Making £8k a month on the FTSE

mrptraderman are you going to post some sort of explanation of your strategy, or are you looking for help to develop it further with some sort of cash injection?
 
mrptraderman said:
Hi trendie
thanks for your comments yes the best way to describe it is smash and grab. often trades over in minutes. The ratio is not too far off 1:1. I believe it is best called scalping but i use a trailing element to maximise part of the trade if it goes a greater distance than the scalp. For instance i took an extra 40 points on tuesday by doing this
Click to expand...

If youre trading that much you should really look at futures instead of spreadbetting. I'd be willing to bet your trading costs will come down significantly.

With decent volume you could probably get down to about $3 commission per contract, spreads are almost neglible, .25 on the S&P. Just add up how much you pay in spreads and youll see the difference. I dont have direct experience of trading the FTSE but for the US indices I'd never even consider spreadbetting.
 
pboyles said:
With decent volume you could probably get down to about $3 commission per contract, spreads are almost neglible, .25 on the S&P. Just add up how much you pay in spreads and youll see the difference. I dont have direct experience of trading the FTSE but for the US indices I'd never even consider spreadbetting.
Click to expand...

With decent volume he could get to $1 round trip...
 
arabianights said:
With decent volume he could get to $1 round trip...
Click to expand...


With thouse returns he could buy a broker :)

month 1 2k into 4k
2 4K into 8K
3 8K into 16K
4 16k into 32K then 64 then 128 then 256 then 512 then 1,000,024 then 2,000,048 then at month 12 the account will be 4,000,096

Good work M8, how about I sell my house and give you the money, what return would I get if i gave you £1k after 12 months ?

Worth a punt ?
 
so do I have this right?
You started with £200 and now you make £8k a month.
what software/platform do you use?
Do you only use the FTSE?
What spreadbetting firm?
 
Hi all

didnt expect this sort of interest or response. Dont know where to start but here goes. First of all todays results 12 wins 8 losses 7 no trades with an overall result for the day of 66 points.It would have been much better but for two unlucky items . No1.what the hell happened at 1.30 i was 2 points away from another winning trade the direction was up and the ftse just plumeted down and took out my stop. No2, I was in a buy trade from the signal at 8.48 but the ftse flattened too quickly and my stop didnt hit until after the wonderful down signal at 9.10 so wasn't in a on a 40 pointer. Anyway its just the way it goes. So thats todays result. I will try to answer the other comments now and the rather surprising income comment.
I use ig or capital spreads and their graphs with a mixture of averages and directional trends. I have about 6 rules i have developed to take me into a trade or not. I dont use any special software. I only use the FTSE but am playing with using it on the DOW. It seems the more movement the better it works with the dow at double the ftse index it seems to work very well on the dow but have only tried it the last two days.
I have not in any way deceived or lied in anything i have said or data i have given. it is not for boasting or rubbing into people. I have found something and wanted to share what i was doing. It may be better to stop posting if people think this.
I would like to comment on the income side and clarify a number of things. I now do £10 a point but started with £1 a point and £200 bank. i found each 10 trading days i was more than doubling it. If you take the 20 points a day which i was averaging then at £1 a point thats £20 a day so in 10 days thats £200. So £200 became £400. I then went to £2 a day so keeping my percentages the same and was winning more than £40 a day most days. So you can see it was logical and mathematically obvious that the bank was increasing by 100% each 2 weeks. The person who said about £1M in x number of weeks is hyperthetically correct i suppose but i stopped at £10 a point. I am not a big risk taker but have disciplined myself to doing what was working even though on some occassions i did think of increasing it to make thousands a day. But this is still in test mode for me. Imagine having one bad day the day you decide to go for it big time. You could loose everything. My £8k a month simply came fro 400 points a month with a £20 per point bet which i believe is what the experienced traders do.
The next question was on futures i dont really know what this is as my trading has been limited to spread betting. I have heard of this but my way is simple i am comfortable with it so hadn't tried anything else. I realise i have made more than 400 points since monday which is £4k unbelievably but this is more than i normally make.
I dont yet know what im going to do with this but want to try it for a while. I must admit i am getting more winning trades than when i started as my data has highlighted some nice rules to apply. thats why you see quite a lot of no trades. So maybe thats why the points have increased. If people dont want me to post any more i will not but have had some very nice private messages on what im doing and asked me to keep them updated.
I see advertised top traders like Gohen? roxy trader, fx predictor etc that claim you can make hundreds of thousands of pounds if you use their system and they have data to prove it so it must be possible to make this kind of money. They claim much more than i have been making. I know i was nearly drawn into one of these.Anyway regards to you all.
 
