My CFD Journey: $6,400 up on Day 1
Last year I did some live sessions on CFD trading for our Workplace community. After that, I ended up with a longer streak of losing trades. I shifted my focus for a while, investigating trading robots including building CCN.com and improving Hacked.com. I’m always on the lookout for the best trading strategies – and I’m not afraid of losing money during my own personal research. Today, I’ve decided to start with trading CFD again and try to shift my strategy towards the following:
- Only risk max 2% of my bank roll per trade.
- Have 0 active positions during the night (first of all, I lose sleep, second; you are charged an interest fee for leaving a leveraged product overnight.)
- Always trade on last month’s trend including the previous day(s). If they do not correlate, I will not trade.
- If one position is lost, I’ll double the amount (martingale) and do a second trade. I’ll only stop doubling after 3 consecutive losses.
- Do not think about lost trade opportunities.
- Markets to trade: Dax & Dow (minimum spread).
- Stay updated on economic releases prior to entering a trade.
- Do not have emotional ties to the money. I like to call them “points”.
I’m starting with 2 million NOK which is approx. 250 000 USD. Here’s how it went the first day:
|Order||Entry Price||Take Profit||Stop Loss||NOK||Bank Roll NOK|
|Day 1||25.01.2018||Germany Index||Buy||13268||13274||13218||50 162,00||2 050 162,00|
I did risk losing more than 2% of my bank roll with this trade, which I’m going to be stricter about for the following trades, including making sure the daily trend follows the monthly trend.
There might be days that I do not trade (multiple reasons), hence you will not see trade posts from me daily on Hacked.com.
Remember: I’m only risking money I can comfortably afford to lose and which does not hinder my other investment activities.