Ftse Professional Scalping

  • Welcome to the newest version of Trade2Win! We're running on the latest version of, what we consider to be, the best forum software available today. Our aim was to keep things as familiar as possible but focus on improving speed, security and usability. We hope you like the result! Please post your questions, comments, suggestions and feedback in the What's New and Feedback Thread - Sharky.

DowJones

Well-known member
Aug 11, 2003
1,236
436
93
#81
thanks DowJones.

may I ask, how do you scalp? i mean what's your risk and reward?
or what's your typical target or does this vary?
any pointers would be gratefully received

and thanks for the info again. suppose i should say his service is subscription free in that i only pay him some profit share if i make any, otherwise there are no other costs especially if i don't make any money!

Alx
My approach is discretionary, risk/trade is tiny, targets vary - not trying to be too evasive but the small amount of info I could post here would not really do justice to the approach.

No probs re: the info. I would just re-iterate that caveat emptor always applies. Are you sure the guy is trading a live account?
 
Oct 27, 2013
39,928
3,299
323
#82
I applaud tar and DowJones for putting their differences aside and commenting on the topic of the thread and, in particular, addressing Alex Flemming's question about 3-5% risk. Good on you chaps!

FoMo - you on the other hand can't resist the opportunity to infect every thread telling us how great you are and prattling on ad nauseam about the shortcomings of the commercial side of the industry.
Edited as requested with no reference to me :(

:)

Regards


F
 
Apr 26, 2014
17
0
11
#83
My approach is discretionary, risk/trade is tiny, targets vary - not trying to be too evasive but the small amount of info I could post here would not really do justice to the approach.

No probs re: the info. I would just re-iterate that caveat emptor always applies. Are you sure the guy is trading a live account?
yes he has a demo and a few live accounts.
Uses the demo for back testing and says we all should have one for for every day use
 

DowJones

Well-known member
Aug 11, 2003
1,236
436
93
#84
yes he has a demo and a few live accounts.
Uses the demo for back testing and says we all should have one for for every day use
I watched a few of his live trade videos, and noticed he was carefully covering his right-hand-side fxcm charts with demo charts from another provider. So I opened a demo fxcm account to investigate (yes I am anal like this) and noticed that on the right-hand-side it labels the platform as demo (which is conveniently hidden in this guys live videos). I then checked his posted statements and noticed the account number changed a couple of times (see red box in attached pic) - this is what happens when demo accounts expire. Also note that his account total has reduced - due to account resets or losses? (see purple box in attached pic). Finally I noticed a tab in his browser labelled "false allegations", which must go nicely with the FCA warning (see other attached pic) lol.
 

Attachments

Last edited:

DowJones

Well-known member
Aug 11, 2003
1,236
436
93
#85
Here's an update from his live trading room...

Strategy: average down with no stop-loss
Risk/reward today of MINUS 3:1
Money spent on spread exceeded profit

Well, I think you get the point...
 

Attachments

SpreadDoctor

Active member
May 1, 2014
318
58
38
#86
Here's an update from his live trading room...

Strategy: average down with no stop-loss
Risk/reward today of MINUS 3:1
Money spent on spread exceeded profit

Well, I think you get the point...
hah. another one 'scalping' via a spread bet / dealer. The FTSE futures (Z) would give you a spread of 0.5 not to mention being able to add liquidity. :smart:
 

DowJones

Well-known member
Aug 11, 2003
1,236
436
93
#87
hah. another one 'scalping' via a spread bet / dealer. The FTSE futures (Z) would give you a spread of 0.5 not to mention being able to add liquidity. :smart:
It's even worse, he appears to be using a demo account, pretending it's real, using a method guaranteed to fail and then charging people to learn all this... jesus I hate the whole retail trading game...
 
Apr 26, 2014
17
0
11
#88
It's even worse, he appears to be using a demo account, pretending it's real, using a method guaranteed to fail and then charging people to learn all this... jesus I hate the whole retail trading game...
Hi Dow Jones,
again, thanks for your input. really good to see what others think.

just wanted to clarify a few things for my own peace of mind really because at the end of the day, i'm using this set up with great results.

1. Dom does use a demo for back testing and does share it often encouraging everyone to have a demo to use when trading on our own with limited experience.

