free_money
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Sounds very promising. Which indicators are you using. MACD, RSI, stochastic??
Hi trendie
thanks for your comments yes the best way to describe it is smash and grab. often trades over in minutes. The ratio is not too far off 1:1. I believe it is best called scalping but i use a trailing element to maximise part of the trade if it goes a greater distance than the scalp. For instance i took an extra 40 points on tuesday by doing this
With decent volume you could probably get down to about $3 commission per contract, spreads are almost neglible, .25 on the S&P. Just add up how much you pay in spreads and youll see the difference. I dont have direct experience of trading the FTSE but for the US indices I'd never even consider spreadbetting.
With decent volume he could get to $1 round trip...
Hi all
didnt expect this sort of interest or response. Dont know where to start but here goes. First of all todays results 12 wins 8 losses 7 no trades with an overall result for the day of 66 points.It would have been much better but for two unlucky items . No1.what the hell happened at 1.30 i was 2 points away from another winning trade the direction was up and the ftse just plumeted down and took out my stop. No2, I was in a buy trade from the signal at 8.48 but the ftse flattened too quickly and my stop didnt hit until after the wonderful down signal at 9.10 so wasn't in a on a 40 pointer. Anyway its just the way it goes. So thats todays result. I will try to answer the other comments now and the rather surprising income comment.
I use ig or capital spreads and their graphs with a mixture of averages and directional trends. I have about 6 rules i have developed to take me into a trade or not. I dont use any special software. I only use the FTSE but am playing with using it on the DOW. It seems the more movement the better it works with the dow at double the ftse index it seems to work very well on the dow but have only tried it the last two days.
I have not in any way deceived or lied in anything i have said or data i have given. it is not for boasting or rubbing into people. I have found something and wanted to share what i was doing. It may be better to stop posting if people think this.
I would like to comment on the income side and clarify a number of things. I now do £10 a point but started with £1 a point and £200 bank. i found each 10 trading days i was more than doubling it. If you take the 20 points a day which i was averaging then at £1 a point thats £20 a day so in 10 days thats £200. So £200 became £400. I then went to £2 a day so keeping my percentages the same and was winning more than £40 a day most days. So you can see it was logical and mathematically obvious that the bank was increasing by 100% each 2 weeks. The person who said about £1M in x number of weeks is hyperthetically correct i suppose but i stopped at £10 a point. I am not a big risk taker but have disciplined myself to doing what was working even though on some occassions i did think of increasing it to make thousands a day. But this is still in test mode for me. Imagine having one bad day the day you decide to go for it big time. You could loose everything. My £8k a month simply came fro 400 points a month with a £20 per point bet which i believe is what the experienced traders do.
The next question was on futures i dont really know what this is as my trading has been limited to spread betting. I have heard of this but my way is simple i am comfortable with it so hadn't tried anything else. I realise i have made more than 400 points since monday which is £4k unbelievably but this is more than i normally make.
I dont yet know what im going to do with this but want to try it for a while. I must admit i am getting more winning trades than when i started as my data has highlighted some nice rules to apply. thats why you see quite a lot of no trades. So maybe thats why the points have increased. If people dont want me to post any more i will not but have had some very nice private messages on what im doing and asked me to keep them updated.
I see advertised top traders like Gohen? roxy trader, fx predictor etc that claim you can make hundreds of thousands of pounds if you use their system and they have data to prove it so it must be possible to make this kind of money. They claim much more than i have been making. I know i was nearly drawn into one of these.Anyway regards to you all.
Hi all
didnt expect this sort of interest or response. Dont know where to start but here goes. First of all todays results 12 wins 8 losses 7 no trades with an overall result for the day of 66 points.It would have been much better but for two unlucky items . No1.what the hell happened at 1.30 i was 2 points away from another winning trade the direction was up and the ftse just plumeted down and took out my stop. No2, I was in a buy trade from the signal at 8.48 but the ftse flattened too quickly and my stop didnt hit until after the wonderful down signal at 9.10 so wasn't in a on a 40 pointer. Anyway its just the way it goes. So thats todays result. I will try to answer the other comments now and the rather surprising income comment.
I use ig or capital spreads and their graphs with a mixture of averages and directional trends. I have about 6 rules i have developed to take me into a trade or not. I dont use any special software. I only use the FTSE but am playing with using it on the DOW. It seems the more movement the better it works with the dow at double the ftse index it seems to work very well on the dow but have only tried it the last two days.
I have not in any way deceived or lied in anything i have said or data i have given. it is not for boasting or rubbing into people. I have found something and wanted to share what i was doing. It may be better to stop posting if people think this.
I would like to comment on the income side and clarify a number of things. I now do £10 a point but started with £1 a point and £200 bank. i found each 10 trading days i was more than doubling it. If you take the 20 points a day which i was averaging then at £1 a point thats £20 a day so in 10 days thats £200. So £200 became £400. I then went to £2 a day so keeping my percentages the same and was winning more than £40 a day most days. So you can see it was logical and mathematically obvious that the bank was increasing by 100% each 2 weeks. The person who said about £1M in x number of weeks is hyperthetically correct i suppose but i stopped at £10 a point. I am not a big risk taker but have disciplined myself to doing what was working even though on some occassions i did think of increasing it to make thousands a day. But this is still in test mode for me. Imagine having one bad day the day you decide to go for it big time. You could loose everything. My £8k a month simply came fro 400 points a month with a £20 per point bet which i believe is what the experienced traders do.
The next question was on futures i dont really know what this is as my trading has been limited to spread betting. I have heard of this but my way is simple i am comfortable with it so hadn't tried anything else. I realise i have made more than 400 points since monday which is £4k unbelievably but this is more than i normally make.
I dont yet know what im going to do with this but want to try it for a while. I must admit i am getting more winning trades than when i started as my data has highlighted some nice rules to apply. thats why you see quite a lot of no trades. So maybe thats why the points have increased. If people dont want me to post any more i will not but have had some very nice private messages on what im doing and asked me to keep them updated.
I see advertised top traders like Gohen? roxy trader, fx predictor etc that claim you can make hundreds of thousands of pounds if you use their system and they have data to prove it so it must be possible to make this kind of money. They claim much more than i have been making. I know i was nearly drawn into one of these.Anyway regards to you all.
Thanks both for the advice i will take more notice of news items and check out these websites. I will also try to add a little more detail to the mechanics.The system is simple but very difficult to explain.