Discussion
jonamv8 said:
His Twitter account is a blast. Anyone want to spend a tenner on the plate to find who it belongs to?
Ginge R said:
jonamv8 said:
His Twitter account is a blast. Anyone want to spend a tenner on the plate to find who it belongs to?Little bit of brain training https://traderbrainexercise.com/Home
Article here http://www.bloomberg.com/news/articles/2016-08-19/...
Article here http://www.bloomberg.com/news/articles/2016-08-19/...
Seems appropriate to put here:
Almost 80% of Private Day Traders Lose Money ( http://www.curiousgnu.com/day-trading )
Almost 80% of Private Day Traders Lose Money ( http://www.curiousgnu.com/day-trading )
twinturboz said:
R11ysf said:
QE baby! NEVER a bad time to buy!!
We'll see if you have the same view in a few weeks 
. Buying Vix here too. Just Imo but market is acting tired. Overall your right though how is the market ever going to come down significantly whilst central banks are trying to eliminate the boom and bust cycle. sidicks said:
IMO you might just as well go to an on-line casino - it's effectively gambling / guesswork, rather than based on fundamentally research / knowledge, up against people who are far better researched and resourced than you.
Depends how your trading.To a certain extent use the analogy of a poker game. Firstly you need to maintain your chips at all cost in order to play the hands. So if your only ever risking a 1% loss of capital on any trade then no one trade can wipe you out.
You want to play only the strongest hands, be patient wait for the right setup and when you see it then play. If your simply taking a long/short at any arbitrary level stop loss or not, then yes I agree just plain gambling. But you want to wait until you have an edge if your technically minded wait for a pattern or significant level to lean against.
Once you've played your hand and the flop has been dealt do you have the ability to reassess, realise the setup has changed fold and minimise your loss. Move on and wait for the next setup.
With the algos and big players do you have the ability to see when they are bluffing you, countless times a stock will come down take out your stop and then run or it looks like the stock is going to break out everyone gets long the next day it reverses back down shakes out all the weak longs only to then go on a massive run.
It doesn't have to be pure gambling in fact the idea is calculated gambling.
With most gambling, you make a bet, it crystallises into a win or loss in a given time.
With spread betting, you only make a loss when you decide to do so. If you bet within your means and have sufficient capital, you can normally sit on a potential loss until it turns around. The problem is that it can take some time, days, weeks, months or even years, so if you are doing this professionally, you are not often afforded this luxury.
cashmax said:
To add , there is a very big difference between day trading / spread betting and normal gambling.
With most gambling, you make a bet, it crystallises into a win or loss in a given time.
With spread betting, you only make a loss when you decide to do so. If you bet within your means and have sufficient capital, you can normally sit on a potential loss until it turns around. The problem is that it can take some time, days, weeks, months or even years, so if you are doing this professionally, you are not often afforded this luxury.
Spread betting is a short term investment/trading tool. My advice to anyone, as the owner of a spread betting firm, is to always set a fixed forward point in time to crystallise any open position. Otherwise all you are doing is paying funding to people like me and running elevated risk. Unless the spread bet is a hedge then I have never seen the logic in holding any OTC position with funding charges for more than a couple of weeks. With most gambling, you make a bet, it crystallises into a win or loss in a given time.
With spread betting, you only make a loss when you decide to do so. If you bet within your means and have sufficient capital, you can normally sit on a potential loss until it turns around. The problem is that it can take some time, days, weeks, months or even years, so if you are doing this professionally, you are not often afforded this luxury.
avinalarf said:
Only down slightly.
Coincidentally the shares are subject to a revised bid offer made yesterday afternoon.
My deal was placed on a feeling that the bid offer would move the share upward.
It didn't ,so I'm thinking about why my initial thoughts were wrong.
However I still feel that long term they are worth getting into.
The ability to see that the original reason for opening a position has been proven wrong but applying a new reason to keep holding the trade so as to avoid taking the trading loss is one of the core reasons why the majority of traders/investors lose. Coincidentally the shares are subject to a revised bid offer made yesterday afternoon.
My deal was placed on a feeling that the bid offer would move the share upward.
It didn't ,so I'm thinking about why my initial thoughts were wrong.
However I still feel that long term they are worth getting into.
jonamv8 said:
DM is never duped. Any 'trader' who attempts to sell a system based on their lifestyle is a fraud. Thickos who are impressed by shiny tat and who are too lazy to ever achieve anything in life will always fall victim to scams that profess to get them rich without doing any work.
So far, Millenials are turning out to be the thickest humans to have ever lived in this regard. Easy money, weak parenting and ease of being reached through modern media has bred a legion of suckers.
I saw some good advice for trading once but can't recall where from..
When you open a trade there are 5 possible outcomes.
1) Lose a lot
2) Lose a little
3) Break even
4) Make a bit
5) Make a lot
You can protect against number 1 from setting sensible stop losses and hit number 5 by not snatching at profits. In theory it seems easy but in reality people do it the other way around. I'm guilty myself.
When you open a trade there are 5 possible outcomes.
1) Lose a lot
2) Lose a little
3) Break even
4) Make a bit
5) Make a lot
You can protect against number 1 from setting sensible stop losses and hit number 5 by not snatching at profits. In theory it seems easy but in reality people do it the other way around. I'm guilty myself.
acealfa said:
In theory it seems easy but in reality people do it the other way around. I'm guilty myself.
Trading is all in your head. Especially so if day trading, and especially so if trading with your own money. Feck that for a game of laughs! If you're employed at least you can walk out of the office having lost a lot and not worry about it. 
Good trading is boring there is no buzz. 
Was debating to post this or not but the general consensus on this thread was that trading was a waste of time or something not worth pursuing.
I figured I'd try to challenge that perception, so I chucked £500 into a spread betting account on the 24th August with the aim of posting the results up here whatever they were.
Now the results I know are only a few weeks of trades and you can argue if it's sustainable in the long run etc, but the purpose of posting this up is to be transparent and to show that with the right risk management you can make money trading it's not all gloom and doom.
Also with the tiny starting capital leverage was a big point and so this strategy is obviously high risk and in all likelihood not suitable for those just starting out, the main point is to be disciplined with losses.
Ignore the risk stats simply because I logged the trades into the software after and don't remember what my stop losses were after the fact, ignore the $ sign too currency is £.
Current unrealised positions is 4 trades with a total of -£300.
I figured I'd try to challenge that perception, so I chucked £500 into a spread betting account on the 24th August with the aim of posting the results up here whatever they were.
Now the results I know are only a few weeks of trades and you can argue if it's sustainable in the long run etc, but the purpose of posting this up is to be transparent and to show that with the right risk management you can make money trading it's not all gloom and doom.
Also with the tiny starting capital leverage was a big point and so this strategy is obviously high risk and in all likelihood not suitable for those just starting out, the main point is to be disciplined with losses.
Ignore the risk stats simply because I logged the trades into the software after and don't remember what my stop losses were after the fact, ignore the $ sign too currency is £.
Current unrealised positions is 4 trades with a total of -£300.
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