Articles of Interest

WebIRESS is one of the most commonly used CFD and Share trading platforms in Australia, being adopted by some of the country's largest online brokers and leading CFD providers. In recent times webIRESS has undergone a makeover, with the latest version webIRESS Plus recently being launched.

WebIRESS Plus offers day traders and scalpers a number of significant advantages over it's predecessor, with the most noticeable being the speed of order execution, additional advanced order types and visual improvements. The significant improvements of webIRESS Plus make it the ideal CFD trading platform for day traders and scalpers looking to take advantage of rapid CFD price movements in the opening and closing phases of the market and during market volatility.

WebIRESS Plus is fast becoming the most popular CFD trading platform in the market due to the significant edge traders are able to gain as a result of the platforms dramatic speed improvement. In addition to the speed improvements in webIRESS Plus, there are now also a number of new order varieties including if-done orders, meaning CFD traders now have more control over their trades with the ability to set and forget orders.

Despite the significant advantages webIRESS Plus offers day traders and scalpers it is important to note that the speed advantages of webIRESS Plus are dependent on the internet connection being used. As an active trader it is always advisable to ensure that you have the fastest and most reliable internet connection possible, this may mean having an ADSL2 or cable broadband connection. Most active traders will always have two internet connections to ensure redundancy should one connection fail.

Active day traders often use the webIRESS Plus platform alongside an advanced charting package or market scanning tool. One of the more common and readily available charting packages is MetaStock another lesser known package is Spark. Spark is popular with more active day traders who monitor many CFDs at the same time and require detailed real-time information relating to price and volume changes which when combined with chart formations allow them to identify trading opportunities such as price and volume breakouts.

Of course a great trading platform, charting package and internet connection alone will not make anyone a successful trader. These are simply tools that will give you the edge over other traders in the market. The most important components of trading are information flow and discipline which when combined with a proper trading plan and tools will help you on your way to becoming a successful trader.

Currently webIRESS Plus is only available from IC Markets. You can download a webIRESS demo to see whether the platform suits your needs.

Incorporating a proper risk management plan into you CFD trading strategy is the single most important aspect of CFD trading. Risk management involves determining the amount of money that you wish to allocate to each trade to ensure that you are able to continue trading should you sustain a loss on the position.
 
Trading CFDs without a proper risk management strategy can expose you to unnecessary risk. For example, if you allocate a large portion of your trading capital to a trade without a proper risk management strategy, you put all of your trading capital at risk meaning that if you sustain a loss you will no longer be in a position to trade. Losing your entire capital base can force you out of the market and you will not even have the opportunity to recoup your losses.
 
The most common form of risk management is position sizing this is also known as the fixed dollar trade size model. In this example an equal amount of capital is used for each trade.

For example, if you have $100,000 to invest, you need to figure out how much to put into the trade. To figure this out you would simply divide $100,000 by the price of the CFD. If the last traded price of the CFD was $8.50 you would divide this by $100,000 to determine the amount of CFDs you can buy, in this case the number would be 11,764. 

In order to determine the amount of risk involved in the trade you will have to work out how much you can afford to lose if the CFD moves against you and set your stop loss at this point. This is also known as the stop loss distance, which is the distance between the entry and stop loss price.

For example, if your stop loss is $8.00 and entry price was $8.50, this means that your stop loss distance would be $0.50. If you have 10,000 CFDs your risk would be 10,000 multiplied by $0.50 or $5,000. In this case your risk would be $5000, which equates to the amount that you could lose should the trade move against you and you get stopped out. 

It is also important to factor in the cost of commission and any financing charges that you may have been incurred from holding the position overnight.

In the fixed dollar trade size model the number of CFDs that that you buy and sell each time will not always be the same, this is because the stop loss size will vary depending on the risk appetite that you have on the trade.

Another form of risk management is compounding, this means that as your account balance increases, you are able to open larger positions.

For example, if you have a starting balance of $100,000 and you have determined that you can afford to have 10 trades open at any given time. As your account balance grows, you will be able to take on larger trades. This strategy can be used up to a point when your drawdown gets too big for your liking and risk appetite.

It is also important to note that if you are trading a CFD that has liquidity issues, you may get to a point where your trade sizes are too large.

To understand more about CFD trading and how you can manage your risk you can download our free CFD Guide.

There are many good CFD brokers in Australia, their active marketing and promotions make it difficult to chose, some have advantages over the others but more often than not it is their fancy marketing makes you confident in your choice of provider.

