Starting out on the FSTE + DJI

This is a discussion on Starting out on the FSTE + DJI within the Discretionary Trading forums, part of the Methods category; Hi All, Hope all is well? Just joined so thought I would say hi. Question, Im looking for those who ...

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Old Apr 5, 2012, 5:54pm   #1
 
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Joined Apr 2012
Starting out on the FSTE + DJI

Hi All,

Hope all is well? Just joined so thought I would say hi.

Question,
Im looking for those who may have already "been there and done that"
On starting out, with a pot of around 10,000pounds, and trading FTSE + DJI, and roughly trading between 2/3% each time, how long does it realistically take to pull a so called earnings from the pot (with allowing for deviation etc)???

I know its a question that may seem impossible to answer, but im kinda hoping that someone has already done it????

Thank you for your time, and hopefully your replies
Neil
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Old Apr 5, 2012, 6:19pm   #2
Joined Apr 2006
Re: Starting out on the FSTE + DJI

Probably longer than you anticipated. 10,000 hours is often cited, and its probably quite realistic.
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Old Apr 5, 2012, 6:42pm   #3
Joined Nov 2001
Re: Starting out on the FSTE + DJI

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Originally Posted by neil19 View Post
Hi All,

Hope all is well? Just joined so thought I would say hi.

Question,
Im looking for those who may have already "been there and done that"
On starting out, with a pot of around 10,000pounds, and trading FTSE + DJI, and roughly trading between 2/3% each time, how long does it realistically take to pull a so called earnings from the pot (with allowing for deviation etc)???

I know its a question that may seem impossible to answer, but im kinda hoping that someone has already done it????

Thank you for your time, and hopefully your replies
Neil
The Hare is right and that money will only last you if you use the lowest of stakes.

Firstly, you must decide who your dealer is to be. A lot of us use spreadbetting firms because, in that way, one can learn to trade with low stakes. They have improved a lot over recent years but some are better than others. Do not put more money into your account than you need-----there is a thread about World Spreads that has gone bust, recently, which may open your eyes to the fact that it is not all about trading risks. The integrity of the dealers and the faith you can have in them is very important.

I have been on this thread for many years and I am not sure that I can positively identify anyone who has "made it". Except me, of course, but I would say that, wouldn't I?
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Old Apr 5, 2012, 6:50pm   #4
 
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Joined Apr 2012
Re: Starting out on the FSTE + DJI

neil19 started this thread
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Originally Posted by Splitlink View Post
The Hare is right and that money will only last you if you use the lowest of stakes.

Firstly, you must decide who your dealer is to be. A lot of us use spreadbetting firms because, in that way, one can learn to trade with low stakes. They have improved a lot over recent years but some are better than others. Do not put more money into your account than you need-----there is a thread about World Spreads that has gone bust, recently, which may open your eyes to the fact that it is not all about trading risks. The integrity of the dealers and the faith you can have in them is very important.

I have been on this thread for many years and I am not sure that I can positively identify anyone who has "made it". Except me, of course, but I would say that, wouldn't I?

Haha Thank you for your wise words. May I ask who you trade with?
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Old Apr 5, 2012, 7:01pm   #5
 
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Re: Starting out on the FSTE + DJI

Neil, if it helps we can have a chat via skype after easter. If your really new then theres lots to learn. Look all the way round the site and then think of what you really want to know. The posters on this thread will give you good advice,but have a look around and have a more detailed plan. I never did that and it meant I wasted years trying everything i looked at
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Old Apr 5, 2012, 7:08pm   #6
 
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Joined Apr 2012
Re: Starting out on the FSTE + DJI

neil19 started this thread
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Originally Posted by Lord Flasheart View Post
Neil, if it helps we can have a chat via skype after easter. If your really new then theres lots to learn. Look all the way round the site and then think of what you really want to know. The posters on this thread will give you good advice,but have a look around and have a more detailed plan. I never did that and it meant I wasted years trying everything i looked at
That would be great! Thank you. I shall do that over the weekend. Thanks again, have a good weekend.
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Old Apr 6, 2012, 1:04pm   #7
Joined Nov 2001
Re: Starting out on the FSTE + DJI

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Originally Posted by neil19 View Post
Haha Thank you for your wise words. May I ask who you trade with?
I have not had any serious issues with Finspreads, I have been with them since before they went online. I have heard good reports about ETX - there is a thread about them, somewhere. on the Spreadbetting platform.

I'm not recommending anyone, mind, because there will, always, be objecters and, frankly, I can't be bothered with debates of that sort.
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Old Apr 6, 2012, 2:01pm   #8
Joined Oct 2006
Re: Starting out on the FSTE + DJI

Quote:
Originally Posted by neil19 View Post
Hi All,

Hope all is well? Just joined so thought I would say hi.

Question,
Im looking for those who may have already "been there and done that"
On starting out, with a pot of around 10,000pounds, and trading FTSE + DJI, and roughly trading between 2/3% each time, how long does it realistically take to pull a so called earnings from the pot (with allowing for deviation etc)???

I know its a question that may seem impossible to answer, but im kinda hoping that someone has already done it????

Thank you for your time, and hopefully your replies
Neil
Why the Dow and FTSE, volume is low, much better to trade the e mini S&P and DJ Eurostoxx or Bund, but futures, not spreadbetting. If you speadbet then you're going to lose no matter what you trade.

...and to answer your question, several years, if you're lucky and probably never if you trade retail FX or SB.
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