peakoil peakoil is offline

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About Me

  • About peakoil
    countryCode
    GB
    Country
    United Kingdom
    Gender
    Male
    Interests
    Composing Electronic Music, Behavioural Psychology & Economics, Probability, Poker/Backgammon, my wife & her cooking (indeed, she'd ****ing k**l me if it wasn't!!) photography, & an 'open minded' skeptic on *some* aspects of paranormal
  • Trading Profile (OLD)
    We'll be phasing this section out shortly. All members are encouraged to fill out the NEW Trading Info section.
    Trading Style
    1) (short term) Buying or selling the retest of a breakout from a consolidatory pattern (i.e, profiting from breakout failures) 2) (medium term) Selling crude's new highs and buying the retests. (long term) Buy & hold paddy power(the bookie...wins!)
  • Trading Profile
    All the info about your trading skills, preferences and background.
    Trading Biography
    I started in the late 90's. My best friend was (& he managed to become wealthy enough to retire young, with family, so he now trades occasionally from home) an extremely successful arb trader & marketmaker at a well known international IB. He helped his good friend, in his spare time, learn a lot about how the markets truly function from a mm's perspective. Albeit, being single then, meeting sexy girls (v rare!) was naturally our usual primary focus. Hmmm. Nonetheless, he also introduced me to spread betting, which many still look down upon, without realising just how popular it was (and still is!) with city folk. And so, before I knew it, I was spread-betting with 'Deal4Free' and 'IGI' long before the marketplace became as competitive as it is nowadays. Things were very different back then... Suffice to say, I experienced great positive change over the years as the spread-bet industry evolved - which was most welcome indeed. Of course, despite my friend's great help, I was still V unsuccessful for many, many years. Alas, let's move forward to the late 2000's.

    In recent years I have, at long last, got a hold of myself and feel privileged/lucky that I have survived long enough to have had the opportunity to re-evaluate what I was doing and... turn things around. :-) From 2010 onwards I became a "Fader": While mindful of overall trending conditions, I fade technical and some immediate news driven extreme overbought and oversold conditions. If e.g. a news event causes a wild move in the markets, I look for price exhaustion, and fade accordingly. My time-frame is usually several hours (or less!), sometimes days and even months, the odd time - depending on my read... Also, I rarely use stop losses, as I tend to wait patiently for extreme price levels and start buying or selling accordingly, with the eventual goal to build patiently a large position, seeking price reversals. I bet mostly on commodities: oil, gas, silver, & gold. + some UK equit...
    Trading Experience
    More than 5 Years
    Trading Work Status
    Spare-Time
    Preferred Trading Style
    Swing Trader
    Preferred Trading Methodology
    Break Outs, Candlesticks, Chart Patterns, Contrarian, Momentum, Price Action, Retracements, Reversals
    Preferred Market Regions
    UK
    Preferred Markets
    Currencies, Indices, Stocks, Energies, Metals
    Preferred Trading Instruments
    Spreadbetting
    Preferred Forex Currencies
    USD, GBP, EUR, AUD
    Preferred Spreadbetting Brokers
    ETX Capital, IG Index
    Preferred Realtime Data Providers
    ADVFN
    Favorite Trading Books
    Diary of a Professional Commodity Trader - Peter Brandt (IMO the Very Best Contemporary Trading Book You Could Buy!)
    Beat The ForexDealer - Agustin Silvani (if you Don't read the above, then at least read this, albeit less detailed, exceptional one!)
    Encyclopedia Of Chart Patterns - Bulkowski (A Recent Classic - esp re chart failures)
    Reminiscences of A Stock Operator (The classic of trading classics)
    Favorite Trading Magazines
    Investors Chronicle
    Favorite Trading Tip
    A market guru once said of the secret to success in trading: "give me a minute, and I'll tell you to buy low and sell high; give me a lifetime and I'll show you what is low and what is high!"

