Thans for opening up the repoire W. I still consider myself a novice to trading....consider myself in the hobbyist category.
For me the main reason for trading is to broaden income streams...I think that's important nowadays.
Funny you placed your time frame on what an ST duration is...for me that's a DT!
I tend to go FA in my selections and take pilots. TA is for exit entries sizing and I generally focus on higher small and midcaps. Tried the low liquidity stuff but don't have the patience or commitement.
I've learnt never to love a share but as I'm FA oriented I have to at least half like it! Anyway...gives you an idea of where I'm coming from...and it's likely I'll get more involved as time passes in terms of activity and setups...more bang for the buck kind of thing. Right now pretty happy with way I've been trading last 12 months...but note that many of the experienced traders say this last few years have been good years so probably more luck than smarts on my part!
I am yet to set up a CFD platform but will likely follow your and M's recommendtions as I read elsewhere that FP markets seems the go and you got to start somewhere. Currently use Commsec for Co portfolio...more for divvy stocks and CMC for personal trading.
As for the STT crew...I think I exaggerated the situation...there were responses but they fizzled fast...maybe not the appropriatte forum?...maybe my questions were so lame (suspect this was it!
But as you point out seems peeps either know a lot about this and seem very experienced traders so as a noob it's hard to follow or visualise or there is a void of info on how to set up and start the adventure.
Maybe there's instructional videos on the FP market site? No idea but would love to see a thread that walks you through the shorting for dummies stage with illustrative content from those in the know and those on the journey. Wouldn't want to impose it on you...but if you took a step by step commentary approach through your journey...which is kind of what's going on here anyway...think it would be wicked good!
A few questions ...can one keep a long position say for months at a time on say BHP or other instrument for example...and what kind of leverage are we talking about? If not...why not? If yes what are the pros vs cons? Does the rental price vary according to hold time or is it a fuxed daily thing?
Seems every time most peeps are talking exit/entries in CFD instrments like DT plays. Yet elsewhere it sounds like peeps take long positions. I understand the concept of "renting" the instrument but no idea what kind of charges the brokers want and whether the "rent" rate varies depending on the actual hold time.
Another question is do brokers pay same rates as retailers...or are they a whole other class. I have a real issue with uneven playing fields in regular trading so I'd presume the same goes in CFD trading...and on that point there is a very real dearth of information...which is not a good thing!
Anyway W...no pressure on you. Will probably have to go through process myself fir things to gel...it's the usual course when trying to unravel the mysteries of the universe really...but can say that at very least this thread has provided the kernels to get one started.
Cheers
