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Contracts For Difference (Podcast Episode 70) - YouTube
Channel: No Nonsense Forex
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this is the Forex Q&A podcast this is VP
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professional Forex prop trader here in
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the United States answering your user
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submitted Forex training related
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questions every Monday morning now if
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you have a forex trading related
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question that is on your mind it's way
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too late to ask me what you need to do
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instead is check out some of the
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material on a no-nonsense Forex on
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YouTube and no-nonsense Forex calm /blog
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and see if it has been answered there if
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it has not go to the no-nonsense Forex
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discord forum link will be provided down
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below in the show notes and in the video
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description so let's lead off with a
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quick programming note yeah usually when
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I say there's gonna be a programming
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note it is not positive and I don't
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think this one's going to be either
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there will probably not be a new trading
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video this coming Thursday now there's a
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chance but a very small one life gets in
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the way sometimes and looking forward it
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just looks like all things considered
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I'm not going to be able to put together
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create edit and do all that in time to
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have something out on Thursday so what
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I'll do is just skip the trading video
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for this Thursday and then everything
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will resume again next Monday with the
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new episode of the podcast not ideal for
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me because I had everything mapped out
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of far as what the remaining videos were
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going to be for the year and hence the
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material but we are just going to have
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to adjust on a much better note though
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the first six people who have become
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professional funded traders either
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through their own money or through
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somebody else's money due to the things
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they have learned on no-nonsense Forex
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are now posted up on the testimonials
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page on no-nonsense Forex calm now if
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you haven't seen this page it is a page
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with a form you fill out after you have
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officially gone pro and obviously if
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this material had something to do with
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it more than six people filled out the
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form but a lot of them didn't fill it
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out the right way so it made me believe
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that these people didn't really know
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what
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they were filling out so forget for
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example and traders don't clown on these
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people because chances are English is
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not their first or even second language
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so I don't disparage them for this but
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for example there's a spot for your name
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and they put their name and there's a
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spot for your city and your country and
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they'd say something like South Africa
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and then there's another space that says
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okay who is the company who hired you
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and they would say South Africa
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so either the South African government
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hired them to trade Forex on their
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behalf or they really don't understand
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what they're doing and then the last
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part says you know how to no-nonsense
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Forex help you become a professional
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trader and their response would just be
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I love your channel so chances are they
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didn't really understand the process so
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those people didn't go up but the six
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legitimate ones have and there's
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probably going to be a lot more in a few
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months once those initial traders who
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first signed up for
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maverick trading and funded trader
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actually go through the trial period and
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finish and then get funded so that's
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gonna be really exciting that list is
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gonna grow quite a bit but I know
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there's some of you out there that have
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already turned pro and just haven't
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filled out the form yet so please do
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that and once you have you will be
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forever immortalized as the gods and
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goddesses you are it is the Forex Q&A
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podcast and episode 70 is not going to
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be like a really like super exciting
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episode to most people this is gonna be
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a lot more educational but in a very
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important way and I actually think this
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is incredibly exciting them I'd be
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surprised if you didn't think so too
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but because there's a lot of you guys
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know we're moving on to other markets
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metals and oil and we're gonna add a few
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other weapons to your arsenal very
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shortly and is absolutely in your best
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interest to understand what is at the
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very core of how we trade all of these
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other markets because I'm telling you it
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is a great time to be alive with the
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technology we have now that people who
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were just like us 20 30 years ago had no
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access to you really had to have
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of a good chunk of money already sitting
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around in order to trade or invest
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anything and it was very limiting some
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of the best trading talent out there
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never had a chance to even get off the
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ground so even now for example I bet you
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most people think if you want to get in
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there and trade the stock market and
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really make any kind of impact at all
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you have to start with like fifty
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thousand dollars and you know if you
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ever plan on trading more than one stock
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at a time now most people don't have
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that kind of money lying around but if
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they did for some reason then they get
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to trade stocks but then they have to
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deal with a lot of the restrictions that
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trading stocks gives you you know at
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least things that seem very restrictive
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to us as forex traders like your order
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might not get filled or it's really hard
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to short a stock and all the things that
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go along with capital gains taxes you
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know all that stuff but nowadays and
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really unbeknownst to so many people a
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lot of that stuff just doesn't apply
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anymore you can trade what almost
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anything nowadays and you don't have to
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have a lot of money to do it now if you
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have very little money should you still
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go and trade them anyway no you really
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shouldn't
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I mean episode 33 of the 4xq a podcast
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trading with a small account make sure
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you have heard that podcast before you
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start any of this but now trading things
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like stocks and indices and commodities
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are much more widely available thanks to
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a little thing the Australians invented
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called CFDs contracts for difference now
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what these are in a nutshell I mean you
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go super deep on these and if you guys
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want to learn more about them you really
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should I think but I'm gonna just kind
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of touch on the base level ideas of it
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but what you are more or less doing is
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just trading the price of something
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you're not trading the actual thing so
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for example you won't actually own stock
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in a particular company but through
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these contracts you're actually trading
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the price and then making money if price
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goes your way and then losing money if
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price goes against you and as I said
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before actually owning some of these
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things does have
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our backs to it for one you know when it
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comes to not getting your orders filled
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which is something that stock traders do
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struggle with every once in a while
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especially if they have a certain price
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they want to set a stop loss at if
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things go down fairly fast there might
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not be anybody there to buy your falling
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stock and while price running beyond our
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stop-loss really only happens on those
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rare flash crash moments or those really
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big gaps that you almost never see you
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know this can happen to an actual stock
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trader a lot more often because of their
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orders not getting filled to where we
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are very spoiled as forex traders we
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always get our orders filled when we
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want really for two reasons and is the
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same with CFDs one the market is so
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liquid there's always somebody out there
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to take the other side of your trade if
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you're dealing with an ECCN broker for
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example or you have a dealing desk
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broker that is just automatically
