Ftse Professional Scalping

[SpreadDoctor]

Here's an update from his live trading room...

Strategy: average down with no stop-loss
Risk/reward today of MINUS 3:1
Money spent on spread exceeded profit

Well, I think you get the point...

hah. another one 'scalping' via a spread bet / dealer. The FTSE futures (Z) would give you a spread of 0.5 not to mention being able to add liquidity. :smart:

 

[Alexander Fleming]

It's even worse, he appears to be using a demo account, pretending it's real, using a method guaranteed to fail and then charging people to learn all this... jesus I hate the whole retail trading game...

Hi Dow Jones,
again, thanks for your input. really good to see what others think.

just wanted to clarify a few things for my own peace of mind really because at the end of the day, i'm using this set up with great results.

1. Dom does use a demo for back testing and does share it often encouraging everyone to have a demo to use when trading on our own with limited experience.

2. as you showed on your previous post, he has a live account (number was 2510......) and that was showing a balance of £56k from your snapshot so all good.

3. he doesn't charge anything for his service. it's subscription free so I don't pay him anything if i lose money. so the way i view this is win win i think to be fair to the guy.

4. at the end of the day he is trading the London open every morning using a combination of live and demo accounts to good effect because he clearly understands price action on the Ftse like nobody's business!

5. he has already mentioned the fsa dealings because he said he made mistakes and needs to be regulated to carry out certain business functions. hasn't denied it nor is it affecting my trading.

so my only real concern was initally nothing to do with this guy's excellent ability to trade the ftse. it was more to do with my appetite for risk vs reward as i have never been to disciplined when it comes to risk and money management. working on it though with the help of dom.

thought i should share this with anyone to say don't be put off and actually do just give him the benefit of the doubt as he rarely has a losing day, and i mean rarely

thanks
Alx
:smart:

 

[tar]

"because he clearly understands price action on the Ftse like nobody's business!"

"this guy's excellent ability to trade the ftse"

"as he rarely has a losing day, and i mean rarely"

Say hi to him

 

[timsk]

. . . This site gets worse and worse...

DJ,
What's all this got to do with T2W - or were you referring to another site?
Tim.

 

[Alexander Fleming]

No, it appears that you are being disingenuous and trying to promote Dominic Nardone here...

1. As I think you know, it was mentioned that these trades were all on a live a/c... the demo a/c's were not shown for back-testing, they were used to promote the trades in the live trading room. I know someone who went to the live room, saw the demo a/c number and trade losses. They also heard Dom stating (amongst other things) that he never used stops.
2. As I explained, the fxcm demo accounts have a 50k starting point - conveniently the a/c size Dom chooses.
3. You previously said that Dom charged you via a portion of your profits. I also know someone who emailed him and a discussion involving payment was had... oh, and I just found this on another thread: "...He gives you live entries and exits, then you pay him 30% of your profit through Paypal. The 30% I understand is based on taking recommended trade values of £3 per point, though he claims to trade his own positions at around £100 per point..."
4. If you think averaging down with no stop-loss is an "excellent ability to trade the ftse", then you are beyond help...
5. If someone is providing financial (trading) advice to people in return for payment, surely they should be FCA authorised - maybe I'll send all this info to the FCA and see what they think... oh and while I'm about it, I guess I should also pass the payment info on to HMRC.

This site gets worse and worse...

to be honest DJ, you do make plenty of sense so thanks for the help and advice.
won't say anything more on this subject as my focus is as only ever been on learning and continue to value the output from these chat groups

Cheers
Alx

 

[foroom lluzers]

I Like this thread

 

[foroom lluzers]

"because he clearly understands price action on the Ftse like nobody's business!"

"this guy's excellent ability to trade the ftse"

"as he rarely has a losing day, and i mean rarely"

Say hi to him

I too have my blinkers on , please be positive , I thought Barjon was making live calls on this thread , must get my blinkers off .look on another thread.

Tar I loath thee for finding geniuses

 

[foroom lluzers]

Long position good day 7449

Both Dax , Dow and also ftse positive

 

[foroom lluzers]

there

 

[foroom lluzers]

moved to breakeven

 

[foroom lluzers]

closing ahead of ecb + 30

too much distractions on other thread.

http://www.trade2win.com/boards/indices/120172-anyone-scalping-ftse-futures-10309.html#post2933866

 

[foroom lluzers]

Long ftse 7504

Vod and BT look positive

stop 7480

 

[foroom lluzers]

entertainment whilst trade on .

This trade can lose , so be mentally prepared for loss .

 

[foroom lluzers]

long ftse 7504

vod and bt look positive

stop 7480

-25

 

[piphoe]

entertainment whilst trade on .

This trade can lose , so be mentally prepared for loss .

lolol

 

[foroom lluzers]

This week's set and forget trade.

Target 70 ticks

 

[foroom lluzers]

This week's set and forget trade.

Target 70 ticks

this is my last post here in this thread .

The trade is now in profit.This is how professionals trade.They don't use stops , but use options

 

[piphoe]

pls continue trading ftse here...

 

[foroom lluzers]

pls continue trading ftse here...

I said I would not post , because over posting is upsetting those who cant.

 

[piphoe]

ahhh i did not know that