3 Questions For You Lot!

[fibonelli]

Average as in % wise?

If you had £1000, what % would you expect to average in a month/year?

Hi Pudha,

As you can see above, it is difficult to estimate what return you could make. Trading is not an easy road to riches otherwise everyone would be doing it.

Furthermore, you need to consider whether you'll be trading on margin eg 50:1.

The key determinants of profitability are (as far I've understood to date) the two concepts of "expectancy" and of "money management". You need to understand these two concepts very clearly and incorporate these two concepts in your trading plan(s), otherwise it is highly likely you'll not be successful.

Please take on board on the good advice you've been given on this thread.

Finally, my own opinion is that £1,000 is not enough.

Good luck

Fibonelli

 

[pudha]

Thanks for all the info guys.

I dont regard trading as a short term, get rich scheme. I know that it'll be an uphill struggle till I get the hang of it. I'm just unsure what type of trader I could be. I don't want to devote my whole day to trading as I have other priorities too. But I do want to give it my all, as in, know as much as I can.

Alot of people here are saying £1000 is not enough. Now what is 'enough' then?? What is a good amount to start with? and why??

 

[new_trader]

Thanks for all the info guys.

I dont regard trading as a short term, get rich scheme. I know that it'll be an uphill struggle till I get the hang of it. I'm just unsure what type of trader I could be. I don't want to devote my whole day to trading as I have other priorities too. But I do want to give it my all, as in, know as much as I can.

Alot of people here are saying £1000 is not enough. Now what is 'enough' then?? What is a good amount to start with? and why??

pudha, You have enough information to get started. Stop wasting your time here and open a spread betting account where you can really start learning.

 

[new_trader]

Average? That depends on the skill of the trader.

Yes. I don't know how other traders feel but I find the question about money impertinent. It's almost like walking into a room full of Doctors and Surgeons and saying, "I'm thinking of becoming a Doctor, how much money can I make?"

 

[pudha]

Stop wasting your time here and open a spread betting account where you can really start learning.

New_Trader, Would you buy a house without doing your research first? Would you do anything before thinkng about it?

The only person wasting time here is you by adding stupid, irrelevant comments to this thread. If you cannot answer my questions then dont, simple! It really is that simple. Just don't tap your keyboard! Read the thread, leave without adding a comment! SIMPLE!

KISS, I'm sure you know this acronym quite well.

Now, if my questions have offended anyone else in this thread then I apologise. I'm very new to this and I don't want to jump into anything head first and be part of that 95% of traders that fail.

 

[fibonelli]

pudha, You have enough information to get started. Stop wasting your time here and open a spread betting account where you can really start learning.

This is unbelievably poor advice imvho

Pudha, Learn to trade by opening at least one demo account and don't risk a penny. Also have you entered in the T2W FX comp?

 

[Splitlink]

You are a liitle bit rude, too, man.

£1000 is not enough for a broker account. I had to deposit $5000 with IB to open an account. A minimum index trade with IB is 10 per point with the currency of the market you are dealing in. If you trade with a minimum amount and you lose, IB will stop you very fast and will not let you trade again until you have fed your account again.

If you can't afford that, open an account with a Financial bookmaker. I know that with Fins, £ 100 is enough and will get you Footsie trading for 50p and a margin requirement of £50.

The rest is up to you. It's no good asking questions like "What is the average that a trader can make?" Neither is it sensible to blame the SB company. I have found that if the index goes up after I have bought, I make money. If it doesn't, I lose. The trader makes his choices.

Split

 

[new_trader]

New_Trader, Would you buy a house without doing your research first? Would you do anything before thinkng about it?

The only person wasting time here is you by adding stupid, irrelevant comments to this thread. If you cannot answer my questions then dont, simple! It really is that simple. Just don't tap your keyboard! Read the thread, leave without adding a comment! SIMPLE!

KISS, I'm sure you know this acronym quite well.

Now, if my questions have offended anyone else in this thread then I apologise. I'm very new to this and I don't want to jump into anything head first and be part of that 95% of traders that fail.

