My Trading journey.
Discussion
Somewhatfoolish said:
p.s. I give this advice unsolicited freely to anyone who wants it but no one ever takes me up on it, all you have to do to make money trading is sit on the bid and offer of a front month STIR in the last couple of days before expiry (assuming fixings are stable versus the tick size, a fair assumption 99% of the time).
It is the lazy person's version of:
This would have gone HORRENDOUSLY wrong if you were doing it on Friday 15th in front Short Sterling - which expired on Wed 20th.It is the lazy person's version of:
NorthernBoy said:
I've traded various things. In jobs where I was expected to make a strong profit, I had access to customers, who would buy over the fair price, and sell to me below it. Maximizing this profit was a difficult job, which is why they paid me, but they never assumed that I would regularly extract money from markets with no edge.
You are the other side of this deal, by choice. Why not spend the next three years getting a degree in econometrics, from a top university, and then have a bank train and pay you?
Indeed, in general, front month STIRs, or perhaps multi-leg startegies in far out commodities, flys at a minimum (that's a guess cause I've never done that) are the best things I can think of for someone without institutional backing to sell above fair value and buy below fair valueYou are the other side of this deal, by choice. Why not spend the next three years getting a degree in econometrics, from a top university, and then have a bank train and pay you?
So live n learn eh
Edited by Somewhatfoolish on Sunday 24th June 19:51
NorthernBoy said:
Mr fox said:
i'm sure there are soem people on here who do work in the industry, but how many of them actually are bona fide FSA registered traders, rather than just jumped up patsy's in their cheap suits, and hermes belts working in a spread-betting company ringing clients to get them to trade.
Me. I am, but you didn't want my advice, as you know better, it seems.Somewhatfoolish said:
This would have gone HORRENDOUSLY wrong if you were doing it on Friday 15th in front Short Sterling - which expired on Wed 20th.
So live n learn eh
Mansion House leak was nasty. I know a lot of L front month traders who were carried out.So live n learn eh
Edited by Somewhatfoolish on Sunday 24th June 19:51
oO Trouble Oo said:
Somewhatfoolish said:
This would have gone HORRENDOUSLY wrong if you were doing it on Friday 15th in front Short Sterling - which expired on Wed 20th.
So live n learn eh
Mansion House leak was nasty. I know a lot of L front month traders who were carried out.So live n learn eh
Edited by Somewhatfoolish on Sunday 24th June 19:51
(Actually I just pulled a GTC @7 not sure what time I'm getting up tomorrow but still 5 bid for the world, see you then)
Edited by Somewhatfoolish on Wednesday 19th September 02:27
z4chris99 said:
hows the trading going OP?
i would have thought you were at a hedge by now, or maybe an IB prop desk?
Yes trading is going very well, thanks for asking. i would have thought you were at a hedge by now, or maybe an IB prop desk?
I have invested in a computer now with 4 aoc monitors, but I still seem to favour using my laptop all the time. I am now just concentrating on one "main" currency that I trade.
I am not at a Hedge, or a IB prop desk(lol), nor do I wish to be there. I could post all my trades beforehand with targets, and stop-losses, but after internet arguments, slating's, and me turning into a dick in my replies I do not wish to return to that, and take heed of advice from knowledgeable Ph'ers to just keep my mouth shut, and just concentrate on my trading.
P.S. I best put a disclaimer in to say: I have no intention to trade other peoples money or teach others to trade.
lol.
Regards
Mr Fox.
Mr fox said:
Yes trading is going very well, thanks for asking.
I have invested in a computer now with 4 aoc monitors, but I still seem to favour using my laptop all the time. I am now just concentrating on one "main" currency that I trade.
I am not at a Hedge, or a IB prop desk(lol), nor do I wish to be there. I could post all my trades beforehand with targets, and stop-losses, but after internet arguments, slating's, and me turning into a dick in my replies I do not wish to return to that, and take heed of advice from knowledgeable Ph'ers to just keep my mouth shut, and just concentrate on my trading.
