spanish89's Daily Trading Journal!! Whooooo ;)

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It's not like the bank is going to go bust, yeah? Even if it did, that's their loss cos if they are bust you just keep the money right cos all the staff lost their jobs so what do they care.
Anyway, he will make so much money by the end of the week he will buy his SB company and then trade using it and keeping the spread for himself. Pure genius. Great game, no can lose.


:LOL::LOL::LOL::LOL::LOL::LOL:

Cant blame a guy for living the 'Spanish dream'! :cheesy::LOL::cheesy:

Im not going to get into the childish name calling and bickering over my style of trading as written above as well......

I dont care what all the losers think about my style of trading!! :LOL::LOL:



And as requested by all the private emails i will post my forecast for the markets tomorrow, thankyou for all you emails btw, im glad that ive helped so many of you newbies make money. :)

Ftse going to open slightly lower cos the dow close, oil, and the nonfarms.

Dow going to be trashed tomorrow cos nonfarms is going to kill it + the euro interest rate is going to go up and so the dollar will get torn to bits and oils going to take advantaage of the dollar then and rocket!!!

Oil will open slightly lower tomorrow, but will rise and then rocket with the euro rate and non-farms weakness that will be inflicted on dollar.

Gold will take advantage of the dollar's fate from quite early in the morning though and so will rise.




This leaves me in a rather difficults situation once again though, as im short on oil july 14th future, cos believe there will be pullback to 137/39 before the 14th, but the oil will rocket tomorrow!!

But am already holding it at about £800 loss as £2 tick.. :whistle:twisted:

And ive maxed my account with sticking my stoploss at $153.27, but now my creditcard is maxed out and my bank account is now empty.



So the the only way i can get myself out of this 1 is by having to sorta hedge myself on the oil as soon as the eur interest rate rise is announced by buying the oil oil daily, but keeping hold of my short and just hold out the rally n storm n wait for the pullback that will come early next week after the rally..!! :LOL::LOL::devilish::LOL::LOL:

However i dont feel safe enough with my short stoploss at 153.27, so i need to get an extra £2,000 by 7am tomorro morning somehow to bost it to about $160 just for ultimate safetly against any rally!! :LOL::LOL:

But at the same time need to have enough spare capital to use as margin when buying the daily... :whistle:whistling



So i gna have to let the gold n dow n ftse all pass me by though due to lack of capital again!! sigh

Lets see if my forecasts are correct though.. :devilish::cheesy::clap:
 
S89, your doing good.
As someone who has been supportive, I see one flaw. Your positions are to big for the account size. If your account is 3k, you shouldn't be having a s/l larger than 30-60$
 
Not sure if I have the #s straight, but if I were you, I'd close out that Oil position for the -800 loss. Then start over with 1900 in the account.

For the last few months/weeks, Usd has been testing it's strength against Majors and Commodities and now it's due to return to weakening.

..so I personally would in no way, want to be short Oil/Usd. I think it could hit 150 tomorrow, if not next week for sure.
 
S89, your doing good.
As someone who has been supportive, I see one flaw. Your positions are to big for the account size. If your account is 3k, you shouldn't be having a s/l larger than 30-60$


Thankyou for always being so supportive.. :)

I do understand why lots people do try to use smaller stoplosses, cos they think that if they get taken out atleast they only lost 30 t 60pips.

But the way i see it is wheres the logic or maths sense in being taken out 5x for just 20ticks, so you have to then earn atleast 100ticks just to break even!?

When you could instead just use a stoploss of 5000ticks, so the market would never ever ever even come anywhere clsoe to taking you out ever, and you have so many months on your side even for the market to range 100pips away from you even if you got it wrong, but then back down in your favour at some point in those months.. so you only make money.
 
:whistling
Not sure if I have the #s straight, but if I were you, I'd close out that Oil position for the -800 loss. Then start over with 1900 in the account.

For the last few months/weeks, Usd has been testing it's strength against Majors and Commodities and now it's due to return to weakening.

..so I personally would in no way, want to be short Oil/Usd. I think it could hit 150 tomorrow, if not next week for sure.


I actually have thought about that a liitle bit..,
because i know tomorrow whe euro interest rate is increased the dollars is going to crash to a record low, and oil will rocket.

Thats why im going to hedge myslef on oil though by buying the daily oil tomorrow,
but keep my short open as there is going to be big pullback next week i believe, especially if fed announce usd interest hike over weekend.

I need to try borrowing atleast £2,000 of my mum tomorrow morning though, just so i can whackup oil's stoploss to $160 just to be safe when the price rockets tomorrow. :(
 
Careful now!!

