Is it really possible to make money in this trading lark?

This is a discussion on Is it really possible to make money in this trading lark? within the First Steps forums, part of the Reception category; Marketgeeni, its hard to take you seriously since you presumably never went to school.Once you learn in which order an ...

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Old Oct 20, 2004, 8:00pm   #101
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Marketgeeni, its hard to take you seriously since you presumably never went to school.Once you learn in which order an 'i' and an 'e' are placed in a word, I may change my mind.
Vorpal, since your tale did not start with 500quid, its irrelevent.No one disputes that its possible to make loads of money, just that to do it in 6 months with £500 is somewhat hard to fathom.
Anley's point on the 500quid as starting capital is the one that puzzles me.Spot on Anley!!
As for those who have intimated that us disbelievers are probably not good traders, I can only laugh.I'd put myself in the top 2% of uk private CFD traders and that's not in ROCE but in pounds and pence having spoken at length with both gni , etrade and Ig Index on the subject.
Apologies if I choose not to be taken in by this wonderful tale but I'd rather live in the ''real world.''

Last edited by nobrainer; Oct 20, 2004 at 11:15pm.
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Old Oct 20, 2004, 8:16pm   #102
 
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the original topic

Yes its possible to make consistent money in the markets. But don't be fooled, it is incredibly tough. Think about the competition. The markets are very efficient, but not entirely. There are full time traders out there with millions of dollars of research capital available to them. They have teams of PHD math wizards and teams of programmers available to them to look for market edges. Here you are, a lone trader, with limited resources, limited time, and far less capital trying to find the edges before they do. Get the picture? This game is very tough, and probably tougher than anything you have ever tried before. If you are dedicated enough, work extremely hard, are fairly bright, have some skills that can help, like math/programming/creativity, etc, then you have a shot at it. But if it takes you several years of study and system development to find your first system that works, dont be surprised. For most people, there are far easier ways of making money than trading. Thats the cold hard reality. The road ahead for a brand new trader is a ver long one. If you dont have a passion for this, and are only in it for the money, you will probably fail. Lastly, there are exceptions to every rule
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Old Oct 20, 2004, 8:21pm   #103
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marketgeeni,

My question was genuine, if you are able to make that kind of money in that timescale what reason is there to try and make even more money ? Maybe it is greed ?

As for attempting to slate me, well that is up to you but I have helped many many people on these boards in almost every area of trading and hopefully you will consider doing the same ?


Paul
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Old Oct 20, 2004, 8:38pm   #104
 
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[QUOTE=There are full time traders out there with millions of dollars of research capital available to them. They have teams of PHD math wizards and teams of programmers available to them to look for market edges.[/QUOTE]

Good point Longshot666 and because I am new to trading, I am going to try to follow what those guys do

AB
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Old Oct 20, 2004, 10:26pm   #105
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You see when people make intelligent posts like nobrainer and longshot they deserve credit because it's obvious they know what this game is about.

But when people come onto any message board and make ridiculous claims then they should expect to be shot down in flames and derided. Of course there are exceptions to every rule but to state you or a friend makes 1000's percent in short periods of time (as if it's easy), well personally I prefer to live as nobrains says in the 'real world'.

PS. Marketgeeni, repeat 10 times before you go to bed and also first thing in the morning;

i before e except after c
i before e except after c
i before e except after c etc etc
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Old Oct 21, 2004, 12:10am   #106
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The original questio was "Is it possible to make money in this trading lark?"

Do divergences make money? I will let you decide. When the lines of the RSI and Mkt converge to the right on a lower low of the market this is a buy.
When the lines RSI and Mkt diverge on a higher high in the market this is a sell.
Notice that there is confirmation that the trend has ended buy the peaks on the black ADX.
200 x £10 stake = £2000, not bad for a days work. Worth looking into?
Click the image to open in full size.

You could be a wimp or just have a poor system and risk 1%, with a 20 point stoploss you would make 10% ROC

You could risk 40% max (not recomended) and make 400% in one day.

You could work out the optimum amount you could risk without ruin, based on your current trading performance and risk say 10%. this would make 100%.

I do not see what is difficult with the above chart. If you do not understand it, you shouldn't be trading. It is free and does not look like a Christmas tree or spaghetti junction.

All you have to do is buy when the market is going up and sell when it is going down nothing else, that is what all the systems, methods, indicators aim to achieve.

This cannot be right it must be b@ll@cks because you can't make these sort of gains, you can't win 90% of the time. Damn I thought I had it sorted.

I will buy and hold the Dow, nice only down 11 points today.
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Old Oct 21, 2004, 12:55am   #107
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Great post, juanbyte, and one of the best examples of divergence I've seen for a while.
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Old Oct 21, 2004, 12:59am   #108
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Quite simple but very effective, thanks for sharing that.
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Old Oct 21, 2004, 3:11am   #109
 
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juanbyte expects us to decide if divergences make money based on a single day, with a whopping 5 "pseudo after the fact signals" on it?

If I show you a system with 5 winners in a row, would you buy it from me for $10,000??? Cuz I have an unlimited number of systems that can show this behavior

In fact, I can trade at random and get 5/5 winners in a day every now and then.

If you are attempting to convince someone that something works, you must provide a statistically significant sample set or its worthless information.
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Old Oct 21, 2004, 8:18am   #110
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I don't look at 1 min charts so I don't what sort of reactions you need to deal with them however, as as been pointed out many (groan) times in the past this is a great deal easier to see retrospectively off a chart than it is in real time....that right hand edge fools most people real time.. having said which divergence is a favourite of mine for confirmation purposes only..
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