CFD Scalping - Taking tiny profits question

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.

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Great money to be made folks with this latest COVID-19 rebound :slight_smile: over 10% today instead of 1% :rocket:

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What an absolute backfire!!! Account is currently at over 50% down from this morning :see_no_evil: god bless the FED buying those corporate bonds just as news was released of a second wave :man_facepalming:t2: Markets surging instead of going down lol

I would not bet against FED, meaning no short positions on broad market…

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@Cashurkash
Feel the same way, I just give up for a bit on the CFD day trade idea. Was so hard to earn consistently in this market.

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Not at all… Started with €50 in March. Doubled it multiple times… It is just the strategy.

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Stocks only go up. Everyone knows that.

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45am74

:sweat_smile:

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Hahahahahahaha

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

Got to claw it back then pal!
I’m going to document everything and give it another go on practice for a week or two, then roll out the big guns :smiley:

■■■■ happens. Have a good cry, take a beer and try again. Do not pass Start, you will not receive $20,000

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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.

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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.

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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 :woman_facepalming:t2:
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!

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@chantal @CeeGee It happens unfortunately. I’m going to try lock some profit in by sending it to my bank in future!

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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.

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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 :roll_eyes:)

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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% :joy: moral of the story, greed bleeds!!

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Don’t they say fear and greed go hand in hand with this turbulent journey? I couldn’t agree more!

@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.

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