CFD's

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Duritz

Duritz

Scourge of Bookmakers
Veteran 30k Posts 10k Posts BeanCoiNFT Investor Bay 13: Vintage Bay
Oct 15, 2007
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Here's me when I recently learned about the world of CFD's -

563d73af52c84__fred-astaire-9.jpg


It's like a straighforward way to magnify your profits!!!!

Who has great success stories with this wonderful method?
 
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ash_1050 said:
I like that Duritz got interested in the stock market 4 months ago and keeps dragging up obscure methods rather than just executing a buy and hold strategy. Kudos to you for getting excited about it.
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Buy and hold, man that's for people who need their food fed to them through a straw. I want action!!
 

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Affidavit said:
So so dangerous. Can make a fortune in the blink of an eye and lose everything in the same amount of time. Seen very inexperienced individuals lose tens of thousands by being wiped out within days.
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Can see how that would happen. Disciplined betting methods required. I do have a little experience in that.
 
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Jimmy_the_Gent said:
Just curious Duritz, if you were/are successful as a punter, why the move to stocks?

Also, what's the biggest similarly you've found with the two?
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Good questions, and worth answering.

The punt is getting harder. It's a REALLY long discussion, but there's a lot of reasons why it's harder to win now than it used to be. I'll dot point some quickly now, and if you want to know more about any, ask and I'll elaborate:

1. Jeljko
2. Corporates
3. Liquidity (ties in with 2)
4. Pools

Now, all these are OK, in a way, except for #2. #2 really shits me, and has turned me away from a sport that I not only love, but that has been a part of my family for many generations. Essentially, corporates are ruining our game, and no one is speaking up, except professional punters like myself, and our voices are small in comparison to the voices of the corporates. As someone I am very good friends with, who also happens to be high up in one of the leading corporates, "Racing Victoria don't care, we'll just throw more advertising $$$ at them."

That saddens me greatly. It really does. My grandfather was an enormous, ENORMOUS punter and SP bookie and sometime breeder/trainer. He backed his horse Desert Breeze in from 33/1 to 4/1 at Caulfield in the Group 1 Toorak handicap, and the horse won. But those days are gone.

And I could go on, and I do, but this thread isn't the place for it.

The biggest similarity is money management, by MILES AND MILES. I remember as a 15 year old reading books by racing professional punters and imagining how I would do it, and my eyes glazed over as soon as I got to the "money management" section.

However, that section is the most important, it turns out, in both racing and the markets. I was able to take the step from very good analyst who bet pretty well but randomly to professional punter as a result of money management. It is crucial.

However, this thread is about CFD's, and they are a different case again. I have theories I am developing, but I can't yet say I know what makes them work. They're different to shares, horses, the rest, they're a comparison of one economy to another, essentially, and that makes them cyclical, rather than predictably linear. However, cyclicity is predictable. So, we'll see.
 
Duritz said:
Good questions, and worth answering.

The punt is getting harder. It's a REALLY long discussion, but there's a lot of reasons why it's harder to win now than it used to be. I'll dot point some quickly now, and if you want to know more about any, ask and I'll elaborate:

1. Jeljko
2. Corporates
3. Liquidity (ties in with 2)
4. Pools

Now, all these are OK, in a way, except for #2. #2 really shits me, and has turned me away from a sport that I not only love, but that has been a part of my family for many generations. Essentially, corporates are ruining our game, and no one is speaking up, except professional punters like myself, and our voices are small in comparison to the voices of the corporates. As someone I am very good friends with, who also happens to be high up in one of the leading corporates, "Racing Victoria don't care, we'll just throw more advertising $$$ at them."

That saddens me greatly. It really does. My grandfather was an enormous, ENORMOUS punter and SP bookie and sometime breeder/trainer. He backed his horse Desert Breeze in from 33/1 to 4/1 at Caulfield in the Group 1 Toorak handicap, and the horse won. But those days are gone.

And I could go on, and I do, but this thread isn't the place for it.

The biggest similarity is money management, by MILES AND MILES. I remember as a 15 year old reading books by racing professional punters and imagining how I would do it, and my eyes glazed over as soon as I got to the "money management" section.

