Sucessful Profitable Spreadbetting - The way I do it

[sweatyslouch]

Every single one of these guys that are telling us how successful they are have turned out to be scam vendors. How do you think this is going to end up?

50% before breakfast time? What a load of crap.

False association

 

[sweatyslouch]

Here we go again. No sooner have we seen through Taffie the prop trader than we have 100 points a day part time spreadbetter.

Hotbaz, I'd advise you give it up now, the outcome is going to rather embarrassing for you.

False association

 

[DionysusToast]

Turned out he was a purveyor of get rich quick schemes and had only been at a prop firm (in Wales) for 6 months. [/B]

I'm not feeling any love for the Welsh in this post...

 

[DionysusToast]

pboyles - if you cant see that those people were scam artists then you must be blind. No-one looks after your own money like yourself. I would never give my money to someone just because they said they were an expert. So i think laying in to hotbaz is uncalled for, he is not asking for any money from anyone, just commenting on his own startegy which i appreciate.

Hotbaz - is CMC a direct market access [DMA] platform? Do you ever get dealer requotes when trying to close position ? I experience this on SpreadCo at times and it can be frustrating.

Come on.... make a living trading with a 400 quid account?

You wouldn't have to be good to do this, you'd have to be the best trader on the planet.

Maybe he is the best trader on the planet...

 

[gle101]

Anyone consistently making £200 per day using £400 capital and £1 or £2 per point bets could easily scale up and become stupendously rich very quickly. So why hang around with all us T2W loosers?

PS. By the 'CMC System' do you mean the spreadbet provider, or is it your strategy?

Ha ha, yes that is not much of money management strategy is it. There is no holy grail in trading, that so many new traders believe exist, although a few of his tips are sensible however nothing new under the sun.

 

[hotbaz]

Correct - There is no holy grail and yes you are right my tips are nothing new - I choose to play small and not big - as long as I can make my income Im happy.

If a lose £40 on a trade - I don't cry, but if I lost £4000 on a trade it would affect me for a good few days. Put me in a state of mind where I would want to make it back straight away (and doing that could end of sacrificing some of the rules) putting me deeper into the read through being desperate and angry.

I Don't do this now - but have done in the past - Which is why one of my rules is "Don't trade when not in the right state of mind", especially where our biggest enemy "Greed" and "Desperate" are lurking around the corner.

Hope I'm sort of making sense there.

Discipline has got to be one of your strongest points. Again we all must remember that our greatest enemy is ourselves, not the market. Or so I have taught myself after years of mistakes.

 

[ZEN archer]

You are making sense now.

However claiming that you can make that much consistently doesn't make sense and anybody who traded real money for more than 6 months would know that.

Just stick to the rules and don't expect to make 50%(or anything close to that) all the time. BTW If you made that sort of returns all the time, you would become the richest person in the world in no time.

Wishing you good trading and common sense

 

[hotbaz]

Just stick to the rules and don't expect to make 50%(or anything close to that) all the time. BTW If you made that sort of returns all the time, you would become the richest person in the world in no time.

Sometimes I make less - sometimes I make more, like the example I gave earlier as regards my Friday Trade.

Also as I said in a previous reply. The more you have and risk, then the psychology of it all sets in and your train of thought changes. I have proved this with myself.

£400 is a happy base for me - its works for me - I make what I want to make. I think I would be prepared to take this to a £1000 in the future though.

Obviously if you are rich and have tens of thousands that you don't mind losing then my £400 base would be a lot higher. Everyone is different.

I remember when I was in Florida on holiday 6 years ago. I took my laptop and thought I would pop in and make a few trades. At that time I had £2800 in my trading account. I put £20 a pt on the US30 one Thursday morning before open. by the end of some results I had doubled my income - it had almost gone up by 150+ points before settling. Those days were very volatile.

Then I got greedy - but yet lost it all by the end of day.

Those big money levels are not for me - I get to nervous - exit to soon on profits and attached myself to losers, hoping to regain.

At least at the level i work with, I'm happy with what i make. Roughly trying to make £4000 a month is better than most full time jobs - especially tax free.

 

[DionysusToast]

So - you make a 50% return on capital per day?

 

[R.Charnock]

So - you make a 50% return on capital per day?

Hardly worth the effort. The rest of us here wouldn't get out of bed for less than 75%.

 

[hotbaz]

I try to aim for 50% a day, yes!

75% might be your happy level but for me 50% is worth it.

I had the riches in the past and lost it all through unfortunate circumstances (not trading) so I do not crave money like some, as long as I'm comfortable and can pay my bills and look after my family.

