Brewski's Leverage Abuse

Car would be nice but I have a whole house that needs sorting/redecorating/cleaning first... boring I know! In my dreams this trade will make 50k and then I’ll go and buy an escort cosworth!
 
brewski1984 said:
Sitting through the drop (£2000 for me) on Thursday when Dow was tanking and everyone was talking about 30 years since the major crash was the turning point. Majority of people would not have had the stones to hold tight and sit through that and I bet a lot of people impulsively went short anticipating a major sell off and got burned.

I’m hoping I can at least see 10k profit even if it flashes for just a second, I have guaranteed stop at 23120 (dec 17 price not cash) which is around £5300 so I’ll leave it and hope for more.
Click to expand...
can you not scale out a little to take something:cheesy:
 
I once went from £3K to £38K in 6 weeks, then promptly lost it all (and more) in the following 6 weeks, I suffered £17K drawdowns on the way up. The most I put on per point was £120.

Did I know what I was doing - did I f*ck, I didn't even know I was gambling either, for that was all it was - gambling.

Of course I now know better :cool:

I'm sure there are plenty of others that have gambled more and gambled less and won more and lost more.

If you know you are gambling, then fine, enjoy the ride, whichever way it goes, if you think you are trading and have made 10x or more your starting capital, then either:

Take the money and retire, or;
Take the money, stop and re-evaluate how you are trading and understand how you have won it, before risking it all again.

Fun thread though.

:clap:
 
Signalcalc said:
I once went from £3K to £38K in 6 weeks, then promptly lost it all (and more) in the following 6 weeks, I suffered £17K drawdowns on the way up. The most I put on per point was £120.

Did I know what I was doing - did I f*ck, I didn't even know I was gambling either, for that was all it was - gambling.

Of course I now know better :cool:

I'm sure there are plenty of others that have gambled more and gambled less and won more and lost more.

If you know you are gambling, then fine, enjoy the ride, whichever way it goes, if you think you are trading and have made 10x or more your starting capital, then either:

Take the money and retire, or;
Take the money, stop and re-evaluate how you are trading and understand how you have won it, before risking it all again.

Fun thread though.

:clap:
Click to expand...

I think ya might have missed the bit about guaranteed stops, in the money, locking in a profit. This ain't out and out gambling, I think it's called, building a position and milking it if it runs.
 
counter_violent said:
I think ya might have missed the bit about guaranteed stops, in the money, locking in a profit. This ain't out and out gambling, I think it's called, building a position and milking it if it runs.
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I'm sure I saw a Brewski post where he stated he was gambling, and then he suffers a £2K drawdown last Thursday when the market had a wobbly.

Doesn't sound like trading a plan to me.

In fact isn't he investing, just riding the DOW starting with £850 now at £8K ? If it really went Pete Tongue on Thursday, then he could have been outa tha muney.

But abusing leverage is gambling, not trading, not investing for that matter either, hence the thread.
 
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Signalcalc said:
I'm sure I saw a Brewski post where he stated he was gambling, and then he suffers a £2K drawdown last Thursday when the market had a wobbly.

Doesn't sound like trading a plan to me.

In fact isn't he investing, just riding the DOW starting with £850 now at £8K ? If it really went Pete Tongue on Thursday, then he could have been outa tha muney.

But abusing leverage is gambling, not trading, not investing for that matter either, hence the thread.
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Looking at the entry prices , i'd say some of these trades have been running for 2 weeks or more. So sitting through Thursdays DD was probably DD into unrealised profit.

Perhaps Brewski can completely clarify the position.
 
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Yeah the first trade was taken on October 3rd so they have been running for nearly 3 weeks now, I never posted any earlier because everything I posted on here seemed to go wrong :LOL: the execution blotter shows the exact date and time of every trade. So the 2k drop was indeed from unrealised profit, Wednesday night showed me just over 5k profit but by Thursday morning I was down to around 3k.

I plan to just let it run as long as possible now however my stop is quite close, takes me a few months to earn £5300 so I’m happy whatever the outcome now (y)

It seems everyone’s viewpoint of trading/gambling/investing seems to be slightly different but I think the main thing is that I recognise exactly what it is that I’m doing.
 
Lee Shepherd said:
He's having fun and making money. People are free to label it as they wish. One things for sure, he's got balls the size of pineapples, I've seen them. :LOL:
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And that's why I made the point of saying this is a fun thread :clap:

But it's still interesting to hear if Brewski thinks he is still gambling or has 'progressed' into trading :smart:
 
brewski1984 said:
This.

You’ll see in my posts that my definition of trading is focusing on preservation of capital and my definition of gambling is focusing on how much I can win.

Anyway, £7600 profit now onwards and upwards (y)
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Im guessing you dont have a whole pile o unrealised mown the f*** down shorts dragging on them profits like some people round here brewski :D
 
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brewski1984 said:
Course not mate I’m no AverageJoe :LOL:
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:LOL: (y)

Just hopes n dreams keeping that coat on his back, cant dodge them margin calling blades forever :D

chris-the-sheep_3427388k.jpg
 
What a day (y)

Bit of a sell off happening right now but currently around £8500 profit (screenshot was a few minutes ago), my account value briefly flashed over 10k earlier... that's a serious amount of money for a regular guy like me.

I have moved my stop to 23200 (dec 17 contract not cash) which is around £6300 locked in. Plan to just leave it and ride it as far as I can.

As for when I get taken out, please don't be the guy that says "oh you idiot you could have got out 2k higher"... trailing a stop will always mean I will never get out right at the top
 

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brewski1984 said:
What a day (y)

Bit of a sell off happening right now but currently around £8500 profit (screenshot was a few minutes ago), my account value briefly flashed over 10k earlier... that's a serious amount of money for a regular guy like me.

I have moved my stop to 23200 (dec 17 contract not cash) which is around £6300 locked in. Plan to just leave it and ride it as far as I can.

As for when I get taken out, please don't be the guy that says "oh you idiot you could have got out 2k higher"... trailing a stop will always mean I will never get out right at the top
Click to expand...

I was thinking about this trade yesterday and where the trailing stop should be placed. I came to the same conclusion as you, 2 day TF swing lows back from current price (y)

If this trail stop trade can survive OCT, it may be possible to run it all the way through any santa rally.

Even better if you have favourable minor swings to work more scalps along the way.

As a point of interest, everyone knows what a trend day looks like, but you never hear people talk about trend weeks or trend months, same principle applies though.
One could easily make the case that this is a trend year!
 
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