Trading Ftse £1 Per Pip, With 3000 Pip Stoploss!! :)

[spanish89]

"Although even though i research and watch bloomberg from 6am in the morning and always do exactly what they say is expected to happen"

i never thought of doing that spanish, nice one i will try that today

now i see you are making money with your system which is brilliant but your problem seems to be not making enough money !

why not increase the size of your trades to maybe £3 -5 then you will be making enough to live on ?

you have proved it works so why not let it work even better by trading with bigger size.

Thanks for your encouraging reply mate..

That is the problem with my system though, since it only works so well by 'covering the entire market' with a giant stoploss, its getting the capital to just cover the position that is preventing me from doing any more than £1 per pip.

Even when at the moment i am only using an 800pip stoploss, it still requires £825 to be in my account and reserved on the trade.

So if increase to £2 per pip even, i then need to have £1,650 in my account to cover it.


And if its that much money i then would want to increase my stoploss level just to be extr extra safe, and so would want to increase to a stoploss of 1500pips.


But then to cover that at £2 per pip i would need just over £3000 in my account, so it would have to come from creditcard, whch would charge me 3% interest per month, so £100 per month interest.

(Im already over 2k on my 3k limit anyways)

 

[gooseman]

spanish I have a question:

let's cast our minds back to the beginning of this century-in may 2001 the index traded 6000 and came off sharply. the 6000 level was not traded again until march 2006. if you had traded your 'strategy' then how long would you have run your offside position in the hope it would come back? the low was 3287 incidentally. more than a 2k loss. to fund this you would have to meet margin calls from whichever spreadbet compnay you were using plus rack up more debt on your credit card plus the interest charged.

this is a foolhardy strategy spanish. no other words to describe it but as i said previously you crack on sunshine and do your dough.

 

[FXSCALPER2]

Yes, I would like to get to know his mum, too.

I am actually concerned over the legalities of asking a relative if you can borrow money to trade esp with regard to the exact wording used. I mean, I am sure if you said, "Dad, can I borrow £20k cos I want to trade on the stockmarket, trust me, I know what I'm doing, I'll give you 20% interest at the end of the year, you're the best dad ever?" out of sheer fatherly love, you are bound to get the £20k if he has a spare £20k and while that isn't a formal contract as such, I am not sure it isn't breaking some sort of law. Comments?

The say the law is an ass but that would be the hight of stupidity.

 

[trader_dante]

Problem is gooseman that some people just cannot be told. They need to find out for themselves. Ultimately it's the best way to learn. We all have to analyse our intentions and work out WHY we are doing things.

I remember in my early days I was taking a position long in say the Eur/Usd spot and then if it ran offside a good deal, I would hedge it by going short in the front month future. The idea I had was that one would go on side a good deal with the overall loss only increasing marginally towards expiry of the futures contract.

Then when one half was on side a good deal I would put a stop at breakeven on it. I found that most of the time the market would come back, take out my stop and then the momentum would be enough to get me out of my original losing position at break even too!

This strategy worked fairly well in avoiding losses but the outcome was sometimes I would be stuck for a whole quarter with a losing position and miss excellent opportunities while my capital was tied up. At the end of the quarter I either came out with a sizable loss or nothing!

I had the mentality that taking a loss was bad and that good traders didn't do it - which is of course complete and utter rubbish. Good traders lose a lot of the time. And one thing I've learnt now is that when they do it's a case of understanding they are wrong and taking the loss with the knowledge of why they lost and what, if anything, they can do to avoid it happening again.

 

[normbeef]

I think the issue here is really that Spanish is picking up pennies on the railway line... and he just refuses to see it .... sooner or later he will be hit... perhaps not today.. or tomorrow ... maybe he might even survive a year or two ?? who knows... the fact is that the he is standing butt naked in the centre of the room thinking he has a swish 3 piece on...

 

[gooseman]

he's looking for a few ticks here and there by being long only. but then on top he's scalping it?! Don't understand

 

[normbeef]

he's looking for a few ticks here and there by being long only. but then on top he's scalping it?! Don't understand

Neither do 99,000 other users on this site

 

[CHRISTO9HER]

This would be funny if it wasnt so sad.......actually I changed my mind it is still funny. I probably wouldnt trade the worlds greatest strategy off a credit card, let alone the worlds dumbest strategy!!!!!!

 

[normbeef]

lol.... i hope this thread goes on long enough for us to see the real results of this Lunatic... sadly I presume he will scuttle off with tail firmly between legs and we not hear how it came to its natural conclusion... although we all know what that will be anyway !!!

 

[Devilicus]

I've already seen this movie. I know how it ends.

