Brewski's Leverage Abuse

[brewski1984]

Genuinely can't see anything I like the look of, I'm back to work next week and I can't check the markets so I doubt I'll get an opportunity to do anything until the week after. Might have to give it a break until then, I've been getting chopped up an absolute treat so far this week!

 

[foroom lluzers]

Genuinely can't see anything I like the look of, I'm back to work next week and I can't check the markets so I doubt I'll get an opportunity to do anything until the week after. Might have to give it a break until then, I've been getting chopped up an absolute treat so far this week!

nothing on indices short?

 

[brewski1984]

I was thinking it but I've been so adamant that they are still a buy that I can't bring myself to go short

 

[EnlightenedJoe]

Real gamblers don't work.

 

[brewski1984]

Real gamblers don't work.

Funny enough, if I had enough money that I didn't have to work I would be trading and not gambling. I'm having to gamble in the hope of some big wins in order to get enough not to work.

 

[brewski1984]

Right in true gambling fashion, I've gone short DOW. This could be one of those days it tanks 700 points so you only live once let's get on it.

 

[EnlightenedJoe]

Funny enough, if I had enough money that I didn't have to work I would be trading and not gambling. I'm having to gamble in the hope of some big wins in order to get enough not to work.

Well, gambling is least best thing to do if you need money. You would be doing it with the wrong mental state. Just look at foroom, he gambles and gets himself into such a neurotic state.

Trading is best. You have plenty of chums here who claim to be able to trade. Just get some tips from them. Trading is slow for sure. But it's the only realistic way forward assuming you can make it to profitability.

 

[brewski1984]

Well, gambling is least best thing to do if you need money. You would be doing it with the wrong mental state. Just look at foroom, he gambles and gets himself into such a neurotic state.

Trading is best. You have plenty of chums here who claim to be able to trade. Just get some tips from them. Trading is slow for sure. But it's the only realistic way forward assuming you can make it to profitability.

It's hard because I don't have 100k/200k in order to make a living trading. I genuinely believe I could do it, if I wasn't being greedy I'd certainly be in a profit in this journal. I have some savings but I'd literally get a better return doing a couple hours overtime a week than I would get using it for trading.

My only option is to either give up or go high risk - high reward and hope to build a bit of capital I can work with.

 

[EnlightenedJoe]

It's hard because I don't have 100k/200k in order to make a living trading. I genuinely believe I could do it, if I wasn't being greedy I'd certainly be in a profit in this journal. I have some savings but I'd literally get a better return doing a couple hours overtime a week than I would get using it for trading.

My only option is to either give up or go high risk - high reward and hope to build a bit of capital I can work with.

Well, my personal view is that the market doesn't yield easily. If your experience is different, then you are a lucky man. But the results doesn't look encouraging so far in this thread.

We all have to start from somewhere. If you can't make all your money from trading, then at least make some. The bits add up. Before you know it, you would have a reasonable size. Throwing money away like you do doesn't really help in that goal.

 

[brewski1984]

To be fair it has only been a couple weeks and it's been very choppy this week which doesn't work well for this system, that DAX trade being a perfect example. I have been doing this exact same thing for over a year with this CMC account and it's still showing me a profit. Consider I use guaranteed stops and have probably paid 1k premiums for those and you have to admit I've done extremely well to beat those costs. It's just my luck that as soon as I start posting trades it all starts going wrong!

 

[EnlightenedJoe]

Sorry man. You beginning to sound like foroom V2.0. He also assigned the blame for his losses to this or that. What could have been. What should have been. The point is the valuable money was lost. That's the reality.

Just because you are 1 to 2k up, doesn't mean you are doing good. You have lost time and life. Since these things are not yet a concern for you, then you still have time to correct yourself.

To be blunt, the bucketshops are not going to give you their money willingly. They worked hard for the stuff. So to expect them to hand you a stack of cash is unrealistic. If you want it, you will just have to work for it, in a job, or in developing something that works reliably in trading.