The higher the stake per point the longer the execution I find also ;). You shouldn't really trade just before the news (at 1.30pm) :). That's probably what screwed you over.
 
mrptraderman said:
Hi all

didnt expect this sort of interest or response. Dont know where to start but here goes. First of all todays results 12 wins 8 losses 7 no trades with an overall result for the day of 66 points.It would have been much better but for two unlucky items . No1.what the hell happened at 1.30 i was 2 points away from another winning trade the direction was up and the ftse just plumeted down and took out my stop. No2, I was in a buy trade from the signal at 8.48 but the ftse flattened too quickly and my stop didnt hit until after the wonderful down signal at 9.10 so wasn't in a on a 40 pointer. Anyway its just the way it goes. So thats todays result. I will try to answer the other comments now and the rather surprising income comment.
I use ig or capital spreads and their graphs with a mixture of averages and directional trends. I have about 6 rules i have developed to take me into a trade or not. I dont use any special software. I only use the FTSE but am playing with using it on the DOW. It seems the more movement the better it works with the dow at double the ftse index it seems to work very well on the dow but have only tried it the last two days.
I have not in any way deceived or lied in anything i have said or data i have given. it is not for boasting or rubbing into people. I have found something and wanted to share what i was doing. It may be better to stop posting if people think this.
I would like to comment on the income side and clarify a number of things. I now do £10 a point but started with £1 a point and £200 bank. i found each 10 trading days i was more than doubling it. If you take the 20 points a day which i was averaging then at £1 a point thats £20 a day so in 10 days thats £200. So £200 became £400. I then went to £2 a day so keeping my percentages the same and was winning more than £40 a day most days. So you can see it was logical and mathematically obvious that the bank was increasing by 100% each 2 weeks. The person who said about £1M in x number of weeks is hyperthetically correct i suppose but i stopped at £10 a point. I am not a big risk taker but have disciplined myself to doing what was working even though on some occassions i did think of increasing it to make thousands a day. But this is still in test mode for me. Imagine having one bad day the day you decide to go for it big time. You could loose everything. My £8k a month simply came fro 400 points a month with a £20 per point bet which i believe is what the experienced traders do.
The next question was on futures i dont really know what this is as my trading has been limited to spread betting. I have heard of this but my way is simple i am comfortable with it so hadn't tried anything else. I realise i have made more than 400 points since monday which is £4k unbelievably but this is more than i normally make.
I dont yet know what im going to do with this but want to try it for a while. I must admit i am getting more winning trades than when i started as my data has highlighted some nice rules to apply. thats why you see quite a lot of no trades. So maybe thats why the points have increased. If people dont want me to post any more i will not but have had some very nice private messages on what im doing and asked me to keep them updated.
I see advertised top traders like Gohen? roxy trader, fx predictor etc that claim you can make hundreds of thousands of pounds if you use their system and they have data to prove it so it must be possible to make this kind of money. They claim much more than i have been making. I know i was nearly drawn into one of these.Anyway regards to you all.
Click to expand...


By any standards you are doing very well, my own system throws up 10 or 15 trades a day but I keep finding an excuse not to take them all so discipline is a problem for me. The problem you will have here is that some people are jealous of success and respond by questioning your honesty and motives.
 
hi mrptraderman,

1: Forex Factory (sorry, T2W, but couldnt find the T2W equivalent)
the list of major news items is a must-have; it helps you to avoid scalping into news. when you trade swing, news is less important. it might help your analysis if any bad days have been down to trading within 15-mins of a major economic news-event.

2: making a million/doubling up: dont get too vexed over these kinds of calcs. its just people having fun with you. it makes total sense to plateau at some level that keeps you under the radar. there are numerous threads here about SBs trying to sting you with delayed quotes/slwo execution/requotes.

3: we appreciate you arent deceiving, boasting or lying about anything. but. strictly speaking, you havent shared anything other than your results; certainly not the mechanism that got you those results.

you will be ribbed about your posts. thats the nature of T2W and its banter.
keep posting. I am still curious about your method; whether its trend-following, catching extrames and fading them; or something else.

wahtever it is, keep posting (might be worth giving some "robust" replies every now and then ;) ), and keep up your profitable method.
 
