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sonofcablemonster
No thanks as there is no upside for me and potential downside. You carry on trading in your bedroom for chump change. Jog on.
IG Or ETX Or Capital Spreads???
- Thread starter JustSpreadBetting
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No thanks as there is no upside for me and potential downside. You carry on trading in your bedroom for chump change. Jog on.
yeah, a lot of attitude from this "Dow jones" fellow, folks.
Btw, I love the "95% of retail lose money" regurgitation of that completely made up statistic. As for Calling people "ignorant" (the first time on this forum for me, lol) and then trotting out *that* baseless statistic takes some neck... need I say more?
Btw, I love the "95% of retail lose money" regurgitation of that completely made up statistic. As for Calling people "ignorant" (the first time on this forum for me, lol) and then trotting out *that* baseless statistic takes some neck... need I say more?
Pondlifedregsbutler
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As I'm sure you already know I'm not one to stir up trouble but the pm I just had from Dow Jones indicates that you should expect to get a good old fashioned ass whooping from him shortly.
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peak, believe me the market will be a lot tougher on you than I will
I just checked your user profile and saw this "...I rarely use stop losses..." - on that quote alone, yes you are ignorant of how to trade.
I look forward to you proving me wrong by posting several winning trade statements from your spread bet account.
Sure sure.
I withdrew just over 2 this week. Oh, and if you think I know nothing, then you are welcome to believe that meant a paltry £2.
Pondlifedregsbutler
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Statements ladies, until then uz all walts...
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sonofcablemonster
Oh please dry your eyes and run to mummy. Poor Walt got his pecker chewed off by a bucketshop? As you have been told IG is fine for swing trading end of. If you are pro then obv use DMA. You are making a right fooktard of yourself arent you.
Go argue with the other Walt or Mr 60% pew week retard.
P'S plenty of prop traders don't use actual stops but you wouldn't know that. To55er
Hi, JustSpreadBetting,
With a £380 account I would say you need a micro account, so you could employ some risk management, otherwise you will be looking at spending at least 10% per trad and very likely will soon blow out all your account.
GKFX do from trades from 10p pip.
With a £380 account I would say you need a micro account, so you could employ some risk management, otherwise you will be looking at spending at least 10% per trad and very likely will soon blow out all your account.
GKFX do from trades from 10p pip.
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sonofcablemonster
it seems you have a lot of time on your hands and are suffering with quite a severe narcissistic personality disorder. All the above is correct, been working 14 years in asset management which is my main 'job' and trading my own account for the last 7 years including 2 prop firms. The £160 was a bucket shop freebie which was supposed to be fun.
What is your beef with SBs? Why are they not ok for swing/position trading? It seems as if a number of other experienced traders agree with me here.
Ho hum you get all sorts on tinternet.
PS if you think all prop traders are profitable you are mistaken.
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sonofcablemonster
Yes because arguing about this % is a good use of time.
@ Dow Jones. No. But with all respect to the man, I would take the side of the University of London's John Cass Business School's study over his alleged finding that 92.5% fail. And even so, that isn't the same as your made up statistic of 95% either. Nice try.
You can twist my words any way you like, as your type tend to do, but everyone else can see that I quoted a legitimate study by University of London which took into account Spread-betting success & failure. The figure that they arrived at after extensive and diligent research was that 80% fail and that accordingly 20% of spread-betters do not fail.
What's more their study's results were sound enough for the UK's Money Advice Service (set up by the UK gov) so they're, without disrespect to others' arguments, good enough for me; and, I would take it too that most people would agree their finding is to be respected. If Mr. Forman ever sees this post, it would be very interesting to read how his analysis was such that his results differed so markedly to theirs.
Meanwhile your ill considered rehashing of an unfounded, and completely made up statistic, (i.e., that 95% fail) is again, and of course, utter nonsense. You may disagree with me, but maybe one day you'll realise when you call others "ignorant" etc., you'd be wise *not* to present yourself as ('exactly the way you have done') in your remarks.
You can twist my words any way you like, as your type tend to do, but everyone else can see that I quoted a legitimate study by University of London which took into account Spread-betting success & failure. The figure that they arrived at after extensive and diligent research was that 80% fail and that accordingly 20% of spread-betters do not fail.
What's more their study's results were sound enough for the UK's Money Advice Service (set up by the UK gov) so they're, without disrespect to others' arguments, good enough for me; and, I would take it too that most people would agree their finding is to be respected. If Mr. Forman ever sees this post, it would be very interesting to read how his analysis was such that his results differed so markedly to theirs.
