Connect with us

CFD

My CFD Journey: Day 2 Up $8 000

Published

on

Today was an interesting day. I followed the speech of Donald Trump live and tried to see if I could pinpoint a good buy or sell order based on his speech. He was mostly positive about the American economy and there was little to no new information that could give a strong indication on what to trade. Then I waited for the GDP numbers by the US. The GDP was expected to be at 3.0%, while it came in at 2.6%. It was lower than expected by analysts and I thought this would be a good day to short Dow Jones. I initiated a short call on Dow Jones at 26442. I could have taken profit a couple of times, but I decided to wait it out a couple more hours. Unfortunately, this trade did not correlate with my own rules. I traded against the trend. I keep arresting myself for making stupid mistakes like this even though I’ve pledged to follow my own rules, which are as follows:

// -- Discuss and ask questions in our community on Workplace.
  1. Only risk max 2% of my bank roll per trade.
  2. 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.)
  3. Always trade on last month’s trend including the previous day(s). If they do not correlate, I will not trade.
  4. 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.
  5. Do not think about lost trade opportunities.
  6. Markets to trade: Dax & Dow (minimum spread).
  7. Stay updated on economic releases prior to entering a trade.
  8. Do not have emotional ties to the money. I like to call them “points”.

Also read: My Golden Rules for Financial Freedom: Why I’m going to Reach $1 000 000

As you might expect, that trade went horribly wrong and I lost all the gains I had yesterday. However, since I’m using the martingale principle, I initiated a second trade, shorting Dow Jones (AGAIN!) at 26465. While doing that, a notification from CNBC popped up on my phone saying:

Treasury Secretary Mnuchin says a stronger dollar is in the best interest of the country.

I immediately looked into shorting GBP/USD, but since I already was in a trade (unfortunately), I left that opportunity. That was a mistake, as GBP/USD fell with more than 500 points right after. But as the rule tells me: Do not think about lost trade opportunities.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

My second Dow Jones short call ended up with an even bigger loss.. And I ignored my own rules for the second time. (Damn it’s hard.) Then I initiated my last trade for the day; I shorted Dax at 13342. This was a bit safer call as it was at its peak and the market was soon to close. I have experienced that just before a market closes, you can see sudden price changes. This was a trade more aligned with my trading rules, as Dax has been in a decline the last week. And yeah, I knocked that ball out of the park and ended up with 59 232 NOK in total profit, approx. 8 000 USD. I’ve now “made” $14 000 in two days.

 Day  Date  Asset Order Entry Price Take Profit Stop Loss NOK Bank Roll NOK
Day 1 25.01.2018 Dax Buy 13268 13274 13262 50 162,00 2 050 162,00
Day 2 26.01.2017 Dax Sell 13342 13318 13392 59 232,00 2 109 394,00

I would like to highlight that this is a very risky trading strategy, and shouldn’t be followed unless you can comfortably lose your bank roll.

I wish you all a great weekend. My family and I are going for some sushi.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
7 votes, average: 4.00 out of 57 votes, average: 4.00 out of 57 votes, average: 4.00 out of 57 votes, average: 4.00 out of 57 votes, average: 4.00 out of 5 (7 votes, average: 4.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.2 stars on average, based on 45 rated postsFounder of Hacked.com and CryptoCoinsNews




Feedback or Requests?

1 Comment

1 Comment

  1. dopezone

    January 26, 2018 at 10:13 pm

    Could you spend some money on fixing this website please? I keep having alerts from chrome and others that I can’t access this website due to virusses etc. Only when I add the www. – which mostly my browsers does itself… thanks!

You must be logged in to post a comment Login

Leave a Reply

CFD

My CFD Journey: Lost Most of My Gained Capital

Published

on

Oh my. CFD isn’t for everyone. I started the day by going long on Dax, which worked out fine for the entire day. But then, when the CPI numbers came out showing an increase of 0.5% instead of the anticipated 0.3%, Dax and other indexes just plummeted. See the image below for my position:

// -- Discuss and ask questions in our community on Workplace.

I did anticipate a large swing during the release, but that Dax would drop more than 200 points was totally mindblowing. The worst part about it, is that I did use Stop Loss on the trade I had active, but I weren’t able to do Guaranteed Stop Loss. What happened is that the positions did not close when the price hit my Stop Loss level. It just continued down like crazy. I was frantically trying to close the positions manually, but because of the volatility it took me a while to execute the orders. I did lose a lot on that trade, but thank god it didn’t wipe out my entire bankroll. That’s the risk when trading with CFD. But on the other hand, think if I actually did a short here, and bought the dip.