When you sweep away all of the fog and evaluate each of the best CFD brokers on a few key metrics you will soon discover which provider genuinely suits your trading needs.

There are as few key metrics that you should judge your CFD broker on, these are:

• DMA or Market Made
• Web based or Downloadable trading platform
• Product Range

DMA or Market Made
It is important to ensure that you understand the differences between DMA and Market Made CFDs and the pro’s and con’s of each. DMA CFDs offer a few advantages in that they allow you to trade the opening and close phase of the market in addition to allowing you to participate in the market depth. DMA CFD are popular with scalpers and day traders but are not so popular with traders needing exposure to indices or currencies and wanting to place guaranteed stop loss orders, this is where Market Made CFDs have significant advantages over their DMA cousins.

Web Based or Downloadable trading platform
It can be quite confusing when choosing a CFD brokers platform as each platform has benefits and drawbacks. It is important to consider where you will be trading from as this will decide whether you use a web based or downloadable platform. If you intend to trade from work it would be better to choose a web based trading platform for the simple reason that web based platforms do not require a download, this means that they cannot be blocked by the firewall in an office, however, web based platforms come with some downside also in that they tend to lack much of the advanced charting functionality of downloadable platforms. Downloadable platforms a more suitable for home use as they offer significantly more advanced charts and order types in addition to added features such as back testing and customisable multi screen layouts. Professional day-traders and scalpers often prefer using downloadable platforms whereas casual traders tend to choose web based platforms.   

Product Range
It is important that when choosing the best CFD broker for your needs you should assess the products that they offer to ensure that can provide a range of CFDs that suit your trading plan. Some CFD brokers only offer CFDs on Australian Shares however others offer CFDs over stocks, indices and forex. If your trading plan covers all of these products you should be sure to choose a provider that does not restrict you to Australian share CFDs only.

Of course when choosing the best CFD broker for your trading needs you will need to asses all of the metrics above and make your determination based on your trading strategy. It is also advisable to download a few demo trading platforms available in the market, this will help you better understand whether the platform is suitable for your needs and trading style.

To understand CFDs in more detail and to learn how to develop a trading plan you can download our free CFD Guide.

Before you start trading Contracts for difference it is important to obtain a few tips from the professionals to make sure that you do not make many of the costly mistakes that newbie traders make. Below are three trading pointers which will help you in your CFD trading success.

1. Manage your Positions
Repeatedly new traders spend a significant amount of time selecting, planning and executing new positions, however they regularly make the mistake of exiting these trades with much less thought. This is unfortunate as it is the exit which will determine whether a trade has been profitable or not.

It is human nature to take profits hastily while the concern of incurring a loss will see the same trader leaving poorly performing positions open in the hope that prices will move in the correct direction and reduce losses or even turn them into profitable trades.

Numerous new traders forget about the old saying “Let your profits run and cut your losses short”. As the proverb states if you have a profitable position, it is best to allow that trade to realize its full potential, as opposed to closing it out at the very first sign of a small return. On the other hand, if you happen to hold a position that is moving against you, it is best to move quickly to exit that position, before the loss becomes too great.

If you're managing your trades properly, your average winning trade should be significantly larger than your average losing trade. Once you have the discipline to buy and sell in this way, you should be able to achieve overall profitability even when only half of your trades are winners. A lot of traders make the mistake of not closing poorly performing positions fast enough. One tool that makes this less complicated is a stop-loss order.

After you have determined a price level that corresponds with the amount of risk that you are prepared to take on a particular trade, a stop-loss order can be placed at this level to automatically close out the trade. This removes the human aspect from the exit, reducing the risk that the emotion of hope will interfere with rational decision making.

It is important to understand that a stop-loss order simply provides a trigger point for the execution of an order. If a sell stop has been placed on a long position, the stop-loss will be activated if the price trades at or beneath the nominated stop level. Occasionally, this may lead to trades being executed a price that is less favorable than the nominated stop-loss price. This is known as slippage.

2. Understand the instrument that you're trading
Being over-the-counter products, there are various differences in the contract specifications of CFDs. If you are thinking of trading these products, it is critical to know what these specifications are.

You must also be aware of the influence that foreign exchange fluctuations might have on your holdings. If the base currency of the CFD rises against the base currency of your account your profits could be eroded by any currency fluctuation or your losses might be made worse.

