Home » ShareChat » ShareChat » A fixed Rand portfolio vs the current Monthly competition
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51086] |
Wed, 10 March 2010 08:21   |
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA |
Senior Member |
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Hdbb Gold was at a 1,115 low yesterday afternoon and currently sitting on 1,126
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51087] |
Wed, 10 March 2010 08:23 |
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA |
Senior Member |
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Ok I insert a s/l of $1,123 now t/p 1,145 tomorrow
Happy ?
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51092] |
Wed, 10 March 2010 08:48 |
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA |
Senior Member |
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I didn't follow it live as I had other work to day and trades to follow
IF it were at $1,107 low can u please provide me with proof and I will advise what I would have done to manage myself out of the situation
I would have then been -R6,739, overall value R59,961, IM R66,700
Sell 82 Gold contracts to cover negative intraday position, R6.7k
contracts left 418- IM required R58,895
Or alternatively I could have sold 27,000 SIM shares to cover
My platform do regressive selling , JUST to cover margin call, and in this case would have sold of the holdings having made less losses Pnl wise, hence SIM first
Ok selling my 500 Gold contracts to limit losses $1,127, overall portfolio position R128,161 08:40 am 10.3
Have to go to JHB for appointment, will re-enter later today
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51094] |
Wed, 10 March 2010 08:53 |
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA |
Senior Member |
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Will adjust the spreadsheet when I come back to show SIM partial exit to cover margin shortfall
25,000 SIM shares sold at 124c, overall value won't be affected as per the 08:40 sheet as holdings is already valued at low of 123c for SIM
When market opens im buying 60,000 MTX at 450c or price at 09:05c traded and avail sufficient volumes, offer looking to be currently at 449c
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51098] |
Wed, 10 March 2010 09:08 |
contango 
Messages: 1322
Registered: October 2004 |
Senior Member |
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I'm afraid I can't help with the maintenance of a spreadsheet. The one I offered earlier can be used for derivatives and/or standard share trading simply by changing the factor % i.e. 1 for outright purchases and e.g. 15% for margin purchases. Imagine if 30 people were playing and each entered 4 intraday trades as CFD has been doing... That's updating 120 new rows per day! It's even worse if the admin is expected to check 30 separate spreadsheets assuming players maintain their own. It's almost a full time job whether it's derivatives or not.
| SpongeBob wrote on Tue, 09 March 2010 11:21 | Hi Contango, Sorry, I know this is off topic.
I heard from a fellow forumer that you are a trader for XXX.
I would like to know what route one must follow to become a trader for a financial institution? I recently graduated with an engineering degree but I have a huge passion for trading and the financial world. What do you recommed I do? Should I get my CFA certification first or are there institutions that take unexperienced people i.t.o. trading?
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I'm a mining engineer and sometimes wish I had stayed in a 'real job'. If I were you I'd consider very carefully rushing into the financial world when you could be making a real difference in the world with your engineering skills. Anyway, here's the lowdown on trading and my advice...
Trading is boring when done right. In the morning you come in and fire up all your spreadsheets and market systems. Then you read all the broker and analyst updates and update your trading models. It's the same thing, day in, day out. Sitting in front of 4 or 5 screens. Maybe taking a break to practise your putting on the dealing floor or shooting a few hoops. Often there's issues with your overnight profit and loss reports and then you fight with risk managers and accountants for a few hours. But mostly you sit and watch numbers and graphs. A lot of time is also spent watching Bloomberg, CNBC and SuperSport. Sometimes you actually trade something but often you prefer not to because booking trades is tiresome and if you book it wrong then it's a deal amendment and if you make too many amendments you get hauled in front of management for sloppy deal admin. When you start off as a junior trader the greatest skill you can posess is the ability to make and fetch coffee.
If you still want to get into trading then it's probably easiest to enter via the middle (risk management) or back office (operations). For some unknown reason all these people want to get into the front office (trading) so you need to get in the queue there. You could join the treasury department of a corporate e.g. SA Breweries and hedge FX etc. for them. But they don't pay (supposedly) like the banks do. Remember that although the banks supposedly pay big bonuses the basic salary is not exactly fantastic. And if you don't make money you get a big fat zero for a bonus. The world has changed and there's no easy money out there. I think there's very few trading shops that would take an inexperienced engineer for a trading role. I wouldn't bother with a CFA if you only want to go into a trading role. Every Tom, Dick and Harry has one and it's really no advantage for trading specifically. You could consider joining a brokerage company first and getting some relevant market experience there. Then approach the HR dept. of a bank. Good luck. Wish I could be more positive about it. If I were you though I'd stick with engineering and aim to be a huge success there. Trade small with your own money privately. All the greatest traders trade with their own money. It forces you to learn how to trade properly.
