Did our Wasp pull a fast one ?

Masquerade said:
Really? If some person demonstrated to you a consistent system with minimal drawdowns making large returns and you could deposit as much as you wanted and it was 99% certain you would profit out of it you wouldn't do it? You could go swanning around the world while this highly competent person turned your thousands into millions you'd say no? (Not saying wasp was this at all, but just speaking hypotheticals here)
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I will say no , it is the pleasure and the satisfaction when u make money by your own ...
 
Masquerade said:
Really? If some person demonstrated to you a consistent system with minimal drawdowns making large returns and you could deposit as much as you wanted and it was 99% certain you would profit out of it you wouldn't do it? You could go swanning around the world while this highly competent person turned your thousands into millions you'd say no? (Not saying wasp was this at all, but just speaking hypotheticals here)
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If someone could demonstrate a consistent system with minimal drawdowns making large returns and it was 99% certain I would profit out of it...it's extremely unlikely I would get to hear about it. They would most likely be trading their own money and if they wanted outside money (e.g. for bigger returns at lower risk) then they would go to a source of serious funding not someone on an internet bulletin board! :)

Anyway, I realise that didn't answer your question at all. I would say for me personally, the answer is most certainly no. That's not because it's not a good idea (if your hypothetical stats were guaranteed accurate) it's because trading is my business and I wouldn't want to give my money to anyone else to do what I should essentially be doing for myself. This might sound ridiculous to other people and that's fine but its just a personal thing. Perhaps something loosely along the lines of not wanting to invest in certain things (e.g. arms stocks) because you are not happy profiting from that.

Like the previous poster said, it comes down to satisfaction. If I gave someone £500 to trade and they returned me £1m, would I be happy? Of course, I'd be over the moon. But at the same time I would feel awful because they would have achieved something that i should be doing for myself and so I would have the money in my hand and feel like a failure.
 
tar said:
I will say no , it is the pleasure and the satisfaction when u make money by your own ...
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*cough* something rhyming with "trollocks".

Let's say a bank guaranteed you 100% return on your deposits, are you going to say: "no thanks, i'd rather go to the stock market and make 20% because i'll get more pleasure and satisfaction out of it". Feel free to substitute in your own numbers if you're some mega-star trader making hundreds if not thousands of % on your capital. I'd bet good money dante and those who claim to share your sentiment would bite the bank's hand off.
 
Masquerade said:
*cough* something rhyming with "trollocks".

Let's say a bank guaranteed you 100% return on your deposits, are you going to say: "no thanks, i'd rather go to the stock market and make 20% because i'll get more pleasure and satisfaction out of it". Feel free to substitute in your own numbers if you're some mega-star trader making hundreds if not thousands of % on your capital. I'd bet good money dante and those who claim to share your sentiment would bite the bank's hand off.
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Trading is a career for me and i want to be a professional at it , it is not about 100% or 20% return ....
 
trader_dante said:
If someone could demonstrate a consistent system with minimal drawdowns making large returns and it was 99% certain I would profit out of it...it's extremely unlikely I would get to hear about it. They would most likely be trading their own money and if they wanted outside money (e.g. for bigger returns at lower risk) then they would go to a source of serious funding not someone on an internet bulletin board! :)

Anyway, I realise that didn't answer your question at all. I would say for me personally, the answer is most certainly no. That's not because it's not a good idea (if your hypothetical stats were guaranteed accurate) it's because trading is my business and I wouldn't want to give my money to anyone else to do what I should essentially be doing for myself. This might sound ridiculous to other people and that's fine but its just a personal thing. Perhaps something loosely along the lines of not wanting to invest in certain things (e.g. arms stocks) because you are not happy profiting from that.

Like the previous poster said, it comes down to satisfaction. If I gave someone £500 to trade and they returned me £1m, would I be happy? Of course, I'd be over the moon. But at the same time I would feel awful because they would have achieved something that i should be doing for myself and so I would have the money in my hand and feel like a failure.
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Let's say you were a master-craftsman cabinet-maker turning out high-quality pieces which commanded high-prices in auction houses or wherever.