Most CFD traders trade CFDs based on stocks listed in their home country. The simple reason for this is that traders are more comfortable trading CFDs that they're familiar with. Most traders also benefit from the convenience of trading their home market as it isn't practical to sit up for half the night to trade a Contract for difference over a share listed on an exchange in another part of the world?

In lots of cases it is much better to stick with CFDs based on equities listed on exchanges that you're familiar with as opposed to trading Contracts for difference based on stocks listed on markets you don't fully understand.

3. Use the correct order types
You should treat trading as a serious business. As such, you must take some time to make sure that you thoroughly understand the tools of your business. Many CFD traders miss chances or have been stopped up out of trades at the wrong time just because they placed the wrong kind of order.
                   
At the very least, be certain to become familiar with the following order types:

Market order: This kind of order is utilized to execute a trade at the present market price.

Stop-order: This order type is utilized to exit a trade at a specific price. Stop-orders are placed at a level that's worse than prices presently available in the market. On a long position, the stop-loss order to sell would be located below the present market price. Conversely, on a short position, the stop-loss order to buy would be placed at a level greater than present market prices.

Limit order: A limit order is used to exit a trade. Limit orders are placed at a level that is better than the present market price. When seeking to lock-in profits on an open long position, a limit order to sell would be placed at a level greater than current market prices. If seeking to lock-in profits on a short position, a limit order to buy would be placed at a level underneath current market prices.

You must always understand that as Contracts for difference are leveraged and that buying and selling them can be risky. However if used correctly Contracts for difference will become a valuable tool within your trading arsenal.

To find out more about CFDs you can download our complimentary CFD Guide.

Day trading contracts for difference (CFDs), stocks or indices, has become popular in recent times. The popularity of day trading has been largely due to numerous advertisements for money making systems, seminars and educational courses that guarantee overnight success. Many of these courses also profess to be low risk and require only a small capital outlay. The truth is, trading is hard work, the more time you devote developing a successful trading plan the more likely it is that you will succeed, however you should be aware that success will not come overnight or without losses.

Once you have put in the time and effort to formulate a trading strategy only then should you consider becoming a professional day trader. Day trading offers many lifestyle benefits including the ability to be your own boss, you no longer need to go into work and take orders from your boss. However, you should not take this freedom for granted, trading should be treated as a business and you must be discipline in order to succeed. If you do not apply discipline to your trading you should not consider trading as a career.

There are significant lifestyle benefits that come with day trading, being you own boss allows you to chose your working hours and even your office, you can work from home or whilst on holidays. Getting into day trading requires little capital outlay as all a Day trader needs is a trading account, computer and internet access. Before you run out and buy yourself a new computer remember that you should also have sufficient funds in your trading account, a common mistake day traders make is that they are undercapitalized when they first start. You should start with at least $20,000 - $30,000 this will allow you to develop and refine your trading strategy and allow you to recover from mistakes. 

The time you spend analyzing and watching the markets will depend the trading strategy that you adopt. Day trading and scalping requires constant monitoring of the market as day traders look to profit from small price movements, whilst swing trading requires that trades be held open for 2-3 days, meaning that you do not need to spend as much time in front of the computer.

Although trading professionally from home allows you to choose your own working hours, it is very important to be aware of key times during the day, in the stock market these are the opening and closing phases of the market, in Australia this is 10am and 4pm. You should also be aware of major overseas market movements and how they affect the local market that you are trading and specific announcements relating to the company’s that you are trading.

Do not believe the promises of guaranteed returns develop and back test your own trading strategies that suit your lifestyle and the time you have to spend on your trading. Trade your strategy and refine it as required, remember you will make mistakes but don’t be disillusioned this is common, simply understand where you went wrong and refine your strategy. Once you have developed a strategy that works for you and suits your lifestyle you will be rewarded with the advantages that being a day trader has.

There are a number of CFD providers that can assist you in getting started, but be sure to choose a CFD provider that is able to offer you a reliable trading platform.

To learn more about trading CFDs from home for a living you should read our free CFD Guide.

The first thing to remember is that trading is not a level playing field. Professional traders have a lot of advantages over the private trader. Despite the accessibility and availability of CFDs to retail investors nowadays, in general, the pros still win more often than the non-pro traders. Why?