 

[foroom lluzers]

To be fair it has only been a couple weeks and it's been very choppy this week which doesn't work well for this system, that DAX trade being a perfect example. I have been doing this exact same thing for over a year with this CMC account and it's still showing me a profit. Consider I use guaranteed stops and have probably paid 1k premiums for those and you have to admit I've done extremely well to beat those costs. It's just my luck that as soon as I start posting trades it all starts going wrong!

At least pick the right instruments and trade them , how they should be traded.Trying to pyramid Dax is really dumb , because it is too volatile to be pyramid trades.

 

[foroom lluzers]

The signal on Dax is sell sell sell , you want to buy!

No way you can pyramid , cause retraces are big.

 

[brewski1984]

Sorry man. You beginning to sound like foroom V2.0. He also assigned the blame for his losses to this or that. What could have been. What should have been. The point is the valuable money was lost. That's the reality.

Just because you are 1 to 2k up, doesn't mean you are doing good. You have lost time and life. Since these things are not yet a concern for you, then you still have time to correct yourself.

To be blunt, the bucketshops are not going to give you their money willingly. They worked hard for the stuff. So to expect them to hand you a stack of cash is unrealistic. If you want it, you will just have to work for it, in a job, or in developing something that works reliably in trading.

Showing a profit after a year is better than 99% of people.

I guess there really is a fine line between gambling and trading. I am gambling in the hope of getting enough money to trade. Yes, I see your point that all these small losses could amount to a decent capital but honestly, is the 1k I've lost even worth trading with? Is 10k even worth quitting my job to trade with? 50k?

I've put the work in over the years to develop a system and a plan etc but there literally is no point me trading it unless I have some serious money to start with.

 

[piphoe]

jobsless claims in 1/2 hour...might make that DOW a little jiggly

 

[brewski1984]

The signal on Dax is sell sell sell , you want to buy!

No way you can pyramid , cause retraces are big.

With all due respect, everyone trades differently. Look at my charts then look at yours, I have literally no idea what I'm looking at on your charts. Doesn't mean it's wrong, just different.

You can easily pyramid DAX, you might need a wider stop than usd/jpy but you can still do it.

Anyway, you've been buying all the time I have been.

 

[brewski1984]

jobsless claims in 1/2 hour...might make that DOW a little jiggly

Yeah man, they've widened the minimum guaranteed stop distance to 150 points. Criminal.

 

[EnlightenedJoe]

jobsless claims in 1/2 hour...might make that DOW a little jiggly

Quite a few here are jobless except brewski. We ain't scared.

 

[Lee Shepherd]

Dear thread and all those watching,

The real problem with gambling and winning (any amount) is that it encourages that person to continue doing the same thing. Gamblers reward. If a gambler makes money (or at least feels they do) then why would they change to do something else. The clear answer is they wouldn't - they would continue to gamble until they blow their wod. If your mind tells you i'll quit when I make it big, forget it - you are lying to yourself. There is no such thing as big, only from a perspective level.

ie, Someone who gambles with a grand and lands 100k, will then be on the mindset that a few extra grand down is chicken feed and will automatically 'up the stakes'.

This thread is a great example (provided by my dear friend Brewski) of the clear difference between gambling and trading/investing.

Regards to all,

Lee

 

[EnlightenedJoe]

Showing a profit after a year is better than 99% of people.

I guess there really is a fine line between gambling and trading. I am gambling in the hope of getting enough money to trade. Yes, I see your point that all these small losses could amount to a decent capital but honestly, is the 1k I've lost even worth trading with? Is 10k even worth quitting my job to trade with? 50k?

I've put the work in over the years to develop a system and a plan etc but there literally is no point me trading it unless I have some serious money to start with.

If beating the loosers is all you aspired to, then I guess you are doing well. But that doesn't help you.

If there is that fine a line between gambling and trading, I'd call it gambling.

If you can make 100% a year, 50k would make a quite a reasonable start that will allow you to build for more. Obviously you would have to go economy class for your life in the mean time.