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required to take the other side of your
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trade and my trade and everybody else's
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trade that actually deals with that
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particular broker and CFDs are the same
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way they have to take the other side of
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your trade now I also did a podcast on
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this the dealing desk versus ECM broker
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I forgot what number it was but the main
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point of dealing desk is there's nothing
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to be afraid of dealing desk brokers are
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required to take the other side of
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everybody's trade no matter who it is
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whoever that trader is terrible or
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whether that trader is an amazing trader
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they are forced to take the other side
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of everybody's trade and this actually
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does create great opportunities to get
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your order filled every single time
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because they physically have to and this
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also means they are required to honor
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your stop-loss wherever you put it and
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they are required to honor your take
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profit points wherever you put it now as
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I just said things like large gaps and
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flash crashes and those rare occurrences
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may not apply but outside of things like
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that you can rest assured that your
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order is going to be accepted and like I
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was alluding to earlier as well you can
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short anything you want just as easy as
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you can go long the
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is phenomenal I mean for example let's
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say you were more of a long-term trader
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and the market finally does start to go
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into recession which it is bound to do
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at some point you're probably not going
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to want to take many long trades to her
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back in the day unless you were an
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options trader and then your trade was
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limited in to how far could actually go
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you really couldn't short an entire
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index or if you actually could it was
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very hard to do as much more of a
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process to where today you can just
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click a button and as soon as you put
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your numbers in after that
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voila you are in a short trade and last
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time the recession actually took place
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which was more than 11 years ago very
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few people even knew they could do this
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and even if they could there are very
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few brokers out there that would even
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have CFDs to offer but now anybody can
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take huge advantage of a recession I've
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already told you before how holding
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precious metals can do this want to
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profit off the recession but don't want
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to hold a bunch of precious metals fine
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now you can buy riding one of the big
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stocks all the way down by writing an
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entire index all the way down and it's
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things like this that make me believe
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that there's a real reason why the big
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recession has not happened yet even
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though it should have by now you guys
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know me I always think there are greater
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powers at play like greater human powers
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that are pulling the strings because no
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matter what happens and really
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especially in recessions the mega-rich
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become even more mega rich because I
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really do think there are
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decision-makers at the top that decide
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when these huge financial events
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actually start to take place and because
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they all follow the same pathology
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it's like Warren Buffett said when
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there's blood in the streets
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you buy now the opposite side of that
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would be when everybody out there is
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saying go long on the stock market
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that's exactly the point in time when
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it's going to crash and that is what
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happened in 2008 everybody wanted to go
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long the stock market back in 2008 don't
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believe me they made an entire movie
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about really the only five major players
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in the
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that knew a big recession was coming and
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I think out of those five a few of those
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had to be convinced now I'm sure there
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were other people out there talking
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about it but very very few to the point
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to where those five people were
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ridiculed the entire movie until the
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market actually started to fall and the
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movie for those who don't know or too
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young to know it was called the Big
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Short great movie by the way but since
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then social media has blown up so much
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you have so much more education out
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there now then you had back then
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especially on the financial side
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nowadays the people who are thinking the
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markets gonna crash anytime now are
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still in a pretty big minority but that
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minority is much much larger than it was
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back in 2008 you have entire podcasts
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hosted by people that are telling you
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the entire financial market is gonna
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come crashing down and highlighting
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every single reason why and the major
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financial networks out there are still
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trying to block it out the best they can
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but there's only so much they can do
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education has spread and many many more
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people now understand the warning signs
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understand all the things that happened
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before previous recessions and how a lot
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of those things are happening right now
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and even though there's not many of us
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it's still enough people to where we
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just haven't been able to get that great
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stock market euphoria out there that we
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need right before everything comes
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crashing down and not only that we are
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now armed with things like CFDs and a
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couple other things I'm going to talk
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about in later videos to help us come
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out huge winners when this recession
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finally does hit to date there have
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already been a number of downward fakes
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trying to get us to make a move too soon
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and if I was going to make a prediction
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I would say there's probably going to be
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a few more but the overall point no
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matter where you think the market is
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going to go is that no matter which way
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it goes now we can do something about it
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and we can trade it every single trading
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day thanks to CFDs
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now Americans I know we don't
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access to this like I said before find
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away I'm not sure how much time you have
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left until things really start to fall
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in the stock market but when the time
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does come you are going to want to take
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advantage of these because this really
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opens up the game to everybody
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regardless of income level so those of
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you out there who are from a place to
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where you just don't make any money in
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the grand scheme of things if you have a
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laptop and you can trade you can still
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become very good at this and then be
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able to shop yourself out there to
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people who might be really interested in
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somebody who is really really good at
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trading oil for example or really good
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at trading the Nifty which is india's
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stock market index so many different
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ways to trade so many different things
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that the generations before us did not
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have so many ways for you to become an
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expert in a sea of bullshit-ass experts
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and so many different ways for you to
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become an actual professional trading
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actual large sums of money just like the
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initial six people who filled out the
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form over at no-nonsense forex.com slash
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testimonials they are only the beginning
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that list is going to grow and grow and
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grow especially because now you can do
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more than just Forex you can go out
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there and now dominate any market you
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want and I'm gonna do my best to show
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you how so let's everybody give a
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collective thank you to the country of
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Australia for giving us CFDs and credit
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house let's give a big THANK YOU to Al
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Gore for inventing the Internet and
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let's just embrace the modern day we
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have nothing to complain about there are
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more ways to make money and make a great
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living than there have ever been in
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recorded history
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like by far but the spoils of this war
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just as they always have go to the ones
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that actually stand up and take it might
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as well be you so go get it
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