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; Longshot 666...........that's a great post and pretty much sums it up .I esp. like points 1 to 7.Pretty conclusive !! ...

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Old Oct 19, 2004, 6:01pm   #61
Joined Dec 2001
Longshot 666...........that's a great post and pretty much sums it up .I esp. like points 1 to 7.Pretty conclusive !!
Lions63......just cos some of us choose to mock this fairy tale, does not mean we can't trade.As for your assertion that he's made more than all us put together in his trading career, well that's another figment of your imagination.Thanks for the fun.
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Old Oct 19, 2004, 6:30pm   #62
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SarahM,

The doubters exist because they cannot foresee themselves achieving anything tangible, they are so blind that they walk through life without seeing the finer things.
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Old Oct 19, 2004, 6:51pm   #63
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Longshot666,

Am I to believe that you have nothing better to do with your time than calculate the returns that others may or not make in the market? Are you so sad that you have spent the last few days agonising over this issue? Maybe I will tell my friend to make you a gift of a few thousand; sorry you would not be able to handle that thirty pieces of silver would be better.

I can see that you and nobrainer have chosen apt names that describe yourselves. In case there are any other cheerleaders egging you on, I will point out one minor thing which you do not seem to know - there is NO TAX paid when you spreadbet. What an individual does with his money is none of your business, he does not require your consent or approval, you would not know what to do with £20,000 not to talk about over £2million. The difference between him and the have nots is that he realises that properties without mortgages do not get stopped when the markets move against them and there is never a chance of being broke.

As for the insults you have levied at me ........ I can handle them, it shows that you are little better than a CAD. People like you should not be posting threads on these boards as you defeat the object that this Community was set up for, may I suggest that you read the thread from the outset and you will find that you have taken the rest of us off track out of total selfishness and envy. It is advisable that you go and ply your trade elsewhere. Why would I need to fabricate stories to impress the likes of you? I am too busy taking your money to mess around with such things. Time to wake up and realise that although the world is full of losers, there are some winners out there but you are not among their ranks.
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Thanks! The following members like this post: longshot666
Old Oct 19, 2004, 7:07pm   #64
 
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You can always spot a liar when he continuously refuses to address any point you make, and instead attacks you personally. Thank you for verifying the obvious truth.

My list stands completely unchallenged.

You may now return to being gullible enough to believe that someone with a trading system that can make 145 QUADRILLION dollars in 4 years exists

Pardon me while I laugh myself to death.

I understand why you are so upset that you are rampaging like a little child. Its embarrassing when someone shines the light of logic on a false claim.

Oh... and tell your "friend" I have no need for a few thousand in monopoly money, I have plenty of real equity to trade with. LOL

Tax free trading? Tell me another one
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Old Oct 19, 2004, 7:27pm   #65
 
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Philip Green bought BHS for £200m of which he borrowed £180m and 'only' invested £20m of his own cash. 18 months later BHS was valued at £1,200m. So he turned £20m into £1,000m (after paying back the borrowings and interest) in 18 months.

Extraordinary returns are more than possible and it's certainly easier to make fantastic profits with small amounts of capital like £500 than £20m!
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Old Oct 19, 2004, 7:45pm   #66
 
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This is not an extraordinary return compared to the fairy tales told here

Thats only a pathetic 5000% return in 18 months. (wink wink)
This guy is claiming 400,000% return in just 6 months. LOL


Quote:
Originally Posted by sidinuk
Philip Green bought BHS for £200m of which he borrowed £180m and 'only' invested £20m of his own cash. 18 months later BHS was valued at £1,200m. So he turned £20m into £1,000m (after paying back the borrowings and interest) in 18 months.

Extraordinary returns are more than possible and it's certainly easier to make fantastic profits with small amounts of capital like £500 than £20m!
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Old Oct 19, 2004, 8:00pm   #67
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Longshot,

It is possible to trade Tax Free in the UK using Spreadbetting companies (something which is not permitted in the US). It is an ideal tool for anyone wishing to position trade but is not well suited to intra-day traders because of the spread. In the UK all profits from "Gambling" are tax free and spreadbetting is classed in this category. We have a number of spreadbetting companies which specifically advertise their services as trading tax free. Check out www.capitalspreads.com or www.deal4free.com


Paul
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Old Oct 19, 2004, 8:01pm   #68
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Longshot666,

You are not even asking logical questions or putting up any tangible argument you are like a kid who has not got the same toy the neighbour has. If you do not know about tax free trading you should not be in the markets. Even if you pay tax, do you know when the bill/assessment is issued by the Inland Revenue and or/when the bill becomes due? I did not think so.

Since you do not know much about percentage returns; return on capital employed; gearing; compounding; taxation or risk/reward ratios you have no chance of understanding how a man has turned £500 into over £2million. Sadly, it seems that you will never be able to understand and for that, I pity you.

You are a true Texan.
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Old Oct 19, 2004, 8:51pm   #69
 
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More attacks, more dodging and more silliness.
You still have not addressed my very logical argument, points 1 thru 10.
As for tax free trading, there is no such thing as truly tax free trading in the USA. Maybe you can explain how you can trade completely tax free in the UK and ill let the other UK traders shred your argument to pieces.

I dont know about percentage returns? You have provided no evidence of such nonsense.
I dont know about return on capital? You have provided no evidence of such nonsense.
Gearing, compounding,risk/reward? It seems someone clearly has no understanding of these issues, and it is clearly you since you have not challenged any of my compounding calculations.

So will you ever address my points 1 through 10, or will you continue on about what I supposedly do and dont know, as if you can read my mind. Are you a mind reader??? Do tell. How do you know what I know and dont know??? Very interesting.