What is annoying is that the price rebounded back to a higher level than my original entry level. So if I had just waited it out, I would have made a very decent gain today. But when you see the market falls like that, you get nervous and just want to get out as quick as possible. I did believe it would fall further. This was a messed up trading day.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

What I’ve learned

When there are macroeconomic numbers being released, the safest way to approach that is to have 0 active trades. Then trade on the information that comes out right after. You wouldn’t be able to short Dax or Dow Jones because the robots are too quick. But you could have anticipated the rebound and bought the dip (which I should have).

From now on, I’ll continue with my leftovers and try to build my bank roll back up. I won’t do this mistake again, and I’ll also be quicker to close wins.

My Results

Order Entry Price Take Profit Stop Loss USD Bank Roll USD % of Start Cap.
Start 258 064,52
Day 1 25.01.2018 Dax Buy 13268 13274 13262 6 472,52 264 537,03 2,51
Day 2 26.01.2018 Dax Sell 13342 13318 13392 7 642,84 272 179,87 5,47
Day 3 29.01.2018 Dax Buy 13331 13336 13313 12 508,39 284 688,26 10,32
Day 4 30.01.2018 Dax Buy 13226 13233 13176 6 625,94 291 314,19 12,88
Day 5 31.01.2018 Dax Buy 13217 13230 13187 26 474,06 317 788,26 23,14
Day 6 01.02.2018 Dax Sell 13291 13265 13327 10 834,58 328 622,84 27,34
Day 7 02.02.2018 Dax Buy 12797 12825 12772 72 314,97 400 937,81 55,36
Day 7 02.02.2018 Dow x x x x −340 000,00 60 937,81 −76,39
Day 8 05.02.2018 Dow & Dax x x x x 353 333,33 420 000,00 62,75
Day 9 06.02.2018 Dow & Dax x x x x 236 933,20 656 933,20 154,56
Day 10 07.02.2018 Dow & Dax x x x x 278 933,47 935 866,67 262,65
Day 11 08.02.2018 Dow & Dax x x x x 212 533,33 1 148 400,00 345,01
Day 12 09.02.2018 Dow & Dax x x x x 272 266,67 1 420 666,67 450,51
Day 13 12.02.2018 Dow & Dax x x x x 171 240,00 1 591 906,67 516,86
Day 14 13.02.2018 Dow & Dax x x x x −705 240,00 886 666,67 243,58
Day15 14.02.2018 Dow & Dax x x x x −481 600,00 405 066,67 56,96

As you can see, I’m still up by 56,96% which is very good. But my two last drawdowns has just been amateurish. But I’ve learned from my mistakes. Hopefully the coming days will be better.

 

I’ve lost 336 trades, won 337 trades and have 2 even trades. This is very bad if you want to keep making money. I have to improve this number.

As you can see, the loss of worst trade has increased to 920 712 NOK which is 115 000 USD. That happened today with my failed trade.

Lol. Look at this. Fucking insane. I have to keep my mind together and find my grove back.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
9 votes, average: 4.78 out of 59 votes, average: 4.78 out of 59 votes, average: 4.78 out of 59 votes, average: 4.78 out of 59 votes, average: 4.78 out of 5 (9 votes, average: 4.78 out of 5)
You need to be a registered member to rate this.
Loading...

4.2 stars on average, based on 45 rated postsFounder of Hacked.com and CryptoCoinsNews




Feedback or Requests?

Continue Reading

CFD

My CFD Journey: Major Blow Yesterday

Published

on

Worst drawback that I’ve had happened yesterday. I kept hitting trades that just failed miserably. The market has totally changed it’s game since last week. It’s way more choppier and it has rebounded better than I expected. I had to cool down due to the loss yesterday, but I’m back at it today. Thankfully, I’m still up 169% from my original bankroll which is GOOD. But I risked far too much yesterday and did not stick to my trading rules. I have to be way more careful going forward even though I’ve turned in a nice profit. Remember, you never make money unless you actually withdraw the money from your trading platform. That’s probably something I should have done to minimise the risk.

// -- Discuss and ask questions in our community on Workplace.

