Account for the missus

[MrGecko]

If I were you, I'd explain to her a TA based statetegy on Forex with something like MT4. It should be pretty straightforward to explain it to her, so she can't say "I don't understand", and almost certain to lose money.

Let her lose money for a bit until she loses her temper gives up, that way:

a) she won't bother you when you say you are working but all she can see is you looking at screens
b) you re-inforce your position as the breadwinner
c) you undermine her confidence
d) you can leverage her losses for sexual favours

So it might not be as bad as I originally thought.

 

[Black Swan]

How about an account for the misses..?

 

[spinola]

Get the Mrs to order,buy, then read this. If she baulks at this first hurdle then least time (and possibly money) she and possibly you will of wasted. If she completes it she will have a primer from which to progress naturally, driven by herself.

Whilst I do not necessarily agree with Schwagers analysis or trading focus, it should give the Mrs some exposure to basic elements . I mean it's a book , workbook , with lots of charts which will no doubt leave the mrs saying "oooh that's a pretty chart pattern darling, did you put the bin out today ?"

Let Schwager take the heat, so you don't have to !

Editorial Reviews
Product Description
The definitive guide to technical analysis . . . written from a trader's perspective

With the keen insight and perspective that have made him a market legend, Jack D. Schwager explores, explains, and examines the application of technical analysis in futures trading. In the most in-depth, comprehensive book available, the bestselling investment writer demonstrates why he is one of today's foremost authorities. Here is the one volume no trader should be without.

"Jack Schwager has accomplished the rarest of feats in this book. He has presented material in a way that both the professional and layman can profit from. It is a must read for traders on all levels." — Stanley Druckenmillern Managing Director, Soros Fund Management

"Jack Schwager's Technical Analysis is exactly what one should expect from this expert on futures. The book is comprehensive, thoroughly insightful, and highly educational. I recommend it to the beginner as well as the expert." — Leo Melamed Chairman, Sakura Dellsher, Inc.

"Jack Schwager possesses a remarkable ability to extract the important elements of complex, market-timing approaches, and distill that into something intelligible and useful. Not only is he able to present these ideas cleverly in an easily understood format, but he also demonstrates their application to the markets with clarity and precision." — Thomas R. DeMark Author, The New Science of Technical Analysis

"Jack Schwager's book, A Complete Guide to the Futures Markets, was one of the best books I have read on futures trading. We give a copy of it to all our new analysts. Jack's latest work, Technical Analysis, looks like a gold mine of information, adding significantly to the existing investment literature." — Monroe Trout President, Trout Trading Management Co.

Jack Schwager is one of the most important and visible figures in the futures industry today. His Market Wizards and The New Market Wizards are two of the bestselling finance titles of all time. Now, in the latest volume in the Schwager on Futures series, Technical Analysis, Schwager has created the most comprehensive guide ever for using technical analysis for futures trading. What makes Technical Analysis unique, besides its in-depth coverage, is that it is written from a trader's perspective. Schwager doesn't merely cover the subject, he explores what works and doesn't work in the real world of trading.

Contains a comprehensive guide to chart analysis written with a particular focus on trading applications

* Includes a separate 200+ page section illustrating the use of chart analysis in the real world
* Details and illustrates several original trading systems
* Includes a self-contained primer on cyclical analysis
* Describes popular oscillators, the pitfalls in their common use, and guidelines to their successful application in trading
* Explains the concept and use of "continuous futures" and compares 10-year continuous futures charts with conventional nearest futures charts for all major U.S. futures markets
* Contains a section on trading strategy and philosophy, including over 100 trading tips

Hundreds of charts, tables, and examples illustrate key points throughout, while the text is written in the informative, insightful, and nontechnical style that has made Jack Schwager one of the most highly regarded and bestselling investment authors ever. This invaluable book by one of the world's foremost authorities is destined to become the premier industry guide on technical analysis for many years to come.
From the Publisher
The latest book in the Schwager on Futures series, written in the highly-informative yet non-technical style for which the bestselling author is famous. Contains the most complete and in-depth presentation of technical analysis available. Features a synthesis of market analysis along with practical trading considerations. http://www.amazon.com/Schwager-Futures-Technical-Analysis-Jack/dp/0471020516

 

[DionysusToast]

How about an account for the misses..?

Jeez - who would want more than one ?

In terms of market - main focus will be what I use as that's what she wants to use. She's intrigued by what I do and wants a pop at it.

Problem is $12.50 a tick is OTT. I'd let her do $1 a tick but $12.50 is way too high. Also - I don't want to let her onto one of my live futures accounts, although with IB I could create a segregated account for her fairly easily.

In terms of what I do - as before - 6E would be OK, DAX would be ok-ish. NQ, YM could also be considered.

Forex can't be done the with the things I'll show her. As for interest rates, not something I tried myself.

Holding times - a few minutes to hours.

Would an SB do this ? I'm not very savvy in the ways of SB, I would prefer CFD but I know nothing about this either, I just heard CFD was less dodgy than SB.

This far, the CFDs I found are effectively minimum $2.50 a tick on the ES. They say they are $1 a tick but they count 1 ES point as 10 ticks...

 

[timsk]

Hi DT,
Your concerns about the ES and $12.50 a tick are understandable. How about getting her to trade the Dow cash via a SB account and, if she gets on with it, it's a fairly natural progression to the YM? Re. SB versus CFDs - and without wishing to teach granny to suck eggs - have you had a gander at this FAQ: What are the pros & cons of Spreadbetting versus CFDs?

Tim.

 

[Black Swan]

Jeez - who would want more than one ?

In terms of market - main focus will be what I use as that's what she wants to use. She's intrigued by what I do and wants a pop at it.