Lots of small wins, then he gets stuck in a 'bad' trade for months on end tying up capital and missing hundreds of excellent trading opportunities. Eventually makes a small profit on the trade. Then the cycle begins again, only this time the bad trade goes even further against him for even longer! He doubles up! (I know he said he wouldn't but I promise he will.) That's when the end credits to the film start to roll....

 

[rathcoole_exile]

i think most people share a consensus of opinion on this utter Clown.
the really frightening thing is that, on another thread, he has mentioned that his alternative career if he fails as a trader, is to join the police.

Can anyone imagine this eejit walking their streets as a beat peeler ? Scary ....

 

[shadowninja]

I've already seen this movie. I know how it ends.

Lots of small wins, then he gets stuck in a 'bad' trade for months on end tying up capital and missing hundreds of excellent trading opportunities. Eventually makes a small profit on the trade. Then the cycle begins again, only this time the bad trade goes even further against him for even longer! He doubles up! (I know he said he wouldn't but I promise he will.) That's when the end credits to the film start to roll....

You, too, eh? :whistling

 

[spanish89]

Still insulting my trading style i see??

Good good thats what i like to see! LOL :cheesy:

Your egos and sense of self worth grown even more doing it it hope...


But the thing is you are all taking the p**ss outta it, and have been doing for the last 1week since i started it...,
But i havent actually lost any money at all doing it!!

Its worked.., ive now made £190 profit over the week by doing it!! :cheesy::clap::cheesy:



Ive even now upgraded it to hedging myself now,
by choosing a midpoint around 6000, then by buying long 1 way with the july futures contract if i think markets going up over next day or 2,
and selling down the aug futures.

(Both with about 800pip stoploss ofcourse)


So now ftse will either have to go up, and so il cash in a hundred or few hundred quid on july futures,
or it will go down and so il cash in 1st on the aug.

It doesnt actually matter to me anymore which way it goes anymore...
because i will get paid no matter what


But for example lets say it does go up over next few days to 6250 then hits resistance, il cash in £250 there for just a few days of work, and then can either sell back down and cash in from the fall, or just sit back and relax, wait till its back around the 6000mark the next day, and then buy again.

And so the cycle then repeats! :cheesy:

Eiter it will go back up again, and so il cash in again, or it will go down, and so il cash in that way.

Either way, i make cash.



And even if you do take the pessemistic view as a way of trying to find something to put this method down so you can then try and reinflate you own egos again..

Worst case, july comes, i was selling down july but got caught out and was stuck with the market being 50 - 100 up instead.

Il just take the hit, lose £50 - £100 (wont be much loss compared to the few thousand cash i would have made over the previous weeks),
And i could even offset whatever the loss is though, by just closing the long position i was holding, and so just neutralise and null any loss. :cheesy::cheesy:






Now come on everyone, lets all see what all the egotistical little men out there have now got to say to try putting down this new method??

Come on, i know you will find some insulting mocking stuff to say..

After all if you dont find something bad to say you wont feel liek a big man for the day!!



You see i actually do just think it is just very very sad and unfortunate that most of you are just too stuckup and big-headed to actually really think about the logic behind what im saying,
and then atleast even try it out yourselfs on a virtual account, just to see what actuall would happen in reality and the cash you would make..

Instead of you all just sitting there thinking ''Its been written by that Spanish boy whos always posting all these unconventional and adverturous ideas on here, so it must just be a crap idea and a giant joke''! :cheesy:




At the end of the day i dont really care if you all wet yourselfs laughing at my method, or you rush out and copy it, because whatever money you earn or lose doing any method will be yours not mine. lol


But if you all come on this site eveyday, read through everyone elses posts, laugh at some of them like mine and say they crap and stupid....

Well each and every one of you now create a post telling me and everyone else what your method is that is making you so rich and sucessful??

Well??? Come on, i challenge each and everyone of you to specifiy exactly what your method is that is doing so good for you???

 

[gooseman]

i am simply aghast. do you think you're the first person to trade a calender spread?

 

[Devilicus]

You're gonna make lots of money.

 

[Lee Shepherd]

Well done spanish

 

[arabianights]

Well I'm convinced.

 

[gooseman]

yo spanish-quick question. you're trading M-N calender spread right? what happens when june expires and you have to roll to N-Q? you would lock in a loss on one of your legs no? plus you have basis risk on the spread.....

 

[spanish89]

The thing im scared off is the non-farm data for this lunchtime.

Everyone already knows its about -60,000 jobs this month.., but will it only hit the market value once its confirmed officially??

And even though its moe than last month, since it will show USA avoided recession will that make market go up again??

 

[gooseman]

answer my question and i'll give you my view.