P.S. I best put a disclaimer in to say: I have no intention to trade other peoples money or teach others to trade.
lol.
Regards
Mr Fox.
I haven't read the whole thread, but could you not provide them afterwards rather than before and then state the reasons for selection and whatever else? It would make for interesting reading...I have invested in a computer now with 4 aoc monitors, but I still seem to favour using my laptop all the time. I am now just concentrating on one "main" currency that I trade.
I am not at a Hedge, or a IB prop desk(lol), nor do I wish to be there. I could post all my trades beforehand with targets, and stop-losses, but after internet arguments, slating's, and me turning into a dick in my replies I do not wish to return to that, and take heed of advice from knowledgeable Ph'ers to just keep my mouth shut, and just concentrate on my trading.
P.S. I best put a disclaimer in to say: I have no intention to trade other peoples money or teach others to trade.
lol.
Regards
Mr Fox.
M666 EVO said:
Brilliant thread, made me laugh
A cross between The Locker Room and Catch 22
BUY LOW SELL HIGH!
Anyway, RKH and BDEV. Try those but they are long, long term
I'd add Persimmon and Berkeley Homes into that mix too (when talking about Bdev). Berkeley especially. Tony Pidgeley is simply Mr Residential. he called the early 90's recession (by getting into cash in '89); then during the later 90's he started buying cheap/distressed. then he called the market in 2006/07 (again - not buying land and staying cash rich) and he has absolutely raped the land market (bought v v well) since the depths of early '09. they've stopped for the moment (as it's getting v heated in zones 1 -4) but he'll bide his time and then go again as some point. A cross between The Locker Room and Catch 22
BUY LOW SELL HIGH!
Anyway, RKH and BDEV. Try those but they are long, long term
They build well, buy in the right locations and they are just a brilliant, brilliant company. I work for a rival (buying land) of Berkeley homes.
Persimmon because of their announcement regarding their dividend payments.
Oi_Oi_Savaloy said:
M666 EVO said:
Brilliant thread, made me laugh
A cross between The Locker Room and Catch 22
BUY LOW SELL HIGH!
Anyway, RKH and BDEV. Try those but they are long, long term
I'd add Persimmon and Berkeley Homes into that mix too (when talking about Bdev). Berkeley especially. Tony Pidgeley is simply Mr Residential. he called the early 90's recession (by getting into cash in '89); then during the later 90's he started buying cheap/distressed. then he called the market in 2006/07 (again - not buying land and staying cash rich) and he has absolutely raped the land market (bought v v well) since the depths of early '09. they've stopped for the moment (as it's getting v heated in zones 1 -4) but he'll bide his time and then go again as some point. A cross between The Locker Room and Catch 22
BUY LOW SELL HIGH!
Anyway, RKH and BDEV. Try those but they are long, long term
They build well, buy in the right locations and they are just a brilliant, brilliant company. I work for a rival (buying land) of Berkeley homes.
Persimmon because of their announcement regarding their dividend payments.
Not necessarily - alot of Berkeley's purchasers don't take a mortgages.....
Mortgages are still expensive and v hard to come by (whatever the govt tell you). Just look at the fees upfront (£500 to £2000). Look at the LTV ratios.
Barratt and Persimmon are using Newbuy (govt backed mortgages in essence) to get the regions going. What's saved Barratt recently is that they've bought well in London.
When we buy land most of our focus is on the exit strategy. Whom is going to buy, why and how are they going to make the purchase. That's key. We try to buy where we're effectively insulated from any anticipated downturn. Bloody difficult however.
Barratt are about to start on a epic scheme at Horseferry magistrates - they've got a number like that. Berkeley too have some exceptional sites. Just look at Riverlight in the Nine elms regen area. just down from battersea powerstation. On the river. It was sold in 2007 for £83 million. purchasers went bust in 2008. Pidgeley picked it up for £50million. have a look at the bespoke webasite for the scheme - www.riverlight.co.uk . the consent is for 806 units (of which 699 are open market and the balance are affordable units).
