I love this thread. Lots of good advice for the beginners, people "holding the fort" for others as nightwatchman. Most refreshing compared to the other threads on HC.
I amazed at the access that normal punters ( I include myself in that category ) have to derivatives and leverage. I made 1 yes 1 CFD trade about 5 years ago ( successful) and never did it again. The downside scared the crap out of me. To think that finance inst. are allowing people access to these sorts of things boggles the mind. Dont get me wrong borrowing money to invest is a legitimate strategy but you need to know what youre doing. People answer a few test questions on commsec to qualify as sophisticated investors so that commsec has a clear conscience as they get murdered in the market. Its one thing to know how to use an assault rifle. Its quite another to stand in the trenches as someone is shooting at you. Be careful. Anyone who has seen their accounts drained knows what I'm talking about.
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