Cashmaster PIE

This is a discussion on Cashmaster PIE within the First Steps forums, part of the Reception category; Originally Posted by gerryg Any proofs or just naked words? For example trading forex I can link my hot forex ...

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Old Jun 18, 2014, 9:37pm   #25
Joined Aug 2011
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Originally Posted by gerryg View Post
Any proofs or just naked words? For example trading forex I can link my hot forex account to Myfxbook or other monitoring system to show my performance. In your case it is just made-up story without an earned cent at the back.
Believe me or believe me not, I really don't care.

Yes, I have detailed spredsheets of every trade I have made, monthly and yearly stats, but why should I share them with you? as it would only give away the strategy, which as I'm sure even you can understand, I shouldn't do.

Even if I did provide a snapshot of my profits, I'm sure you would only turn round and say 'anyone could make those numbers up'!

Last edited by simonh88; Jun 18, 2014 at 9:49pm.
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Old Jun 19, 2014, 8:11am   #26
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Originally Posted by simonh88 View Post
Hi Pork Pie,

It's possible or probable more likely that you could trade more frequently and increase your monthly/annual % return. The 2 people who run the course, Paul and Glynn do things differently. Paul just trades like me once a month and lets the profits kick in, Glynn on the otherhand looks to close out positions and trade again within the same period. That is when you read of the 'up to 25% p.a. returns'.

I have thought in the past that if in 1 month period, my unrealised profit hit the £1k mark (2% return for the month), I should close out all positions and start again. Every few months I get in that position and perhaps I should do that just to see what retruns I get in the following months.

Realistically, doing my normal trading pattern, I'm going be hitting upto 18% p.a. which for a cautious individual like myself, i'm content with that.

I know Graham is running an account with GFT in parallel, as is Paul. It is something I will be looking into over the next few months, but I don't know a great deal about spread betting - I tend to shy away from risky adventures, but running the P.I.E system with stop losses should be safe evn for me.

I'm in the middle of cashing in my pensions and transferring them to a SIPP account to run the P.I.E system with my funds, that's how confident I am of retruning 15% approx every year on my capital.

Nearly forgot the 1 losing trade resulted in me losing £252 that month or -0.84% of my bank, rather than earning approx 1.4%. It was my 6th month of trading and I took too much of a risk, something I won't do anymore. That was in Feb 13 and in the April I made just over 2% as I slightly changed the strategy, which I know both Paul and Graham have done as well.

Cheers
Si
Interesting. Thanks Simon.
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Old Jun 19, 2014, 10:36am   #27
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Originally Posted by simonh88 View Post
Believe me or believe me not, I really don't care.

Yes, I have detailed spredsheets of every trade I have made, monthly and yearly stats, but why should I share them with you? as it would only give away the strategy, which as I'm sure even you can understand, I shouldn't do.

Even if I did provide a snapshot of my profits, I'm sure you would only turn round and say 'anyone could make those numbers up'!
Working strategy will be never on sale. 100%. Nature of survival says.
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Old Jun 19, 2014, 9:38pm   #28
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Originally Posted by Porkpie View Post
Interesting. Thanks Simon.
You're welcome PorkPie, anything lese feel free to mail me.
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Old Jun 19, 2014, 9:52pm   #29
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Originally Posted by gerryg View Post
Working strategy will be never on sale. 100%. Nature of survival says.
.
what a stupid comment!

You are talking utter rubbish 100% , there are without doubt a lot of strategies out there that do work, not just P.I.E, it's a case of doing some research and finding the ones that suits you. If you seriously expect to pick one up on ebay that will earn you 5%+ per week for £10, then you really are living in dreamland.

You sound very naive and bitter, so good luck managing your losses - I know I won't have any and I even know how much I'll make in June and the % (1.49)
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Old Jun 23, 2014, 10:07am   #30
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daveyboy22 started this thread
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Originally Posted by simonh88 View Post
.
what a stupid comment!

You are talking utter rubbish 100% , there are without doubt a lot of strategies out there that do work, not just P.I.E, it's a case of doing some research and finding the ones that suits you. If you seriously expect to pick one up on ebay that will earn you 5%+ per week for £10, then you really are living in dreamland.

You sound very naive and bitter, so good luck managing your losses - I know I won't have any and I even know how much I'll make in June and the % (1.49)
Simon,

I was the originator of this enquiry.

Many thanks for your report on how well you are doing with PIE.

As you have discovered, a lot of people just assume that this is a scam - too good to be true.