Will you address the points which show what an obvious lie this is, or will you continue to attack me with fabrications, none of which you can back up?

If you really wish anyone to believe you, why dont you calculate this "friends" win% rate required to make a 400,000% return in 6 months, when his risk to reward ratio is 1 to 4?

It's painfully obvious that all you have done is attack me for pointing out the truth of the matter.
You never bother to argue the issue and instead throw out attack after attack.

This is clearly a sign of someone who knows they have been caught red handed.
Ill continue to enjoy watching you squirm around, throwing more attacks, in a silly attempt to dodge all issues at hand.


Quote:
Originally Posted by LION63
Longshot666,

You are not even asking logical questions or putting up any tangible argument you are like a kid who has not got the same toy the neighbour has. If you do not know about tax free trading you should not be in the markets. Even if you pay tax, do you know when the bill/assessment is issued by the Inland Revenue and or/when the bill becomes due? I did not think so.

Since you do not know much about percentage returns; return on capital employed; gearing; compounding; taxation or risk/reward ratios you have no chance of understanding how a man has turned £500 into over £2million. Sadly, it seems that you will never be able to understand and for that, I pity you.

You are a true Texan.
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Old Oct 19, 2004, 9:25pm   #70
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Longshot

Lion63 is quite correct it is possibe to make the low returns he has stated tax free.

I made 5501% in just four weeks, I could scan the statements but I think that you would still not believe it.

Compound this over 6 months it comes to 27 Billion% no wonder Finspreads stopped me from trading via the internet for "commercial reasons"

The point is anyone who does not believe it is possible definately won't achieve it.
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Old Oct 19, 2004, 9:25pm   #71
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You persist in trying to prove your wisdom when it is abundantly clear that you do assimilate what you read. It is not that difficult to understand the posts in this thread but you have consistently shown a lack of understanding or is it that you are so hell bent on arguing that you refuse to engage the brain before making your silly posts.
1. I trade in the UK so what do I care about your tax laws? Do you think that the tax laws in England have to
mirror those in the USA?

2. If an individual risks £100 for every £25 gain; how can that equate to a risk reward ratio of 1:4? Please
try and understand the basics before starting an argument.

3. Why should I care what you do or do not believe? I do not know you or give a s*** what you believe.
When my friend is spending his money he really has time to thing of what the 'Professor' out in Texas
believes. You do not matter, try and understand that, you are just another fly that he has to swat in the
market.

What you perceive as attacks on you are simple responses to your ungentlemanly conduct and there is no point in complaining about it.
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Old Oct 19, 2004, 9:29pm   #72
Joined Oct 2004
What more do people want? SarahM has spoken about her friend and now juanbyte has trumped the lot (at least percentage wise). Or maybe someone out there is going to call him a liar as well? Any takers?
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Old Oct 19, 2004, 10:18pm   #73
 
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Again you fail to address all the issues I pointed out and it speaks volumes.



Quote:
Originally Posted by LION63
You persist in trying to prove your wisdom when it is abundantly clear that you do assimilate what you read.
According to you maybe, but all I did was point out the obvious flaws in your story.


Quote:
It is not that difficult to understand the posts in this thread but you have consistently shown a lack of understanding or is it that you are so hell bent on arguing that you refuse to engage the brain before making your silly posts.
Yes, its quite easy to understand the posts, and it shows that your story doesnt add up.


Quote:
1. I trade in the UK so what do I care about your tax laws? Do you think that the tax laws in England have to
mirror those in the USA?
I didnt say you should care. Are you hearing voices now?
If you claim you can trade tax free in the UK, point us to a document that supports your claim.


Quote:
2. If an individual risks £100 for every £25 gain; how can that equate to a risk reward ratio of 1:4? Please
try and understand the basics before starting an argument.
Yes, please understand what you are saying. Let me break this down to you, since you dont understand the basics. To calculate the risk reward ratio you must take the potential reward and divide it by the risk. In your "friends" case, that would be:

Potential reward: 25 pips
Potential loss: 100 pips

25/100 = 1 to 4 rr ratio. This is an absolutely horrible rr ratio. Risking $100 to make $25? Yes sir, thats a real trader for you

Notice, he needs a 75% win rate JUST TO BREAK EVEN
To make the 400,000% return in 6 months, his win% would have to be in the high 90s

Quote:
3. Why should I care what you do or do not believe? I do not know you or give a s*** what you believe.
I never said you should care what I believe. Hearing voices again?

Quote:
When my friend is spending his money he really has time to thing of what the 'Professor' out in Texas
believes. You do not matter, try and understand that, you are just another fly that he has to swat in the
market.
Oh right, tell him to enjoy his little plastic monopoly money houses LOL!

Quote:
What you perceive as attacks on you are simple responses to your ungentlemanly conduct and there is no point in complaining about it.
Maybe you can go ride around in his litte metal monopoly money car this weekend too LOL!
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Old Oct 19, 2004, 10:28pm   #74
 
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Can't belive this threads still going........
Lion, your a comedy genius! Keep it up.
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Old Oct 19, 2004, 11:08pm   #75
 
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Newsflash!

Today I bet huge, and made 400,000% return in 6 hours of trading. Yes it is true. These other clowns are a joke. Taking 6 months to make 400,000% PFFFFFTTTT, newbie beginners. Oh, and I made this tax free. Know how? I didn't trade after all, thats how. I spread bet. There is no taxes on spread betting because its legally gambling, and not trading. So the truth is, I gambled my way into 400,000% in 6 hours. Im not a trader at all, im a hot shot gambler. Do not doubt me, because I do not care what you think. All your numbers that show how impossible this is do not matter to me because I did it. Really I did, and I dont care what any of you say, so there!
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