Recent content by BobbyBB

Just wondering, is it now possible to achieve any success in life/business/trading WITHOUT a mentor? :)

True, but the price of risk management also plays an important role. And the price of the guaranteed insurance is horrific over many trades, far more than if the trader accepted the slippage (which may of may not come, and if it does is often not bad at all). By all means use a guaranteed stop...

Yes they can, but most hardly ever do (excluding earning announcements but we know those dates). One can also get slipped 10-20+ ticks on the FTSE, but hardly ever (excluding big announcements but we know those dates/times). Ask yourself the question why they're only offered to small...

Try it, the added costs will kill your P&L especially with the horrible costs of the spread on most stocks plus the inability to buy the bid or sell the offer. Mind you, the trader who trades that way will become a very 'valued client' of the spread bet company so I suppose there is a positive...

The other point to realise in all of this is that slippage is just part of the business, it's nothing to be afraid of. Slippage is like owning a shop and having to put up with some shoplifting. Yes, it happens, and there's nothing that's 100% effective against it (apart from not trading) so...

Financial nightmares more like. Yes, it's 'easy' but then so is burning a pile of £50 notes, just light a match. Look at the costs of the insurance policy then work out the costs of self insuring, ie take the occasional slippage like a trader is supposed to. What you'll find is this - self...

Well, if you don't agree that it's mental (for you) and it's all about method then you are one of the few and if you can deliver a half decent method (it doesn't have to be any better than that if the metnal side is no so relevant) you really have a great future ahead of you, acres of Diamonds...

There's not one established spread betting client that's paying tax I can guarantee that and it's all down to the spread. Assume you made £1million last year trading spreads and assume the taxman taxed you at 40%, would you be trading spreads the next year with the costs of their spreads and...

But who controls the computer, you or the computer? You do, which is why you can override the system even if it wants to trade. Fear and greed then is no different than if you used no system and picked your trades straight from the chart. I still maintain that a 20% drawdown is far too much...

Also look at trading Lmax through the Pathfinder software, it's an option if you need quicker trading access using their DOM (Depth of Market)- Why PathFinder Trader? - A quick look to our trading platform - PathFinder Trader™ Platform - FastBrokers

Interactive Brokers, arguably the best in the business. If one short term trades then IB + Button Trader is a package made in heaven. However, if you're going to deposit under £20,000 then better to go with somebody like Lmax. I've never used any of the bucket shops but I hear that Onada...

One point to think hard about Algos is this. If you never knew they existed would you recognise their existance when you're following and trading the market? Most wouldn't, I trade FX where they're active (although not nearly as active as stocks) and I can't spot their work, it all looks like...

I wouldn't. Sure, they'll go on about how they've introduced Binaries as another tool for their clients to use but the rough translation to that is they've introduced them to help the transfer of client money into the broker's account. The mistake 99% of Binary users make is thinking that...

1% risk per trade looks far too much to me, but it does depend on your good your mental game is. 134 losses in a month, which means it would be possible to have 10-20 in a row, which equates to a 10%-20% drawdown. Many say they can handle a 20% drawdown no problem, but if/when it comes they...

Exactly. It's your view onthe market that will make/lose you money. So why trade something with a 3% cost when you can trade something with a 0.02% cost. Binaries are just a tool to separate mug punters from their cash, nothing more. Ever wondered why for example there are so many affiliates...