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; I'll put it another way. If your so called "friend" made a 400,000% return in 6 months he would be ...

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Old Oct 19, 2004, 2:19am   #51
 
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I'll put it another way. If your so called "friend" made a 400,000% return in 6 months he would be under investigation for securities fraud. Has he been investigated yet? I would be more prone to believe this myth if this was the case
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Old Oct 19, 2004, 8:30am   #52
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Since this whizzo made 2million but has spent 1.2mill ''IN CASH!!'' and also bought some buy to lets along no doubt with the red Ferrari, can we presume that he is now back to his £500 stake, LIONS63? Futhermore, if he has doubled that initial stake to £1000,can it be extropolated that his new 6 month target is 4million, based on ROCE, naturally?
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Old Oct 19, 2004, 10:47am   #53
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Maybe the guy is Andrew Carlssin?


Time travelling Wall Street Wiz?
Date: Friday, March 28 @ 12:30:51 GMT
Topic: Conspiracy Theories/Weird News


NEW YORK-Federal investigators have arrested an enigmatic Wall Street wiz on insider-trading charges-and incredibly, he claims to be a time-traveler from the year 2256!


Sources at the Security and Exchange Commission confirm that 44-year-old Andrew Carlssin offered the bizarre explanation for his uncanny success in the stock market after being led off in handcuffs on January 28.

"We don't believe this guy's story-he's either a lunatic or a pathological liar," says an SEC insider. "But the fact is, with an initial investment of only $800, in two weeks' time he had a portfolio valued at over $350 million. Every trade he made capitalized on unexpected business developments, which simply can't be pure luck. "The only way he could pull it off is with illegal inside information. He's going to sit in a jail cell on Rikers Island until he agrees to give up his sources."

The past year of nose-diving stock prices has left most investors crying in their beer. So when Carlssin made a flurry of 126 high-risk trades and came out the winner every time, it raised the eyebrows of Wall Street watchdogs.

"If a company's stock rose due to a merger or technological breakthrough that was supposed to be secret, Mr. Carlssin somehow knew about it in advance," says the SEC source close to the hush-hush, ongoing investigation. When investigators hauled Carlssin in for questioning, they got more than they bargained for: A mind-boggling four-hour confession.

Carlssin declared that he had traveled back in time from over 200 years in the future, when it is common knowledge that our era experienced one of the worst stock plunges in history. Yet anyone armed with knowledge of the handful of stocks destined to go through the roof could make a fortune.

"It was just too tempting to resist," Carlssin allegedly said in his videotaped confession. "I had planned to make it look natural, you know, lose a little here and there so it doesn't look too perfect. But I just got caught in the moment." In a bid for leniency, Carlssin has reportedly offered to divulge "historical facts" such as the whereabouts of Osama Bin Laden and a cure for AIDS. All he wants is to be allowed to return to the future in his "time craft."

However, he refuses to reveal the location of the machine or discuss how it works, supposedly out of fear the technology could "fall into the wrong hands."

Officials are quite confident the "time-traveler's" claims are bogus. Yet the SEC source admits, "No one can find any record of any Andrew Carlssin existing anywhere before December 2002." Weekly World News will continue to follow this story as it unfolds. Keep watching for further developments.
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Old Oct 19, 2004, 2:23pm   #54
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This guy

“uses 100 point stops on all major currency crosses (does not bother with the others) and looks for a return of 25 points.”

So, a ratio of 1 to 4.

In other words, for every loser, at least four winners would be required just to get close to breaking even.

On this basis, using £500 starting capital and enjoying an 80% win rate would result in … £500, less costs.

Am I misunderstanding something here or is this strategy, and the claim it supports, a crock of merde?
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Old Oct 19, 2004, 3:29pm   #55
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Longshot666,

Your name says it all.

The rest of You,

This is a free country and you can exercise that right and believe and say what you choose. He is the one with a luxury house (no mortgage), he is the one with buy to let properties (no mortgages); he is the one that has made in 6 months what you have failed to make combined in your trading careers. There seems to be a bout of Green Fever going round. Do you really think for 1 minute that he cares what you think or believe? Get real.

Some of you even have the cheek to call his integrity into question, what a sad and sorry way to carry on. A few of the posts show why most market participants are doomed to failure - You cannot believe or accept that others are better than you. You remind me of the school kids that blamed their failure on the fact that they were not the teachers favourite.

Boy,

Terrific research, try applying that intensity to the markets and you might make some real money. Try not to get arrested in the process and watch more Sci-fi movies for trading strategies (you probably watched Time Cop before writing your post).

THE WISE MAN HEARS AND GETS WISER.

A MAN WHO KNOWS NOT AND KNOWS NOT THAT HE KNOWS NOT IS A FOOL.
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Old Oct 19, 2004, 5:17pm   #56
 
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It is interesting to note how Lion63's friend seems to be shot down on this thread for being successful.

It may be unusual to accumulate such wealth from an initial investment and in this type of timeframe. But it does happen. I too have a friend who has been very successful with his trading. He made over £3 million on options trading in less than a year. He made £500,000 within six weeks of starting trading. He started trading with £1K.

Yes, it is the case that even after many years some traders do not make this. It may only be once in a blue moon that some individuals do accumulate such wealth from trading. But it does happen.
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Old Oct 19, 2004, 5:28pm   #57
 
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SarahM & Lion63

I'm not as cynical as some others on here but unless your respective friends have either found the holy grail or are so exceptionally talented that are set to surpass Bill Gates' net worth in a very short time, it would seem likely that they have done the equivilant of guessing a coin toss correctly dozens of times in a row, compounding every time.

Well good luck to them I say, my suggestion would be to put away a large proportion of their substantial gains, and / or trade with a much safer risk profile, now that they have so much more capital to risk.

Dave
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Old Oct 19, 2004, 5:55pm   #58
 
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Thanks for the story about the time traveller, it's one of the more believable stories on this thread.
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Old Oct 19, 2004, 6:04pm   #59
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LIONEL.

Relax, its only a bit of fun.
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Old Oct 19, 2004, 6:45pm   #60
 
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Red face Lol

Here are the facts:

1) A claim of 500 to 2 million in 6 months
2) A claim of a 400,000% return in 6 months ( same as #1 )
3) Your "friend" paid 1.2 million in cash for a house
4) He also purchased 3 other properties
5) Here is the miracle: He purchased all this after paying taxes on 2 million
6) Therefore the other 3 properties must be worth about a $1 each
7) Therefore he was stupid enough to spend all of his capital and has nothing left to trade with
8) I did the math, and this works out to be 7.2% gain a DAY
9) In one year he would have 2 billion dollars!!! What a moron for spending his capital on a house, he should have waited another 6 months
10) In four years he would have 145,302,000,000,000,000 Yes, thats 145 QUADRILLION Bill gates eat your hear out!

<------ focus closely on the bull**** meter


Learn to lie better. Learn to fabricate more believable "friends" Or learn to doubt friends who so blatantly lie to you.

This is the most poorly fabricated, obvious, trading myth I have ever heard. Thanks for the laugh.

I hope this urban legend has been buried so deep now, that it will never see the light of day again
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