city index trading academy
- Thread starter piggybridges
- Start date
- Watchers 33
Keep your Profits Close & Your Stops Closer (d) #TradingAcademy
10:17am - 8 Nov 12
https://mobile.twitter.com/alaidi/status/266469420371673088
...and that's from the mentor!
10:17am - 8 Nov 12
https://mobile.twitter.com/alaidi/status/266469420371673088
...and that's from the mentor!
Vasco da Banana
Established member
- Messages
- 699
- Likes
- 121
Not sure if it will help her trading, but I can report that It goes up a lot less than it used to.
Last edited:
random12345
Established member
- Messages
- 793
- Likes
- 280
Had the displeasure of watching this during the morning session.
God awful. There is always something telling when an analyst (Chen) comes on and says right away, all smug, (he's heard it before from other successful analysts of course and note I'm paraphrasing, I can't remember the exact line) - 'there is no guaranteed way to make money in this game.'
Sorry, but yes, yes there is, with all due respect to those who struggle on here (I have struggled in the past, everyone does). A few ways in fact... how else does he think people do this for a living without enormous bankrolls and fill volume to move the market, he's undermining the whole idea of an independent trader in my opinion.
That is, undermining it barring my broadband constantly going down of course. Maybe that's what he means? You can't have a sure thing in this business because your ADSL will conk out before you cash out. I love it when my charts stop ticking and my router goes red and just won't connect again, hahaha I absolutely love calling IG up and asking them to close a trade while the Shoreditch f**kwit tells me the current fat L on my P&L because 3G simply doesn't work in MY CENTRAL LONDON FLAT either. Don't worry though, we have a little joke with each other on the call, something about no holiday to Monte Carlo for me this month. Amusing little c**t. Perhaps it's my friendly voice that makes them veer into joviality.
Has anyone on here ever had a leased line installed in a residence? Is it feasible in a London flat if so? Or EFM (Ethernet First Mile)? I could barely get broadband... a few hundred quid would be well worth it. I lose at least £1000 a month (if I'm lucky) from flaky broadband so there's some profit in it...
Thanks. Sorry for the tangent.
Bye!
It seems all they are proving is that they cant take someone off the street and teach them to trade. Hilary is the best at demonstrating this with tweets like "How do you know when it is finally going to go up?". I'm sure they are all nice people but some of them are clearly clueless, what does that say about City Index's ability to train people?
At least Baghdady kept everybody on message for a while.
At least Baghdady kept everybody on message for a while.
Week 1 they lost £583 between them.
Week 2 looks like a loss of £366 between them.
Shakone
Senior member
- Messages
- 2,460
- Likes
- 665
Although that looks like they might have improved in week 2, we should be aware that they kicked the worst performer after week 1
Yes if they kick more people out they will definitely lose less.
Perhaps some more creative transaction reporting required.
FSA fines spread bet broker £490,000 for transaction reporting failures
FSA fines spread bet broker £490,000 for transaction reporting failures
counter_violent
Legendary member
- Messages
- 12,636
- Likes
- 3,780
Well here's some more advice.
Stop buggering about on Twitter and concentrate on the job in hand
100k prize fund eh...thats about 4 yrs nett wages I would imagine
You would think that was enough incentive.
Did she take my advice
No Tweets for 18hrs.
https://twitter.com/Hilary_Leighter
Its not doing her much good.
5 Hilary Leighter -127.80 -0.11 24 -2.56
justtrader
Well-known member
- Messages
- 472
- Likes
- 71
Just had look at her Blog
Has this person had a lobotomy or what?
Has this person had a lobotomy or what?
It's clear she is clueless and has had either useless training or no training at all. Even with that level of 'knowledge' she is doing better than 3 others, one of whom supposedly had a good track record!
The other brokers must be having a good laugh.
justtrader
Well-known member
- Messages
- 472
- Likes
- 71
Where are the results for the others exhibited?
Maybe I cam learn something as my trading has been absymal today
Well well well..I almost feel like some kind of celebrity having seen my name come up so many times
So the truth and the whole concept, that you have all been waiting for!
