Nice to see you having a bit of fun on the markets @bosco222. No I haven’t been trading at all recently, and definitely haven’t been testing any bearish patterns. When I see a bear all I want to do is run in the opposite direction, although the experts suggest you don’t run but stand your ground instead. Either way I don’t think you are in for a very pleasant experience if confronted by a bear.
Recently I have been devoting most of my time to testing my CFD trading system. I’ve got a live account with FP Markets, and they’ve given me a 3 month period of no minimum brokerage. Thought I’d start by paper trading using the live IRESS platform. I use a short list of about 255 ASX stocks that can be traded long and short on margin less than 30%. After about three days I had about 30 closed trades and I found I was getting about 50 stocks each night to review. The system returned about 10% on margin. An excellent result, but this figure doesn’t include slippage.
Anyway, having about 20 open trades at any one time and trying to select the best potential trades from a shortlist of 30 to 50 each night isn’t really the type of trading I want to do. So I have been developing a trade technical ranking function which will allow me to shorten the list to 10 or so which is far more manageable. I’ll start paper trading and testing this next week and then go live on a small capital base the week after. Initially, thanks to no minimum brokerage, I’ll only have a maximum of about $4k at risk at any time, so any learning mistakes I make shouldn’t hurt me too much.
Thanks to all those who provided input regarding Broker Data and its use, especially @bossivic and @scatterbrain. It certainly has shed some light on the topic for me. I’ll have to add “Broker Data” to my list of future education topics, along with “Market Manipulation” and “Machine Learning”. So much to learn, it seems never ending.
If there is anyone out there who has an interest in short term CFD trading along the lines described above please let me know. We could set up a Thread in the CFD Forum where we could discuss the topic and issues more thoroughly.
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