Recent content by yuapanda

Thanks Ged, very useful. I had come across a couple of the mentioned brokers already, but will look into the others in detail. edit: damn work firewall. Poking around for a web platform that doesn't get caught. Not as easy as I'd thought.

The ASX 200 is going through a bull run right now, hence his numbers. I've been watching the numbers, and yes, you can probably do 2k on 15k. Except these numbers probably aren't sustainable once things calm down.

I lack the USD $10,000, which makes IB problematic =( From reading other threads it appears my fear that CMC markets pulls dodges is true. I would appear that I'm back to taking another look at Comsec. Does anybody have experience with Comsec for CFDs?

I'm in Australia, and split between 2 choices: Commsec and CMCmarkets Commsec is a domestic brokerage run by one of the major banks here. The key advantage I can see if that commsec CFDs are exchange traded, so there's a measure of assurance that the broker isn't pulling any shennanigans, and...

And thus you can take advantage of gearing. If you're confident enough that a stock is going up or down, then why not leverage yourself? Make sure you stop-loss everything of course =) As a side issue, using CFDs allows you to short stuff which you might normally be able to do. E.g. in Aus...

Each contract will depend on where you trade as far as I know. I'm in Aus, so I can only speak for Australia. In Aus CFDs are exchange traded, so the ASX (australian stock exchange) publishes a contract price list. e.g the ASX200 contract is $305. Other costs like brokerage, OIC costs...

As stated, the biggest danger in the real world is yourself. But also keep in mind things like execution times. Demo accounts will usually execute trades immediatly, whereas in the real world there may be seconds of delay with leading slippage.

Nobody gets rich in this business. You simply obtain new levels of relative poverty.

Ah. Oops. Fail. I'm using commsec as a benchmark since it's part of Commonwealth Bank, and hence there's a measure of trust on my part that they won't pull any shenanigans like convientent lags in execution and so forth.

Commsec CFD product disclosure statement states brokerage for ASX 200 index as being $14.50 or 0.055%, whichever is higher. Therefore assuming the index is at 4000 (a close enough number and makes calcs easy), the underlying value would be 40,000. Thus the brokerage would be 0.055% of 40,000...

Does anybody use Commsec's exchange platform? As far a provider-stability goes, I think I'd rather trust comething backed by the commonwealth bank then an independent.

For me at least, a major "step" in my understanding was to realise that while a market is like a big gravy-train, trading is *not* running around positioning yourself to try and eat the whole lot. Consistent trading is simply taking a solid stance within clear-cut boundries and taking scoops...

Sorry, I don't understand. Why do brokers not like day traders and scalpers? I'd have though the more trades you do the more commissions you pay = they're happy.

Grr..need 10k USD to open an account with IB to access their paper trading platform. Sucks to be a new grad (read: poor).

Don't feel bad. I'm in Australia and I graduated from uni end of last year and I'm 22. So I highly doubt 24 is considered old in any way shape or form.