Meanwhile your ill considered rehashing of an unfounded, and completely made up statistic, (i.e., that 95% fail) is again, and of course, utter nonsense. You may disagree with me, but maybe one day you'll realise when you call others "ignorant" etc., you'd be wise *not* to present yourself as ('exactly the way you have done') in your remarks.
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sonofcablemonster
Seems we both have a lot of time on our hands
So your CM profile says you are a full-time trader, yet here and in other threads you agree that you are not. Above you say that you have traded your own account for 7 years, yet on another thread you state: "I entered the game in August 2008 so I am 4 years in." (JAN 18, 2013). Shortly after you state you have stopped trading. http://www.trade2win.com/boards/trading-journals/164402-anyone-trading-cable-2013-lets-roll-41.html
What's with all the inconsistencies?
Also as trading isn't (and hasn't been) your main job, how did you work for 2 prop firms? Just curious...
Let's actually look at what I said at the start of this thread regarding SB firms: "If you wish to day trade I'd avoid all SB firms..." So why are you repeatedly trying to make this into a rant about swing/position trading? Also you are extremely derogatory of SB firms yourself in numerous other threads... again very inconsistent.
I don't believe I mentioned anywhere that all prop traders are profitable. But feel free to join peakoil in putting more words into my mouth lol.
Sorry yes it's 6 years since 2008 when I started trading seriously not 7. I did also do some trading in 1999 but didn't realise anyone was counting lol. I put 'job' in quotes as it's not a 9-5, I own the asset management firm so most days I trade from my office a couple of hours a day. I am not required to be present anytime as it's my own business. i have worked at 2 prop firms mainly remotely but some trading on floor. As for stopping trading are you serious? All traders will go through bad patches where they need a break/refocus.
I have criticised SBs in the past and rightly so for their aggressive marketing to newbies. I repeat though they are fine for longer term positions. I came to this thread as you were being a to55er to peak oil implying he was ignorant. You or I don't know him so that was wrong. What we do know (along with all the other readers) is that you were out of order and sound like a complete tool.
PS are you trader #7 by any chance? You sound like that banned Walt who had mental issues.
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random12345
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CM has been hitting the Blue Nun a little hard lately, but he knows his alphabetti from his spaghetti when it comes to trading and if sober. Big if.
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sonofcablemonster
random12345
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Yes fell off the wagon again. I see you have been Walt crushing again.
Yes mate, for the last time I think... had enough of it.
If people prefer the idea of making a million dowwar by starting with a few grand and constantly generating unheard of returns to a proper and comprehensive business plan then more power to them. If they think they can do something that has never been proven possible in the modern era then they need more than I can offer them in terms of advice.
Instead of considering a reasonable return on reliable capital under their control, inflation adjusted drawings on a 10 yr basis, software, tax, contingencies, capital repayments as they arise, working capital generation, then they can write down the number £5,000 with a little pencil arrow to £1,000,000. Business plan = done.
Instead of factoring in the reality of seed and AUM scaling later in their careers and how 20% on a realistic initial seed might look like to them, plus 2% back to the introducing firm then they can just take that £1,000,000 and draw an arrow to a very nice mansion they saw in Hamptons estate agents.
Job done and fck em.
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sonofcablemonster
Nah. It's in your blood. I reckon you secretly like Walt bashing you will once again drink from the chalice. Bwahah hah haha hahah (whilst stroking white cat).
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sonofcablemonster
It is 6 yrs since 2008, but you started Aug 2008, and took a break in 2013. So you haven't traded 7yrs, or 6yrs, maybe 5ish yrs... Still fck it, it's only numbers eh CM - no need to be accurate regarding maths with trading
Again, my reference at the beginning of this post did not mention long-term positions - it referenced using SB'ing for day-trading. Maybe it's easier for you to argue by ignoring facts...
Finally, back to 'peakoil' - again, read the thread - he started attacking me and taking my words out of context. (I was asked what is a decent broker by another reader, and replied to that comment). Yes, then I became impatient and called him ignorant - you two have called me far worse. So that makes me the walt with mental issues? Ok whatever. lol.
You have a good day trading on Monday, CM. I know I will
I think it's safe to say we won't ever be friends. Thank you for confirming how long I have been trading that's nice of you to keep my diary for me. Thanks. Nice chat.
