Want to make 29000% in One Year ?

[JillyB]

After opening a credit account with an SB firm, I turned £0 into £10k in less than 12 months.
Is this classed as an infinite return?

I only wish it was that easy!!!! :|

I'm only paper-trading at the moment, but the thought of having a credit account with an SB firm, is pretty scary. You have to consider that it's their money you're playing with, and if it all goes wrong then...... I think I'd rather use my own money, at least it keeps some sort of reality on the whole thing.

P.S. what's you're secret?

 

[Edster]

P.S. what's you're secret?

Ahh, the $1 million question. The answer is that I don't have one! Before I started reading these boards I knew nothing about charts, TA etc. I'd never heard of Direct Access and all of the other terms used.
I suppose I'm classed as a swing trader. If something's gone up then it'll probably go down again (and vice versa). It worked for the vast majority of my trades but I got stuck with a couple that didn't actually come back down again (see the Basics of Trading thread). The trick is not to panic and to concentrate your efforts higher up (or lower down) the range. e.g. CCL was trading quite happily between 2300 and 2800 (longing at the bottom-ish and shorting at the top-ish. The last short that I did was at the end of November / beginning of December. CCL kept on rising.
Now sensible people would have had a stop in place (which is one thing that I've learned from reading these boards) but I didn't have one. I've waited until it's settled down a bit and ridden the higher up waves to offset the damages. Banking a few dozen pips here and there and knocking them off what I 'owe'. I haven't had to pay anything out but haven't earned anything from these trades either.
I've done the same on the Nasdaq as well (although this has come down to pretty much where I started now anyway).
These are 2 of the 3 that went 'tits-up' last year. The others have all been OK. I figure that if I can make a bit of money not really knowing what I'm doing then why should I change? OK, maybe to cut out the 3 stingers but I can live with those.
I actually worked out my success percentage yesterday and it was 89% (although this includes parts of a successful pyramid as failures so the actual success percentage would be higher).

I'm always open to advice though.

Cheers,

Edster

 

[JillyB]

Hi Edster

In other words, what you're saying is 'keep it simple' what goes up must (well usually) come down and vice versa. I like that philosophy. Sometimes a simple viewpoint can be better, I keep reading about the different types of indicators and TA methods and wonder if you get to a stage when you can't see the wood for the trees - so to speak.

I'm also learning the 'don't panic' scenario as well. This is such good advice and one all novice traders need to take heed of! (And I'm only doing this on paper at the moment!!!)

Anyway well done - I'm glad someone out there is making money out of the SB firms.

 

[Edster]

Hi Edster

In other words, what you're saying is 'keep it simple' what goes up must (well usually) come down and vice versa. I like that philosophy. Sometimes a simple viewpoint can be better, I keep reading about the different types of indicators and TA methods and wonder if you get to a stage when you can't see the wood for the trees - so to speak.

I'm also learning the 'don't panic' scenario as well. This is such good advice and one all novice traders need to take heed of! (And I'm only doing this on paper at the moment!!!)

Anyway well done - I'm glad someone out there is making money out of the SB firms.

Thanks Jill. I'm sure that my advice may be frowned upon by other traders but like I say, it works for me.
I suppose that if you've got the right stops etc in place then there should never be any need to panic anyway (unless you're in a long run of losing trades).

I never panic about anything (which whilst being good for me isn't good for everyone that I know!) In fact, the only thing that I remember about my school reports is that if I was any more laid back I'd fall off my chair!!

Good luck on your paper trading. If you need any more of my 'simple' advice then let me know.

Cheers,

Edster

 

[G-Man]

Thanks Jill. I'm sure that my advice may be frowned upon by other traders but like I say, it works for me.
I suppose that if you've got the right stops etc in place then there should never be any need to panic anyway (unless you're in a long run of losing trades).

I never panic about anything (which whilst being good for me isn't good for everyone that I know!) In fact, the only thing that I remember about my school reports is that if I was any more laid back I'd fall off my chair!!

Good luck on your paper trading. If you need any more of my 'simple' advice then let me know.

Cheers,

Edster

Edster/Jill,

It's always good to have a simple strategy that works for you, but IMHO selling strength/buying weakness can be a dangerous game unless you have some other criteria for determining when you enter trades.

I can't remember who said it, (I'm sure some some of the more knowledgeable members can), but it's always good to remember the adage, 'The markets can remain irrational longer than you can remain solvent'.