The pros have:
Better access and information flow – fund managers and institutional players spend significant amount of money to access market information. Most of these institutions are backed by large teams of researchers and analysts who constantly monitor the market. Professionals will almost certainly have a lot more information at their fingertips (or at the end of a telephone) than private traders. They will know a lot of people in the market and can formulate views by speaking to others.

Work as part of a team – institutional players usually have researchers, analysts and other market specialists that work as a team to maximise profitability. The typical private trader is just that – a single person. There is nothing wrong with that of course, but a private trader has to do everything from making the tea to executing the trades. Often working in a team can help professional traders – much of the work can be delegated.

Huge amounts of capital – This is of course the single biggest advantage that a professional has. Often the money is not their own and that can make trading easier on occasions. Due to the nature of their business, fund managers and other institutional traders have easy access to millions of dollars of external capital not available to retail traders.

While institutional traders and fund managers have inherent advantages over retail traders, there are ways to level the playing field. If you are to treat CFD trading as a business (as you should), you must ensure that:

You have enough capital – There’s a well-known saying among traders that goes: “Don’t trade with money you cannot afford to lose.” Sometimes this is called ‘scared money’. If you are to trade (CFDs or any other instrument), make sure that you have enough capital and that you are not trading with money you are not prepared to lose.

You get real time charts and other tools – Access to information is vital in trading. You have to know what is happening in the market particularly if there’s a lot of volatility that may provide profitable trading opportunities. You have to know the exact price movements to be able to trade the trend. End-of-day data download will be useless if you’re trying to catch intra-day price movements.

You have the fastest Internet access you can afford – Broadband access has never been more affordable, so take advantage of this technology to enhance your trading.

You pay lower/lowest commission – Commission is a business expense and must be kept to the minimum. Even large institutional traders seek ways to pay the lowest available commissions.

You have a fast computer – Prices of computers have gone down considerably and you only need to spend a few hundred dollars to have a fast computer with enough power and storage capacity. Invest in a reliable computer and do not let technology get in the way of your trading profitability.

You use a professional research service – While you could have an information overload given the amount of information readily available on the Internet and other sources, it is wise to use a reliable research or newsletter service that may provide some guidance on specific trades or markets. Use these research services as a starting point to do your own research.

You can find out more about how to trade CFDs in our free CFD Guide

DMA CFD day traders constantly look for short term trades to take advantage of small market movements on the other hand investors look for medium to long term value. All traders and investors need a strategy even the best day traders and fund managers, here we will examine some of the principles adopted by the best of them.

A DMA CFD trade can last anything from half an hour for short term intraday scalping or even up to four or seven days. You must never let a short term CFD trade to turn into a long term position if it goes against you. You must stick to your original trade parameters. If you don’t, your losses will start to accumulate and you run the risk of wiping out your account. If you have chosen to open a DMA CFD position that you want to run for several days the same rule applies. Don’t let it become an investment that sits on the back burner hoping it will come good.

You should only be holding DMA CFD positions overnight if you are confident in your view, not because you can’t bring yourself to take a loss. This is one of the most common mistakes made by novice traders. As the market close approaches and their positions start moving against them, a lot of traders refuse to accept that their trades were wrong. This leads to unnecessary risk taking and generally ruins the next day’s trading.

When the market starts to turn or go into consolidation phase, good day traders can take long and short positions several times during the trading day. This is only possible if you are flexible and are not looking for big price swings, you must also be prepared to take small loses and move on to the next trade.

The essence of day trading is flexibility. You must be able to bend with the market. Do not take it on. As soon as you have a strong fixed view on where a given price of the CFD is heading you must put stops in place as this is where you can suffer the biggest losses because when the market moves against you all you want to do is increase the size of your position.

On the longer slightly longer term DMA CFD trades i.e. one to seven day duration, you must be looking for at least a profit of 1% and ideally up to 5% to justify your risk exposure. This does not mean you should run a 5% stop loss. If at any point the trade looks incorrect close it out and look for more favourable conditions to re-enter.

Stop loss orders are absolutely vital to your capital survival and your ability to keep day trading. They should be viewed as an insurance policy. Stop losses have been vastly under utilised by DMA CFD traders in the past who were always worried about being stopped only to see their trades go the right direction later on. This will happen, but you must be able to deal with the frustration and move on to the next opportunity. If you don’t, you have adopted an incorrect trading style and will find yourself at the market’s whim.

