Thursday, May 7, 2009

Paper Trade 1 result

Trade: ASX200
Stakes: 1 cfd contract
Loss: 3867 - 3672 = 195 points = $195

So my first paper trade didn't go according to plan, as the short term rally seems to be legitimate, although I'm still wondering if the rally is an overshoot of sorts.

The key reports that came out this week, confidence reports, unemployment numbers - still on their low range, but the positive reaction is due to the fact they are all bottoming.

The next few weeks will show us whether this will be a bear market rally, a short term range bound trading situation, or the start of a new bull market.

I've just installed gft.com.au and the software looks much better than cmcmarketmaker, so I'll probably paper trade on this account until I have all my funds transfered.