My, €4.1k to €227k in 2 years, journal.

[Benj1981]

Anyone else think for every Leeson that gets caught out there's prolly 50 playaz out there snatching up Ferraris?

Anyway didn't Leeson only loose 'cos of act of God in Japan?

Thats the thing scose - yh u hear about guys like lesson blowing up (and he did deserve 2 after all that sellotape and scissor action ), but there must be maybe 25 imo, not 50, guys coinin it in buyin the lambos and ferraris. Summat to think about when ur PMA leves are low.

Gotta admit, he was so unlucky with the earthquake!! IF that didnt happen we'd probly hear him bein the highest paid trader ever on the front page of the SUN.

GTTY.

P.S - still remember not to oversize trades - like kimo pointed out.

 

[Benj1981]

Silver update:

Bought more silver on fri afternoon - bit onside at mo, dunno if it'll keep going tho for me to make any money on it, we'll see.

Put £2400, basiclly half my capital into only trading silver.

 

[Shakone]

Thats the thing scose - yh u hear about guys like lesson blowing up (and he did deserve 2 after all that sellotape and scissor action ), but there must be maybe 25 imo, not 50, guys coinin it in buyin the lambos and ferraris. Summat to think about when ur PMA leves are low.

Gotta admit, he was so unlucky with the earthquake!! IF that didnt happen we'd probly hear him bein the highest paid trader ever on the front page of the SUN.

GTTY.

P.S - still remember not to oversize trades - like kimo pointed out.

He'd have blown up, earthquake or not, only a matter of time. It's pretty much irrelevant whether it was an earthquake, no news at all or world war 3 broke out. You have to react sensibly to what price is doing, and he didn't, and preferred to fight the trend and add to losers.

I like the film.

Benj, I haven't been following from the beginning. How are things actually going in terms of the thread aim?

 

[Lee Shepherd]

Thats the thing scose - yh u hear about guys like lesson blowing up (and he did deserve 2 after all that sellotape and scissor action ), but there must be maybe 25 imo, not 50, guys coinin it in buyin the lambos and ferraris. Summat to think about when ur PMA leves are low.

Gotta admit, he was so unlucky with the earthquake!! IF that didnt happen we'd probly hear him bein the highest paid trader ever on the front page of the SUN.

GTTY.

P.S - still remember not to oversize trades - like kimo pointed out.

Nick Leeson was a criminal short and simple. Even if he'd got away with it he was dealing fraudulently.

People need to note one main thing here:

NICK LEESON WAS NOT A TRADER - HE WAS A BROKER

(although he did hold title of chief trader which helped in his getting away with it for so long)

He was sent to Singapore as he had already committed fraud in the U.K and was denied a brokers licence.

Traders do not speculate in this way. This was gambling pure and simple.

IF he had of gotten away with the last event then there would simply of been another one and so on, in principle it was unlikely he would have stopped. This was evident over the several years he was constantly running unauthorized positions.

We must also note that although the film is a great example, does not tell the real truth and is hyped up by Leeson himself and the film makers. The film's material was derived from Leeson's book he wrote in prison, naturally he's going to make himself look in the best possible light as he wanted to be released and there was much speculation about him stashing cash in various accounts.

NOTE: It wasn't the quake that killed his trades, he popped several weeks after as he kept buying up the market in the hope it would rebound.

Regards,

Lee Shepherd

 

[Benj1981]

Benj, I haven't been following from the beginning. How are things actually going in terms of the thread aim?

Hi Shakone - thanks 4 the Q.

Basically, i think im only going to trade just under half my money, £2400, on silver. Im gonna keep the other half for an emergency!!

There4, my thread should have a new title really:

My, £2.4k to £191k in 2 years, journal.

anyway, so far im up £1771.38, which is +73.3% on starting capital

2 trades done, in a 3rd

 

[kimo'sabby]

@Benj. I like this thread buddy, it's nice and relaxed and anything goes. Nice silver trade! I actually think you will do well because you are calm and relaxed, and that my friend, is very important to a trader.

GTTYS!

 

[Benj1981]

@Kimo. Thanks buddy. Yh im tryin to stay calm and focused bcoz like u sed, gotta relaxed at all times to be a good trader. Glad u like the thread BTW, your contributions are adding to it 4 sure!

GTTY.

P.s - what does "GTTYS" mean?

 

[Benj1981]

good start

where do you place your stop loss

would be good if there is another thread just to log your trades - in and out

Thanks samirs - welcome back.