Fine. I really don't care. I'm starting to understand more and more why Socrates left this forum. If you can't see why some of your questions are irrelevant then you will be a part of the 95% that fail. The market won't be as kind with you as I have been. Do you honestly think asking how much a trader can make is relevant? That is like a soldier on his/her way to the war in Iraq asking "How many bullets will I need to stay alive?"

 

[new_trader]

This is unbelievably poor advice imvho

Pudha, Learn to trade by opening at least one demo account and don't risk a penny. Also have you entered in the T2W FX comp?

Really? What does that teach you about keeping emotions in check etc..etc. You can open any account and paper trade without risking a penny. I opened my spread betting account well over 2 years ago and I've never had more than £1000 in it, ever.

 

[pudha]

Dude whats the deal with u man??

Give up.

Go for a run or something. Sleep for a couple days.

Anything!!

 

[new_trader]

Dude whats the deal with u man??

Give up.

Go for a run or something. Sleep for a couple days.

Anything!!

Sure dude. I will give up because it's clear you can't tell the difference between book learned advice and experience.

P.S: 95% of traders don't fail simply because they don't ask enough questions before they start trading. This thread has everything you need to start. EVERYTHING. But you keep asking pointless questions. The Internet is full of useful information that addresses your issues. IMHO you turn to a forum when you have exhausted all other avenues of research. It's clear to me that although you claim to be interested in trading you have done little or none of your own research.

 

[pudha]

IMHO you turn to a forum when you have exhausted all other avenues of research

Mate that might be your reasons to join a forum, not mine.

I've joined because I want to learn. I want to talk to people that actually trade and not seem like I'm doing this alone. Its all about guidance in these early stages man.

I'm not like you that jumps into things. I want knowledge. Knowledge is gained through experience. In a way you are right that I should get straight into it but I want to know what mistakes others have made too so its one less mistake for me.

Trading isn't childs play. You can get completely wiped out in an instant. So me asking questions might be irrelevant to you but believe, these questions answer alot for me.

95% of traders don't fail simply because they don't ask enough questions before they start trading

Wat are you on??!

 

[new_trader]

Mate that might be your reasons to join a forum, not mine.

I've joined because I want to learn. I want to talk to people that actually trade and not seem like I'm doing this alone. Its all about guidance in these early stages man.

I'm not like you that jumps into things. I want knowledge. Knowledge is gained through experience. In a way you are right that I should get straight into it but I want to know what mistakes others have made too so its one less mistake for me.

Trading isn't childs play. You can get completely wiped out in an instant. So me asking questions might be irrelevant to you but believe, these questions answer alot for me.

Wat are you on??!

Ok. Let me explain it to you like this. There aren't that many mistakes you can make in trading. It's just that the few that plague almost every trader are very difficult to overcome, namely discipline and controlling your emotions. You can read every trading book written, lay down the best trading plan possible and read every thread in a trading forum before you "jump right in", but you will not fully appreciate what it all means until you start trading for real. That is when you really start to learn about trading. Now, as I said, you have the tools required to start now you need to acquire what nobody can give you and that is experience.

If you reply with another "Dude what are you on" type comment then it will only highlight how truly ignorant you are and you are destined to fail, without question.

 

[firewalker99]

Controlling your emotions

Let's keep it cool guys. Trading is indeed about controlling your emotions but by the way you are talking to eachother none of you seem to be capable of that.

And new_trader, I think you have a good point there by stating:
That is like a soldier on his/her way to the war in Iraq asking "How many bullets will I need to stay alive?"

... but on the other hand I think we shouldn't discourage pudha for his attempts to learn and to ask questions. I disagree that a forum should be the last place to look for trading advice after you've exhausted all other means. There is loads of crap on the internet, but the things I've learned on this forum have made me progress much more than before.

Just my 2c. I hope you both do well or will do well in the future!

 

[pudha]

There's no beef here. It's all love!

New_trader, your last post has to be the best advice in this thread. Now if you had said that from the beginning we would've avoided the unnecessary bitch slaps!

Anyway, thanks for the advice.

I am goin to open a spread betting account very soon.