My Trading journey.

[anonymous-user]

Didn't realise they'd join the party too on spreadbetting, thanks.

http://www.fxcm.co.uk/currency-spreads.jsp# shows avg of 2.8 spread which is worse than the fx side for obvious reasons.

My view is he may well have placed the trades but amounts were well out imo.

[Hoofy]

I've read worse. I think some guy posted on T2W that he built up a business over 10 years, sold it for £1m, decided to play the FX game. Lost it in a year. Easy money.

[ApexJimi]

I have to say, I had a bigger issue with his original story of walking away from a profitable business and seemingly throwing away good money after bad in the process of learning to trade - to the tune of a reasonable 5 figure sum.

[walm]

z4chris99 said:

walm said:

In the time it took me to write this (c.30 seconds) the GBP/USD has dropped from 15781 to 15777.

For those following along, putting on a £500 per pip bet on that amounts to the equivalent of a £8m bet.

That's right 8 MILLION POUNDS.

he would prob only need 40k in his account to cover the margin, with a SL to stop any big losses.

Of course, obviously.

I am just pointing out that with a bet of that size, noise can make you what sounds like big returns.
Relative to the size of the bet they aren't substantial returns at all.

[z4chris99]

on a side note there is a section in today's city am about trading schools etc,

[anonymous-user]

z4chris99 said:

on a side note there is a section in today's city am about trading schools etc,

Chris, we need you on your landlord thread

[birdcage]

For some reason I am thinking of someone sitting in their underpants in a two up two down with a limited grip on reality. As Soovy would say prove me wrong and I will send you a bottle of Cristal via the site

Screen grabs with no personal info at all attached.

[Derek Chevalier]

z4chris99 said:

on a side note there is a section in today's city am about trading schools etc,

http://www.cityam.com/wealth-management/going-back-school-boost-trading-grades

Technical analysis - how does that work?

[Hoofy]

birdcage said:

For some reason I am thinking of someone sitting in their underpants in a two up two down with a limited grip on reality. As Soovy would say prove me wrong and I will send you a bottle of Cristal via the site

Well, sitting in his pants in a 2-up, 2-down mortgage free in, say, Richmond, has to beat laughing at a boss's st jokes and having to wear a smart suit, turning up for the 9 to 5 8 to 7 every day if he's really able to do £5k a day.

[Hoofy]

Derek Chevalier said:

z4chris99 said:

on a side note there is a section in today's city am about trading schools etc,

http://www.cityam.com/wealth-management/going-back-school-boost-trading-grades

Technical analysis - how does that work?

Well, what you do is you attract noobs to attend your trading course, charge them £2k a day and blind them with really complicated jargon and baffle them with a multitude of colourful lines on a stock chart. Thus they feel they are getting value for money and that you're really clever. Oh, wait, you meant...

http://en.wikipedia.org/wiki/Technical_analysis

Edited by Hoofy on Tuesday 22 May 15:22

[DonkeyApple]

Hoofy said:

Speaking of which, what happened to Darren Winters?

He's back and marketing hard. Just as many mugs around in tough times as the good. You just need to tweak your product.

[Hoofy]

DonkeyApple said:

He's back and marketing hard. Just as many mugs around in tough times as the good. You just need to tweak your product.

Oh, right. Tried to find his site to link to it!

[DonkeyApple]

Dubai said:

Huh?

http://www.fxcm.co.uk/currency-spreads.jsp#

Floating or fixed?

It's the ODL book run via an 'ECN' where the primary liquidity pool is FXCM's book.

[Ford 2]

Well I must say that was interesting. From page 1 all the way to page 15 I was firm with th OP ( Could very well be the truth still ) but now after some actual traders had a look see I'm not so sure. I find it all extreamly interesting. I never once though trading/betting etc was a overnight success story etc, But I didnt see how much goes on in the backround. I'd love to be able to work with the likes of Hoofy, Dubai and R11ysf. Ye seem to lead a very interesting career, A very well done to ye all

Edited by Ford 2 on Tuesday 22 May 19:50

[DonkeyApple]

Bluequay said:

Isn't he spread-betting rather than actually trading? Wouldn't the commission therefore be lower because it's just the betting exchange taking commission off of the matched bet, rather than commission on an actual curreny trade?

The question to ask is why would a bookmaker pay a client £5k a day?

The next question to ask is how can a bookmaker lay off instantly and not invite slippage or comm themselves?

[Hoofy]

Ford 2 said:

likes of Dubai and R11ysf.

I would remove my name from that list. I'm not in the same league as them, I suspect.

[Ford 2]

Information provided versus my understanding is good enough for me. As for rank, it doesn't matter to me

[Hoofy]

Fair enough. Don't want to mislead anyone into thinking I'm someone I'm not.

Of course, if anyone wants to pay me £50,000 to teach them technical analysis over the weekend, I'm who you think I am. Oh, yes. If you book before midnight, I'll do a 10% discount. Quote "PistonHeads" in the email.

[g4ry13]

Hoofy said:

Fair enough. Don't want to mislead anyone into thinking I'm someone I'm not.

Of course, if anyone wants to pay me £50,000 to teach them technical analysis over the weekend, I'm who you think I am. Oh, yes. If you book before midnight, I'll do a 10% discount. Quote "PistonHeads" in the email.

YHM, please reply. 5 minutes to spare!

[DonkeyApple]

Hoofy said:

Oh, right. Tried to find his site to link to it!

This one might still be active: http://www.wealthtrainingcompany.co.uk

I can't recall the one I actually saw advertised.

Mark Harniman is back with something called the commodity trend runner.

And Greg is still going strong although getting divorced again.

The worst one I saw recently was the return of one of the biggest fx shysters of the 80s is back with a brokerage vehicle linked to one of the main chappies behind PacCon.

I wonder how many PM were sent and how much money is about to be extracted.