Going for it.,.

ffsear · Jun 12, 2009

My Trading Career starts on Monday 15.06.09 :clap: :clap: :clap:

After 18 months of sucessful demo trading, im taking the plunge and putting £5k into my live account. 3% risk per trade with with my goal being to raise a bank that will allow me to trade full time for a living eventually. SO i plan not to touch any of the profits.

Trading only FOREX via WorldSpreads.

Just wanted to share!

Technically Fundamental · Jun 12, 2009

Good luck mate. You better not fail. I need more people to pull it off so I can guage my own chances of success.:cheesy:

bbmac · Jun 12, 2009

ffsear said:
My Trading Career starts on Monday 15.06.09 :clap: :clap: :clap:

After 18 months of sucessful demo trading, im taking the plunge and putting £5k into my live account. 3% risk per trade with with my goal being to raise a bank that will allow me to trade full time for a living eventually. SO i plan not to touch any of the profits.

Trading only FOREX via WorldSpreads.

Just wanted to share!

Very good luck to you.

Martinghoul · Jun 12, 2009

Good luck! May the Force be with you!

blancspa · Jun 12, 2009

fingers crossed

Rossini · Jun 12, 2009

Best of luck but trading short term with world spreads is very difficult. Longer stuff should be fine.

gooseman · Jun 12, 2009

ambitious goal but fair play. what markets?

ffsear · Jun 12, 2009

Rossini said:
Best of luck but trading short term with world spreads is very difficult. Longer stuff should be fine.

I have heard this!. WIll give them a go but if I get hassle will move to Capital or IG.

Actually my reason for choosing worldspreads was because they turned me down for a Job after 4 interviews. It was between me and 1 other person at that stage, so I want to take some money off them!

Martinghoul · Jun 12, 2009

ffsear said:
I have heard this!. WIll give them a go but if I get hassle will move to Capital or IG.

Actually my reason for choosing worldspreads was because they turned me down for a Job after 4 interviews. It was between me and 1 other person at that stage, so I want to take some money off them!

Sorry, I am not exactly an expert on how they operate, but won't you be paying them bid/offer? So you will be giving them money, rather than taking your profits from them...

ffsear · Jun 12, 2009

Yes, if they hedge everything, which i doubt they do!

Technically Fundamental · Jun 12, 2009

Dont mean to be a party pooper but dont you think you'd be better off taking a grand out of the 5 and trying with that for a month or so to give you a chance to get used to the feeling of trading live and so that you can get the your head around how the broker you use is going to rob you?

gooseman · Jun 12, 2009

the broker has no need to try to rob you unless a) you're trying to rob them or b) they are crooked.

Martinghoul · Jun 12, 2009

ffsear said:
Yes, if they hedge everything, which i doubt they do!

Indeed, they probably don't. Still, surely you're not realistically expecting, on balance, to do damage to them, given that they probably hedge any large exposures they have and get paid bid/offer on some potentially serious retail volume?

ffsear · Jun 12, 2009

Aaronmalins said:
Dont mean to be a party pooper but dont you think you'd be better off taking a grand out of the 5 and trying with that for a month or so to give you a chance to get used to the feeling of trading live and so that you can get the your head around how the broker you use is going to rob you?

Nope, because a 3% risk on a grand is too small and my trade size would be well below the firm min. It would lead to me upping my % risk on each trade, can't be doing that!

Technically Fundamental · Jun 12, 2009

Gooseman >>>>>I mean the slippage and varying spreads that come with live trading. Plus adjusting targets, stops limits etc to account for the spreads was a tw@. Just trying to give a heads up to things I didnt expect when I went live.

advfntrader · Jun 12, 2009

good luck. 18 months demo shows dedication. why don't you start a journal ? ...may help you get your thoughts down

foredog · Jun 12, 2009

Aaronmalins said:
Dont mean to be a party pooper but dont you think you'd be better off taking a grand out of the 5 and trying with that for a month or so to give you a chance to get used to the feeling of trading live and so that you can get the your head around how the broker you use is going to rob you?

Not a bad point, maybe for the first week trade the minimum you can just to get used to pulling the trigger live.

tomorton · Jun 12, 2009

Very good luck. My ambition is to be self-supporting through trading too and give up my salaried job (although I enjoy it very much there are better things to do that I can think of).

I have a plan too -
Phase 1 - generally consistent return from trading
Phase 2 - make at least my salary in each of 6 consecutive months
Phase 3 - make double my salary in each of next 6 consecutive months
Phase 4 - resign work, trade, enjoy life more

So I am just 12 months away from where I want to be!

theSheik · Jun 12, 2009

any takers on what WorldSpreads is going to spend the 5k on?

foredog · Jun 12, 2009

The other guys wages!!!!!!!!:cheesy:

Going for it.,.

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