DionysusToast
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so far the cheapest I've found is £30 a night.
I shudder to think what a 30 quid flophouse in London would be like.
I'm itchy at the very thought of it.
Pony up you tight ******!
so far the cheapest I've found is £30 a night.
I shudder to think what a 30 quid flophouse in London would be like.
I'm itchy at the very thought of it.
Pony up you tight ******!
Yeah sod that !
:idea: We could all pile round Robs
and he does a mean baby elephant salad!
Hiya Rob,
I'll post up a thread about a meet up in London soon and see if we can get a decent group together, normally a lot of people say they'll go then don't turn up, I don't want to be the lonely guy at the bar paying for party girls to keep me company. Just looking round for some hostel I can stay at, so far the cheapest I've found is £30 a night.
Lee
Jesus CV - I forgot about that. Wasn't that the same week I invented the Chicken Tikka Masala and thought I was a culinary genius?
Incidentally the Mrs and kids are off again this summer for 4 weeks this time so christ knows what I will end up cooking......
@Lee - £6k profit cleared for last month and you'll only pony up £30 for a fleapit :whistling
I'm not going to do any running commentary about how I did this and how I did that nor will I comment on how I did what I did when I did. I’ll just put it down to being lucky, the bottom line is just that, the bottom line and that’s all that matters. I think most of us are pretty bored of hearing what’s what etc, especially when we have our own trades to concern us about. Statements speak for themselves so I have posted mine for reference.
Keeping the journal up to date as best I can but more importantly showing my hand (as best I can), see the following attached for last month’s trades – to keep in with last statement it is dated from 28th March through to and including 30th April 2013.
Total trades = 22
Hi Lee,
I am a relatively new (and spectacularly unsuccessful) trader; I've come into this primarily because I need to find a new income stream and £6k a mnth would do me very nicely, thanks very much.
However, no-one said it would be easy, despite the fact that there appear to be hundreds of opportunities to make significant dosh every day. Even more apparent is the slipperyness of the market in that, as soon as one enters a trade, the bugger runs the other way! But then I guess most people have been there at some stage.
OK, what I don't understand is the reason for your Blog and please don't take this as a criticism, but if it is is primarily to say; "look at this, I'm making piles of dough and this is my diary, suckers", than that's perfectly OK, everyone's entitled to do that when they're winning.
However, if it is also intended to inform and help newbies as well as keep in contact with your mates across the industry then it doesn't and just frustrates. (We all like to be involved when we're gaining but feel ostracised when not).
So I suppose I'm looking for advice really. I initially went on a Learn2Trade course and, whilst extremely useful, is a seriously expensive way of learning and they, as a company, are designed to leech more and more cash from their 'customers'. Regardless of the fact that I do keep records and interrogate every trade, win or lose, afterwards, I am still making poor decisions both on entry and exit (tending to be an intraday trader) and consequently losing more than I'm winning.
How do I advance my knowledge and change the shape of the graph?
(I think that anything other than 'f*uck off' would be a bonus here )
Wins = 14 @ £9,096.28 average of £649.73
Losses = 8 @ £3,559.43 average of £444.93
Biggest win = £2,231.04
Biggest loss = £824.19
Win rate = 63%
Trade ratio = 1:1.75 R/R
Monetary ratio = 2.55
Net = £5,536.85
PS: Don’t forget to take out or the black swan will fly away with it all
Unfortunately I cannot be as transparent as I would like to be so same as usual I'm afraid when it comes to screenshots - a lot of the data has been removed as certain levels may still be in play.
I've already got some trades built up and stacked for this coming month but as yet have not hit the exit areas so are still in play. NB: These could still produce a loss as most are not locked in yet for profit, although most are locked in for a small loss and/or break even.
PPS: I am expecting drawdowns in June so that will be a good month to see how losses in particular are handled. Although not yet set the drawdowns are expected to be as potentially high as £2k, this is due to the stop areas I have set for the target markets in play.
Lets see what this month brings and always remember that today's trade could be the start of a potential bad run that wipes us out. Having this in mind should help to keep the feet grounded at all times.
Cheers,
Lee Shepherd
With regard to your quote below:
I'm all ears. What's your point?
I think his post is lost in the middle of the quote.
Hi Lee,
I am a relatively new (and spectacularly unsuccessful) trader; I've come into this primarily because I need to find a new income stream and £6k a mnth would do me very nicely, thanks very much.
However, no-one said it would be easy, despite the fact that there appear to be hundreds of opportunities to make significant dosh every day. Even more apparent is the slipperyness of the market in that, as soon as one enters a trade, the bugger runs the other way! But then I guess most people have been there at some stage.
OK, what I don't understand is the reason for your Blog and please don't take this as a criticism, but if it is is primarily to say; "look at this, I'm making piles of dough and this is my diary, suckers", than that's perfectly OK, everyone's entitled to do that when they're winning.
However, if it is also intended to inform and help newbies as well as keep in contact with your mates across the industry then it doesn't and just frustrates. (We all like to be involved when we're gaining but feel ostracised when not).
So I suppose I'm looking for advice really. I initially went on a Learn2Trade course and, whilst extremely useful, is a seriously expensive way of learning and they, as a company, are designed to leech more and more cash from their 'customers'. Regardless of the fact that I do keep records and interrogate every trade, win or lose, afterwards, I am still making poor decisions both on entry and exit (tending to be an intraday trader) and consequently losing more than I'm winning.