That's just one site. 700 apartments with an average price of £400,000 to £500,000. the way it's phased - that will deliver profit for the next 6 years (or maybe more).
Mortgages are still expensive and v hard to come by (whatever the govt tell you). Just look at the fees upfront (£500 to £2000). Look at the LTV ratios.
Barratt and Persimmon are using Newbuy (govt backed mortgages in essence) to get the regions going. What's saved Barratt recently is that they've bought well in London.
When we buy land most of our focus is on the exit strategy. Whom is going to buy, why and how are they going to make the purchase. That's key. We try to buy where we're effectively insulated from any anticipated downturn. Bloody difficult however.
Barratt are about to start on a epic scheme at Horseferry magistrates - they've got a number like that. Berkeley too have some exceptional sites. Just look at Riverlight in the Nine elms regen area. just down from battersea powerstation. On the river. It was sold in 2007 for £83 million. purchasers went bust in 2008. Pidgeley picked it up for £50million. have a look at the bespoke webasite for the scheme - www.riverlight.co.uk . the consent is for 806 units (of which 699 are open market and the balance are affordable units).
That's just one site. 700 apartments with an average price of £400,000 to £500,000. the way it's phased - that will deliver profit for the next 6 years (or maybe more).
Oi_Oi_Savaloy said:
Not necessarily - alot of Berkeley's purchasers don't take a mortgages.....
Mortgages are still expensive and v hard to come by (whatever the govt tell you). Just look at the fees upfront (£500 to £2000). Look at the LTV ratios.
Barratt and Persimmon are using Newbuy (govt backed mortgages in essence) to get the regions going. What's saved Barratt recently is that they've bought well in London.
When we buy land most of our focus is on the exit strategy. Whom is going to buy, why and how are they going to make the purchase. That's key. We try to buy where we're effectively insulated from any anticipated downturn. Bloody difficult however.
Barratt are about to start on a epic scheme at Horseferry magistrates - they've got a number like that. Berkeley too have some exceptional sites. Just look at Riverlight in the Nine elms regen area. just down from battersea powerstation. On the river. It was sold in 2007 for £83 million. purchasers went bust in 2008. Pidgeley picked it up for £50million. have a look at the bespoke webasite for the scheme - www.riverlight.co.uk . the consent is for 806 units (of which 699 are open market and the balance are affordable units).
That's just one site. 700 apartments with an average price of £400,000 to £500,000. the way it's phased - that will deliver profit for the next 6 years (or maybe more).
Not sure I agree that mortgages are expensive (certainly not on a historical basis - they are still extraordinarily cheap), nor hard to come by - maybe if you have a small deposit, but that is understandable. Agreed that Berkeley may have some nice sites (I was chatting to someone from Berkeley at the weekend), but in a downturn, even the top end isn't immune.Mortgages are still expensive and v hard to come by (whatever the govt tell you). Just look at the fees upfront (£500 to £2000). Look at the LTV ratios.
Barratt and Persimmon are using Newbuy (govt backed mortgages in essence) to get the regions going. What's saved Barratt recently is that they've bought well in London.
When we buy land most of our focus is on the exit strategy. Whom is going to buy, why and how are they going to make the purchase. That's key. We try to buy where we're effectively insulated from any anticipated downturn. Bloody difficult however.
Barratt are about to start on a epic scheme at Horseferry magistrates - they've got a number like that. Berkeley too have some exceptional sites. Just look at Riverlight in the Nine elms regen area. just down from battersea powerstation. On the river. It was sold in 2007 for £83 million. purchasers went bust in 2008. Pidgeley picked it up for £50million. have a look at the bespoke webasite for the scheme - www.riverlight.co.uk . the consent is for 806 units (of which 699 are open market and the balance are affordable units).
That's just one site. 700 apartments with an average price of £400,000 to £500,000. the way it's phased - that will deliver profit for the next 6 years (or maybe more).
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