How much to bet

Frankelgine

Newbie
1 0
I've just joined Vincent Stanzione's Market Monitor. I know I'll receive plenty of sarcie replies to this, but::- How much per point should one bet, bearing in mind a maximum risk of £300.00 on each trade and the need to win at least the monthly subscription? ? Anyone care to comment to a novice? Thank you.
 

BBB

Experienced member
1,071 3
Why not the whole account? Following others systems and plans implies you're going to lose anyway, so why not have some fun and do the whole lot. You never know - you may come good.

If you do lose - you'll learn a lot more, and a lot more quickly than death by 1000 cuts which is the way most seem to go about trading.

You'll probably get a load of do-gooders telling you to ignore me and do 1p a point or however spread betting works until you get confident. Like I say - death by 1000 cuts. You learn nothing until it hurts. :(
 

Mr. Charts

Legendary member
7,370 1,194
Perhaps you should consider learning about risk, money and position management before risking one single £.
After that, paper trade first to make sure you understand what you are doing.
I'm not in the business of criticising other coaches, but you should have been taught these things during your training.
Anyway, what are you subscribing for and how much are you paying....and how long before you can cancel that subscription..........?
Back to the barbie and Chardonnay.
Richard
 

Two Bars

Junior member
26 1
If you have to ask the question how much to bet, then you must be having reservations about trading the system.
 

luckylady

Newbie
7 0
Frankelgine said:
I've just joined Vincent Stanzione's Market Monitor. I know I'll receive plenty of sarcie replies to this, but::- How much per point should one bet, bearing in mind a maximum risk of £300.00 on each trade and the need to win at least the monthly subscription? ? Anyone care to comment to a novice? Thank you.

Whoa! PLEASE don't take action yet! I'm also a complete novice and Market Monitor member (trading for 9 weeks).
Very careful study of the weekly recommendations in conjunction with your broker handbook (spreads, min bets etc) will provide your answers regarding risk and profit. Also......phone Vince and/or broker's customer services if you are unclear on anything. I did.....several times!
GOOD LUCK!
 

luckylady

Newbie
7 0
BBB said:
Why not the whole account? Following others systems and plans implies you're going to lose anyway, so why not have some fun and do the whole lot. You never know - you may come good.

If you do lose - you'll learn a lot more, and a lot more quickly than death by 1000 cuts which is the way most seem to go about trading.

You'll probably get a load of do-gooders telling you to ignore me and do 1p a point or however spread betting works until you get confident. Like I say - death by 1000 cuts. You learn nothing until it hurts. :(

Dear BBB

We've all got to start somewhere. A little support at the start of our trading endeavours is needed by those of us who know little (or nothing). I am developing my own methods and systems now and have made a modest profit which would probably be laughable to highly experienced and talented traders, however I'm started and as I said....we've all got to start somewhere.
 

BBB

Experienced member
1,071 3
Well done Luckylady. You're going to learn a lot faster developing your own method than someone elses - because you understand it.
 

adrianallen99

Established member
630 4
luckylady said:
We've all got to start somewhere. A little support at the start of our trading endeavours is needed by those of us who know little (or nothing). I am developing my own methods and systems now and have made a modest profit which would probably be laughable to highly experienced and talented traders, however I'm started and as I said....we've all got to start somewhere.

I don't think any experienced/talented trader would laugh at you making a modest profit. In fact many traders will be envious of the fact. Just to make a profit, however small is an achievement to be proud of.
 

stopped out

Newbie
5 0
BBB - Regarding your first post "Why not the whole ammount..." EXCELLENT. I think you are right in that the quickest way to learn is to loose the money.
Frankelgine - How you do that depends on weather you are a gambler or trader.
 

luckylady

Newbie
7 0
adrianallen99 said:
I don't think any experienced/talented trader would laugh at you making a modest profit. In fact many traders will be envious of the fact. Just to make a profit, however small is an achievement to be proud of.
Thanks for your comments. Trading now for 12 weeks and making a healthy profit. All was going smoothly but now that I am placing larger positions I find that sometimes my dealing screen goes blank or, as happened last week:-
soyabeans ........ bought at start of trading day........very dramatic move in my direction.
SB bias was also in my direction. Wonderful!
Then the deal buttons turned to closed . By the time I exited by phone I had lost all profit. Am I paranoid in thinking it strange these things occur as soon as I am making decent money?
 

TWI

Senior member
2,536 254
I would like to know if there are any traders on this forum who made a success out of following one of these self proclaimed guru courses.....
I have been trading full time for many years now and I have yet to meet anybody who made it from one of these courses or subscription newsletters.
This forum is free and I imagine there is more useful information archived here.
Simplify, simplify, there is no complex secret out there.
 

luckylady

Newbie
7 0
stopped out said:
BBB - Regarding your first post "Why not the whole ammount..." EXCELLENT. I think you are right in that the quickest way to learn is to loose the money.
Frankelgine - How you do that depends on weather you are a gambler or trader.
Stopped out
I am also a newbie. I ordered a course by mail and just got started! When I look back I realise that I have indeed been very lucky. " A little knowledge is a dangerous thing". I knew nothing about risk/reward , SB bias, money management .......
I suspect that many people are attracted because they hope for a "get rich quick" result. Sadly, this is how many, perfectly good, courses are marketed. If a trade moves the wrong way I stop out immediately. That way I keep capital relatively intact. I agree....losing trades really accelerate the learning curve!
 

Wonkyw

Newbie
1 0
Spreadbetting

Hi all,

I am a neewbie to the forum who signed up to Vince's methods some years ago. The basic info on markets and trading is good but when it comes to following the trades, as a beginner can be scary. He uses v. large stop losses leading to high risk to reward ratio.

From my experience, the best way is to background read a bit of Technical Analsyis and develop your own methods that work for you, ie are you looking to day trade, trend trade etc?. I now work my own system and trade daily making more trades but for smaller profits at a reduced risk to my capital.

There is plenty of information available freely on sites such as this to help you develop strategies.

Good luck with your trading, if Vince's system works for you then go with what you feel.

Regards

Rich
 

luckylady

Newbie
7 0
Wonkyw said:
Hi all,

I am a neewbie to the forum who signed up to Vince's methods some years ago. The basic info on markets and trading is good but when it comes to following the trades, as a beginner can be scary. He uses v. large stop losses leading to high risk to reward ratio.

From my experience, the best way is to background read a bit of Technical Analsyis and develop your own methods that work for you, ie are you looking to day trade, trend trade etc?. I now work my own system and trade daily making more trades but for smaller profits at a reduced risk to my capital.

There is plenty of information available freely on sites such as this to help you develop strategies.

Good luck with your trading, if Vince's system works for you then go with what you feel.

Regards

Rich
I agree. A course can provide an initial starting point.
 
 
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