University Trading

This is a discussion on University Trading within the Trading Journals forums, part of the Reception category; I'm 19 and currently at uni, and have recently opened a spread betting account with £150. My goal of this ...

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Old Apr 15, 2012, 1:41am   #1
Joined Jul 2011
University Trading

I'm 19 and currently at uni, and have recently opened a spread betting account with £150.

My goal of this journal is too improve my trading and more importantly get some financial experience in the markets and make some money

I've read allot on price action and have also looked at the making money trading thread which has been very helpful and this was reflected in my demo account which remained heavily above the green.

i know downfalls of spread betting and the odds of making money (90 percent of spread betters losing), but i believe the amount of research and application I've done should limit my potential loss and favor gains.
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Old Apr 15, 2012, 2:23pm   #2
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Re: University Trading

Quote:
Originally Posted by oshunt View Post
I'm 19 and currently at uni, and have recently opened a spread betting account with £150.

My goal of this journal is too improve my trading and more importantly get some financial experience in the markets and make some money

I've read allot on price action and have also looked at the making money trading thread which has been very helpful and this was reflected in my demo account which remained heavily above the green.

i know downfalls of spread betting and the odds of making money (90 percent of spread betters losing), but i believe the amount of research and application I've done should limit my potential loss and favor gains.
I'd say you're wasting your time. It could take several years to be profitable.
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Old Apr 15, 2012, 4:47pm   #3
Joined Jul 2011
Re: University Trading

oshunt started this thread OK the strategy i'm using is pin bars supported by S&R and fibonacci retracement levels and will posting my trades on here, winning and losing to track my progress.
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Old Apr 15, 2012, 4:50pm   #4
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Re: University Trading

oshunt started this thread
Quote:
Originally Posted by pboyles View Post
I'd say you're wasting your time. It could take several years to be profitable.
That's fine with me, I would rather start now on my portfolio cause I need to show it to potential employers, just to show i'm interested and have had some trading experience.
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Old May 8, 2012, 9:15pm   #5
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Re: University Trading

oshunt started this thread research 8/05/2012

Due to me working full time while im back from uni I've decided to not trade Forex and focus on indices and, also due to me being more of a beginner than an amateur in this world we call trading i'll look at commodities further in the future.

I've decided to focus on 12 indices; FTSE 100, FTSE 250, DAX 30, CAC 40, S&P, DJI AVERAGE, AUSTRALIAN INDEX, RUSS 2K, NIKKEI 225, SINGAPORE, HONG KONG INDEX.
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Old May 9, 2012, 11:38pm   #6
 
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Joined May 2008
Re: University Trading

Quote:
Originally Posted by oshunt View Post
I'm 19 and currently at uni, and have recently opened a spread betting account with £150.

My goal of this journal is too improve my trading and more importantly get some financial experience in the markets and make some money

I've read allot on price action and have also looked at the making money trading thread which has been very helpful and this was reflected in my demo account which remained heavily above the green.

i know downfalls of spread betting and the odds of making money (90 percent of spread betters losing), but i believe the amount of research and application I've done should limit my potential loss and favor gains.

What are you studying mate?
I guess students these days can afford to lose £150 (or if you are at Oxbridge, that's probably £1500 ).

It's always worth keeping an eye on FX though, even if you don't trade it, but only the majors: USD, EUR, GBP, JPY (though it's almost never worth trading the Yen in my humble opinion; your mileage may vary), and keep an eye on gold as well.


It's probably better than pissing money away in the bar, although of course the temptation would be to trade and píss your money away in the bar. I know I would have
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Old May 23, 2012, 8:45pm   #7
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Re: University Trading

oshunt started this thread
Quote:
Originally Posted by montmorencyt2w View Post
What are you studying mate?
I guess students these days can afford to lose £150 (or if you are at Oxbridge, that's probably £1500 ).

It's always worth keeping an eye on FX though, even if you don't trade it, but only the majors: USD, EUR, GBP, JPY (though it's almost never worth trading the Yen in my humble opinion; your mileage may vary), and keep an eye on gold as well.


It's probably better than pissing money away in the bar, although of course the temptation would be to trade and píss your money away in the bar. I know I would have
I'm studying business Studies at Coventry uni atm, and i guess the main reason why i don't wan't to trade forex is cause it doesn't make sense to me at the moment, by that i mean how it works. Thanks for the advice thought iv'e added those forex and commodities to my watch list.

yh i thought learning to trade would be more benificial than going to the pub every other day lol
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Old Jun 20, 2012, 11:28pm   #8
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Re: University Trading

oshunt started this thread After finally trying to understand how pin bars work i'm ready to go live with a demo account for 3 months.
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Old Sep 7, 2012, 3:47pm   #9
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Re: University Trading

oshunt started this thread Thought I was ready to take the plunge I was wrong

Cut my demo account half a month early, and opened account with a spread betting company.

In the demo I've done well averaging a ten percent increase each month on the 10,000 making it 13,243 in the two and half months, just trading PA.

However its not real money and in my real spread betting account which i started with £100 i'm down 20% already at £80.20. all the principles i applied in my demo just went out the window, all the records i did, the entry reasons and so on have,just disappeared in this account. Looking back i've literally just blind traded s&r looking for good money mangement (it hasnt worked ) .

i'm trading at 10p per point atm and that means ive lost almost 200 points just because i haven't been taking this seriously, because it's such a small amount of money which is the wrong way to think about it. i've read other peoples journals and they have turned less money than this into very respectable amounts.

There our positives i've learned from this £20 education fee:
  • -I dont know how to trade support and resistance (so i need to learn how to draw trend lines correctly and understand whats weak and strong, and how to enter these correctly so i'm on the right side of the market.(break retest for example).
  • -I haven't been treating this like a business i have no model,trading plan or neat way to record trades and why I took them.

So over the next couple of days my aim is going to be to improve on theses areas, if not and i get to £70 i will re evaluate again.
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Old Sep 7, 2012, 4:31pm   #10
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Re: University Trading

good learning here....keep going

you stop being an amateur when you bet with real money ......

So now learn to swim with those sharks - and dont get bitten !

N
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