Wale watu wa Trading...How (not) to trade CFD (Contract for Difference) Derivatives

Google says “CFDs allow traders to trade in the price movement of securities and derivatives. Derivatives are financial investments that are derived from an underlying asset. Essentially, CFDs are used by investors to make price bets as to whether the price of the underlying asset or security will rise or fall.” Basically I have been “betting” that a stock/commodity will rise or fall. I bet mostly on currencies, oil and gas and a few stocks eg Silver gate etc.
I have been experimenting with trading in a few months, using leverage, and I have a few learnings.
[ol]
[li]Don’t trade derivates if you don’t understand. You will lose money very quickly and painfully. I have been margin-called more than once.[/li][li]Be patient (sometime). I have had to sell off trades due to greed netting say 10 pounds instead of 100 pounds.[/li][li]Honestly it’s all a gamble, I don’t think any research goes into it. I have been following several pages on Twitter etc to get a egde of the news that can affect commodities but I am yet to find a winning strategy. I am net negative a couple of pounds after two months which actually ain’t bad since I was experimenting. I paused to restrategize.[/li][/ol]
Is there anyone who has been successful in this?

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If you trade CFDs you have an IQ of 80 or less

Njaruo tulia

Bonobo reasoning. This is a blanket statement. Some people make serious money trading such instruments.

The only reason I don’t trade derivatives is because I’m not smart enough to understand them. My understanding is very basic so I don’t have an edge there. The spot market is my bread and butter. No shenanigans and fancy math. It’s just the price plus fees.

Pia commodity Iko na pesa in futures. Very large market.

Which people? Those “experts” selling courses on YouTube? CFDs are so riddled with commissions that they practically force you to buy and sell within a few weeks or risk losses through commissions. And the commissions are higher the safer the underlying asset is. Go to etoro.com and check what the commissions would be if you buy and hold some S&P 500 index. What does that tell you? It is obvious that the interests of the buyer and the vendor are not aligned. They are simply trying to take your money, like a casino

I trade cfds commission free…ama sielewi hizi ramblings zako

On which platform?