Trading versus Investing
The difference between trading and investing is the time horizon and expectations. Investing is a long term game that involves committing your money to the market looking for positive capital growth and/or income. Investors look to put their money into the markets for a minimum of at least 10 years. Investors should not look at their CFD portfolio on a day to day basis as this will only affect their overall view of the market as the inevitable large swings would unnerve them.

Warren Buffett said you should not buy a stock if you are concerned it may drop in value by 50 per cent. This is an extreme view, but Buffett is one of the world’s richest men and most successful investors.

One of the problems with long term investing in CFDs is money management and where to put your stop losses. An intraday move could go below your perceived level of an acceptable drawdown, but you have to remember that you are investing for the long term. It requires immense patience to be a long term investor and this style only suits certain people. This why there are many fund managers who look after the money of people who do not have the time or the ability to get involved in the financial markets. Long term investing should be used as part of an overall strategy.

Risk
Risk is always present in the markets. Your trading strategy must address risk management. How much of your capital do you want to risk at any given time?

You must always be looking to reduce risk and this can be done by using stop loss orders. This is particularly important if you are going to use DMA CFDs with low margin requirements where the leverage can be high. You should also ensure that your portfolio is well diversifies and includes DMA CFDs from different industry sectors, this will ensure that you are not solely exposed to the price movement of one CFD.

CFDs can be enormously rewarding if you adopt strict trading rules and are disciplined. Before trading CFDs on-line you should ensure that you read our free CFD Guide.

There are many diverse CFD trading strategies and styles and it is up to you the CFD trader to decide which style suits your personality and the time you have available in your day for CFD trading.
 
Intra Day
If you are looking to be an active CFD trader you would generally use an intra-day trading style. This is where you look to take advantage of the swings in the market during the opening and closing phases. You need to have a good CFD trading system that can react to quick moves during market swings.
 
One example of a good intra-day trading style could be the following. At the close of the Australian market, the FTSE and other European markets are about to open. You have the advantage of having longer time to study the support/resistance levels and the possible reactions to the previous night’s trading in the US and any moves that have occurred in the Far East markets. You should be looking to trade this market in the first two hours when there is high liquidity and close out your CFD position unless you wish to carry it overnight. But only do so if your system agrees, not because you do not want to close out a losing trade.
 
You can trade the last one to two hours of the US market during early Australian time. The US markets provide good liquidity and the opportunity to take overnight positions.
 
For first time CFD day-traders, this is a good way to gain exposure to new markets. The US and European markets offer good risk/reward returns in highly liquid CFDs over shares and indices.

End of Day
End-of-day trades are executed at or near the close when it becomes clear where the price is going to ‘settle’ or close. This enables you to study the price action relative to previous day’s movements and then decide how the price is going to move in the near future based on the price action and indicators you are using in your CFD trading system. You then create a set of orders: an entry level, a stop level and a potential exit level. You can then either put these orders into the market via your online trading platform or by phoning your broker.
 
This style of CFD trading frees you up to do other things. It should not need your constant checking of the market to see if things are going in your direction. It is tempting to keep checking how your trade is progressing, which could be a drawback as it could ‘spook’ you out of a CFD trade because you are watching it too closely and you get unnerved.

The idea is to do your research and be confident in your trade. You know you might lose, but your stop is there to protect any damage to your capital. Let the market do the work and let it determine if the CFD trade is a correct one.

Trend Trading
Trend trading is when you are attempting to define the trend and only enter into CFD trades in the direction of the trend, the line of least resistance. The “trend is your friend” is one of the truest sayings in the markets. Following the trend is different from being ‘bullish or bearish’ where you have a fixed view of where the market should go and in which direction. Following the trend means you have to have a good system to detect and follow the trend.

You have to be flexible because the trend can obviously change and you have to be aware of a potential reversal in the market.
 
There are a lot of trend following funds in the market that trade many different products including CFDs, equities, treasuries, currencies and commodities. You will need to exercise your patience as ‘riding the trend’ is easier said than done. You need to have confidence in your CFD trading system. You will also have to accept losses and getting ‘chopped’ occasionally in your CFD trading. Remember that no system works all the time, and patience is needed.
 
You need to be alert for signs that the trend is ending or about to change. You will also need to be aware that the last part of the trend can accelerate as traders with the wrong CFD positions look to exit their losses at the point of maximum pain.

You must decide what timeframe you are going to follow the trend on and stick to it. It will be of no use if you keep flicking between charts hunting for the trend or once your CFD trade is on to look for confirmation that the trade is correct by finding a chart that agrees with your position.

