Re: £400 a day ftse trading

Re: £400 a day ftse trading

Hello.
Can anyone help me? I've noticed on ebay that someone is selling a system which could make £400 a day trading the ftse. Has anyone bought this system yet? I'd like anyone to give me any info on this.
He calls this "Better than Forex, Horse Racing FTSE 100 Trading System".
Also can anyone give me pointers to daytrading the ftse index, profitably, that is.
Thanks

Paul

:?:

Pau4348 said:

Hello.
Can anyone help me? I've noticed on ebay that someone is selling a system which could make £400 a day trading the ftse. Has anyone bought this system yet? I'd like anyone to give me any info on this.
He calls this "Better than Forex, Horse Racing FTSE 100 Trading System".
Also can anyone give me pointers to daytrading the ftse index, profitably, that is.
Thanks

Paul

:?:

Click to expand...

just ask yourself 2 questions:

1. does it sound too good to be true?
2. If it is true - then WHY is he selling it?!!

Spanish89 up to his old tricks again? Sorry, only teasing.

Pau4348 said:

Hello.
Can anyone help me? I've noticed on ebay that someone is selling a system which could make £400 a day trading the ftse. Has anyone bought this system yet? I'd like anyone to give me any info on this.
He calls this "Better than Forex, Horse Racing FTSE 100 Trading System".
Also can anyone give me pointers to daytrading the ftse index, profitably, that is.
Thanks

Paul

:?:

Click to expand...

how much is he selling it for?
how many copies is he selling?

does the amount he is selling it for seem congruent with the £400 a day/£2,000 a week/£100,000 a year you could make from it trading it?

if you could make that kind of money trading such a system, how much time would you devote to setting yourself up as a seller on ebay?

I can sell you a system which "could" make you money on FTSE.

The thing is I can make you loads money very likely if you give me 50% of the profits but I really can't be arsed. Too much hassle.

system trading

FXSCALPER2 said:

The thing is I can make you loads money very likely if you give me 50% of the profits but I really can't be arsed. Too much hassle.

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Well said FXSCALPER, thats the crux of it really- Trading is a personal business and logic should tell you that if any system works, then by definition, there is no point in selling it. There are many systems that do work some of the time, but none that work all of the time. Just think about it for a moment. For a system to "work", it must only average slightly more gains than losses + costs. A working system only needs to be able to net gain a few points per day or whatever time period. Then by increasing your position size you could soon be raking in the millions. If this were possible, then dont you think that the likes of Meryll Lynch et al, with all their resources brought to bear would have such a system, and would have sucked out all the money in the markets a long time ago.

The few successful traders that survive do so through years of patient study of the markets and of self, then combined with a good system or strategy, one can consistently make a profit- Having reached that level of expertise, then there is nothing to be gained by doing it for someone else.

In my opinion, learning to trade is like learning to be a professional tennis player. You have to invest a huge amount of time and effort to get anywhere close to making it, and it costs a fortune in blood sweat and tears as well as money, and even then, theres no guarantee that you'll make it to wimbledon

oh, one other thing, look at a website called collective2.com. There, 100-s of systems are impartially monitored and results published and you can see a real track record before you buy. Tell your ebayer to submit his reults to them for scrutiny

datav said:

oh, one other thing, look at a website called collective2.com. There, 100-s of systems are impartially monitored and results published and you can see a real track record before you buy. Tell your ebayer to submit his reults to them for scrutiny

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Thanks guys. I've emailed the seller to give me a history of his trades. I'm still waiting.

Paul

His link is below,

Better than Forex, Horse Racing FTSE 100 Trading System on eBay, also, How-To Guides, Information Products, Everything Else (end time 13-Apr-08 19:15:00 BST)

datav said:

Well said FXSCALPER, thats the crux of it really- Trading is a personal business and logic should tell you that if any system works, then by definition, there is no point in selling it. There are many systems that do work some of the time, but none that work all of the time. Just think about it for a moment. For a system to "work", it must only average slightly more gains than losses + costs. A working system only needs to be able to net gain a few points per day or whatever time period. Then by increasing your position size you could soon be raking in the millions. If this were possible, then dont you think that the likes of Meryll Lynch et al, with all their resources brought to bear would have such a system, and would have sucked out all the money in the markets a long time ago.

The few successful traders that survive do so through years of patient study of the markets and of self, then combined with a good system or strategy, one can consistently make a profit- Having reached that level of expertise, then there is nothing to be gained by doing it for someone else.

In my opinion, learning to trade is like learning to be a professional tennis player. You have to invest a huge amount of time and effort to get anywhere close to making it, and it costs a fortune in blood sweat and tears as well as money, and even then, theres no guarantee that you'll make it to wimbledon

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Hmmm. Food for thought.

just looks like a MA crossover strat to me!

