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     louis
Member
Username: louis
Post Number: 17
Registered: 11-2002Rating: N/A
Votes: 0
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| | Sunday, June 15, 2003 - 08:13 pm: |  
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What is the phone number for GSL's?
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uturn
Member
Username: uturn
Post Number: 426
Registered: 09-2002Rating: N/A
Votes: 0
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| | Sunday, June 15, 2003 - 10:00 pm: |
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1300 303 888 is the CMC number.
Don't know if there is a separate number for the GSLO's.
Cheers....uturn
INCREDIBLE OFFER - only $12 USD per month
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"Whatever comes for your livelihood accept it." -Papaji
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uturn
Member
Username: uturn
Post Number: 446
Registered: 09-2002Rating: N/A
Votes: 0
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| | Thursday, June 19, 2003 - 01:02 am: |
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ASB Paper Trade cont.........
2. A GSLO was purchased at this level = 83c protected.
2B. A GTC Stop was placed at this level (again 5% below) = 86c protected.
The trade was stopped out Tues 17 Jun 03.
So far we have a 3 day counter trend, with a large $pace to the high (78c) Fri 6 Jun 03.
Support above the 8 EMA (white)?
Buy stop order? 90c?
At the top of the gap between Tues close and Wed open?
Cheers.........uturn
"Whatever comes for your livelihood, accept it." -Papaji
_________________________________________________________________________________
The author is not a Licenced Investment Advisor. The material in this post is of a general nature and for discussion purposes only. It neither purports nor intends to be advice. Readers should
not act on the basis of any matter in this post.
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dydavo
Member
Username: dydavo
Post Number: 31
Registered: 12-2002Rating: N/A
Votes: 0
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| | Sunday, June 22, 2003 - 10:43 pm: |
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Dear all - all CFD dealing and tweaking of the guaranteed stop loss with
http://www.igmarkets.com.au/
can be done online, so no telephone confusions!!
cheers
dydavo
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stephen1
Member
Username: stephen1
Post Number: 23
Registered: 09-2002Rating: N/A
Votes: 0
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| | Tuesday, July 08, 2003 - 08:06 pm: |
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Hi uturn
A post on stockCentral claims IG Markets charge 0.3% for their guaranteed stop loss and move the stop for free. Also their buy and sell prices are said to be at actual ASX market values. Might be worth checking out.
www.stockcentral.com.au/forum/machine/Forum10/HTML/002243.html
cheers
Stephen
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lafee
Member
Username: lafee
Post Number: 147
Registered: 04-2003Rating: N/A
Votes: 0
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| | Wednesday, July 09, 2003 - 07:20 am: |
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Hi Uturn,
Have you had a look at applying your strategy to the currency markets through CMC?
Cheers
LaFeeVerte
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uturn
Member
Username: uturn
Post Number: 492
Registered: 09-2002Rating: N/A
Votes: 0
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| | Thursday, July 10, 2003 - 03:07 pm: |
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Hi Lafee,
Only last night, my mentor, through his own experience, advised me of the idiosyncracies of Forex trading.
The conclusion we arrived at was that trading US stocks (DFF) was the most rewarding and least stressful approach.
Cheers ..... uturn
"Whatever comes for your livelihood, accept it." -Papaji
_________________________________________________________________________________
The author is not a Licenced Investment Advisor. The material in this post is of a general nature and for discussion purposes only. It neither purports nor intends to be advice. Readers should
not act on the basis of any matter in this post.
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ballyi
Member
Username: ballyi
Post Number: 1
Registered: 12-2002Rating: N/A
Votes: 0
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| | Wednesday, July 16, 2003 - 11:04 pm: |
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Hi Uturn
Your strategy to trade CFD's with maximum capital protection has a lot of appeal to me as I am still feeling my way with CFD's and their software package.
Can you please expand a little on the entry end of your strategy? How do you manage your capital exposure between the trade entry and the first GSLO if the share does not move 5% in the first day? Do you hold overnight if the share moves less than 5% When do you use stop loss orders and how far below your entry do you place them?
cheers
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uturn
Member
Username: uturn
Post Number: 497
Registered: 09-2002Rating: N/A
Votes: 0
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| | Friday, July 18, 2003 - 04:24 pm: |
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Hi ballyi,
I never ever hold a position over night without a GSLO.