Your right the whole competition is all a marketing and money making scheme however the production company have everyone tied down and made me say things like "buy a fast car", "pretty sure I am going to win it" blah blah blah. Made us walk in and out of the building 20 times, made us pretty much like robots, made Chen and Laidi like robots and say things completely different to what they did off camera..but what do you expect!
Truth is, I have traded for about 6 months using a very basic price action, technical analysis swing trading approach and have done quite well in the forex and commodities areas. I saw the advert, I saw 100K and thought, why not go for it. Was I expecting to learn..no not really I just wanted the 100K! I could learn more reading a book or spending an hour on here reading posts!
So week 1, we are trading the FTSE (completely out of my trading plan, never traded indices in my life) we cant trade until 7am on Tuesday and have to finish by 12pm on Friday so just over 3 days to trade it for the week.
So I start, make my first trade and see that I am £30 down, nothing major, went for a 30 pip gain with a stop and risk of 10 pips at £3 a point, well within the money management less than 1%! however I noticed at the end of the day that I was the only one that has traded really and everyone else was risking 50p a pip with a 5k account! To say everyone was playing a game was an under statement!
So because of the live P&L board in my face I could see I was last and I found myself only concentrating on my position on that board rather than the markets. As you all know trading is a very personal thing and when I am trading to chase the market and im against the clock it is pretty hard to make decent decisions. People literally were doing nothing and I couldn’t believe it, 5K is a lot and yes I lost 440 of it but to be honest half of that was desperation trades but you will see why later on.
On top of this I was the only one working a 50 hour week and the cherry on top is that in the initial rules I was told the bottom 3 P&L each week are up for elimination but I then message Ashraf Laidi to double check and he told me that it was 100% the bottom P&L that gets eliminated!!
So you can imagine my thoughts, I am £300 down from the 2nd bottom, I have 24 hours to get myself out of this or im out anyway so I may as well go high risk! Only then to be told after I made the risky trades that it was the bottom 3 all along. What a load of sh1t!
On the final day I did trade the NFP release and did very well, top of the P&L for the day however it was to late, even though I battled my corner they eliminated me....
BUT...
the best bit is this...
Off the camera at the end I am told, "James we would like to have kept you, you are great on camera, good personality and its clear you would bounce back and be a good competitor. You can see the other 2 in the bottom 3 on camera said they didn’t think I should go or they would see me as competition however all that aside......
this is an advert for cityindex at the end of the day and we cant be seen to be promoting overtrading as this would be detrimental to the company, so you had to go"
THANKS!
I am just frustrated as I have the humiliation of being the first out of the competition and everyone thinks it is because I cant trade or I am a moron but when the set up is how it is, what chance did I have, that’s not trading, its competing.
We all know its hard enough beating the market let alone other people within a certain time frame forced to trade a market I am not used to. I would never do that in the real world.
What they should of done is kept everyone for the duration and gave the 100k to best P&L over the competition period and they can trade what they like and when they like. This way it is much more an autonomous process and not this micro management style!
Oh well it was a bit of fun, there nice people and yes Hilary truly is that annoying and moronic in real life, in a first seminar she asked the difference between buy and sell, but she is learning and she is giving it a go.
None of them are actors, although I was convinced Hilary was at first haha!
John Walsh is by far the nicest and most genuine guy and I do want to see him win and I hate to say I told you so but you see me say, "you can teach an old dog new tricks! well look at John Mac...fooked it again!
Anyway enough said, there is the truth and my defence..
I look forward to your abuse and comments...
Well you provided us with some light entertainment, cant wait for Hilary to show up.
Youre right of course, the whole thing is destined to fail. Do you really think think they'll give the winner 100K cash?
Lord Flasheart
Legendary member
- Messages
- 9,826
- Likes
- 985
Jamie
Top marks for coming on here. I really hope you have a good trading career where ever it is. Do you think anyone at CI knows how to trade? to me they just want punteres and Id bet my bottom dollar those analysts cant trade
Top marks for coming on here. I really hope you have a good trading career where ever it is. Do you think anyone at CI knows how to trade? to me they just want punteres and Id bet my bottom dollar those analysts cant trade
