Please help 5 figures at stake - funny, stupid and dangerous - please look inside!

[tar]

I agree, but I think its his size more than points that got him 🤢

Yes ofcourse , but to open a thread after being offside just 50 points it indicates that he just started trading . If he insists on carrying on with trading he should slash his trades size by 10 or 20 .

 

[Splitlink]

The guy couldn't handle being offside 50 points on the DAX = He shouldn't be trading live for now .

His problem is his stake, probably. The 50 points can be digested if his account is managed properly but, like you say, he is best out of trading as soon as possible.

 

[darktone]

Yes ofcourse , but to open a thread after being offside just 50 points it indicates that he just started trading . If he insists on carrying on with trading he should slash his trades size by 10 or 20 .

For sure.
Re size, the guy has no 'risk capital'. Id suggest sim, till he has some idea of himself and how he wants to play.

His problem is his stake, probably. The 50 points can be digested if his account is managed properly but, like you say, he is best out of trading as soon as possible.

Comon Split. You cant tell me that youve never been caught with a bit o size early doors.

 

[Splitlink]

For sure.
Re size, the guy has no 'risk capital'. Id suggest sim, till he has some idea of himself and how he wants to play.


Comon Split. You cant tell me that youve never been caught with a bit o size early doors.

I've been caught and still am. But never with too large a stake. There, again, I'm a pensioner and this is a pastime. I have no intention of going broke by trading.

 

[timsk]

He is long and short .

Quite so, tar.
But, presumably, sooner or later, he's going to have to be biased in one or other direction in order to recoup his loss? He can't stay market neutral forever. Well, he could I suppose, but that won't solve his problem and, as Hog's pointed out, the financing charges will gradually eat away at his account.
Tim.

 

[itspossible]

Hi everyone,

I'm fairly new to this forum and trading in general, although that should change by the day.

Since I made a little sum of money while trading cfd's (by accident😕) and I know I'll lose this money trading cfd's, since I'm so new to it, I would love to invest this money on a more long time base. So I came up with the idea to invest in IPO's in India.

How do I go about this? I contacted a broker called "zerodha" if it's possible to apply for IPO's. I haven't received a reaction since though 🙁

My question:
- Best course of action for applying IPO's in India
- Which other high risk high reward INVESTMENT options are available to me

Ray'sCookie (Netherlands)

This thread and the above dont ring true to me.

 

[Splitlink]

This thread and the above dont ring true to me.

No, me neither.

 

[darktone]

This thread and the above dont ring true to me.

dax quote to .00? 😏

Dont mean we cant play though do it :cheesy:

 

[tomorton]

Doh! Come on darktone - its really you isn't it? You can tell me - after all, I'll believe anything.

 

[darktone]

Doh! Come on darktone - its really you isn't it? You can tell me - after all, I'll believe anything.

No not me tom. Of my many sins on T2W, multinicking isnt one of them. Yet! 😛

 

[f2calv]

as Hog's pointed out, the financing charges will gradually eat away at his account.

Those charges are going to be at worst ~£20/day? - which I would say is a small price to pay when sitting on a ~£1k unrealised loss.

I suggest waiting till either position gets at least 50 points into the positive, then slowly start adding to that winning side of the bet every N points always moving your stop loss on that 'winning' position to breakeven; and you the OP should be able to pyramid his way out of it...

...but given the OP clear lack of skills, actually they should just kill the position and stay away from live trading until they have done their homework.

 

[NVP]

I get your point, but I won't. But this must be solvable with time and the right knowledge.

If I knew what to look for in the trend so I knew when the trend has it's momentum in a certain direction I should be able to close one position and leave this trade without damage.

if you have 10,000 hours to spare then that's what it takes to learn to make money in the market day in day out

if you havnt got that pay back the losses from another source and get on with your life...........

you will not make it back by trading at this point with your scant trading experience - trust me and what others have said

don't chase losses ......

NVP

 

[Ray'sCookie]

All of you thanks for reading into my stupidity and trying to advise me the best you couild.

First of all I closed my positions last friday morning while the dax made a mini sprint upwards, so @ 10:25:25 my short and long position were closed. In the end I was so relieved even though I took that loss (€1300), because I was seriously anxious to lose it all.

I didn't have any plan and like spitlink said before and I was gambling. I shouldn't have ever put myself in that position at this stage of trading.

Ofcourse I got my money out of the account and will rethink my approach. I virtually lost most of what I made in the weeks before and can repay my dad from the current loss. I'll go back to basics and start there. Ofcourse I wil start reading again at the beginning of the forum but all extra tips and personal expierences are welcome.

 

[Ray'sCookie]

Then there is this other thing..

When opening my account at friday morning I saw that the "gap" (money wise) between my positions was increasing while this should stay the same in my perception since the long and short positions both represented 2700 contracts. so how did the "gap" (when both positions were alive at the same time) became bigger while the dax was dropping?

 

[darktone]

All of you thanks for reading into my stupidity and trying to advise me the best you couild.

First of all I closed my positions last friday morning while the dax made a mini sprint upwards, so @ 10:25:25 my short and long position were closed. In the end I was so relieved even though I took that loss (€1300), because I was seriously anxious to lose it all.

I didn't have any plan and like spitlink said before and I was gambling. I shouldn't have ever put myself in that position at this stage of trading.

Ofcourse I got my money out of the account and will rethink my approach. I virtually lost most of what I made in the weeks before and can repay my dad from the current loss. I'll go back to basics and start there. Ofcourse I wil start reading again at the beginning of the forum but all extra tips and personal expierences are welcome.

Theres gambling with a plan and gambling without a plan. Either way trading is a form of gambling, as Is walking to the shops.

Starting from basics:- Great, start by forgetting the forum and getting yourself some books.
Trading in the zone.
(Will give you an insight in what the market really is as well as start into your own mind)
Wizard series by J Schwager.
(An insight into how some of the best traders of our time think and approach the market)

Technical side, 10%:
On some level at the very least, you have to buy low and sell high, period!
You have to manage your risk. That means not trading 25pp with a 10k account! 1-3would be more realistic.

Psychological side, 90%:
Is the part of trading that practically nobody wants to address. Its the big pink jumbo in the room.

Where you think that anxiety came from? The market? Utuh, it was all you. Or more accurately, your mind.

You wanna know why 'I got that drink'? Its because I knew I wouldnt listen... Will you?.. One sec. Im just gonna get that drink!

 

[darktone]

Then there is this other thing..

When opening my account at friday morning I saw that the "gap" (money wise) between my positions was increasing while this should stay the same in my perception since the long and short positions both represented 2700 contracts. so how did the "gap" (when both positions were alive at the same time) became bigger while the dax was dropping?

Either the swap was being added to the total loss or you wernt fully hedged.
Or pink elephants were flying across the sky.

 

[NVP]

All of you thanks for reading into my stupidity and trying to advise me the best you couild.

First of all I closed my positions last friday morning while the dax made a mini sprint upwards, so @ 10:25:25 my short and long position were closed. In the end I was so relieved even though I took that loss (€1300), because I was seriously anxious to lose it all.

I didn't have any plan and like spitlink said before and I was gambling. I shouldn't have ever put myself in that position at this stage of trading.

Ofcourse I got my money out of the account and will rethink my approach. I virtually lost most of what I made in the weeks before and can repay my dad from the current loss. I'll go back to basics and start there. Ofcourse I wil start reading again at the beginning of the forum but all extra tips and personal expierences are welcome.

Most great traders always start their real learning after a few beatings......part of the initiation process .......and can save you a fortune in the long run

Good luck in your journey

N