Some people have commented that this is too conservative,
however, it is my #1 rule and not negotiable for me.
One serious gap at open can wipe out an entire trading account.
It doesn't matter how rare these events are, one is enough.
ie Why do leveraged traders jump off roof tops?
I have already taken a substantial intra day loss because I fizzed around when setting my Stop Loss order; inexperience with the trading platform and order types / placement.
Hence my order type and placement doc. (previous post).
I now place my Stop Loss order at the same time as my order.
Limit Gain orders are always linked OCO to my Stop Loss orders.
(Let me know if you don't have PP and I will copy it onto a Word doc.)
On my recent MRL (Long) trade it was going to cost me 1c/CFD to exit, (since it was nowhere near my 5% GSLO target), or 2c/CFD to buy a GSLO.
I bought the GSLO even though it exposes me to some additional loss (10c).
I was very confident about the trade and wanted to pursue it.
As it turned out, I would have paid dearly for daily exits and re-entries due to the spread.
It is now in good profit, though only just reaching 5%.
In: $1-70 GSLO at $1-60 (calculated from the bid price; $1-69).
The bulk of the margin portion is protected.
I keep my Stop Loss orders tight and usually as close as the trading platform allows.
(2 x Spread + 1).
The patterns I am trading either move significantly or they don't, which means I am out!
I use Bill wormald's Trend tracker to set Limit Gain orders and confirm Stop Loss positions.
http://www.trendsandtripwires.com/
Cheers ..... uturn
"Whatever comes for your livelihood, accept it." -Papaji
_________________________________________________________________________________
The author is not a Licenced Investment Advisor. The material in this post is of a general nature and for discussion purposes only. It neither purports nor intends to be advice. Readers should
not act on the basis of any matter in this post.
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investinit
Member
Username: investinit
Post Number: 7
Registered: 08-2003Rating: N/A
Votes: 0
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| | Wednesday, September 03, 2003 - 10:09 pm: |
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Uturn,
I've been interested in CFD's for some time but due to the leverage risk and need for more trading experience have left them alone. I've just noticed this series of posts and your strategy seems to make sense.
How's it been standing up over the last month or so? There should have been plenty of opportunities.
Regards,
Invest
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uturn
Member
Username: uturn
Post Number: 522
Registered: 09-2002Rating: N/A
Votes: 0
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| | Thursday, September 04, 2003 - 04:38 am: |
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Hi investinit,
Yes, the CFD strategy is working well,
and returning very healthy profits.
The first 5% move of each trade is the critical phase.
Had a few testing times,
and switched CFD brokers for my US trading.
Finding Bill Wormald's Trend Tracker even more amazing.
You are very welcome to attend the IC meetings,
and I would be happy to outline the strategy
(much easier to do in person).
The Excel Spreadsheet(s) are even more amazing,
and have been recently upgraded.
One for CMC and one for IG Markets.
The guy that is doing it, deserves a medal!
Finding some excellent Nasdaq trades.
The percentage moves are incredible compared to the ASX.
So many opportunities, that I have had to severely restrict my watchlists.
Cheers ..... uturn
Something:
Of all the world, there is Something that only You can Do. Only You can Be.
It is not for anyone else..... Chaitanya
_________________________________________________________________________________
The author is not a Licenced Investment Advisor. The material in this post is of a general nature and for discussion purposes only. It neither purports nor intends to be advice. Readers should
not act on the basis of any matter in this post.
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andrewk
Member
Username: andrewk
Post Number: 7
Registered: 09-2003Rating: N/A
Votes: 0
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| | Thursday, September 04, 2003 - 10:25 pm: |
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Sounds like a good strategy. I must admit, I strongly thought about neglecting the GLSO part - but after observing TEM, I realised it would be an extremely bad idea. Sure the share may go back up, but unless you had the extra capital, the whole account could be wiped out. If you only lost the initial 5% margin (if you set the GSLO at 5%), then you could easily reinvest (if you have the funds available) and make the money that you lost back fairly quickly.
Of course it will probably be some time before I actually invest in CFDs.
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midge
Member
Username: midge
Post Number: 157
Registered: 10-2002Rating: N/A
Votes: 0
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| | Thursday, September 04, 2003 - 10:56 pm: | | |
CMC Order Types