Heads Up - ETX 100 quid

gamma said:
Well guys, I don't know!!
When capital spreads were offering the 70 pound offer, I had a a similar argument put up.
With such a small amount and minimum bet size its very difficult.
The whole issue here is timing, as far as I am aware you do not have to place your trade as soon as the money is credited to your account.wait and time your trades.
I managed to turn capital spreads bonus into a decent amount.Not without a lot of hard work and stress.
I have opened a etx account to see if I can repeat the experiment.
I will publish the results of my endeavor here once completed , with the help of the Powers that may be.
Click to expand...

Well I have completed experiment with this endeavour .I had decided to work on this account for a month The reason for the early close is I am away tommorrow and will not be back until wednesday and do not want to leave any positions open while away.
It has been just under a month since I opened the ETX account and had the promotional money credited.

The object of the exercise was to show that if you are patient and plan your trades and use effective money management you can suceed at this business.
The profit might not be considered brilliant by some but for newsbies starting out and those who consider that that are some dangerous views on this thread it shows you do not need large amounts of money to start trading you can start small and build up.

I hope the attachment can be viewed if not please contact me and I will send anyone a screen shot.
 

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Good work Gamma.

Just taken my first trade on the ETX account, this mornings break of Cable, nice to start with a 70% gain!!!! bet they won't all be like that

(risking 20 pips at 50p/point not betting the ranch obviously 10% risk is not good but thats the lowest you're going to get it starting with £100 realistically).
 
gamma said:
The object of the exercise was to show that if you are patient and plan your trades and use effective money management you can suceed at this business. The profit might not be considered brilliant by some but for newsbies starting out and those who consider that that are some dangerous views on this thread it shows you do not need large amounts of money to start trading you can start small and build up.
Click to expand...

Terrific example, nice work fella. :)
 
foredog said:
(risking 20 pips at 50p/point not betting the ranch obviously 10% risk is not good but thats the lowest you're going to get it starting with £100 realistically).
Click to expand...

Well you can close a part of the position straight away if you wanted and trade 10p/pip if you like. Obviously you'll potentially lose a little due to spread, but it would work if you want to trade longer term.
 
gamma said:
Look at post 126 its a brilliant example of good money management:)
Click to expand...

They're a clever person, wish I thought of that.

Well from your statements it looks like you started off 50p/pip? It's fairly high risk relative to account. Were you using tight stops? I'm not seeing the "effective money management" side yet.
 
Masquerade said:
They're a clever person, wish I thought of that.

Well from your statements it looks like you started off 50p/pip? It's fairly high risk relative to account. Were you using tight stops? I'm not seeing the "effective money management" side yet.
Click to expand...

Its more a question of how good your entry is, I don't actually like tight stops if you time your entry correctly you really should not have to worry about tight stops.

Effective money management is more to do with "Jesse Livermore " and his idea of testing the market by dipping a toe in first and adding or closing positions as and when required.Effectively what you said earlier on about adding or taking away from a position
 
gamma said:
Its more a question of how good your entry is, I don't actually like tight stops if you time your entry correctly you really should not have to worry about tight stops.
Click to expand...

I'm struggling with the logic of that.
 
gamma said:
I am glad to see someone else having issues with ETX
I experienced that last night and also noticed that the prices sometimes were way out not always to the negative.
Click to expand...

All my FX tickers are on "CALL ONLY", guessing there must be a price discrepancy. IGINDEX has had lagging charts since last night, dunno if they're having a similar problem but with their feed.
 
A woman with a pretty voice just called me and said there is a big problem and they will call me when it's fixed. At least they're courteous enough to call you and tell you not to bother until they've finished robbing you lol.

I initially thought that the technical problem was called release of US jobless claims after Big Merv gave us all a nightmare but if it's IG as well...They use the same feed don't they? That IT Finance. Probably all above board tbh. they seem like an OK company.
 
Well, wtf. Short at 14704 to get into the support. IG charts show 14785, i get stopped at 14711?

Should I call them for a poxy £10? Somethings wrong here.
 
Sent them an email, got a call back within 5 minutes. She just said it'll be fixed in 30minutes and if there was anything she could do for example give me a phone back when it's fixed. I'm guessing she wasn't a dealer as didn't offer a refund (which I implied with the email).

Bah. Screw it, I'll get it back on NFP next week and more.
 
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