Good luck in your trading.

G

 

[JillyB]

Hi G

Thanks for the advice. I admit to having a simple strategy - one that works on EMA's, candlesticks, MACD and RSI indicators - what I'm trying to say is that, when I read some of the threads from the more senior and experienced traders, it's a little confusing (and I don't mean that disrespectfully). Some of the charts posted and strategies talked about leave me more than a little baffled (no jokes about female intelligence now !!!) So I'm working on my basic strategy and hoping one day, I will gain a little more understanding of the markets. Get a good grasp of the basics and the rest will follow - well that's the theory anyway!

Talking about the markets being 'irrational', I wonder if that means women make better traders? LOL.

 

[G-Man]

Jill,

Sounds like you've got plenty to work on there with 4 elements, plus price action. No need to worry about what other people do, what works for you, works for you. No questions. But there is no harm in using other peoples ideas to enhance though.

As for women making better traders......

well, women certainly seem to have less ego, (the ones I've met anyway) and IMHO many male traders end up in trouble by 'trying to take on the market', thinking they know best.

If women don't have this problem, then you are one step ahead.

Incidentally, what market(s) do you trade?

G

 

[JillyB]

Hi G

At the moment I only paper trade - but I'm doing this on the UKX and DJI (and have been doing for some months - getting to know them, I suppose). I think I will have to go 'live' at some point and test if I can do this for real. Fear plays a big part here (loaded gun to the head - and all that!)

I think Tuesday might be a good day - new month etc. GULP!

I was considering starting a journal of my initiation into trading - Diary of a Novice Trader (sort of thing). It would force me to follow the strategy I have been working with and also to be honest about when it doesn't work. Another GULP!

Ah well - there's the weekend to get over before I need to make the decision!

 

[G-Man]

So Jill,

Are you going live tomorrow?

G

 

[starspacer]

Edster/Jill,

It's always good to have a simple strategy that works for you, but IMHO selling strength/buying weakness can be a dangerous game unless you have some other criteria for determining when you enter trades.

I can't remember who said it, (I'm sure some some of the more knowledgeable members can), but it's always good to remember the adage, 'The markets can remain irrational longer than you can remain solvent'.

Good luck in your trading.

G

Yes, a dangerous game indeed. This strategy was used by the undoubted genius, Victor Niederhoffer. In statistical terms he traded about 2 million contracts at an average profit of $70. This was approximately 700 standard deviations away from randomness.

Unfortunately, the unthinkable occured and Niederhoffer lost 99.99% in October 1997.

 

[rosemary999]

Jill,



As for women making better traders......

well, women certainly seem to have less ego, (the ones I've met anyway) and IMHO many male traders end up in trouble by 'trying to take on the market', thinking they know best.

If women don't have this problem, then you are one step ahead.

G

Ah! I feel better already!

 

[rrock]

Does anybody have information on clickvolume software

 

[rrock]

Does anybody have information on clickvolume software

 

[shazbots]

So hey he did this in the dot com boom.

Quite easily done buying either AMZN or YHOO

Hows he done more recently...

Oh thats strange the site hasn't been updated for 6 months.

JonnyT

so easy everyone made $42million during this time!!

He claims 200-300%pa profit in recent years.

I find his newsletters very good and price very reasonable.

one of his picks last month was GOOG with a buy at $200 with high volume

again 2 weeks later buy @ $224.75

Whats GOOG today $240.00???

 

[Fabianov]

one of his picks last month was GOOG with a buy at $200 with high volume

again 2 weeks later buy @ $224.75

Whats GOOG today $240.00???

Very good trade!

 

[FaUZaNeVVa]

Wow!!!

I've dreamed also on how to get 29000% profits in a year. Is NeuroShell could do it for us?

Anyone have used NeuroShell 5.3 yet?

 

[trendie]

Wow!!!

I've dreamed also on how to get 29000% profits in a year. Is NeuroShell could do it for us?

Anyone have used NeuroShell 5.3 yet?

nope. waiting for NeuroShell 5.4. I hear it will be much better and cheaper.

 

[trendie]

Im plumping for Novoshell instead. Like Neuroshell, only better, cheaper, faster, comes with more peripherals, a lifetime guarantee, free next day shipping, an iPhone 3g and a bag of quavers thrown in for free.

cheese or prawn cocktail?