get busy livin or get busy dying

[valuehunter]

Glad i have found this resource, felt alone for weeks now, trying my second return to spreadbetting. first trade was a disaster, going long sometime in 2001, on the day of the biggest fall. just bad luck??

Im a proffesional Optometrist, earn a decent living, but have ambitions to steadily replace my income, passively. My wife and i hope to build cashpot for a move to austraila in 12-18 months.

Enticed by the 4 trades offer £85 pounds on paddy power, i have opened two accounts and been trading. mixed results so far, losses and wins and panicked closes (would have come right if i was patient). Even a trade in the wrong direction, due to click error
started with £200, would eventually but more in. total invested so far £750
as of today £300 balance.

my style has involved looking at the peaks and troughs and buying or selling at reverse, only small amounts 1 per trade. happy to take a small profit anywhere between 20-50 pounds.

most of losses have been on binary bets short term ftse future bets, touch, hour level etc. £200 loss today on brent futures aug. stop loss activated.

anyway i have a few questions if anyone can help.

1) paddy power awful?? large spreads?? poor trading platform, the java script issues is old and doesnt respond quickly. sometimes closing trades not excuted, and only seem to do so, in there favour.

2) suggest best platform, including new sign up offers

3) will be using a htc touch 3g phone. or considering buying a small netbook 10 inch samsung nc10.
both so i can trade inbetween seeing patients, when im working

4) need strategy recomendations - specifcally day trades, for small profits.
theory of compounding, each small trade won will build cash pot.
briefly looked at the fibonacci trends- as potential strategy, any comments.

5) plenty of info on here, but overwhelming, a links to BEST posts considering above. no time to read them all.

thanks in advance.

(frowns on smiley use) lol and abbreviations.

 

[Black Swan]

Glad i have found this resource, felt alone for weeks now, trying my second return to spreadbetting. first trade was a disaster, going long sometime in 2001, on the day of the biggest fall. just bad luck??

Im a proffesional Optometrist, earn a decent living, but have ambitions to steadily replace my income, passively. My wife and i hope to build cashpot for a move to austraila in 12-18 months.

Enticed by the 4 trades offer £85 pounds on paddy power, i have opened two accounts and been trading. mixed results so far, losses and wins and panicked closes (would have come right if i was patient). Even a trade in the wrong direction, due to click error
started with £200, would eventually but more in. total invested so far £750
as of today £300 balance.

so you've lost 60% of your capital inside a couple of weeks?

my style has involved looking at the peaks and troughs and buying or selling at reverse, only small amounts 1 per trade. happy to take a small profit anywhere between 20-50 pounds.

Is that it, that's your strat/methodology?

most of losses have been on binary bets short term ftse future bets, touch, hour level etc. £200 loss today on brent futures aug. stop loss activated.

<breathes out heavy sigh>:-0

anyway i have a few questions if anyone can help.

1) paddy power awful?? large spreads?? poor trading platform, the java script issues is old and doesnt respond quickly. sometimes closing trades not excuted, and only seem to do so, in there favour.

2) suggest best platform, including new sign up offers

3) will be using a htc touch 3g phone. or considering buying a small netbook 10 inch samsung nc10.
both so i can trade inbetween seeing patients, when im working

4) need strategy recomendations - specifcally day trades, for small profits.
theory of compounding, each small trade won will build cash pot.
briefly looked at the fibonacci trends- as potential strategy, any comments.

5) plenty of info on here, but overwhelming, a links to BEST posts considering above. no time to read them all.

thanks in advance.

(frowns on smiley use) lol and abbreviations.

emoticons are ace, oh and start by acting professional and learning how to spell it. Don't give up the day job...:whistling

 

[jackolan]

trying my second return to spreadbetting. first trade was a disaster, going long sometime in 2001, on the day of the biggest fall. just bad luck??

No... more like you weren't doing your homework and didn't have any firm understanding of which way the market was likely to go on that day.

have ambitions to steadily replace my income, passively

Can't be done with spread betting. This is a very active hobby/profession. You spend hours each day staring at charts, and the rest of the day watching Bloomberg (as an example) and/or reading the business press.

total invested so far £750 as of today £300 balance.

Best advice would be to stop now. Take a breather, figure out how many hours a day you're willing to spend on this and then come back when you have at least several weeks (months) worth of background information.

my style has involved looking at...

Can you articulate (to yourself) why you are doing this? Do you know when you enter the trade that you are likely to win or is it just a 50/50 shot?

most of losses have been on binary bets short term ftse future bets, touch, hour level etc. £200 loss today on brent futures aug. stop loss activated.

Best advice would be to pick a single market that you're willing to spend a few hours a day getting to know, and then get to know it. Once you are comfortable with its personality then trade on paper (not with real money) until you're pretty sure your trades are going the way you want them to.

2) suggest best platform, including new sign up offers

Try Worldspreads or one of their White Labels (e.g. Victor Chandler). Currently offering to return £250 of any losses.

will be using a htc touch 3g phone. or considering buying a small netbook 10 inch samsung nc10. both so i can trade inbetween seeing patients, when im working

I can't advise this. Timing is everything. You need to get into the trade at the right moment and get out at the right moment, especially if you want to scalp small profits.

If you currently have a full time job try longer term trading... no reason why you couldn't put on a spread bet in the evening with clearly defined stop loss and limit and let it ride for the whole day. Come home, check the results, put your next bet on.

Jack

 

[valuehunter]

thanks for advice jackolan.

as far the black swans advice - not existent,
just ego boost for ones self. (was probably born a trader ,i suppose with nothing to share. im dyslexic, so dont care if i cant spell.