How I turned £3000 into £20,000 in 6 Weeks

Aston1st

Well-known member
256 26
Thanks for the above Windlesham. I have have been sneaky trading over the Christmas break and made a 10 minute video of my trading to day, only to find out that the bloody microphone was not working on the clip!!!! Redone the clip with audio:

Money Never Sleeps - Trading over the Christmas Break

I shall take time to study your Blog which is very informative by the way.
 
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Windlesham1

Well-known member
441 31
I try and keep much of the complexity out of it -but ultimately when we pull the trigger we are trading our opinion. I summarise my trading by saying that I trade relationships. The last few days have been interesting- I have Jan expiry trades running and try to chill but rweally should have added to positions in the madness-though I doubt I'd have got the fills I would have liked.
 

alan5616

Established member
672 48
naked buying is as bad as naked selling if you are able check out my blog- I generally advocate a strategy- would you buy an ice cube in a heat wave? Never buy naked when volatility is high-and it IS high. You can find me on Twitter too-forgot about that!
Sorry for joining the discussion rather late but, that thing called Christmas got in the way! I've caught up on the thread, within the last couple of days, and it makes good reading.

I traded options, successfully, several years ago, but never got the same buzz as I did from trading indices or forex.

One point that I disagree with Windlesham on is that "naked buying is as bad as "naked selling". Sorry Windlesham but, it just isn't. If you buy an option, your risk is limited to the premium which you pay to the writer of the option. You have no obligation to exercise that option. However, naked selling can result in unlimited losses.

Excuse the anecdote but it is relevant. Some years ago, I came close to a substantial loss on such a trade. The stock was trading at around £7.50 and I wrote a put option at a strike price of £7.30 with two weeks left to expiry. The price dropped down to 732 by expiry date so, I collected the premium and that was that. Had the expiry date been a week later, the price had dropped to 718 and I would have been required to buy £30,000 worth of shares. Those shares, approximately a year later, were trading @ 10p!!!. The company, eventually folded.

I don't pretend to be an expert but, my personal belief is that trading naked calls and/or puts is a very risky business.
 

Windlesham1

Well-known member
441 31
alan I allude to the mindset of the naked trader- risk is another issue altogether and risk isvirtually unlimited when you sell naked. I take exception to the 'Robin Hood' crowd who buy and sell naked options like lottery tickets, when they are a sophisticated means of making profits . Options are not for gamblers. I've been trading since the last century and have been through every scenario. I spent years with futures and forex and like most others never made any money with them.
 
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Aston1st

Well-known member
256 26
A way for aspiring Traders to get sufficiently Backed without the Desk Fees!

The FTMO " Challenge"Prop Trading Model.

I have been doing the FTMO Challenge and making a few Videos about it.

A Review on the FTMO " Challenge" Prop Trading Model
From Floor "Local" - Trading Arcade to 21st Century Prop Trading Model.

FTMO Challenge Fail - Lessons Learned
My failing the challenge

Passing the FTMO Challenge despite a major set back.

If you would like to follow me on my journey - a long one at that then by all means subscribe ( Only have 88 subscribers so it's not monitised only sharing information).
 

Doormatcat

Newbie
3 0
I basically trade on forex major pairs and follow scalping as my trading style. Scalping is quite interesting but only for experienced traders and not for newbies.
 

Aston1st

Well-known member
256 26
I basically trade on forex major pairs and follow scalping as my trading style. Scalping is quite interesting but only for experienced traders and not for newbies.
Scalping is tough but a great way to trade if you have decent trading platform to sustain it. Try Trading Technologies, Stellar, Ninja or even Prospreads ladders DMA.
 
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