After 15 months of trading CFDs I am once again changing my strategy.
I am thinking of the market "upside down" and going for much longer term ie less trading and supporting my position when the market swings. I will sell off some of my BEAR shares (these are waiting for the fall) and instead of waiting for the fall will chose stocks that are overvalues (in my opinion).
If I look back at my trading since Feb, if I had just sold and SAT I would be FAR better off now than I am IN SPITE of the market going up.
You can check back the posts my sells have n]been FMG (scary at $6.15 can you believe it) HVN ($3.30) JBH ($21) FXJ ($1.05) CSL ($71) CBA ($82) FLT ($52).
If I had sat I would be in serious profits with NO trading. I still feel same about these stocks but now add MQG, SUN MQA WES and OSH.
Basically feel in these stocks upside is limited in reality (but remember they can keep going until all my spec money is lost).
The general consensus on ASX is trading between 6000 and 5000.
So from now until I get forced to close positions will support the positions with cash from my BEAR sales instead of waiting for the crash to appear.
This obviously increases my leverage.
The trading volumes over the past 2 months are increasingly shallower indicating there is little apetite from funds to buy at these levels.
Hope I don't need to give up CFD's will have to wait and see!
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A different mindset
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