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March 22, 2007
Contracts For Difference explained, Thursday, March 22, 2007, 9:24 AM
Yesterday, I made a comment that traders can buy gold and silver with a 1 pct margin requirement. That’s true, but I should have qualified the remark.
I am referring to Contracts For Difference (CFD), which is a derivative product designed for traders who seek extra leverage. By definition, there is extra risk involved. I don’t recommend them for novice traders.
CFD’s are approved in most countries of the world except the US. In Canada, they are approved only for “sophisticated” traders, but depending on changes in the margin requirements, the CFD brokers may be permitted by the IDAC at some point to trade with the public.
A good source of information on CFD’s is at wiki or at the websites of any of the key brokers that offer CFD’s, like (i) Man Financial, (ii) Saxo Bank, and (iii) CMC Markets.
Posted by Posted by Bill Cara on March 22, 2007 09:24:22 AM | Category: Trader Tools
Discourse
onlineaces,
I'm considering setting up the same business in Bahamas.
/Bill
Posted by: Bill Cara ![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
March 22, 2007 2:11 PM [link]
Bill do you mind emailing me some information on your service "for a fee" or and if you are going to manage other people's money etc.?
Thank you,
Tom
Posted by: golden7 at
March 22, 2007 3:31 PM [link]
golden7,
I'm down to the short strokes on the decision as to how to move forward. Above all, I am conscious of the requirements of securities regulators, and any plan will need to be acceptable at that level.
My first obligation is to discover the source of my health concerns. Today, in a discussion with a mining associate in Chile, a man who works in the rain forests of Latin America and who has had a dozen cases of typhoid/malaria, which hurt his lungs badly, I learned he solved his problems with a herbal tea that cleanses the body of toxins. From a quick look at the literature, I noted that I have 13 of the 14 symptoms listed, and perhaps all of them, so I'm going to try the product.
Next, I must spend at least three weeks on the book manuscript.
Then I plan to get my book publisher (ISI Publications) involved in my blog and web site so that I can get free of all admin tasks. A decision/agreement on that is likely next week.
Next, I will submit the final docs needed by the Securities Commission of the Bahamas to get licensed there, at the least as an advisor. My clients then would continue as is with their own broker, but would enter into a tri-partite agreement that included me. I'd then be living full-time in Bahamas, doing seminars for visitors and so forth, plus the Week In Review and the occasional commentary on the blog.
What I am considering doing is setting up a precious metals related business in Bahamas -- a vault for storing bullion and coins, the purchase of a private gold producer, and a trading fund. I am looking at the securities requirements of that right now. This is the only one of my projects that is tricky because there are securities laws we all must obey.
More later. For now though, I spend most of my days in bed because my health is my top priority.
Posted by: Bill Cara at
March 22, 2007 5:58 PM [link]
Bill
I am glad to hear that you have your priorities in order. Our health is our most valuable asset. Sine qua non.
I would be very interested in your keeping me posted (via personal e-mail) of the programs you develop in the Bahamas and their availability.
I am sure I am not alone.
Perhaps you could let us know about the herbal tea your friend recommends. Some of us might like to try it and, who knows, among your readership there is probably some herbal, holistic expertise.
I would be very surprised if there wasn't.
Best.
Posted by: Rigdon at
March 22, 2007 6:26 PM [link]
Bill,
Please know that we want your health to be good. There will be atime for the business but please know that you have my faith and trust and that is why I have shown an interest. I would love to be able to invest in a trading fund especially if it can accept IRA funds.
Best of health to you,
tom
Posted by: golden7 at
March 22, 2007 7:12 PM [link]
The way to the future is focusing on your health now. Glad to see you are working on that Bill. With your active mind and lifestyle, you're probably impatient. I know I would be. However, the road to full recovery is incremental improvement day by day. Good luck and thanks for your help to all.
Posted by: Seamus at
March 22, 2007 7:49 PM [link]
Cramer back-pedeling on market manipulations in interview with Don Imus:
Posted by: onlineaces at
March 22, 2007 11:42 PM [link]
Bloomberg:
`Suspicious' Trades Precede Most Big Canada Mergers, Study Says
http://www.bloomberg.com/apps/news?pid=20601109&sid=aWEkKs084ISM&refer=exclusive
Posted by: DollarBill at
March 23, 2007 3:32 AM [link]
Just wanted to add that you can trade as little as one ounce of gold or silver on Oanda for 2% (50 to 1). www.fxtrade.com. Have been using them since 2000 and think the have a great system that's little known.
Posted by: wkkapr at
March 23, 2007 4:14 AM [link]
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Has anyone here used www.BullionVault.com?
I getting interested in them since there are advantages to keeping bullion outside of the US (they offer vault storage in Switzerland.) Before I get involved I wanted to see if anyone has had a good ( or bad ) experience w/them.
Posted by: onlineaces![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
March 22, 2007 2:04 PM [link]