You get an order for a large number of pieces (good quality required and still at high-prices), but you know you can only make half of them in the time available.
You remember Tim, your ex-apprentice, now running his own business. The quality of his work is as good as yours, maybe even better on a good day. You give him a ring and ask if he would like to do the other half of the order. He's just had a cancellation, and is pleased for the extra work. You can now take the full order, help out a friend, satisfy the customer. Win-win-win I would have thought?
 
Masquerade said:
*cough* something rhyming with "trollocks".

Let's say a bank guaranteed you 100% return on your deposits, are you going to say: "no thanks, i'd rather go to the stock market and make 20% because i'll get more pleasure and satisfaction out of it". Feel free to substitute in your own numbers if you're some mega-star trader making hundreds if not thousands of % on your capital. I'd bet good money dante and those who claim to share your sentiment would bite the bank's hand off.
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With all due respect your argument is presuming that everyone chases the highest return on their capital. While this might be true for a lot of people and is, infact, the reason markets move in the way they do, it is not true of everyone, in every aspect of life. Many people balance profit with personal satisfaction.

If I made 20% a year trading and I could make 100% guaranteed investing in housing then I would probably move into housing. But as stupid as it may seem, if I could make 20% a year trading against sitting on my a*rse and giving my funds to someone else to trade to make me 100% a year guaranteed, I would choose to accept the lower amount. It's a personal opinion and you are free to think I'm full of sh*t but it's the way it is.

The decision is not based on the return it is based on the way the return is made.
 
tar said:
Trading is a career for me and i want to be a professional at it , it is not about 100% or 20% return ....
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It's about making money.

I think you guys are really pulling my leg, it's too nice a day to get pulled a prank on.
 
montmorencyt2w said:
Let's say you were a master-craftsman cabinet-maker turning out high-quality pieces which commanded high-prices in auction houses or wherever.

You get an order for a large number of pieces (good quality required and still at high-prices), but you know you can only make half of them in the time available.
You remember Tim, your ex-apprentice, now running his own business. The quality of his work is as good as yours, maybe even better on a good day. You give him a ring and ask if he would like to do the other half of the order. He's just had a cancellation, and is pleased for the extra work. You can now take the full order, help out a friend, satisfy the customer. Win-win-win I would have thought?
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Yes it is a win-win. But there are an infinite number of filters that might affect the decision making process. Your one makes perfect sense and under that condition I may possibly accept it. But that is not how I interpreted the question.

I took it to mean - I stop trading and give all my money to someone else to trade for me that can make a GUARANTEED HIGHER RETURN than me.

I just wouldn't do it. Absolutely 100% no way! Anyway, what I would personally do makes no difference.
 
elitejets said:
Given that Arabianights actually named the advisor I'm a little stumped as to why you feel the need to post this.
How very clever of you, well done.
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Touched a nerve have I, I've re-looked at the preceding posts on this thread, I cannot see where Arabian named the T2W advisor........Seems you feel the need to be sarcastic in your response..... then yes I am clever, to have the intelligence, not to be so foolish to be duped or conned into giving my hard earned money to somebody "met" in an internet chat room, so if I choose to be a little smug, then I'll gloat in it, if you choose to be arrogant and sarcastic in your posts to somebodys elses's opinion or views, then I will give as much back.
 
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Dinos said:
Touched a nerve have I, I've re-looked at the preceding posts on this thread, I cannot see where Arabian have named the T2W advisor........Seems you feel the need to be sarcastic in your response..... then yes I am clever, to have the intelligence, not to be so foolish to be duped or conned into giving my hard earned money to somebody "met" in an internet chat room, so if I choose to be a little smug, then I'll gloat in it, if you choose to be arrogant and sarcastic in your posts to somebodys elses's opinion or views, then I will give as much back.
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More like you felt the need to try to come across as billy big balls spouting off for no reason on a subject you know sweet fa about (either wasp or trading in general)
 
Dinos said:
Touched a nerve have I, I've re-looked at the preceding posts on this thread, I cannot see where Arabian named the T2W advisor........Seems you feel the need to be sarcastic in your response..... then yes I am clever, to have the intelligence, not to be so foolish to be duped or conned into giving my hard earned money to somebody "met" in an internet chat room, so if I choose to be a little smug, then I'll gloat in it, if you choose to be arrogant and sarcastic in your posts to somebodys elses's opinion or views, then I will give as much back.
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My apologies, Arabian posted it in another thread.