Spanish, I'm really concerned about this strategy. You're going to borrow money off your mom to spread bet with? Oil could, quite possibly, hit 160 - unlikely I know, but as I write it's $145.25. With a day of important news, pretty much anything is possible.

We've discussed this on your messaging site (Vyew.com - - Free Anytime Collaboration and Live Conferencing) and I appreciate you are willing to take risks that I would not consider - but your mother's money? No, there must be a better way. :mad:
 
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Thankyou for always being so supportive.. :)

I do understand why lots people do try to use smaller stoplosses, cos they think that if they get taken out atleast they only lost 30 t 60pips.

But the way i see it is wheres the logic or maths sense in being taken out 5x for just 20ticks, so you have to then earn atleast 100ticks just to break even!?

When you could instead just use a stoploss of 5000ticks, so the market would never ever ever even come anywhere clsoe to taking you out ever, and you have so many months on your side even for the market to range 100pips away from you even if you got it wrong, but then back down in your favour at some point in those months.. so you only make money.

Spanish you wont listen to this but i'm hoping many other new traers out there will,

The advantage of this method is that 80, 90 maybe even 95% of your trades will result in either a profit or breakeven because you are giving them so much space to come back your way.

This results in a feel good factor, ego boast overconfidence ect.

This may continue for you for many months, even a year or more.

However sooner or later there will be a move against you that does not correct/retrace and then this 1 trade that will blow up yur account.

This wide a stop loss is another way of saying 'i dont have a clue wht the market will do'

Take your oil trade for example if you really think it will rally close your short, go long and when you think the rally is over go short again, tht way when oil drops you will be making a profit rather then just recouping losses.

I know sp does not se it as a loss untill the position is closed but watching your account drop by 2k in the hope tht the trade will reverse and come back to 2k is maddness.

close the trade, keep your 2k when it ralies to 150 go short and make another 1k.

Goodluck sp, I hope you have the strength to keep coming back to trading after you have blown up your account a few times, One day you will get a light bulb moment and will finally click and become a good trader.

ps I really hope you dont take 2k off your mum, or tht shes smart enough not to give it to you.
 
spanish to me mate what you're doing is taking a 50 delta position and closing your eyes if you go offside and hoping that it pulls back at some point to being onside.

i'm going to give you an example of fat tails, or the outliers that will one day ruin your account. look at charts for wheat or corn. these both went limit up/down on consecutive days-now with your trading strategy you would either be stopped out or be faced with a huge margin call. thhere is every possibility of this happening in oil if something goes off in iran. i've pretty much exhausted myself trying to highlight the dangers/stupidity of what you're doing, as have many other members here so i'm not going to bother any more. best of luck to you-when you do eventually get run over i hope you learn from your mistakes.
 
:whistling

I need to try borrowing atleast £2,000 of my mum tomorrow morning though, just so i can whackup oil's stoploss to $160 just to be safe when the price rockets tomorrow. :(

Please don't do this.

I can tell you from experience that moving stops constantly is a sure fire way to lose the whole account. I have done it numerous times - moved stops to point I never thought possible - and the market has rewarded me with a slap in the face. It does hapen and from my experience more regurlarly than you would think possible.

Luckily I have been able to aford to take the hits and have had to put them down to learning.

Now I'm not one to preach - and you can do what you want with your money- but do you seriously want to have to turn around to your mother and tell he you lost her money if you've got it wrong?
 
I did one post to see if he realised that he's got a 75% chance of winning because his stop's 3x the size of his target.

Whoosh, straight over his head, took it as a compliment.

I've also urged him to phone up a few prop companies in the hope that he might have an intelligent conversation with someone and eventually get to the point where they tell him they have daily limits and it might dawn on him that he HAS to change. He'll be lucky if they let him risk 20pts on the FTSE.

I've also hinted that it's obvious there are potential employers on this thread - whoosh again.

A shovel wouldn't do the job.

Joey
 
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Please don't do this.

I can tell you from experience that moving stops constantly is a sure fire way to lose the whole account. I have done it numerous times - moved stops to point I never thought possible - and the market has rewarded me with a slap in the face. It does hapen and from my experience more regurlarly than you would think possible.

Luckily I have been able to aford to take the hits and have had to put them down to learning.

Now I'm not one to preach - and you can do what you want with your money- but do you seriously want to have to turn around to your mother and tell he you lost her money if you've got it wrong?

Unfortunately, he look's like he's intent on taking others down with him. That's where he's crossed the line in my opinion.
 
