Brewski's Leverage Abuse

counter_violent said:
There have been some price n time signals in related instruments to the downside last few days which I can't ignore. So i'll be playing short overall, probably nas, but with hedge longs in Dow, S+P, if required.


http://www.zerohedge.com/news/2017-11-04/its-vicious-cycle-goldman-abandons-equity-options-market-

Hmm...whenever volatility drops to these levels, some kind of crash happens.
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Well im still here, waiting patiently with my coat on for the taxi to collect me :whistling

Read some interesting points in another article regarding Gold calls maybe being a better alternative to other more obvious opportunities (should they play out of course). Time will tell for sure!
 
Well done Brewski on the holding of your Dow trade. Especially since posting and putting up with all and sundry calling ‘the top’ or a ‘reversal’ or a ‘crash’ because of an article or graph or because some bloke down the pub said.

Trading is difficult enough and one’s own demons always seem to get in the way for most, this can be greatly exacerbated by hearing others conflicting reviews and opinions and is hence why so many fail in this career.

Most people would rather be with the crowd and wrong than stand alone and be right.

I remember vividly the Dow back in 2007 when people were actively calling the top. Definitely will not hit 9k, it will crash from here, 10k defo, it’s a round number and reports say its overdue a crash. 11k was oversold and shorts should be in around here, 12k came and still everyone was calling the top. 13k was an unlucky number and the charts were screaming a crash, 14k came then it finally crashed at 14.2k.

Everyone then said, ‘told you’. But so what, what is ‘being right’ and to be honest, who gives a f**k.

As traders – professional ones that is – we simply don’t give a f**k who’s right and who’s wrong, that even extends to our own being. Traders simply do not care. Its about how much money you’ve made and that’s it. How much money have you made?

Since Brewski has kept to his ‘do or die’ attitude, he has been wrong a few times, in fact if you count them, he’s been wrong more than he’s been right….. But, when he’s right, he makes more money than all the times he’s wrong and loses money. Even overnight I count he’s made an extra £1k. And that’s in the face of more people calling a crash or retrace. How many of you reading this post have woken up to find £1k extra sitting in their account – or is it that you have to work all week at 8 hours solid each day to earn this money?

I’ll finish this post as it started – well done Brewski.

Have a good day trading all.

Lee
 
Yes, I doff my cap to you Brewski, really strong trading. Not an approach for the faint hearted though.

However much I admire it I could not have done it - ever - since I would have melted into a nervous wreck ages ago. One thing I have learned over the years, for me anyway, is that you have to be comfortable in your own body in the way you trade. Stray outside those boundaries and you (me) come a cropper.

Several times, for example, I have tried to ramp up position size and it’s always cost me dear. I simply can’t take that sort of pressure which is why I could never have traded for a living.

So, yes, a terrific Brewski trade but one that I could never emulate. I’d have to be taking chunks on the way. A lot less profit but I’m comfortable with that.
 
Thanks for the comments everyone, I will reply to some in more detail when I get a bit of time.

The trade is still ticking over nicely making new highs all the time, I'm still deciding on where to move my stop up to but there's no rush to do anything yet. I wonder if the rinse and repeat pattern of tanking at the open then making new highs in the evening is on the cards for today (y)
 
Stop moved up 50 points locking in around £6750, tanking right now as I thought just hope I'm right and it ramps back up later(y)
 

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barjon said:
Yes, I doff my cap to you Brewski, really strong trading. Not an approach for the faint hearted though.

However much I admire it I could not have done it - ever - since I would have melted into a nervous wreck ages ago. One thing I have learned over the years, for me anyway, is that you have to be comfortable in your own body in the way you trade. Stray outside those boundaries and you (me) come a cropper.

Several times, for example, I have tried to ramp up position size and it’s always cost me dear. I simply can’t take that sort of pressure which is why I could never have traded for a living.

