Follow my trades

Let me ask you a serious question Mugsy.

You are trading 5 indexes ( indices ? ).

Does your system aim to be profitable on each and every one individually or does it seek to make an overall profit after combining them ?
 
Mug

You are not doing this right mate.. You should have posted few Post event analysis and Charts with post event profits running into 1000's a day and then if any one quizzed you over your system ask for few hundred quid for a 1-2-1 to show them some thing which is all over the internet for free, and if you are a good politician , you can always support your trades with vague and subjective comments..

However , I congratulate you for having the gut to let people see your performance before you charge them ..

I hope your system performs but remember the stoploss... A system without stoploss is a car without a brake ...
 
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I have posted trades for five Indices so each individual can choose which 1 suits them. You must only pick 1 and stick with it!!

I dont use a stoploss, but you can use 1 if you wish! Im simply giving you a trade its upto you how you execute it.

Im working on putting a stoploss as we speak, somebody in a earlier post said that once there stake money reached £10 per point a stoploss would definately have to be introduced

Im working on it right now, i need a figure for each individual index, as i dont want any eventual winning trades being stopped out coz they went the wrong way 4 a day or two

Mug2k

Grey1, of course im doing it all wrong! nothing is right when posting trades for free!!! They should lock me up and throw away the key.
 
Mug2k wrote

I dont use a stoploss, but you can use 1 if you wish! Im simply giving you a trade its upto you how you execute it.

Im working on putting a stoploss as we speak, somebody in a earlier post said that once there stake money reached £10 per point a stoploss would definately have to be introduced

Im working on it right now, i need a figure for each individual index, as i dont want any eventual winning trades being stopped out coz they went the wrong way 4 a day or two
Click to expand...

That is slightly worrying MUG2K that you endorse a system without money management. One of the most famous systems ever, Turtle Traders, uses a % money management system. I know no consistently profitable traders who dont use money management as a major major part of the strategy. AND YOU DROP IT IN AS A CASUAL SIDENOTE AFTER ALL THE HYPE..." I am working on it now "

When you have figured it out, let us know. I particularly am interested if it is a fixed stop loss, percentage stop, or ...etc
 
mug2k said:

But again i havnt got time to day-trade and its not my style anyway.
Click to expand...

why don't yuo have time to day-trade? if yuor system is as good as yuo think it is, why not give up the day job?
 
Car Key Boi, you need to brush up on your Cockney rhyming slang.

Porkies = Pork Pies = Lies

But I think it is a bit strong and rather unfair to suggest that Mugsy has been telling lies. He's just doing his thing and a lot of extremely sour and arrogant " people" on this site just cannot cope with that. A sad trait in the British character I fear.
 
Alan, I disagree. Although there is a case for the sad British trait (sorry guys :cheesy: ) the point is that there is an inherent flaw in the argument in that it pitches a system with no safety. It could have been anyone. I am pointing out to you guys that trading is a business. To make a success of it you need to treat it as such. Selling a system without a safety feature is dangerous.

You may or may not be aware of the business I am in. I am telling you, hands down, the one thing that most do wrong is not to take their losses. Its an ego thing.

We got a saying on the desk: "the first cut is usually the cheapest".

As for MUG2K, he may have a superb system and I will most definately have a look. I just hope that people here realise the bigger issue which is at stake here, and which prompts me to write on this board: you can't trade without knowing where to get out if sh~@ hits the fan.

I know a lot of traders, I know almost no good traders. The good traders always use stop losses, tight stop losses. The others use "uncle points". If that point is hit they usually have to either replenish the account or stop trading for a while.

Merry xmas everyone and a happy New Year.
 
You are missing the point entirely Sunseeker.

I fear that too much sun has addled your brain.

But yes, I do agree about money management but that is not the point I am making.
 
what point are you making then? Or should I just wait for MUG2K to answer the question on the stop loss policy?

Have you ever heard the story about the trader who traded using a coin flipping strategy. I think it is described in one of Pesavento's book. Either way he makes money out of it because of money management. 🙂
 
The point I am making is that here you have a young guy who has the courage to post his trades on this acerbic site.

Granted he has not done it in the best manner possible and he does not rate alongside the likes of Nas and Mr Charts.

However, despite making every mistake in the book , he is endeavouring to construct a system and a website for all and sundry to see. No doubt he will introduce money management as he goes along and I hope for his sake that he does.

He is not trying to coerce people into parting with their money. He is simply attempting to produce a system that maybe one day will be good enough to sell to 3rd parties. In the meantime he is inviting people to follow his trades and this takes some courage I reckon. I sure as hell aint gonna do it.

And what does he get from the great British public for his honest efforts. He gets bloody crucified, publicly flogged, vilified and called a liar.

I for one think that sucks.

Remember though that Jesus Christ was crucified for practically nothing and he went on to become more famous than Muhammad Ali for Chrissakes.

Have a good one.
 
Sunseeker,
Apologies for going off the thread topic, but I was struck by your comment that . . ."I know a lot of traders, I know almost no good traders". Obviously, the number of good (profitable) traders is going to be swamped by the not so good (unprofitable) ones but, even so, I would expect you to know a fair few of the former? The oft' referred to stat's are in the region of 95% lose to 5% win, but your comment suggests the ratio could be even worse than this? Just curious!
Tim.
 
Sunseeker and timsk,

Yes that quote struck me as well

By Sunseeker: I know a lot of traders, I know almost no good traders
Click to expand...

This is hardly the best comment for encouraging the opening of an account with your employers is it ?


Paul
 
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