 

[KIUK]

HotBaz - im glad you proved yourself via those screenprints, and maybe some sceptics like Pboyles can sit in the corner and eat some humble pie now.

I think i was also laughed at when i said i make 1k in a few minutes, so i also posted my screenprints.

Its possible to make money, but you need DISCIPLINE and lots of it.

Im still learning. Ive not been screwed over by a flash crash or S.B. platform trickery, and i hope i dont. But im still cautious. Because it only takes the once for it to happen and youre scrwed. Unless you take profits out of your SB account daily - which is what you do - and i think thats a good plan.

good day all.

 

[The Leopard]

HotBaz - im glad you proved yourself via those screenprints, and maybe some sceptics like Pboyles can sit in the corner and eat some humble pie now.

I think i was also laughed at when i said i make 1k in a few minutes, so i also posted my screenprints.

The problem with this is illustrated by a recent episode.

A notorious vendor posted a very convincing "screenprint". It was a statement proving that he keeps nearly eight and a half million quid lying around in an RBS current account.

This post was swiftly followed by a number of posts demonstrating that the vendor was not alone. Many other people had RBS current accounts containing 10 and even 20 millions. They evidenced this with screenprints of their account statements.

 

[jungerns]

Sometimes I make less - sometimes I make more, like the example I gave earlier as regards my Friday Trade.

Also as I said in a previous reply. The more you have and risk, then the psychology of it all sets in and your train of thought changes. I have proved this with myself.

£400 is a happy base for me - its works for me - I make what I want to make. I think I would be prepared to take this to a £1000 in the future though.

Obviously if you are rich and have tens of thousands that you don't mind losing then my £400 base would be a lot higher. Everyone is different.

I remember when I was in Florida on holiday 6 years ago. I took my laptop and thought I would pop in and make a few trades. At that time I had £2800 in my trading account. I put £20 a pt on the US30 one Thursday morning before open. by the end of some results I had doubled my income - it had almost gone up by 150+ points before settling. Those days were very volatile.

Then I got greedy - but yet lost it all by the end of day.

Those big money levels are not for me - I get to nervous - exit to soon on profits and attached myself to losers, hoping to regain.

At least at the level i work with, I'm happy with what i make. Roughly trying to make £4000 a month is better than most full time jobs - especially tax free.

One thing I can't quite grasp is that with only £400 in the pot surely you must be on a knife edge continually if you have a few trades open, with regards to Margin Call.....??

 

[gle101]

One thing I can't quite grasp is that with only £400 in the pot surely you must be on a knife edge continually if you have a few trades open, with regards to Margin Call.....??

This can be easily taken care of by depositing new fresh money into the account, after the burn out that is.

Really, I do not hope anybody takes this serious, natural statistical market variation will wipe him out. But then he will deposit more money into the account, simple as that.

 

[KIUK]

One thing I can't quite grasp is that with only £400 in the pot surely you must be on a knife edge continually if you have a few trades open, with regards to Margin Call.....??

I am on edge when i let my loss run, for such reasons.

Thats because i hardly ever use stop losses, and i should.

and with a £1 per point stake, it takes 300-400 points for you to be in real danger?

this would be a very rare occurence??

 

[gle101]

HotBaz - im glad you proved yourself via those screenprints, and maybe some sceptics like Pboyles can sit in the corner and eat some humble pie now.

I think i was also laughed at when i said i make 1k in a few minutes, so i also posted my screenprints.

Its possible to make money, but you need DISCIPLINE and lots of it.

Im still learning. Ive not been screwed over by a flash crash or S.B. platform trickery, and i hope i dont. But im still cautious. Because it only takes the once for it to happen and youre scrwed. Unless you take profits out of your SB account daily - which is what you do - and i think thats a good plan.

good day all.

Proper risk and money management is the key. Without it one will be lost. With it, one can at least stay a while longer in the game.

 

[p-lab]

I am on edge when i let my loss run, for such reasons.

Thats because i hardly ever use stop losses, and i should.

and with a £1 per point stake, it takes 300-400 points for you to be in real danger?

this would be a very rare occurence??

Was going to respond but ................. No

Good luck

 

[hotbaz]

Most of you guys are full of doom and gloom - So why do it.

Like I said - I have a proven formula that works for me. What more can I say - I have tried to offer sensible advice, yet a lot of you have presumptions that we are suppose to fail.

I am just glad that I am not in the 95% who do fail - due to disciple and being sensible

 

[forker]

Multi nick alert