It is a good idea to scale in and out of your CFD positions as this gives a greater degree of control and will probably give you more confidence in the trade as you will not be fixed at one price.
 
Swing Trading
The term ‘swing trading’ refers to playing both sides of the markets moves - long and short - by taking advantage of the market’s oscillations during your chosen timeframe as the price ‘swings’ from overbought to oversold on your system.
 
The duration of your CFD trades can and will vary. You must check the price action and support and resistance levels as it is most likely the market will oscillate between these levels as it tries to find the next directional move. Intra-day CFD trades will last from half an hour in fast markets to two or three hours depending on the characteristics of your market.

If you are taking overnight positions then you could find these ‘swings’ can last from two to three days and more.

It is a relatively simple way to trade CFDs and offers good risk/reward as long as you stick to your numbers and follow your strategy through without breaking your rules. It will allow you to play long and short trades, but you must be flexible and realise when it is not working and again exit quickly because it is likely a new move or trend is starting.
 
News Trading
If you intend to trade CFDs on news announcements you must understand that this is a very specialised and tricky game.

Remember that news travels very fast these days via internet and TV. You need to assess the news very quickly to judge how to trade the CFD around it. Is the news already fully factored into the price or only partially or is it fresh news that the market was not expecting? These are some of the decisions you will need to face.

Try not to jump into the action straight away unless you have a pre-determined strategy on a given bit of news.

Try to gauge the market’s reaction to the news as this is far more important than the news itself. Most CFD traders will tell you this is how they like to react to news, but we cannot all act the same way.

News can also give you an exit to a current trade. Take the exit as a good trade and look for your next trade, don’t be greedy and think it is the start of a bigger move.

If you have seen some news hit the screen and you have taken a CFD position in the market on the back of it, watch out for a sudden reversal if the expected move does not arise. It is most likely you are in company with the rest of the market with your view, and when this happens try and be among the first to exit, not the last as these moves can be fast and expensive as you wonder why the market is going against the news.

Be aware of how markets operate, they need energy to move and this energy comes from information flow. The news you are expecting or reading had to originate from somewhere and be aware that frequently the news would already be in the price as the markets and traders try to pre-guess the announcement and the markets reaction to it. “Better to travel, than to arrive” is another market motto, meaning it is better to be on the price action before an announcement than to wait for the announcement.

Zone Trading
Zone trading requires good research to define zones of important support and resistance.  It is in these areas that you are looking to enter your CFD trades. You will also need to know where your exit point is if the CFD trade is incorrect. Once you are confident in your ability and system to find these zones you can trade bigger positions at these levels as you are playing ‘pure’ price action and not relying on indicators.

This style can be used on all time frames and with total money management.  It requires patience and discipline about other systems for the market to reach your chosen levels to trade. It has the advantage over ‘indicator’ trading in that it does not require you to be ‘attached’ to a screen as you have pre-determined levels to trade at.

It is essential that you have stops in place as you are adopting a ‘view’ in your market that the price of the CFD should react away from your level once reached and this can leave you without flexibility.

Expert Tips
You must have a ‘high probability’ system to make profits. You must also have a good idea and grasp of money management as this will save you when you have some losing CFD trades. You can either buy a system that has been designed and is used by professional CFD traders, but check it is real and not one being offered by ‘snake-oil’ salesmen. It is an easy arena to prey on people and do not believe all the ‘$500 into $5000 on one trade’ systems on the internet.

Another important factor to consider when you are choosing a CFD trading system: does it have back up and follow up tuition? It takes time to learn all the nuances of any system and if you can ask questions this will be a very big plus.

An alternative is to try and design one yourself. The advantage of this is it will be fully suitable to your needs and you will understand its workings.

The disadvantage of this is that you may spend far too long developing something. Forget looking for the ‘Holy Grail’. It can be fun to look for it, but again it is distracting and why would anyone be selling something that was in effect a guaranteed money making machine. It can also be costly as you purchase various systems in the hunt for the Grail. It would be much better to understand that is does not and cannot exist.
 
The best option is to buy a CFD trading system that suits you and your chosen strategy for trading, i.e. day trading or end of day positions.

Learn the CFD trading system by constantly putting it to the test and understand its strengths and more importantly its weaknesses. Make sure it does suit you and the time it allows you to study the prices.

To learn more about the many different CFD trading styles you can download our free CFD Guide.