Stop loss depends where i think theres support/resistance - basiclly it varies but ii risk a fixed %, and yes, its big

not gonna do trade logs on another thread soz, just gonna update 'em here when i get the chance. ill do screenshot so u can see progress and will say how many trades i done etc.

GTTY.

 

[kimo'sabby]

@Kimo. Thanks buddy. Yh im tryin to stay calm and focused bcoz like u sed, gotta relaxed at all times to be a good trader. Glad u like the thread BTW, your contributions are adding to it 4 sure!

GTTY.

P.s - what does "GTTYS" mean?

Good Trading To You Sir! (nothing derogatory - gotta stay poz)

 

[Benj1981]

does anyone know if its poss to change the title on a thread u start?

 

[neil]

Hi Shakone - thanks 4 the Q.

Basically, i think im only going to trade just under half my money, £2400, on silver. Im gonna keep the other half for an emergency!!

There4, my thread should have a new title really:

My, £2.4k to £191k in 2 years, journal.

anyway, so far im up £1771.38, which is +73.3% on starting capital

2 trades done, in a 3rd

Were you this benji over at Forex Factory in another life ?


benji533's Profile @ Forex Factory

 

[Benj1981]

Were you this benji over at Forex Factory in another life ?


benji533's Profile @ Forex Factory

no neil its not. But is this you pre-t2w (2nd from right)? :

 

[neil]

no neil its not. But is this you pre-t2w (2nd from right)? :

No-I am far left

 

[kimo'sabby]

STFU - Dennis Leary - YouTube

This is for all the negative whingers.

 

[R.Charnock]

Silver update:

Bought more silver on fri afternoon - bit onside at mo, dunno if it'll keep going tho for me to make any money on it, we'll see.

Put £2400, basiclly half my capital into only trading silver.

As I'm too lazy to go through teh thread again, can you tell us what your overall position is now. And what is your strategy, if you don't giving away any HGs?

 

[Benj1981]

As I'm too lazy to go through teh thread again, can you tell us what your overall position is now. And what is your strategy, if you don't giving away any HGs?

Im not pyramiding positions in silver, only 1 open at a time, long or short. Currently long 1830 units.

Prefer not to go into details of strat for obv reasons, but basiclly just buying strength and selling weakness.

GTTY.

P.s - shud add charnock - laziness and gud trading aren't best buddies

 

[Benj1981]

ok ok, ive had a few msgs on here from people wantin to know how im up and trading a strategy complete with money management so quick - i got a confession :whistling, these silver trades im gettin from a very experienced trader - cant say more than that for now. he might be revealed at a later date but im keepin schtum, otherwise he might not give 'em to me anymore .

so basiclly if any newbies r thinkin of doing the same betting as much as i bet + tradin 1 of the quickest (aka - most dangerous) markets after so short a time...a few words 4 U:

DON'T DO IT!!!!

GTTY.

It is very unlikely you will be able to replicate Benj1981's results, and Benj1981 will not be liable for any losses that occur as a result of copying his trades, or reading his informative and cool journal.

 

[Big Stones]

ok ok, ive had a few msgs on here from people wantin to know how im up and trading a strategy complete with money management so quick - i got a confession :whistling, these silver trades im gettin from a very experienced trader - cant say more than that for now. he might be revealed at a later date but im keepin schtum, otherwise he might not give 'em to me anymore .

so basiclly if any newbies r thinkin of doing the same betting as much as i bet + tradin 1 of the quickest (aka - most dangerous) markets after so short a time...a few words 4 U:

DON'T DO IT!!!!

GTTY.

It is very unlikely you will be able to replicate Benj1981's results, and Benj1981 will not be liable for any losses that occur as a result of copying his trades, or reading his informative and cool journal.

A trade2win bod?

 

[Benj1981]

A trade2win bod?

no hes nothing to do with this site, in fact he thinks all trading forums are a pile of sh1te . When i was at a 'come dine with me' (not on tv - just for fun) party wiv the missus, i mentioned my challenge and journal on the net..one of the guests there sed she knew a trader, so i sed "oh yeh? any chance i cud meet him pls?" She sed, "yeh ok, ill call him and give him your digits." I sed, "kool, thanks!" Rest is history....

GTTY BS.

 

[rsh01]

P.s - shud add charnock - laziness and gud trading aren't best buddies

yes v good point. look at you, done thousands of hours of reading/research, devised your own strategy, done shed loads of backtesting then live fwd testing, a tweak here a tweak there, & now a fully fledged trader trading your own trades etc etc.

i got a confession :whistling, these silver trades im gettin from a very experienced trader - cant say more than that for now.

eh?...oh.