what happened to my ether?

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kiweed
14
kiweed  

Hi fellas


I'm reasonably new to this but have no problems on other platforms.  In Dec I bought 2x 400euro lots of Ether.  Now it says my balance is 26.89?


If I can give one example, the first 400 euro lot I bought at 738.80, then on my statement it gives a closed price (647.61), overnight interest (-52.09), profit (-384.80), and total profit (-436.89).

Then a similar story with the other 400 euro. I attached a screenshot.


Can anyone shed some light on this for me?


Cheers

Mike

Files:
ava_ether.jpg 187 kb
Eleni Anna Branou
Moderator
7014
Eleni Anna Branou  
kiweed:

Hi fellas


I'm reasonably new to this but have no problems on other platforms.  In Dec I bought 2x 400euro lots of Ether.  Now it says my balance is 26.89?


If I can give one example, the first 400 euro lot I bought at 738.80, then on my statement it gives a closed price (647.61), overnight interest (-52.09), profit (-384.80), and total profit (-436.89).

Then a similar story with the other 400 euro. I attached a screenshot.


Can anyone shed some light on this for me?


Cheers

Mike


You should beware of overnight charges and commissions.

kiweed
14
kiweed  
Eleni Anna Branou:

You should beware of overnight charges and commissions.


ahh ok with AVA trader you should move everything into your wallet every night? And over the course of 3 weeks my 800 euro dwindled down to 26 euro?

Eleni Anna Branou
Moderator
7014
Eleni Anna Branou  
kiweed:

ahh ok with AVA trader you should move everything into your wallet every night? And over the course of 3 weeks my 800 euro dwindled down to 26 euro?


Yes, you should make a reasearch of these overnight charges before holding a position too long.

Its not always the case of course with other instruments, in many cases you earn interest overnight.

Roy ensa
13
Roy ensa  
Eleni Anna BranouEleni Anna Branou::

Ya, Anda harus melakukan reasearch terhadap tagihan semalam sebelum mengambil posisi terlalu lama.

Tentu tidak selalu dengan instrumen lainnya, dalam banyak kasus Anda mendapat bunga semalam.

Fernando Carreiro
4765
Fernando Carreiro  
kiweed: ahh ok with AVA trader you should move everything into your wallet every night? And over the course of 3 weeks my 800 euro dwindled down to 26 euro?

There is no "wallet"! You are not actually buying or selling the actual asset. You are just trading a Contract for Difference (CFD).

This means that you are paying Spread for each order and Swap/Rollover charges for each night (and 3x that amount on Wednesday nights). In the case of cryptocurrency CFDs, these costs are extremely high!

You also need a large amount of deposited balance in order to cover your margin requirements, and your initial deposit of only €400, is way to low to be able to cover the daily volatility, especially with the volume you used as you did not even calculate the risk involved or set any stop-loss. Hence why you suffered a margin call.

In fact, I would not recommend trading Crypto-CFDs for anyone, but seasoned and experience traders. Newbies will just wipe out their accounts in no time at all.

kiweed
14
kiweed  

ok thank you all for your time.  With my other platforms I'm happy and doing ok.  I dont want to daytrade but spread a couple of thousand around and leave it for a few years. You live and learn. Ava trader is not for me!


Happy new year to all

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