Most of us have admitted how stupid we were in this scheme but in the big picture for me it's a 250quid loss, it's not even a bad day trading. My biggest loss was the time I wasted on it. Not many from the pool posted about what happened, but I did because I thought someone could learn from my mistake.
We don't need clever clogs coming along and saying how they would never have done that. I should have kept quiet like the rest of the pool.
 
elitejets said:
My apologies, Arabian posted it in another thread.

Most of us have admitted how stupid we were in this scheme but in the big picture for me it's a 250quid loss, it's not even a bad day trading. My biggest loss was the time I wasted on it. Not many from the pool posted about what happened, but I did because I thought someone could learn from my mistake.
We don't need clever clogs coming along and saying how they would never have done that. I should have kept quiet like the rest of the pool.
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No problem, wasn't trying to stir things up, just surprised, all under the bridge now?, cheers
 
sharky1 said:
More like you felt the need to try to come across as billy big balls spouting off for no reason on a subject you know sweet fa about (either wasp or trading in general)
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Billy Bigs balls.... what the hell are you on about....

Spouting off..... no, just my opinion....

know sweet FA about wasp or trading..... hmmmm, so far off the mark

Notice, you have made nine posts, fantastic contribution to the site.
 
MrGecko said:
My views / statement of facts, in no particular order:

* The majority of people discussing what went on weren't involved

* Before most people comment, they think "well, what would a trader say?" [this is not directed at any individual in particular, but read between the lines]

* Of those who are involved, some trade for firms, some for themselves, some part time and some are learning the ropes.

* I was one of the original dirty dozen [this is not a name we have collectively given ourselves, but I think it should be considered]

* looking back, I see clear evidence of i) hubris, ii) brinkmanship, iii) greed and iv) gullibility / lack of judgement, on both sides of the equation. I'm a young, sharp guy with alot going for me. I've learnt my lesson, I can handle it.

* I do not use the opportunity cost of not trading the cash as a yardstick when making each and every financial decision. I'm sure M&S make good white shirts, but if I want a good white shirt I go to Pink's - I don't think "but if I go to M&S I can trade the money I save!!" Seriously, ffs, the depreciation on my socks is enough as it is!

* 250 quid doesn't go very far in the futures market. It goes further on a long boozy lunch with family/friends, which is probably what I should have done instead.

* I wish justice / help / forgiveness to be dealt to you-know-who in the appropriate proportions - and I would prefer someone with the knowledge and necesary experience to decide how these should be split, not the average T2W'er.

The rest I will leave to the chattering classes.
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I'm a young, sharp guy with alot going for me. I've learnt my lesson, I can handle it

Good man,you'll do ok with that attitude ..take that from an 'old' man who's met more chancers than you can believe ..

Thought Chris was an amiable enough chap ...but, for anyone really listening with an experienced ear to his chatter he made multiple goofs that put him out of bounds for anything more than banter. I particularly enjoyed the bullshti about helping his sister trade etc. Wouldn't presume to know if he started with malicious intent ,or simply ended up badly as a result of his trading limitations. Pretty academic though to anyone putting their money in and losing it,but this is the experience that no one really get's without paying something for it at some point.
 
Dinos said:
Billy Bigs balls.... what the hell are you on about....

Spouting off..... no, just my opinion....

know sweet FA about wasp or trading..... hmmmm, so far off the mark

Notice, you have made nine posts, fantastic contribution to the site.
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Dinos, I think Sharky1 might be someone who previously posted more than 9 posts under another user name... Maybe someone who has knowledge of this subject... Maybe someone who was banned... ;)
 
Haven't seen you around in a while mate. Howes the trading going?
 
megamuel said:
Dinos, I think Sharky1 might be someone who previously posted more than 9 posts under another user name... Maybe someone who has knowledge of this subject... Maybe someone who was banned... ;)
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Aha, OK, cheers
 
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