Thanks both for the advice i will take more notice of news items and check out these websites. I will also try to add a little more detail to the mechanics.The system is simple but very difficult to explain.
 
mrptraderman said:
Hi all

didnt expect this sort of interest or response. Dont know where to start but here goes. First of all todays results 12 wins 8 losses 7 no trades with an overall result for the day of 66 points.It would have been much better but for two unlucky items . No1.what the hell happened at 1.30 i was 2 points away from another winning trade the direction was up and the ftse just plumeted down and took out my stop. No2, I was in a buy trade from the signal at 8.48 but the ftse flattened too quickly and my stop didnt hit until after the wonderful down signal at 9.10 so wasn't in a on a 40 pointer. Anyway its just the way it goes. So thats todays result. I will try to answer the other comments now and the rather surprising income comment.
I use ig or capital spreads and their graphs with a mixture of averages and directional trends. I have about 6 rules i have developed to take me into a trade or not. I dont use any special software. I only use the FTSE but am playing with using it on the DOW. It seems the more movement the better it works with the dow at double the ftse index it seems to work very well on the dow but have only tried it the last two days.
I have not in any way deceived or lied in anything i have said or data i have given. it is not for boasting or rubbing into people. I have found something and wanted to share what i was doing. It may be better to stop posting if people think this.
I would like to comment on the income side and clarify a number of things. I now do £10 a point but started with £1 a point and £200 bank. i found each 10 trading days i was more than doubling it. If you take the 20 points a day which i was averaging then at £1 a point thats £20 a day so in 10 days thats £200. So £200 became £400. I then went to £2 a day so keeping my percentages the same and was winning more than £40 a day most days. So you can see it was logical and mathematically obvious that the bank was increasing by 100% each 2 weeks. The person who said about £1M in x number of weeks is hyperthetically correct i suppose but i stopped at £10 a point. I am not a big risk taker but have disciplined myself to doing what was working even though on some occassions i did think of increasing it to make thousands a day. But this is still in test mode for me. Imagine having one bad day the day you decide to go for it big time. You could loose everything. My £8k a month simply came fro 400 points a month with a £20 per point bet which i believe is what the experienced traders do.
The next question was on futures i dont really know what this is as my trading has been limited to spread betting. I have heard of this but my way is simple i am comfortable with it so hadn't tried anything else. I realise i have made more than 400 points since monday which is £4k unbelievably but this is more than i normally make.
I dont yet know what im going to do with this but want to try it for a while. I must admit i am getting more winning trades than when i started as my data has highlighted some nice rules to apply. thats why you see quite a lot of no trades. So maybe thats why the points have increased. If people dont want me to post any more i will not but have had some very nice private messages on what im doing and asked me to keep them updated.
I see advertised top traders like Gohen? roxy trader, fx predictor etc that claim you can make hundreds of thousands of pounds if you use their system and they have data to prove it so it must be possible to make this kind of money. They claim much more than i have been making. I know i was nearly drawn into one of these.Anyway regards to you all.
Click to expand...


if it works dont change anything you do stick rigidly to it. "take it whilst you can get it."
 
mrptraderman said:
Thanks both for the advice i will take more notice of news items and check out these websites. I will also try to add a little more detail to the mechanics.The system is simple but very difficult to explain.
Click to expand...

Would you mind posting a chart to show your entries/exits?
 
Hi ian
will do a list of entries exits for each of 12 winning trades today. dont have that data to hand but have each trade with times and signal and points won so will go back over chart to get but will take a bit of time so you may not get till tomorrow if thats ok.
 
Hi ian here it is
Time Buy/Sell Entry Exit
08.12 B 4256 4268
08.34 S 4260 4248
09.46 B 4204 4224
10.46 S 4222 4203
11.44 B 4203 4215
13.42 S 4209 4170
14.25 S 4184 4172
14.54 S 4162 4150
15.05 B 4160 4172
15.29 B 4182 4194
16.03 S 4187 4175
16.46 S 4180 4168

So now you have all the info hope this helps. You have all my trades, data and times to cross check with yours to see when i go for a trade.
 
thanks mrptraderman,
Do you look at price action to enter or do you enter when indicators signal an entry?
 
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