Spanish mate, you've gone too far with taking money off your mum! :(
Did you not listen to Shadow the other night! He said trading the EURUSD was easy!!
Get your stupid head out of the OIL ass and read other news...
57 out of 58 economists say the ECB will raise today...
STOP LIVING IN DENIAL AND IF YOU HAVE AN OUNCE OF SELF-RESPECT DON'T RISK OTHER PEOPLE'S MONEY AS WELL AS YOURS!!!
:mad::mad::mad:
 
All advice to S89 is pointless. A waste of time. He's a gambler, pure and simple.
Hopefully his mum will be too wise to feed his addiction. As others have said, it's a shame for those who follow his "lead"; he's even calling others "newbies"!

Food every day, fresh open air, friends, every need met, sex in the fields for day after day, week after week. What a great life !
Easy peasy !
Then suddenly, against all evidence and experience:

To the slaughter:
 

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Spanish - you are overtaken by

GREED



If you were trading with you own money then I'd say fair enough let him get on with it. But borrowing money to trade......:cry:

It's going to end badly

Maybe not now - maybe not for a few months - but eventually. You are going to end up with no money in your account, and a huge debt to pay off.
 
Thankyou for always being so supportive.. :)

I do understand why lots people do try to use smaller stoplosses, cos they think that if they get taken out atleast they only lost 30 t 60pips.

But the way i see it is wheres the logic or maths sense in being taken out 5x for just 20ticks, so you have to then earn atleast 100ticks just to break even!?

When you could instead just use a stoploss of 5000ticks, so the market would never ever ever even come anywhere clsoe to taking you out ever, and you have so many months on your side even for the market to range 100pips away from you even if you got it wrong, but then back down in your favour at some point in those months.. so you only make money.


Spanish, just to humour me, draw up a chart of the Nikkei 225 and assume that you came up with a "buy" call at any time in 1990. At this time Japan was the world's economic powerhouse, so not dissimilar to buying the S&P, Dax, FTSE etc, today.
Can you see the timebomb you are sitting on?
 
Don't waste your effort. We've all tried before to convince him that his so-called logic is... not. Most of us are just here to watch him blow up his account. If he is lucky, he will do it soon. If he is unlucky, he will do it when he's trading tens of thousands or hundreds of thousands. He'll be in his luxury penthouse enjoying all the mod cons that come with earning thousands a week... HD DVD, LCD TV, outdoor jacuzzi on the roof, Ferrari in the garage, a gorgeous girlfriend who can suck a melon through a straw... and suddenly a minor glitch in the market... a Black Monday... will destroy his empire and he'll be in a mouldy B&B, lonely, car-less and penniless, the bailiffs will have taken everything, his gorgeous girlfriend who can suck a melon through a straw will be on the arms of someone who knows about risk, money management... and logic.

Maybe, Spanish will set up a webcam for us to see him in all his glory: Stock Futures Trader Having Rough Day Video

My main concern was that he'll be taking a lot of newbies with him. "Was"? Because someone told me that they're going to lose their money, anyway, so it shouldn't be my concern.

-SN

PS Do you like my new signature?
 
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Don't waste your effort. We've all tried before to convince him that his so-called logic is... not. Most of us are just here to watch him blow up his account. If he is lucky, he will do it soon. If he is unlucky, he will do it when he's trading tens of thousands or hundreds of thousands.

Maybe, Spanish will set up a webcam for us to see him in all his glory: Stock Futures Trader Having Rough Day*Video

My main concern was that he'll be taking a lot of newbies with him. "Was"? Because someone told me that they're going to lose their money, anyway, so it shouldn't be my concern.

-SN

PS Do you like my new signature?

Very good!
 
Spanish89,

You have the right idea. .

new_trader - I think you should be ashamed of yourself.

It is very clear that Spanish is a gambler. He will blow his account.

You've followed the thread and his no stoploss philosophy isn't one you'd sponsor. So why are you doing it? Clearly your obsession with disagreeing with "the crowd" has overtaken your senses and you're now encouraging reckless behaviour that Spanish clearly can't afford, just to feed your ego.

UTB
 
new_trader - I think you should be ashamed of yourself.

It is very clear that Spanish is a gambler. He will blow his account.

You've followed the thread and his no stoploss philosophy isn't one you'd sponsor. So why are you doing it? Clearly your obsession with disagreeing with "the crowd" has overtaken your senses and you're now encouraging reckless behaviour that Spanish clearly can't afford, just to feed your ego.

Maybe he's doing it to be kind. If he isn't a contrarian, Spanish will do what I predicted above. If he does this and encourages him, Spanish will go even bigger and blow up before he's hit the big time.

Or maybe he just fancies a giggle.
 
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