No Rules - High Risk Capital Building from £3k

[episteme]

Had some success late last year turning a few grand into tweny thousand in a short period being really aggressive (gambling!). Didn't take it any further as I decided to take it our and buy a car. It was a great ride - the last trade came within 10 pips of losing the lot (17k) and back to the 20k within 2 hrs!

In a months time I'm going to be dedicating a lot more time to trading so I want to start with a bang and go for some quick money. If it goes wrong (and it could very quickly) then I will settle back to some boring trading.

So I'm going to record here the journey. OK so I started a week ago week and it's already at £5k so i've started ok, but from next week i'll post the journey if people ar einterested.

I'll be working during the day for the next two weeks so will only be trading evenings initially. I will be scalping mostly at the beginning aiming for 10-20 pips - probably risking about 10-20% per trade - but as I say there are no rules so I may even go all in at times.

This is the opposite approach to nearly all the advise on trading so lets see how we go ...

 

[shadowninja]

Awesome. Glad you recognised you were gambling and managed to get out while the going was good.

Good luck with round 2!

 

[Rossini]

Your not scalping if you go for 20 pips, but good luck, looks like you might need it ;-)

 

[wallstreet1928]

I would give your money to charity instead

reason?

you will feel much better when you give your money away

I seriously think you need to sit down and question yourself?

 

[Jason101]

Sounds a fun one to watch if you will be posting pretty graphs. (as my wife calls them)

Good luck.

 

[episteme]

Just want to point out that I don't really care (well I do but you know what I mean) if I lose the lot. This isn't my main trading capital or approach. However, that one isn't going to very interesting to share (or do really).

What I have realised is that if I am to spend more time trading (and i'm taking planned career break to get some perspective) then i will need something to keep me amused so that I keep the boring trading boring. So a high risk(gambling) account may be that something, and besides you need to diverisfy so a high risk/reward approach could be seen as part of that?!

 

[tomorton]

A refreshing level-headed approach. Make steady money with your main capital and use fun money each year that you can increase or blow away. Any worthwhile strategy benefits from a 'safety valve' that allows disproportionate excessive gains when they come along.

 

[wallstreet1928]

Just want to point out that I don't really care (well I do but you know what I mean) if I lose the lot. This isn't my main trading capital or approach. However, that one isn't going to very interesting to share (or do really).

What I have realised is that if I am to spend more time trading (and i'm taking planned career break to get some perspective) then i will need something to keep me amused so that I keep the boring trading boring. So a high risk(gambling) account may be that something, and besides you need to diverisfy so a high risk/reward approach could be seen as part of that?!

OK if that's the case,

then let the games begin ......

I do something similar my friend but only with profit. I took 6 months of my profits(not my capital but profits ...very important to differentiate)

So i started with £10k, those people that know me at my website have heard of my wallstreet1928 gold hedge fund..hehee!!

I have been buying gold at every dip very heavily , and the fund is up to £25k within 3 months

so it can be a success story , but very important to utilise profits only and then compound it !!

So I will be an avid follower my friend and wish you the best

 

[episteme]

I think once I hit £13k I will pull the 3 out and then only play with profits. I think I may then use that 3 to start another account on the same basis as yours. i.e I will look for a long term opportunity that I can pyramid into. If we get there I will also share that as it again will be interesting.

One thing I also want people to know is that I am aware that I will be breaking almost every trading rule on this account - which is why I think it will be an interesting experiment. So I shall probably take my profits early, probably hold my losses far longer than I should, risk far more of my account than is healthy and no doubt have an appalling risk:reward.

 

[wallstreet1928]

episteme my friend ,

I think you will soon find this thread to be amongst one of the most popular on trade2win

 

[shadowninja]

It can work if you get a few lucky trades. To extend your chance of a lucky run, you could take your £3k and divide it into 3 x £1k accounts. So you get 3 lives, of sorts.

 

[timsk]

I think you will soon find this thread to be amongst one of the most popular on trade2win

. . . and quite possibly one of the shortest!
I think threads like this one need a little warning badge - a sort of T2W equivalent of the government health warning printed on cigarette packets. WARNING - this thread could seriously damage your wealth.
Good luck with it anyway!
:cheesy:
Tim.

 

[Black Swan]

episteme my friend ,

I think you will soon find this thread to be amongst one of the most popular on trade2win

Ya think? Not sure what merits/constitutes a most popular thread on T2W anyhow, but I'll predict a quick death both of thread and capital...pointless hubris IMO...not a thread (or gamble) I'll pay any attention to...

 

[dealer911]

Like your style.. best of luck with it.! I tried something similar a couple of years back.. I had a reasonably good strategy that was proving consistent but the wild gambler in me was a bit bored so i split my account and used some of it just for punting..I lost my punting money pretty quickly! I found it hard to punt and trade sensibly at the same time..it messed with my head and it did not work for me.. i took up backgammon instead!.. 50% luck 50% strategy (just like trading!).. http://www.gammonempire.com

 

[wallstreet1928]

very true black swan, but at least the chap is honest and not out to con us all with his so called 2000% return like some of the other threads on trade2win

its a shame because trade2win use to be a good source of information but now its being over taken by spammers

so thumbs up buddy

 

[Prawnsandwich]

Isnt the whole point of trading supression of the urge to gamble, controlling those dangerous emotions....and getting excited at the thought of taking wild punts is proof that you havent accomplished this ?

 

[counter_violent]

Had some success late last year turning a few grand into tweny thousand in a short period being really aggressive (gambling!). Didn't take it any further as I decided to take it our and buy a car. It was a great ride - the last trade came within 10 pips of losing the lot (17k) and back to the 20k within 2 hrs!

In a months time I'm going to be dedicating a lot more time to trading so I want to start with a bang and go for some quick money. If it goes wrong (and it could very quickly) then I will settle back to some boring trading.

So I'm going to record here the journey. OK so I started a week ago week and it's already at £5k so i've started ok, but from next week i'll post the journey if people ar einterested.

I'll be working during the day for the next two weeks so will only be trading evenings initially. I will be scalping mostly at the beginning aiming for 10-20 pips - probably risking about 10-20% per trade - but as I say there are no rules so I may even go all in at times.

This is the opposite approach to nearly all the advise on trading so lets see how we go ...

Ok would this be better in the journals section then ?

 

[tomorton]

episteme - get right on with it, and good luck to you. You have already set out that you have other ources of income at lower risk, and that the mony set aside for use as per this thread is expendable. If there is only a 51% chance of making only a 100% profit, you should go ahead. Just don't let your savings get sucked in.

 

[Prawnsandwich]

episteme - get right on with it, and good luck to you. You have already set out that you have other ources of income at lower risk, and that the mony set aside for use as per this thread is expendable. If there is only a 51% chance of making only a 100% profit, you should go ahead. Just don't let your savings get sucked in.

It still means that there is an urge to gamble or that gambling is seen as exciting as opposed to "boring" proper trading , and that urge is being cultivated, even with a small account.......


Im sounding fairly boring myself amn't I !

 

[shadowninja]

It still means that there is an urge to gamble or that gambling is seen as exciting as opposed to "boring" proper trading , and that urge is being cultivated, even with a small account.......


Im sounding fairly boring myself amn't I !

But we all know this is about gambling for a giggle.