My Results

Start 258 064,52
Day 1 25.01.2018 Dax Buy 13268 13274 13262 6 472,52 264 537,03 2,51
Day 2 26.01.2018 Dax Sell 13342 13318 13392 7 642,84 272 179,87 5,47
Day 3 29.01.2018 Dax Buy 13331 13336 13313 12 508,39 284 688,26 10,32
Day 4 30.01.2018 Dax Buy 13226 13233 13176 6 625,94 291 314,19 12,88
Day 5 31.01.2018 Dax Buy 13217 13230 13187 26 474,06 317 788,26 23,14
Day 6 01.02.2018 Dax Sell 13291 13265 13327 10 834,58 328 622,84 27,34
Day 7 02.02.2018 Dax Buy 12797 12825 12772 72 314,97 400 937,81 55,36
Day 7 02.02.2018 Dow x x x x −340 000,00 60 937,81 −76,39
Day 8 05.02.2018 Dow & Dax x x x x 353 333,33 420 000,00 62,75
Day 9 06.02.2018 Dow & Dax x x x x 236 933,20 656 933,20 148,33
Day 10 07.02.2018 Dow & Dax x x x x 278 933,47 935 866,67 243,84
Day 11 08.02.2018 Dow & Dax x x x x 212 533,33 1 148 400,00 303,39
Day 12 09.02.2018 Dow & Dax x x x x 272 266,67 1 420 666,67 387,68
Day 13 12.02.2018 Dow & Dax x x x x 171 240,00 1 591 906,67 400,93
Day 14 13.02.2018 Dow & Dax x x x x −705 240,00 886 666,67 169,81
Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
2 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 5 (2 votes, average: 4.50 out of 5)
You need to be a registered member to rate this.
Loading...

4.2 stars on average, based on 45 rated postsFounder of Hacked.com and CryptoCoinsNews




Feedback or Requests?

Continue Reading

CFD

My CFD Journey: 171 000 USD in Profit

Published

on

Yesterday, I was going to short Dow Jones at 24,250. Something told me to wait until the pre-market opened at 00:00 GMT+1 on my trading platform. Thank god that I waited. The Dow jumped up to 24,360 and I would have been in a bad position. After Dow’s worst week in years (last week) I believed we would still see a very choppy market where the bears were stronger than the bulls. As of today, this was the wrong conception. I traded Dax last night and did some OK profits. Then I turned back to Dax this morning and went long and short a couple of times. I did some mistakes which ended up with more than 100 000 USD in loss. I managed to regain what I initially lost by entering some monster trades that I kept for a while turning in decent profits. Then I traded Dow this afternoon going long and shorting peaks. Both worked very well. I’m now up 171,000 USD today. I’m happy with that.

// -- Discuss and ask questions in our community on Workplace.

My results

Order Entry Price Take Profit Stop Loss USD Bank Roll USD % of Start Cap.
Start 258 064,52
Day 1 25.01.2018 Dax Buy 13268 13274 13262 6 472,52 264 537,03 2,51
Day 2 26.01.2018 Dax Sell 13342 13318 13392 7 642,84 272 179,87 5,47
Day 3 29.01.2018 Dax Buy 13331 13336 13313 12 508,39 284 688,26 10,32
Day 4 30.01.2018 Dax Buy 13226 13233 13176 6 625,94 291 314,19 12,88
Day 5 31.01.2018 Dax Buy 13217 13230 13187 26 474,06 317 788,26 23,14
Day 6 01.02.2018 Dax Sell 13291 13265 13327 10 834,58 328 622,84 27,34
Day 7 02.02.2018 Dax Buy 12797 12825 12772 72 314,97 400 937,81 55,36
Day 7 02.02.2018 Dow x x x x −340 000,00 60 937,81 −76,39
Day 8 05.02.2018 Dow & Dax x x x x 353 333,33 420 000,00 62,75
Day 9 06.02.2018 Dow & Dax x x x x 236 933,20 656 933,20 148,33
Day 10 07.02.2018 Dow & Dax x x x x 278 933,47 935 866,67 243,84
Day 11 08.02.2018 Dow & Dax x x x x 212 533,33 1 148 400,00 303,39
Day 12 09.02.2018 Dow & Dax x x x x 272 266,67 1 420 666,67 387,68
Day 13 12.02.2018 Dow & Dax x x x x 171 240,00 1 591 906,67 400,93

If you look at the % of winning trades, it’s slowly decreasing. This is a bit worrying as I would like to keep at least 60% as winning trades. If I reach 50%, that means I won’t be profitable. However, the market is very choppy now, last week we had a clear downtrend which was easier to follow. Now you need a few trades to get the correct momentum on your side. I have to work on improving this number.


// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //


The image above shows that I’ve been making less these past days, but this is a strategy from my end as I want to risk less of my bank roll and want to have more winning days than big drawdowns that might happen if I risk too much. It’s better to make some money than to lose money.

Also read: Never lose money

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
4 votes, average: 4.00 out of 54 votes, average: 4.00 out of 54 votes, average: 4.00 out of 54 votes, average: 4.00 out of 54 votes, average: 4.00 out of 5 (4 votes, average: 4.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.2 stars on average, based on 45 rated postsFounder of Hacked.com and CryptoCoinsNews




Feedback or Requests?

Continue Reading

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending