Being my first post I thought I would give you a bit of a run down of myself and background to future trades I plan to post on this site.
I write on this blog as novice CFD investor, having traded shares on the Australian Stock Exchange (ASX) for 2 years with relative success, I decided to take the plunge into the dark world of leveraged trading. After setting up an account with CMC markets with $1,000 float, I began trading. What a lesson this was !!
Having installed the market maker platform on my computer and browsing through the technical indicators offered on the platform, I was burning to start trading. My first trade was a long on the $USD / $AUD. Although my analysis wasn't too bad, my stop loss was set way too close, with my trade closing out from the stop loss shortly after. My next ventures were trading equities in which I went long on Lihir gold throughout a $3.00 - $3.20 band it hovered in during much of 2007. I also had a small dip into trading spot gold.
Needless to say like most newbie CFD traders, my $1,000 didn't take me very far and it wasn't long before most of it had been lost. Although having lost $1,000 I learnt some in valuable lessons about money management the importance of having a strategy, being educated on the markets and most importantly not to gamble on stocks.
It has been a good 12 months since my de-virgination into the dark world and I have since educated myself and built up enough confidence to re-enter the dark world.
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