this stock. Stayed with just the one. Kept consistent. Made money, made some more money, lost all the money
I’m tempted to try again as it fell to around $17 yesterday, if ONLY I’d kept hold of it when it fell to less than $15 I’d have been one happy buyer!
My goal is to make consistent profits each week. After I reach a goal I have set for myself each week, I will payout the profit on Friday and start the next week with the same starting amount as the week before.
It does and it sort of shows me how truly volatile CFD is. Not for the faint hearted.
That’s a good plan, defo not a platform to reinvest your profits. Keep your capital and take your profits (if you have profits there, unlike me currently )
I too was greedy and didn’t stick to my 1% per day. Was far exceeding 10% at time of leaving and came back home to minus 50% moral of the story, greed bleeds!!
@chantal that is a good method. Although personally, I don’t think I would take 100% profit every week. Maybe 50 or 75%. You can make more money with more profit. But of course this brings more risk.
@Cashurkash 1% per day is a very good a very realistic goal I think.