1 Point Spread Betting Companies Are The Most Profitable...

[TheBuyerAndSeller]

I'll then lose 10 to 15 Points x my £ per point...

...those are my stops...

...and yes it does happen but where I would have made 20 to 30 Points on a previous day, giving something back is okay. Plus I've learned to accept my losses, otherwise I wouldn't be in this business.

Beforehand, I make a ton of calculations and the higher my £ per point, the less risks I take. e.g. If I am trading at £5.00 per point, that would need to be 0.20% of my balance.

£50.00 per point is high but I know people who are feeling faint at the thought of trading at £10 per point.

I deal in a business where one product cost £5,000.00, that's the going rate, I guess I've just got used to those sums of money. Our targets over here (in my business) are to achieve £10K of business a day. I've simply transferred this concept into my trading...

What is really high and what is really low?

How high is high?

How low is low?

It's just the way I think, maybe too high?!?!

Thanks

 

[KillPhil08]

What's been the most losing trades in a row for you?

 

[TheBuyerAndSeller]

My rule is that if I have 3 losses in a row, I'll stop for the day but most often I find if I have one loss (of 10 Points), I tend to make it back +10, therefore ending up with my target.

Some days I just don't feel up to trading and some days the charts look so messy, some days I just don't have the opportunity to trad, and some days I just can't see an entry...

...those days feel like losing days (to me) because I did not hit my target.

Since I am in sales and always aim for targets, I tend to adopt the same mental attitude to my trading - always aiming for a target.

Thanks

What's been the most losing trades in a row for you?

 

[grimesd]

My rule is that if I have 3 losses in a row, I'll stop for the day but most often I find if I have one loss (of 10 Points), I tend to make it back +10, therefore ending up with my target.

Some days I just don't feel up to trading and some days the charts look so messy, some days I just don't have the opportunity to trad, and some days I just can't see an entry...

...those days feel like losing days (to me) because I did not hit my target.

Since I am in sales and always aim for targets, I tend to adopt the same mental attitude to my trading - always aiming for a target.

Thanks

This sounds very similar to my strategy, but I dont bother with the '3 losses in a row' business and I also have fixed targets and stop losses. The other difference is that I don't lock in any profit until I've reached 50% of target (to prevent being stopped out too soon) and I use SMAs from entry signals.

If you choose the correct instruments and set appropriate stop/tagerts this can be a VERY profitable stategy.

 

[TheBuyerAndSeller]

That sounds good waiting until you've reached 50% of your target...

...I also use SMA's too, 3 of them!

Yes, as in being a profitable trading strategy, you're right, the only difficult thing about it at times is being 'Disciplined' enough to wait until the set-up is staring me in the face but I do wait for it because it always (or should I say often) pays off in winning trades.

This sounds very similar to my strategy, but I dont bother with the '3 losses in a row' business and I also have fixed targets and stop losses. The other difference is that I don't lock in any profit until I've reached 50% of target (to prevent being stopped out too soon) and I use SMAs from entry signals.

If you choose the correct instruments and set appropriate stop/tagerts this can be a VERY profitable stategy.

 

[grimesd]

That sounds good waiting until you've reached 50% of your target...

...I also use SMA's too, 3 of them!

Yes, as in being a profitable trading strategy, you're right, the only difficult thing about it at times is being 'Disciplined' enough to wait until the set-up is staring me in the face but I do wait for it because it always (or should I say often) pays off in winning trades.

Yes it took me about 6 months to really sort out the 'discipline' thing. What timeframe do you trade? I base mine on 5min charts, but I use hourly charts for comfirmation.

 

[TheBuyerAndSeller]

I base mine on the 1 & 3 minute charts and I look at the higher time-frames for overall direction...

...I even use fundamentals such as the buying vs the selling (on the FTSE 100 Index only). This all helps with my decision making.

Thanks

Yes it took me about 6 months to really sort out the 'discipline' thing. What timeframe do you trade? I base mine on 5min charts, but I use hourly charts for comfirmation.