Buy it and you'll soon find out that you've wasted your money.

Also, ask yourself how they come up with £400 a day. Why not £250 or £980 a day etc.

Will people really buy that stuff? Those arrows are supposed to show what exactly? You could get a chart and put the arrows after the fact. Strange.

Just had a quick look. Betting £10 a point/pip on a £1000 bank seems like a recipe to wipe out your capital to me.

datav said:

A working system only needs to be able to net gain a few points per day or whatever time period. Then by increasing your position size you could soon be raking in the millions.

Click to expand...

Well this isn't strictly true - you have to consider margin costs and potential drawdown. If your system makes an average of 10pips per day, but requires 250pips of margin and can potentially suffer an additional 250pips of total drawdown (with consequtive losses) then you can't just trade any size as you'll get margin called. Let's say you don't want to suffer more than a 20% drawdown, - so that 250pips must only be 20% of your account.

By this reckoning if you have a £1000 account then you can only trade 80p per pip which means your average daily take is £8 per day.

Think about that!

Hoggums said:

Well this isn't strictly true - you have to consider margin costs and potential drawdown. If your system makes an average of 10pips per day, but requires 250pips of margin and can potentially suffer an additional 250pips of total drawdown (with consequtive losses) then you can't just trade any size as you'll get margin called. Let's say you don't want to suffer more than a 20% drawdown, - so that 250pips must only be 20% of your account.

By this reckoning if you have a £1000 account then you can only trade 80p per pip which means your average daily take is £8 per day.

Think about that!

Click to expand...

Hoggums,

The person you are responding to is correct. The basic idea in trading is to trade with an edge and it is not important how small that edge is. If we both have an edge that produces x pips per trade and we have the same risk parameters, our % return is going to be the same. The trick is to have an edge, however small that edge is. It is then purely a matter of size how much money you make.

The issue you are raising has to do with how big someone's account may be and what the margin requirements are for the type of trading they do. This is a separate issue that can be solved by anyone with an edge. Given people can sell unverified stuff on ebay and the like, if one really has an edge and needs more money, all one has to do is produce auditable statements of their edge in action and they will get all the funding they need. But this, as I say, is not relevant to the issue of how big your edge needs to be.

FXSCALPER2 said:

Hoggums,

The person you are responding to is correct. The basic idea in trading is to trade with an edge and it is not important how small that edge is. If we both have an edge that produces x pips per trade and we have the same risk parameters, our % return is going to be the same. The trick is to have an edge, however small that edge is. It is then purely a matter of size how much money you make.

The issue you are raising has to do with how big someone's account may be and what the margin requirements are for the type of trading they do. This is a separate issue that can be solved by anyone with an edge. Given people can sell unverified stuff on ebay and the like, if one really has an edge and needs more money, all one has to do is produce auditable statements of their edge in action and they will get all the funding they need. But this, as I say, is not relevant to the issue of how big your edge needs to be.

Click to expand...

Quite so FXSCALPER, Let us consider a system that takes 100 trades. It is a simple system that aims to take 10 pips profit and has a 10 pip stop loss. Suppose the system has a 60 to 40 winning edge, so, if on each trade we make or loose 100 pounds (for arguments sake) then after 100 trades you will have 200 pounds gross profit. That is the edge. The cost of the business, and the operating capital required are not trading issues, they are business issues. If each trade cost you 1 pound, then after the 100 trades you will have 100 pounds, net profit . Similarly, your account size has to be sufficient to allow you to take all the 100 trades, even if by chance, you get all the 40 losing trades in a row, before you get your 60 winning trades.

Better than Forex, Horse Racing FTSE 100 Trading System on eBay, also, How-To Guides, Information Products, Everything Else (end time 13-Apr-08 19:15:00 BST)

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"I have finally developed this system after 2 months of hard graft and research, . . . "

Pau4348 said:

His link is below,

Better than Forex, Horse Racing FTSE 100 Trading System on eBay, also, How-To Guides, Information Products, Everything Else (end time 13-Apr-08 19:15:00 BST)

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From the link: "Even trading for just 1 day a week will produce you a substantial 2nd income !!! "

Rather reminds of those notices fixed to lamp posts that you read while waiting at traffic lights........(presumably red-traffic-light districts?) earn £1000 p/week in your spare time.

Think I'll stick to double glazing or eco-conversions.

The feedback from previous buyers just looks wrong to me in the way it is worded. I have seen a few of these sorts of things on eBay and none of the feedback reads the way this does. Also they made 8 sales in 5 days and nothing in the last 7 days which again is at best strange


Paul