However, that section is the most important, it turns out, in both racing and the markets. I was able to take the step from very good analyst who bet pretty well but randomly to professional punter as a result of money management. It is crucial.

However, this thread is about CFD's, and they are a different case again. I have theories I am developing, but I can't yet say I know what makes them work. They're different to shares, horses, the rest, they're a comparison of one economy to another, essentially, and that makes them cyclical, rather than predictably linear. However, cyclicity is predictable. So, we'll see.
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He knew about that race...
 

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CFD's are dangerous as fu3k if you don't employ discipline. I've turned $1K into $11K in one night trading the AUD, but had similar losses too. Many of them.

I still trade CFDs but my margins / risk strategy are a lot more under control. I use IG Markets.

Best approach to investing and building wealth is get rich slow. Nothing wrong with a low-cost globally diversified portfolio
 
Yes I've discovered they are quite difficult. I've had some good days and some bad days. Overall, what I've really worked out is that with a currency, you have to know when to hold them, know when to fold them, know when to walk away, know when to run. In fact, IMO it is also sound to never count your money, when you're sitting at the table, there'll be time enough for counting when the dealing's done.

That's what I've learned anyhoo.
 
Duritz said:
Yes I've discovered they are quite difficult. I've had some good days and some bad days. Overall, what I've really worked out is that with a currency, you have to know when to hold them, know when to fold them, know when to walk away, know when to run. In fact, IMO it is also sound to never count your money, when you're sitting at the table, there'll be time enough for counting when the dealing's done.

That's what I've learned anyhoo.
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I imagine you took The Wolf Of Wall Street as a How-To manual instead of say a Cautionary Tale
 
Duritz said:
Your point being...?
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Your ability to go balls-to-the-wall at something has always endeared you to me Duritz, if you can successfully negotiate CFDs more power to you.

I can imagine you making 100% from something in a day, grabbing a brick of coke and the Moulin Rouge chorus line, and screaming, "THE WORLD IS NOT ENOUGH!!!"
 
deaneus said:
Your ability to go balls-to-the-wall at something has always endeared you to me Duritz, if you can successfully negotiate CFDs more power to you.

I can imagine you making 100% from something in a day, grabbing a brick of coke and the Moulin Rouge chorus line, and screaming, "THE WORLD IS NOT ENOUGH!!!"
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haha, disturbingly close to the truth... :oops:
 
Duritz said:
Yes I've discovered they are quite difficult. I've had some good days and some bad days. Overall, what I've really worked out is that with a currency, you have to know when to hold them, know when to fold them, know when to walk away, know when to run. In fact, IMO it is also sound to never count your money, when you're sitting at the table, there'll be time enough for counting when the dealing's done.

That's what I've learned anyhoo.
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What the hell you on about mate? I give you 6 months before you blow your CFD account up.

What you are doing is speculating, not investing. Won't work for you in the long run
 
Astro_ said:
What the hell you on about mate? I give you 6 months before you blow your CFD account up.

What you are doing is speculating, not investing. Won't work for you in the long run
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Actually I was singing country and western, but anyway!
 
OK, let's revisit this thread.

I was doing CFD's on currencies, had some wild times! Some big days and some big losses. Stopped doing it on the currencies.

However I am re-looking at it on the stocks. I have a solid stock method and I figure if I employ stop losses properly and don't get too highly leveraged (maybe 5 times leverage or so) then I can hopefully manage things.

Anyone else tried CFD's with stocks?
 
Ive always found stocks to be hard work with CFD's. Always a chance the price will gap. Much perfer indexs which i geel can be controlled more. My preferred are ASX200 and Wall Street. Also dont mind AUD/USD.

I'm much more disclipned with trading now. I use to trade big and sometimes make $10K- $15k in a day. Some big losses too. im much more structured now with my positions, stops etc
 
Anyone still trading CFDs? Have market conditions since late Feb impacted your trading strategies or results?
 
4 years on and still staying well away from CFDs. Amazing shitshow watching people getting burned time and time again by them on reddit.
 
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