 

[Phil Mibbutz]

The basic theory might be all right(ish), but I'd be surprised if you get away with this using SB, even if it's possible to set stops so close?

 

[TheBuyerAndSeller]

You're so right Phil, those 10 Point stops can be a bit of a pain at times...

...on the whole, I usually wait until there is movement in the market I'm looking at and the same movement on the markets that tend to twin it.

That's what gives me the chance to lock in my one point and that's why I set that tight stop. Based on what I can see i.e. movement, I place that trade, if there is no movement or excitement, I do nothing.

For instance as of now, the markets look really unsure of itself and that makes me unsure of making a trade...

...with this thought in mind and with this lack of movement/volatility in the markets, I'm sitting on the sidelines and watching the world go by.

Thanks

The basic theory might be all right(ish), but I'd be surprised if you get away with this using SB, even if it's possible to set stops so close?

 

[Phil Mibbutz]

OK, so you mean you move your stop to lock in that 1pt when/if you're +11?

 

[TheBuyerAndSeller]

Absolutely!

But I also lock in that 1 Point when I'm 3 Points in favour, only because in the past when I had seen something like a 3 to 5 Point profit, told myself:

"That's Not Enough!"

...to find the market moves against me, never to return...

...and that's when a found myself, beating myself up for not taking the 3 to 5 Point profit.

Since using the system of locking in a 1 Point profit, no matter what, I combined it with only making a trade if I could 'see' the market moving in one particular direction, based on my trading rules.

Also, locking in the 1 Point system (as we could call it) is no different to going for a stroll and seeing a penny just lying there on the floor when there's nobody else around.

What do we usually do?

Well, I would pick it up!

If I saw another penny in another area and perhaps on another day under the same circumstances, I would pick that up too!

If this finding of mere pennies went on for 3 days straight, I would most likely start telling all of my family and friends about this near miracle of finding 3p in 3 days...

...do you get what I mean?

If we could feel good about finding a penny, how much better ought we to feel if we could make one Point at £1, £2, £3, £4, £5 or any £ per point we choose to trade x 1?

That's why I trade in this fashion.

Thanks

OK, so you mean you move your stop to lock in that 1pt when/if you're +11?

 

[Hoggums]

Absolutely!

But I also lock in that 1 Point when I'm 3 Points in favour, only because in the past when I had seen something like a 3 to 5 Point profit, told myself:

"That's Not Enough!"

...to find the market moves against me, never to return...

...and that's when a found myself, beating myself up for not taking the 3 to 5 Point profit.

Since using the system of locking in a 1 Point profit, no matter what, I combined it with only making a trade if I could 'see' the market moving in one particular direction, based on my trading rules.

Also, locking in the 1 Point system (as we could call it) is no different to going for a stroll and seeing a penny just lying there on the floor when there's nobody else around.

What do we usually do?

Well, I would pick it up!

If I saw another penny in another area and perhaps on another day under the same circumstances, I would pick that up too!

If this finding of mere pennies went on for 3 days straight, I would most likely start telling all of my family and friends about this near miracle of finding 3p in 3 days...

...do you get what I mean?

If we could feel good about finding a penny, how much better ought we to feel if we could make one Point at £1, £2, £3, £4, £5 or any £ per point we choose to trade x 1?

That's why I trade in this fashion.

Thanks

Now I know you are talking theoretically because what you say is impossible.

When you start trading a real account please come back and tell us how much money you've lost.

No SB firm will let you put a stop 2 points away. FACT.

What you are doing is picking up pennies in front of a steam roller.

Newbies - don't be fooled by this nonsense - this is not a tradable strategy.

 

[Phil Mibbutz]

I'm with you on the idea of going for consistent small profits instead of chasing big winners. Not sure about CS now because I gave up on them years ago, but with most SBs you can't set a stop only 2pt away, and even if you could you'll be labelled as a scalper and they'll do their best to nobble you.