2. as you showed on your previous post, he has a live account (number was 2510......) and that was showing a balance of £56k from your snapshot so all good.

3. he doesn't charge anything for his service. it's subscription free so I don't pay him anything if i lose money. so the way i view this is win win i think to be fair to the guy.

4. at the end of the day he is trading the London open every morning using a combination of live and demo accounts to good effect because he clearly understands price action on the Ftse like nobody's business!

5. he has already mentioned the fsa dealings because he said he made mistakes and needs to be regulated to carry out certain business functions. hasn't denied it nor is it affecting my trading.

so my only real concern was initally nothing to do with this guy's excellent ability to trade the ftse. it was more to do with my appetite for risk vs reward as i have never been to disciplined when it comes to risk and money management. working on it though with the help of dom.

thought i should share this with anyone to say don't be put off and actually do just give him the benefit of the doubt as he rarely has a losing day, and i mean rarely

thanks
Alx
:smart:
 

tar

Well-known member
Nov 18, 2006
10,441
1,308
223
#89
"because he clearly understands price action on the Ftse like nobody's business!"

"this guy's excellent ability to trade the ftse"

"as he rarely has a losing day, and i mean rarely"


Say hi to him ;)
 

DowJones

Well-known member
Aug 11, 2003
1,236
436
93
#90
No, it appears that you are being disingenuous and trying to promote Dominic Nardone here...

1. As I think you know, it was mentioned that these trades were all on a live a/c... the demo a/c's were not shown for back-testing, they were used to promote the trades in the live trading room. I know someone who went to the live room, saw the demo a/c number and trade losses. They also heard Dom stating (amongst other things) that he never used stops.
2. As I explained, the fxcm demo accounts have a 50k starting point - conveniently the a/c size Dom chooses.
3. You previously said that Dom charged you via a portion of your profits. I also know someone who emailed him and a discussion involving payment was had... oh, and I just found this on another thread: "...He gives you live entries and exits, then you pay him 30% of your profit through Paypal. The 30% I understand is based on taking recommended trade values of £3 per point, though he claims to trade his own positions at around £100 per point..."
4. If you think averaging down with no stop-loss is an "excellent ability to trade the ftse", then you are beyond help...
5. If someone is providing financial (trading) advice to people in return for payment, surely they should be FCA authorised - maybe I'll send all this info to the FCA and see what they think... oh and while I'm about it, I guess I should also pass the payment info on to HMRC.

This site gets worse and worse...
 
Last edited:
Apr 26, 2014
17
0
11
#92
No, it appears that you are being disingenuous and trying to promote Dominic Nardone here...

1. As I think you know, it was mentioned that these trades were all on a live a/c... the demo a/c's were not shown for back-testing, they were used to promote the trades in the live trading room. I know someone who went to the live room, saw the demo a/c number and trade losses. They also heard Dom stating (amongst other things) that he never used stops.
2. As I explained, the fxcm demo accounts have a 50k starting point - conveniently the a/c size Dom chooses.
3. You previously said that Dom charged you via a portion of your profits. I also know someone who emailed him and a discussion involving payment was had... oh, and I just found this on another thread: "...He gives you live entries and exits, then you pay him 30% of your profit through Paypal. The 30% I understand is based on taking recommended trade values of £3 per point, though he claims to trade his own positions at around £100 per point..."
4. If you think averaging down with no stop-loss is an "excellent ability to trade the ftse", then you are beyond help...
5. If someone is providing financial (trading) advice to people in return for payment, surely they should be FCA authorised - maybe I'll send all this info to the FCA and see what they think... oh and while I'm about it, I guess I should also pass the payment info on to HMRC.

This site gets worse and worse...
to be honest DJ, you do make plenty of sense so thanks for the help and advice.
won't say anything more on this subject as my focus is as only ever been on learning and continue to value the output from these chat groups

Cheers
Alx
 
Apr 3, 2017
3,620
136
73
#94
"because he clearly understands price action on the Ftse like nobody's business!"

"this guy's excellent ability to trade the ftse"

"as he rarely has a losing day, and i mean rarely"


Say hi to him ;)
I too have my blinkers on , please be positive , I thought Barjon was making live calls on this thread , must get my blinkers off .look on another thread.

Tar I loath thee for finding geniuses