spreadbetting to a million

[charlesD]

Week 1: 8.2%
Week 2: 6.8%
Week 3: 30.5%
Week 4: -0.6%
Week 5: 32%
Week 6: 29.9%
Week 7: 11.9%
Week 8: 0%
Week 9: 0%
Week 10: 16.3%
Week 11: 0.5%
Week 12: 17.5%
Week 13: 0%

 

[Forexmospherian]

Hi CharlesD

During the 13 weeks how many trades do you still have left open and how many are 1 month and 2 months old ??

Also when do you think you will hit your financial "wall" if its a live account - at 10 lots -25 lots - 50+ lots per pip ??

Regards

F

 

[charlesD]

Hi Forexmospherian,

I only day trade, so I open and close my trades the same day, so my trades on average are open for anything between 30minutes-3 hours (average), sometimes less, sometimes more.

Yes it's live with real money. Sorry I don't know what you mean by "financial wall" please explain more...

 

[tomorton]

Lots and pips in spreadbetting?

 

[Forexmospherian]

Lots and pips in spreadbetting?

Only the terminology ;-) - Tom - I got up to approx £160 a pip about 7 years ago on a spreadbetting account which was then equivalent to over 22 + lots a pip

The financial wall I will explain a bit later on - but interested if Charles is compounding - as he says he his on another comment on another thread what he is now up to ??


Regards


F

 

[darktone]

Yes it's live with real money. Sorry I don't know what you mean by "financial wall" please explain more...

Psychological wall, size puke point.
When the thinking about the size overwhelms the rationale of the trade, usually resulting in doing something real stupid.

 

[charlesD]

Hi all,

Yes I see what you mean now, about trade size and the resulting psychological and emotional impact that arises from it. My account size is still small (3 figures) and so my stake sizes are small, but as I compound my account size I incrementally increase the stake size too, usually determined by a constant divisor, although I can be flexible depending on the strength of my conviction. I have yet to bet with significantly large stake sizes, but eventually, should my account ever reach 5 or 6 figures, and my stake sizes increase, I can imagine the profound effect it could have on your trading, but as I see it, if you have a strategy, and it stays constant throughout, and you stick to it, then, in actuality there should be no difference whether you bet £1 a point, or £1000 a point right?

 

[darktone]

Hi all,

Yes I see what you mean now, about trade size and the resulting psychological and emotional impact that arises from it. My account size is still small (3 figures) and so my stake sizes are small, but as I compound my account size I incrementally increase the stake size too, usually determined by a constant divisor, although I can be flexible depending on the strength of my conviction. I have yet to bet with significantly large stake sizes, but eventually, should my account ever reach 5 or 6 figures, and my stake sizes increase, I can imagine the profound effect it could have on your trading, but as I see it, if you have a strategy, and it stays constant throughout, and you stick to it, then, in actuality there should be no difference whether you bet £1 a point, or £1000 a point right?

Market depth considerations aside, youre right.

 

[charlesD]

A spate of economic reports out today, including the ISM Manufacturing at 15:00 BST, if good, I see a potential trade set up for a rally, reaching a high of about 4670 for the day on a strong report, or about 4650 on a mediocre one, if it breaks above Friday's high, I'd be looking to get in somewhere around 4620-4625 after the release.

please do not construe this as advice, as I cannot be held responsible for losses, this is my own personal opinion and not a recommendation.