Recent content by toknees

I'd encourage you to factor 2 risk numbers in to your system. The first is, as mentioned, your stop - the point at which you are prepared to accept you're wrong. This is 'the cost' of the trade. When entered, you should consider it money spent until the trade is closed. The second is the 'black...

I would highly recommend that you avoid thinking about starting down a day trading route altogether. Without vast experience of the markets, you are pretty much doomed to failure from the outset. You may get a few wins, but you'll most likely follow the same path as most and blow your account on...

this morning at 8:15 for a 16:00 sale. worked just great. :)

Super-sensible. Your risk could not be more clearly defined. Bravo. In one sense, you already are by having your account set up like that. How I deal with it is by limiting my position size and leverage so that any disaster scenario can only eat a finite amount of my trading capital - an...

Hi Rich If you can consistently achieve the sorts of results you are posting, then yes, you could produce the returns you are looking for. The trouble is, I'm not convinced that you can. These are a few of the things in play in the broader market at the moment. 1) We are in a pretty strong...

Enjoyed reading this thread - it is filled with excitement, and a genuine desire to succeed through effort, which IMO is a big reason why most traders fail. They think it'll be easy money, and it's not. Taking the step to a small amount of real money is the right move. The lessons you will...

Ok here it is! Usual caveats - I will not be held responsible if this destroys your computer / raspberry pi etc! (it will not do that!) You need to install mysql and create the following:- USER='toknees' HOST='localhost' PASS='password' and you need to create a database called 'stsystem'...

Hazaa! I finally finished this thread! Thanks Mr. C for a very interesting and inspirational thread. I'm not sure I understand all the negative comments - I for one would not be interested in seeing your statements! It would show me your trading, but not mine! When I have time, I will be...

IMO, it could well be about to drop to new lows. Lots of folks seeing a 'floor', but no reason the down trend should stop. If support looks like it's failing, I might go short from 18.90ish.

The other thing to consider in your pros and cons is the obvious tax free element in the UK. If you run a relatively profitable system, the trading costs should end up less than the tax you'd be paying on your profits. The drawback is that you have to pay them whether you are up or down, where...

I spreadbet for longer term - most brokers offer a futures quote, say Mar '14 or Jun '14 for each stock with a wider spread. This will mean your roll-over fee isn't every night, but when you roll from one quarter into the next. I usually go for the contract that is at least 3 months away. This...

Well done for accepting your flaws - I too have made many mistakes along the way and fight a constant fight in my head. As soon as my delivers success I feel like I should quadruple my capital outlay, and if I have a bad week I always feel like I should pull the plug on the whole thing! I'm...

Hi ManBear What makes trading difficult? Emotions like greed and fear. You are right to look at it and think that it should be easy. It really should be. You choose a bunch of stocks you like the look, cut your losers and run your winners. But what happens when one of your stocks starts to lose...

Just wanted to gauge interest: As an eod trader who opens/closes at the open, I've developed a system for auto-downloading quotes from yahoo into a mysql database on a raspberry pi. It runs on open markets every 5 minutes and I retrieve the data into AmiBroker to do tech analysis on. It's a...

You're welcome - I've still got a lot to learn myself and it's great that we can all help each other! Keep up your research and development and keep asking questions and you'll do great.