How do I advance my knowledge and change the shape of the graph?
(I think that anything other than 'f*uck off' would be a bonus here )
Hi Devonsent,
Firstly, I do this blog to show my hand. Thats it in a nutshell. This way when I meet people they know who I am and not some wannabe guy claiming to make a good buck or two. I am the real deal, although not a very rich one. lol, but I do make money.
Secondly, if you are coming in to this business to make money, YOU WON'T.
Plain and simple.
You go to work to earn money or buy scratch cards to win money, however, you don't start up a business to make money (primarily). You do it because of the love or passion. This has to come above the cash otherwise you will only ever focus on this one thing and that's bad news.
Dont worry, you are not alone in this camp, many come to make money, most lose and fail consistently. If you are passionate about trading then you will help yourself, no one can do this for you nor can they show you the golden route, it doesn't exist.
If you want my help then I will give you this, if you feel truly passionate about this business then I will guide you until I'm bored. I will know very quickly if you are true or not so please put me to the test, I enjoy it.
PS: Have a read of my next month (in a few days) blog. That will bring a little realism to your dreams. I gave the Dax £5.2k in one day, my losses this month are now around £1.2k. So, its not all roses. Better still I am expecting losses next month in the same regional figure. Money management goes beyond just what you have on your brokers account.
If you want, skype me.
and PS: Fill out a little more on your profile.
Lee
Secondly, if you are coming in to this business to make money, YOU WON'T.
Plain and simple.
You go to work to earn money or buy scratch cards to win money, however, you don't start up a business to make money (primarily). You do it because of the love or passion. This has to come above the cash otherwise you will only ever focus on this one thing and that's bad news.
That's you opinion only and one that might apply to you but does not apply to many entrepreneurs around the world.
Many people start businesses to make money. Sometimes people see an opportunity and it's too good to pass by.
Most prop traders I know that went prop got into it purely because of the money. Some failed and some succeeded.
Just because you are passionate about trading does not make it a pre-requisite. In fact, I would say that being addicted to trading and not being able to get your mind off it is a curse, not a blessing. Look at old Dante - sleeping next to his screens and waking up at 3am to check them. Sure, that's passion but it's also an obsession.
Lee,
Thanks so much for a reply that is far more measured and helpful than I, perhaps, had any right to expect. I shall go and add stuff into my profile in a minute but, if I may come back on a coupleof your points first . . .
People like Sergei Brin, Mark Zuckerberg or Dave Hewlett stared up companies either because of a passion for their work or because they wanted to get laid and these seemed the best ways to do it. Most of us, myself included, started up companies because we need the money and couldn't think of a simpler way to make it. I started my own company in 1987 and ran it, very successfully, for almost 23 years until it folded due, in the main, to a massive change in technology that I couldn't afford to invest in - that and the fact that we'd spent all the retained profits!
So I looked around at what I could do as I am probably less than easily employable by the majority of relatively short-sighted HR departments. I happened upon forex trading almost by accident and was absolutely gripped by it and I say this not as a gambler; I am not and never have been so it was not the 'thrill' of the bet that kept me in it but the enjoyment and the quite obvious opportunities. It annoys me that, every day, every hour, there are hundreds, thousands of pips just waiting to be taken and I have to continually rein myself in to examining just a few of the pairs; watching, examining and waiting for the right moment - which I almost invariably get wrong because I've either waited too long and it reverses or I've mised something obvious, like a bloody great resistance looming just up the road.
I think that, right at the moment, getting more trades right than wrong is far more important to me than making a a huge amount of money, though I'd be a liar if I suggested that I wanted to do this simply as a hobby - eventually, I need to make money from it and I wouldn't believe anybody who said that they were in it simply for the 'fun'. It's not bl**dy rugby, it's only fun if your winning though I accept that losing is as much part of the experience - I'd just prefer it wasn't the major part.
I would dearly love the help of an experienced trader who isn't going to want to charge me a million quid a day to 'explain' where I went wrong but who could offer advice, so I'd love to take you up on your offer - although, at very much the wrong side of 50, Skype is still a bit of a black art to me so I'll have to check it out properly. If it lasts until you get bored, then I will at least have learnt something (I hope) to take forward.
Tell me how I can contact you outside this.
Phil Stringer
Hello mate,
I have great respect for you as a person and as a vendor so I'm not going to argue this point with you. Maybe another time
You are of course right in many ways and I'm sure you can find examples. However, I tend to go by the mass majority and in that I (and i'm sure you'll) find is that most come into trading as a means to an end for something else. This involves the money and is one of the main reasons (often sole reason)why people enter and fail.
This is the psychological part that screws people over.
Anyway, I wont discuss this anymore with you bud as there is no definitive end, its just an observation based on personal findings.
Lee
I'll not pretend to be a guru of trading because I'm not. Lee has a good cred as a trader here and is probably not too worried by what seems to me to be huge losses, as above.
To have lots of practice and get up some confidence may I suggest what I have done - and that is to use MT5. You can test yourself on the real markets and only risk pennies. They have good charts etc. and all for free. If you are a programmer then even better.
Anyway, as some of my previous (vented) posts in the month of May stated, I had a good losing month. The dax alone took me for over £5.2k. Dam these meerkats.......