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General Information
  • Last Activity: Feb 2, 2018 9:27am
  • Join Date: Jul 1, 2008

Friends

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Mentions

Sep 15, 2017
12:58pm - peakoil mentioned mike. in post Queries re Stops and Intertrader
@mike. exactly - there's an...
Mar 3, 2017
5:08pm - peakoil mentioned fillorkill in post Percentage of Winning Traders - The real numbers
fillorkill - I don't mean to be...
Dec 7, 2016
11:27am - peakoil mentioned forker in post FCA concerns on Spreadbetting
forker, with respect, this ...
Dec 6, 2016
3:37pm - peakoil mentioned timm in post FCA concerns on Spreadbetting
timm - absolutely agree. ...
Feb 4, 2016
7:43pm - peakoil mentioned timetotrade simon in post So ETX Want To Punish Anyone Who Doesn't Use His A/C At Least Once in 4 Months!
timetotrade simon, just to clarify som...
Jan 22, 2016
10:59pm - peakoil mentioned lexcorp in post So ETX Want To Punish Anyone Who Doesn't Use His A/C At Least Once in 4 Months!
lexcorp - an interesting res...
Sep 12, 2015
4:30pm - peakoil mentioned wackypete2 in post Windows 10 for free
wackypete2 - well that's a good...
Jul 19, 2015
7:29pm - peakoil mentioned tomorton in post What qualification should i get - or should I get one ?
tomorton aye indeed, 'twould ...
11:41am - peakoil mentioned tomorton in post What qualification should i get - or should I get one ?
...inclination... ;-) tomorton - it's best for most...

Quotes

Sep 15, 2017
1:47pm - highbury fx quoted peakoil in post Queries re Stops and Intertrader
...u in advance. Hi Peakoil I'm not 100% cert...
12:35pm - mike. quoted peakoil in post Queries re Stops and Intertrader
Thanks mike. :-) Sounds good...
Sep 10, 2017
1:23pm - EnlightenedJoe quoted peakoil in post Beginners guide to Spread Betting
No, a newbie shouldn't be ab...
Jul 24, 2017
7:09am - foroom lluzers quoted peakoil in post 95% of traders lose... This is nothing more than a myth.
@ foroom lluzers, I would op...
Jul 23, 2017
8:52pm - foroom lluzers quoted peakoil in post 95% of traders lose... This is nothing more than a myth.
How can I be wrong, I must n...
8:42pm - foroom lluzers quoted peakoil in post 95% of traders lose... This is nothing more than a myth.
But it's extraordinary that ...
3:19pm - Lee Shepherd quoted peakoil in post Anyone need any help?
...rs for now. Hi Peakoil, Thank you for th...
Apr 24, 2017
12:07am - Jason101 quoted peakoil in post Percentage of Winning Traders - The real numbers
ISSUE: The FSA are all of a ...
Apr 2, 2017
7:02pm - gerryg quoted peakoil in post Are you 10% or 90%
Re "as the ratio of losers t...
Mar 7, 2017
4:00pm - sminicooper quoted peakoil in post What if?
Thank you for saying so. ...
3:16pm - sminicooper quoted peakoil in post What if?
So, only 1 in five people co...
Mar 3, 2017
5:17pm - Fill_Or_Kill quoted peakoil in post Percentage of Winning Traders - The real numbers
fillorkill - I don't mean to...
4:37pm - Fill_Or_Kill quoted peakoil in post Percentage of Winning Traders - The real numbers
@ FillorKill, Hi there, I se...
Dec 7, 2016
11:34am - forker quoted peakoil in post FCA concerns on Spreadbetting
it must not be your only inc...
Nov 26, 2016
5:28pm - darktone quoted peakoil in post Am i capable of being a good trader?
No is the short answer. The...
Apr 16, 2016
11:57am - cbrads quoted peakoil in post Staying under the radar
Hi there, Quite aside fro...
9:20am - Sonicscooter quoted peakoil in post Staying under the radar
Rhetorical question: ahhhh b...
1:09am - Sonicscooter quoted peakoil in post Staying under the radar
@ sonicshooter - it's submit...
12:02am - peakoil quoted cbrads in post Staying under the radar
Hi, I been Spread betting U...
Feb 5, 2016
11:08am - peakoil quoted timetotrade simon in post So ETX Want To Punish Anyone Who Doesn't Use His A/C At Least Once in 4 Months!
All gaming companies have the 6 month ...