Problem is $12.50 a tick is OTT. I'd let her do $1 a tick but $12.50 is way too high. Also - I don't want to let her onto one of my live futures accounts, although with IB I could create a segregated account for her fairly easily.

In terms of what I do - as before - 6E would be OK, DAX would be ok-ish. NQ, YM could also be considered.

Forex can't be done the with the things I'll show her. As for interest rates, not something I tried myself.

Holding times - a few minutes to hours.

Would an SB do this ? I'm not very savvy in the ways of SB, I would prefer CFD but I know nothing about this either, I just heard CFD was less dodgy than SB.

This far, the CFDs I found are effectively minimum $2.50 a tick on the ES. They say they are $1 a tick but they count 1 ES point as 10 ticks...

It's manhood at stake here though mate, if she's better than you we'll never live it down...

IMHO I'd open a forex micro, fund it with 500 and try and grow it, you never know fresh pair of eyes etc..

 

[DionysusToast]

BS - If she's better than me, I'll stop and do the cooking.

 

[Splitlink]

It's manhood at stake here though mate, if she's better than you we'll never live it down...

IMHO I'd open a forex micro, fund it with 500 and try and grow it, you never know fresh pair of eyes etc..

If she's better than him, will he tell us?

 

[Hilarymannah]

DT,..

To even open the door to such non-sense ("letting" your missus trade),. you deserve a good beating !
I'll say no more on the subject,.... : )

" Why did the woman cross the road" ?

"Never mind that,..what the fk was she doing out of the kitchen" !

 

[DionysusToast]

OK - So now I finally get it.

Here's the plan

1) Register on T2W as a new user
2) Announce I have a 90% winning strategy on the ES
3) Plead poverty (despite the 90% win rate)
4) Ask where I can trade my winning ES strategy for $1 -$4 a point

Maybe then there will be
- No recommendations to read useless trading books
- No recommendations to trade markets I can't teach her
- No smartass comments about my missus (actually, I like those to be honest)
- No requests for pics of her topless in her maids outfit cooking dinner (although I did send them)

I think Timsk hit the nail on the head with his link. I just can't actually be arsed to trawl the net for CFD/SB companies to find one that fits. Actually, that's not true - I have trawled and demo'd platforms of CFD companies in my quest but the stakes are higher than she needs for now.

Shurely there must be a noob on here somewhere that is trading index futures but not going all in at $12.50 a tick. Shurely there's someone out there that can say "the guys I deal with are OK".

Or maybe they are just all sh1t.

The one CFD company I demo'd gave me a guy to speak to on Skype. I explained my reservations about SB companies. At this he said "Basically, we are the same thing". 10/10 for honesty @ least.

 

[HowardCohodas]

My wife was reluctant to get involved with trading. I was unhappy because this was an area of our lives where we were neither partners nor had an interesting conversation.

I tried to teach her several times, but teaching a spouse is always problematic. Has anyone tried to teach a spouse to drive and quickly hired someone to do it?

Then I hit upon a scheme. I found a seminar (expensive) that taught something similar to my methods. They were even giving away a free (but short) Caribbean cruise for the first "n" who signed up. I met her for lunch and gave her the cruise for dessert. I told her taking the cruise was conditional on taking the class with me. I also told her that I wanted her to learn the cash-flow strategy I used so that she could continue to live comfortably if anything happened to me.

She went. She now understands it. We have a new area of conversation and partnership. I'm hoping I can get her to start trading on her own, but we are not quite there yet.

 

[redart]

I trade SP500 With smartlive for 10p per pip (so from 1221 to 1222 is worth £1)
that's spreabetting, although they also have a CFD version (not certain that such small stakes are still allowed though)

I also used to trade wth ABNamro Marketindex (now called RBS market index?)
They also allowed small stakes on the indicies.
Same front end as Oanda.

ps - send me naked pics....maybe some of your wife aswell!

 

[DionysusToast]

Spot on Howard.

One of my fears is that I die a sudden death and my money ends up in mutual funds or other sh1tty investmens and ends up worth nothing.

 

[counter_violent]

SB should be the way to go with this. I'm not really plugging this but ETX has a nice platform and good customer service with the additional benefits of small stake and an opening account offer of £250 quid cash back against losses in first 3 months. That ought to be plenty of time for you to evaluate if she has a genuine interest or if it's a passing phase.

 

[DionysusToast]

If she's better than him, will he tell us?

Not only will I tell you, I'll cook you dinner.

 

[DionysusToast]

SB should be the way to go with this. I'm not really plugging this but ETX has a nice platform and good customer service with the additional benefits of small stake and an opening account offer of £250 quid cash back against losses in first 3 months. That ought to be plenty of time for you to evaluate if she has a genuine interest or if it's a passing phase.

Thanks - I'll take a look at them.

 

[redart]

I trade SP500 With smartlive for 10p per pip (so from 1221 to 1222 is worth £1)
that's spreabetting, although they also have a CFD version (not certain that such small stakes are still allowed though)

I also used to trade wth ABNamro Marketindex (now called RBS market index?)
They also allowed small stakes on the indicies.
Same front end as Oanda.

no good?

 

[isatrader]

I trade SP500 With smartlive for 10p per pip (so from 1221 to 1222 is worth £1)
that's spreabetting, although they also have a CFD version (not certain that such small stakes are still allowed though)

Finspreads has the lowest spreadbetting sizes I’ve found for a full account. SP500 is $0.60 per point, so for the example above 1221 to 1222 is about 37p at todays exchange rate.

 

[BIBIqqq]

Thanks for your information, I think it is useful.:clap::clap::clap::clap::clap:

 

[BIBIqqq]

I also hope you guys will provide more useful information in this forum, big thanks!