ࡱ> 1( D/ 0|DTimes New Roman0B 0DArialNew Roman0B 0 DWingdingsRoman0B 00DWingdings 3man0B 0@DWingdings 2man0B 0@ .  @n?" dd@  @@`` 7t K !#& ''   % %&    0e0e A@A18c8c     ?1d0u0@Ty2 NP'p<'p@A)BCD|E?@8ʚ;Sk8ʚ;g4NdNd B 0ppp@  <4!d!dLhG 0<4ddddLhG 0<4BdBdLhG 0H0___PPT10 pp___PPT9$ ? %What is a CFD? An agreement: between two parties to exchange, at the close of the contract, the difference between the opening and closing price of the contract multiplied by the number of shares specified with the contract. Parties in a CFD transactionThere are always two parties: The LONG party An investor who opens a position by BUYING a CFD The SHORT party An investor who opens a contract by SELLING a CFD  " 5 " D " # 5 4 Why CFDs v. Physical Shares?Margin Flexibility (CFDs are traded on margin) You can take positions in the market 5 times greater value than your normal cash trade, or & You can trade your normal size and deposit only 20% of the value as initial marginJ/ " Z " Z Why CFDs v. Physical Shares? No stamp duty As you are not buying physical shares, you are not liable for stamp duty (under current UK legislation) = save % per trade N " ~ "  ~  What stocks can I trade? DCFDs can be traded on all stocks with a market capitalisation above: UK = 50 million market cap European = 100 million market cap US = $1 billion market cap nFZ\ " ZZF  How do CFDs work?   Dividends EDividends still apply even though you do not take physical delivery *E( " F How does Margin work?  Costs3Commission Every trade accrues a commission chargeD " ) ( CFD Trading RulesTrade with money you can afford to lose Do NOT over leverage Risk Management  make sure trades are at least 2:1 in your favour Use STOP LOSSES  limit your downside, only moving a stop loss to REDUCE risk Know your entry AND exit levels before executing a trade DISCIPLINE  develop out a system that works for you and stick to it4LP " Z2+  ` f3f3` ff̙` ___` ff` 3ff3f>?" dd@,?lPd@   Z l<@ d`"  n?" dd@   @@``PR    @ ` ` p>>  L(  L^T y L "yZ L S B7 C DEHFPv @?q 6 6 n(dx  G b q %(@"B y2 L ZG1?" L Tgֳgֳ ?"P  X Click to edit Master title style!!  L Tgֳgֳ ?"``  \*B  L Tgֳgֳ ?"`   V*B   L Tԧgֳgֳ ?"`   V*B  (  L 04 "  RClick to edit Master text styles Second level Third level Fourth level Fifth level!    S ` L Hd޽h? ?L f3f3 Phillip?    PO(  PT t P "tZ P S BsC5 DEHFPv @?3 r4 rv$[I_l3HxF 3 %(@" 2 P 3 CRENGCJRQ1? `TO`TR`TO`TRR`TRR"t P T̩gֳgֳ ?"/O  X Click to edit Master title style!!  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B  s *޽h ? ̙33  0$(  r  S 0rLP   r  S s L  H  0޽h ? f3f3  @$(  r  S LuL   r  S D| L  H  0޽h ? f3f3A  ZK0 4,P(  f  0"`~  s *LP     c $B Lk&   "lXDJP  0 S ZRJ___PPT9,$ @Long or short BUY stock (go LONG), or & SELL stock (go SHORT) depending on your market sentimentN " 0 " # "  SlXDJPH  0޽h ? ̙33___PPT10u..y:+D=' = @B +  `$(  r  S ؈L   r  S  L  H  0޽h ? f3f3  p$(  r  S LP   r  S Ԑ L  H  0޽h ? f3f3CX ZK0  $%(  f  0"`~  s *GLP     0 q] D<4___PPT9 KNormal Share Trading: " F ]9   ]9 TB  c $D ] TB  c $Dm9mqz  /@  / @,$D 0   0  / @D<4___PPT9 ;BUY "    0R /@D<4___PPT9 <SELL "   0H~ , p$ 0<4___PPT9 E 10,000 shares "   0 p$ 0<4___PPT9 E 10,000 shares " B  00 p$  0<4___PPT9 j"f 10,000 shares, " @  0 J p$ 0<4___PPT9 h 10,000 shares g, " z q 9   q9,$D  0  0 q ] D<4___PPT9 HCFD Share Trading: " N ]9    9TB  c $D ] TB  c $Dm9mqz  /@    ,$D  0  0  / @D<4___PPT9 ;BUY "   0  /@D<4___PPT9 <SELL "   0, V , f p$ 0<4___PPT9 E 10,000 shares "   0 ,p$ 0<4___PPT9 E 10,000 shares " B  s *Do ] s ,$D  0B  N?Do?"0?@NNN?N ] s ,$D   0B  N?Do?"0?@NNN?N Ts ,$D  0B  N?Do?"0?@NNN?N Ts ,$D  0  0̣ p$ 0<4___PPT9 @ OPEN TRADE "    0 [p$ 0<4___PPT9 A CLOSE TRADE "    0Ъ U f p$ 0<4___PPT9 @ OPEN TRADE "    0 9,p$ 0<4___PPT9 C OR OPEN TRADE " Z ! 0 p$ 0<4___PPT9 J& open trade on buy side or sell side& " &sz  /@ "  z ) ,$D 0 # 0䶈  / @D<4___PPT9 <LONG "  $ 0Ժ /@D<4___PPT9 =SHORT " H  0޽h ? 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f3f3# ZK0 N(  f  0"`~  s * L   z T9  T9@,$D 0  0( 9D<4___PPT9 LAccount value 100,000 "   0 T D<4___PPT9 =Stage 1 " z T?}  T,$D 0/  0 ?}D<4___PPT9 {COpen a 50,000 trade (requires 10,000 as a 20% good-faith deposit)D " D   0 T? }D<4___PPT9 =Stage 2 " z T^    T ,$D 0   0 T^ D<4___PPT9 =Stage 3 "    0 _M D<4___PPT9 FLeft to trade: "    0\  o D<4___PPT9 =90,000 "   0  _D<4___PPT9 FInitial Margin "   0  oD D<4___PPT9 =10,000 "   0 _D<4___PPT9 HVariation Margin "   0 6o D<4___PPT9 R profit/ loss real-time( " z Tb 6    T6 ,$D 0  0  Tb  D<4___PPT9 =Stage 4 " |  H$? ?"6?@`NNN?Nb 6 D<4___PPT9 r:Close position - Profit/ loss returned with initial margin; " ;K  0)  p$ 0<4___PPT9 s= 90,000 + 10,000 Initial Margin +/- profit/ loss > " >H  0޽h ? ̙33VN___PPT10..8_+* ~D' = @B D' = @BA?%,( < +O%,( < +D' =%(%(D' =%(D3' =4@BB BB%(D' =1:Bvisible*o3>+B#style.visibility<*%(D' =-o6Bdissolve*<3<*D' =%(D' =%(D3' =4@BB BB%(D' =1:Bvisible*o3>+B#style.visibility<*%(D' =-o6Bdissolve*<3<*D' =%(D' =%(D3' =4@BB BB%(D' =1:Bvisible*o3>+B#style.visibility<* %(D' =-o6Bdissolve*<3<* D' =%(D' =%(D3' =4@BB BB%(D' =1:Bvisible*o3>+B#style.visibility<*%(D' =-o6Bdissolve*<3<*D' =%(D' =%(D@' =A@BB BB0B%(D' =1:Bvisible*o3>+B#style.visibility<*%(D' =-o6Bdissolve*<3<*+8+0+ +a ZK0 `X(  f  0"`~  s *:LP     <D  Lkp  "lXDJP  0F  f^V___PPT980 HInterest As your broker is funding 80% of the contract value, you pay or receive a minimal interest charge Long positions  you pay a spread over LIBOR on the 80% Short positions  you receive a spread under LIBID on the 80%T " c vcvlXDJPH  0޽h ? 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Parties in a CFD transactionWhy CFDs v. Physical Shares?Why CFDs v. Physical Shares?  What stocks can I trade? How do CFDs work? Dividends How does Margin work?CostsCFD Trading Rules  Fonts UsedDesign Template Slide Titles _GuidoGuido  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnoqrstuvwxyz{|}~Root EntrydO)Current UserSummaryInformation(p8PowerPoint Document(DocumentSummaryInformation8