Disclaimer:
This does not constitute guidance or a transaction proposal. You should not place any reliance on it when entering into transactions.
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51101] |
Wed, 10 March 2010 09:28 |
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hdbb
Messages: 539
Registered: August 2009
Location: By the sea |
Senior Member |
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| CFD Trader wrote on Wed, 10 March 2010 08:48 | I didn't follow it live as I had other work to day and trades to follow
IF it were at $1,107 low can u please provide me with proof and I will advise what I would have done to manage myself out of the situation
I would have then been -R6,739, overall value R59,961, IM R66,700
Sell 82 Gold contracts to cover negative intraday position, R6.7k
contracts left 418- IM required R58,895
Or alternatively I could have sold 27,000 SIM shares to cover
My platform do regressive selling , JUST to cover margin call, and in this case would have sold of the holdings having made less losses Pnl wise, hence SIM first
Ok selling my 500 Gold contracts to limit losses $1,127, overall portfolio position R128,161 08:40 am 10.3
Have to go to JHB for appointment, will re-enter later today
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Proof as per KITCO
New York Spot Price
MARKET IS CLOSED
(Will open in 5 hrs. 56 mins.)
Metals
Date
Time
(EST)
Bid
Ask
Change
Low
High
GOLD
03/09/2010
17:14
1122.20
1123.20
-1.50
-0.13%
1107.60
1125.80
hdb
The mediocre teacher tells.The good teacher explains.The superior teacher demonstrates. The great teacher inspires!!
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51159] |
Wed, 10 March 2010 20:59 |
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA |
Senior Member |
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Thx hdbb, my SIM then hedged me and was partially sold automatically as first resort (27,000 shares)
I also sold my Gold early this morning as signs was there it would retreat again..
Today I took another big punch, MTX bought at 452c avg. just after opening and got clobbered down to 429c at one point, same with SIM was down to 119c then back up to 125c
Eishh markets are dipsy this week....im beginning to think their just like women with aches/pains and emotions
Mon/tue co-incided with red-scooter day...funny enough
Updated spreadsheet close of today, SIM unrealised loss of 10,7k and MTX 11,6k, overall portfolio value at the moment to R115,919
I see u just hovering in the green hdbb, BAW 2.8k up and GFI 2.1k down.. 
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51163] |
Thu, 11 March 2010 01:03 |
Bullhunter
Messages: 428
Registered: September 2009
Location: Northcliff |
Senior Member |
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| contango wrote on Wed, 10 March 2010 09:08 |
I'm a mining engineer and sometimes wish I had stayed in a 'real job'.
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I've treated the 'outcomes' of mining engineering for over 25 years.Me thinks you were wise to get out.
You're too damn clever to stay in such a mundane career.
Opportunities are made up easier than losses.
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51227] |
Thu, 11 March 2010 18:37 |
'Woes'
Messages: 368
Registered: August 2009
Location: Kaap Stad |
Senior Member |
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CFD
The only way to settle this is with 2 threads.You should start your own "Derivitive Trades Portfolio" thread and we can have a separate "Portfolio without geared Trades" thread.
'Don't tell me what to buy, tell me WHEN to buy it.'
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51233] |
Thu, 11 March 2010 20:19 |
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA |
Senior Member |
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Updated spreadsheet, MTX dealt me a further 6k blow, overall portfolio now sitting on 109.3k
Hdbb , I see your BAW is doing good, ofsetting the GFI blow u been dealt this afternoon- down to R88, overall still R900 in the green
[Updated on: Thu, 11 March 2010 20:20]
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51234] |
Thu, 11 March 2010 20:27 |
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA |
Senior Member |
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Ok buying 300 Gold contracts @ $1,108,s/l $1,106 IM required R24.7k, Nett free avail Cash = R17,67k, total IM utilised R91.6k
Holding SIM, MTX and Gold currently
[Updated on: Thu, 11 March 2010 20:28]
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| Re: A fixed Rand portfolio vs the current Monthly competition [message #51276] |
Fri, 12 March 2010 13:30 |
CFD Trader
Messages: 570
Registered: January 2010
Location: Pretoria,ZA |
Senior Member |
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Updated sheet, overall portfolio now currently stands on R136.8k with SIM and MTX Trades still running
IM used - 66.9k (48.9%) <60% rule or max 80% (for Risk trading)
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Current Time: Fri Jul 30 17:50:39 SAST 2010
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