Just a little feed back from my first successful trade (after 4 failures) on AUS200 yesterday which may be of interest to some. I entered the uptrend at 11.15am and it ran for 2hrs 15min, nothing spectacular. Probably less than average length and speed when comparing it on the chart to others. What I found to be very interesting was the outcome. I made $580 in 2hrs 15min, I don’t think I have ever received anywhere near that pay rate in my life. If I rounded that down to a more conservative say $200/hr and multiplied it by the 20 hrs or so that the index trades each day I can see that it’s very possible to make around $4k/day while the market is in volatile mode.
I traded with TradeDirect365 in a new account. There are no actual costs when reversing, only the spread of 0.9 of a point. Unlike 5speed my holding varied from anywhere between 1 CFD to 10. Each CFD pays $1 per point and my average holding for the run was round 6.
I had 3 more drop outs in the afternoon and evening and now need to wait a week for NBN to fix the intermittent problem before I am brave enough to get back into it.
Converting the above info to 5speed’s trading would suggest that with his one CFD? representing an investment of $125k and mine being just $30k (6 x $5k), he is possibly making somewhere around 4 times more than me.each hour
(20min delay)