So, yes, a terrific Brewski trade but one that I could never emulate. I’d have to be taking chunks on the way. A lot less profit but I’m comfortable with that.
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True , however 10K is nothing , remember Doomberg managed to profit 100K pounds on the Dow in a very short time .

http://www.trade2win.com/boards/indices/188190-dow-jones-17000-time-short-big-10.html
 
Yes, take the £10K now, wait for the crash, buy at the bottom, easy money :LOL:

No, scratch that, put it in Bitcoin, it's going to the moon. Just do it before regulation and futures.
 
barjon said:
Yes, I doff my cap to you Brewski, really strong trading. Not an approach for the faint hearted though.

However much I admire it I could not have done it - ever - since I would have melted into a nervous wreck ages ago. One thing I have learned over the years, for me anyway, is that you have to be comfortable in your own body in the way you trade. Stray outside those boundaries and you (me) come a cropper.

Several times, for example, I have tried to ramp up position size and it’s always cost me dear. I simply can’t take that sort of pressure which is why I could never have traded for a living.

So, yes, a terrific Brewski trade but one that I could never emulate. I’d have to be taking chunks on the way. A lot less profit but I’m comfortable with that.
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It's hard to disassociate yourself from the monetary value of the trade when everyday I sit through swings of £1500 or more (a months wages to me!) but if you look at the daily chart right now, you would say from the time I entered it's basically gone straight up and it looks like the easiest trade in the world. Of course, you only know this afterwards but I know that a 100-200 point swing (and maybe even more) is normal market behaviour regardless of the actual monetary value.

The hardest part of doing these trades is that it doesn't matter where I get taken out I know I will be disappointed that I could have had more. I guarantee there will be a few people saying "I told you that you should have closed today you're an idiot you gave back 2k".
 

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brewski1984 said:
It's hard to disassociate yourself from the monetary value of the trade when everyday I sit through swings of £1500 or more (a months wages to me!) but if you look at the daily chart right now, you would say from the time I entered it's basically gone straight up and it looks like the easiest trade in the world. Of course, you only know this afterwards but I know that a 100-200 point swing (and maybe even more) is normal market behaviour regardless of the actual monetary value.

...
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Take out your original 'stake' then tell yourself your playing with free money, its a way of silencing the internal demons. Either that or spend 10,000 hours listening to Eckhart Tolle.
 
postman said:
Take out your original 'stake' then tell yourself your playing with free money, its a way of silencing the internal demons. Either that or spend 10,000 hours listening to Eckhart Tolle.
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There's no such thing as free money though, you probably don't realise the amount of actual effort I've put in to this trade. Yeah it looks like I pressed a couple buttons a few weeks ago then put my feet up but mentally this game is a killer.

Plus, I'm leaving my original stake in as once this trade is done I'm cashing out all the profits and going on a shopping spree then using the original stake to do it again (y)
 
Are you eyeing up any other set ups on other instruments or just concentrating on the biggy?
 
brewski1984 said:
There's no such thing as free money though, you probably don't realise the amount of actual effort I've put in to this trade. Yeah it looks like I pressed a couple buttons a few weeks ago then put my feet up but mentally this game is a killer.



Plus, I'm leaving my original stake in as once this trade is done I'm cashing out all the profits and going on a shopping spree then using the original stake to do it again (y)
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Shame, that will put the £1M prize back a few years.
 
brewski1984 said:
... but mentally this game is a killer.
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As far as I am concerned, it's by far the hardest part of trading.
I believe that the vast majority of us have the capacity to learn how to trade. And while I believe the same people also have the capacity to adapt mentally to trading...most won't, because it is so difficult. It's not like picking up a book and studying a subject matter. You have to look at the core of who you are (warts and all) and actively pull the rug from under yourself.

Well done so far Brewski!
Whatever happens, you got this!
 
cbrads said:
Are you eyeing up any other set ups on other instruments or just concentrating on the biggy?
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I won't be doing anything else until this one is done although I may add to it if it drops down to 23400 (futures not cash)

Signalcalc said:
Shame, that will put the £1M prize back a few years.
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You just want me to blow up so you can say you were right all along that I'm just a gambling mug:LOL:

Nothing stopping you from going for the £1M though, start up a thread and go for it (y)
 
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