 

[TheBuyerAndSeller]

Hi Hoggums, you're also right!

It seems everybody is right...

...but what I've found is CS lets me do exactly this on the FTSE and the DAX. I tried it on the EURUSD and other markets but it would not work.

Yes, it was like trying to pick up pennies in front of a steam roller.

Check out CS (Capital Spreads), once you're 3 Points in profit, you can lock in that 1 Point...

...I hope it's not an error on their part because if it is, I'm not going to make any more money.

If you want, I got a few screenshots online showing money I've made re: 1 Point profits and more but I have had my hands slapped by LMQ by entering my url/blog (previously), so I'm not going to do that anymore.

What you'd have to do is fish around for it...

...as I'm new to T2W I have no other way or idea how to direct you to see what I mean.

Thanks

P.S. Yes, one man's meat is another man's poison.

Now I know you are talking theoretically because what you say is impossible.

When you start trading a real account please come back and tell us how much money you've lost.

No SB firm will let you put a stop 2 points away. FACT.

What you are doing is picking up pennies in front of a steam roller.

Newbies - don't be fooled by this nonsense - this is not a tradable strategy.

 

[TheBuyerAndSeller]

I'm stepping out on a limb here, I have not asked permission to add this link because it just takes up too much of my time but if I get kick off of this forum, so be it but here it is for you to look at:

The TenKei Trading Techniques!: Is It That You Like To Read The Word; 'Money'...

Now I'm waiting for LMQ to get on my case. I reckon that's it for me because I have a business to run over here...

...it was nice chatting with you folks or debating for want of a better word, I found it most stimulating.

Thanks

P.S. If I get the boot, remember I'm not blaming anybody, it's just the way it's meant to be.

Hi Hoggums, you're also right!

It seems everybody is right...

...but what I've found is CS lets me do exactly this on the FTSE and the DAX. I tried it on the EURUSD and other markets but it would not work.

Yes, it was like trying to pick up pennies in front of a steam roller.

Check out CS (Capital Spreads), once you're 3 Points in profit, you can lock in that 1 Point...

...I hope it's not an error on their part because if it is, I'm not going to make any more money.

If you want, I got a few screenshots online showing money I've made re: 1 Point profits and more but I have had my hands slapped by LMQ by entering my url/blog (previously), so I'm not going to do that anymore.

What you'd have to do is fish around for it...

...as I'm new to T2W I have no other way or idea how to direct you to see what I mean.

Thanks

P.S. Yes, one man's meat is another man's poison.

 

[TheBuyerAndSeller]

Hoggums,

I just realised something in your question, yes, once again, you are absolutely right:

"No SB company will allow you to put your 'Stop-Loss' 2 points away."

But what I was saying was:

"Once you are 3 Points in profit, CS allows you to put your stop in to lock in 1 Point."

That's the point I'm getting at: Where I see the opportunity to lock in a profit, I do because if I happen to get the direction of the market right, I'll be able to achieve my targets...

...but if I'm wrong, I'll either gain 1 Point after having locked in my 1 Point or I'll lose 10 to 15 Points if I never go into profit.

Thanks

P.S. On entering a trade, I always put my stops at 10 to 15 Points away...

Hi Hoggums, you're also right!

It seems everybody is right...

...but what I've found is CS lets me do exactly this on the FTSE and the DAX. I tried it on the EURUSD and other markets but it would not work.

Yes, it was like trying to pick up pennies in front of a steam roller.

Check out CS (Capital Spreads), once you're 3 Points in profit, you can lock in that 1 Point...

...I hope it's not an error on their part because if it is, I'm not going to make any more money.

If you want, I got a few screenshots online showing money I've made re: 1 Point profits and more but I have had my hands slapped by LMQ by entering my url/blog (previously), so I'm not going to do that anymore.

What you'd have to do is fish around for it...

...as I'm new to T2W I have no other way or idea how to direct you to see what I mean.

Thanks

P.S. Yes, one man's meat is another man's poison.