I had given up on getting a response from someone who had actually had experience with PIE - thanks for taking the time to put up your own experience.

Can I ask if the 16% profits are taxed and, if so, what % is payable?

I really want to give this a go but I am having great difficulty in persuading my wife that it is a genuine system and as risk free you can get with this sort of trading. Can't say that I blame her as I have lost a lot of money in the past on 'too good to be true' ventures.

Cheers,

Daveyboy.
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Old Jun 23, 2014, 11:06pm   #31
Joined Aug 2011
Hi Daveyboy,
I can understand yours and your wife's concern that it's not just another dodgy scheme.

Profits are subject to capital gains tax, but only on profits above £10,900 p.a. for an individual. So in theory if you started getting above those profit levels, you could mitigate your tax burden by opening 1 account in your name and another in your wife's name so that would be nearly £22k tax free p.a.! This would equate to having approx £130k invested in the scheme.

Once the threshold is reached tax becomes payable at a rate of either 18% or 28% depending upon current salary. Basic band is £32k ish, so with personal of allowances of £10k approx, your 18% rate is about £42. If your salary is £30k and profits £15k, you would pay 18% on £12k and 28% on £3k. Hope that makes sense!

I expect to make a profit (tax free!) of about £8-£8.5k this year and I now trade with a bank of £50k. I will explore at some point the option of running the scheme with the spreadbetting firm and try to build up my bank with them and as there are no capital gains tax to pay with this method as you never actually own the assets you are trading on.

It's not going to make you rich overnight, but if your are a naturally cautious person as I am, you will be well satisfied with your returns. If you are someone who always wants a little bit more, then your risk will need to be greater in order to return the 20%+. Personally with interest rates being under 2%, anything above 10% and I would be very happy with, but I’m comfortable with the level of my risk, meaning I can aim for the 14-17% range.

As i mentioned before I have had 1 losing trade which made me a loss for the month of £252, with other trades offsetting the loss.

If you would like to discuss all this via email/phone, feel free to get in touch directly.

And before anyone says, I won't earn any commission whatsoever, I'm just more than happy to help mentor someone and help them achieve financial independence and maybe they or someone else might have a good idea for improving the strategy which I hadn’t seen.

I'm assuming you've seen the P.I.E scheme being promoted on the Cash-master blog and watched the videos? and without knowing the individuals concerned, I have no doubt whatsover that they are the real deal.

Cheers
simon

Last edited by simonh88; Jun 23, 2014 at 11:15pm.
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Old Jun 24, 2014, 8:24am   #32
Joined May 2008
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Originally Posted by simonh88 View Post
Hi Daveyboy,
I can understand yours and your wife's concern that it's not just another dodgy scheme.

Profits are subject to capital gains tax, but only on profits above £10,900 p.a. for an individual. So in theory if you started getting above those profit levels, you could mitigate your tax burden by opening 1 account in your name and another in your wife's name so that would be nearly £22k tax free p.a.! This would equate to having approx £130k invested in the scheme.

Once the threshold is reached tax becomes payable at a rate of either 18% or 28% depending upon current salary. Basic band is £32k ish, so with personal of allowances of £10k approx, your 18% rate is about £42. If your salary is £30k and profits £15k, you would pay 18% on £12k and 28% on £3k. Hope that makes sense!

I expect to make a profit (tax free!) of about £8-£8.5k this year and I now trade with a bank of £50k. I will explore at some point the option of running the scheme with the spreadbetting firm and try to build up my bank with them and as there are no capital gains tax to pay with this method as you never actually own the assets you are trading on.

It's not going to make you rich overnight, but if your are a naturally cautious person as I am, you will be well satisfied with your returns. If you are someone who always wants a little bit more, then your risk will need to be greater in order to return the 20%+. Personally with interest rates being under 2%, anything above 10% and I would be very happy with, but Iím comfortable with the level of my risk, meaning I can aim for the 14-17% range.

As i mentioned before I have had 1 losing trade which made me a loss for the month of £252, with other trades offsetting the loss.

If you would like to discuss all this via email/phone, feel free to get in touch directly.

And before anyone says, I won't earn any commission whatsoever, I'm just more than happy to help mentor someone and help them achieve financial independence and maybe they or someone else might have a good idea for improving the strategy which I hadnít seen.

I'm assuming you've seen the P.I.E scheme being promoted on the Cash-master blog and watched the videos? and without knowing the individuals concerned, I have no doubt whatsover that they are the real deal.

Cheers
simon

Great info again, thanks Simon.
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