Mug2K
With this system you trade like a zombie. You must try and curb any instincts for possible direction. You're right it is a system and you either follow it or you don't. Even the most successful traders have losses ! They are part of a successful traders life. Look at Colins post above: Quote "i saw 100 point profit on the Ftse/Dow yesterday so i took it, only to see another 100 point profit if i had held ?
"
Regards
IK
With this system you trade like a zombie. You must try and curb any instincts for possible direction. You're right it is a system and you either follow it or you don't. Even the most successful traders have losses ! They are part of a successful traders life. Look at Colins post above: Quote "i saw 100 point profit on the Ftse/Dow yesterday so i took it, only to see another 100 point profit if i had held ?
"
Regards
IK
Thats true what your saying IK, you got to follow the system properly to be fully sucessfull in the long term. 
IK, in your stats page i noticed a loss of around 3-4 hundred on a few trades, does the system determine when to exit the trade, or do we pullout when we think its time to exit? Im asking because I feel that even when carrying a loss things can start to come back in your favour and save u some points!
Im enjoying this system so far, if only there was more days in the week! :cheesy:
IK, in your stats page i noticed a loss of around 3-4 hundred on a few trades, does the system determine when to exit the trade, or do we pullout when we think its time to exit? Im asking because I feel that even when carrying a loss things can start to come back in your favour and save u some points!
Im enjoying this system so far, if only there was more days in the week! :cheesy:
Mug2K
Don't worry about the past 3-4 hundred point losses. I can recognise one of those quite fast and post an warning update to quit. Also I have a 7 day window for profits to occur and if trade is still down by 100+ points by then it's worth quitting. To achieve losses llike that now requires about 10-20 days for the trade to last. So don't worry !
Tricky the Dow Ftse trade carries on.
I have had some server problems today and I'm not sure all people have seen the updates I posted earlier on the site. I've got the techs on it so should be sorted soon. Don't panic though the bets must continue !
Have a nice weekend
Hugo
Don't worry about the past 3-4 hundred point losses. I can recognise one of those quite fast and post an warning update to quit. Also I have a 7 day window for profits to occur and if trade is still down by 100+ points by then it's worth quitting. To achieve losses llike that now requires about 10-20 days for the trade to last. So don't worry !
Tricky the Dow Ftse trade carries on.
I have had some server problems today and I'm not sure all people have seen the updates I posted earlier on the site. I've got the techs on it so should be sorted soon. Don't panic though the bets must continue !
Have a nice weekend
Hugo
Trading futures rather than Sbets
Quote :
"Ive been told by a friend to stop trading through sb firms and trade through IB, this way we all will make that little bit more profit and be able to jump on trades 24hours a day ."
Whats the situation with futures regarding capital gains tax? I know spread bets are tax free, but am unsure about futures.
Regards
Madog
Quote :
"Ive been told by a friend to stop trading through sb firms and trade through IB, this way we all will make that little bit more profit and be able to jump on trades 24hours a day ."
Whats the situation with futures regarding capital gains tax? I know spread bets are tax free, but am unsure about futures.
Regards
Madog
erm... being a complete novice to this and trying to understand something....
I am going to try and jump into this at the next reversal(if thats what you mean by the next entry point)...
Am I doing the dec future here for the ftse and dow? I have never had a bet carry on before overnight let alone the weekend...
So when IK says on Monday(or whatever day), say Buy Fste sell dow.. do I go on and say bet £1 a point long on the ftse and and £1 short on the dow.. and then wait?
Sorry to sound thick...(give me a network and routing and ill understand it better!)
Thanks & Sorry for the dumbass question
Terry
I am going to try and jump into this at the next reversal(if thats what you mean by the next entry point)...
Am I doing the dec future here for the ftse and dow? I have never had a bet carry on before overnight let alone the weekend...
So when IK says on Monday(or whatever day), say Buy Fste sell dow.. do I go on and say bet £1 a point long on the ftse and and £1 short on the dow.. and then wait?
Sorry to sound thick...(give me a network and routing and ill understand it better!)
Thanks & Sorry for the dumbass question
Terry
Glenn
Experienced member
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Futures
Capital Gains tax ? Yes
Perhaps more to the point is when the futs markets are open for taking positions.
May not suit Hugo's system.
Fascinating thread. What intrigues me most is that if the index difference goes beyond a limit (i.e. they get wider apart than the limit), then the trade is not to be taken.
Seems to fly in the face of common sense. However I bow to the system and it's success. Clever stuff.
Glenn
Capital Gains tax ? Yes
Perhaps more to the point is when the futs markets are open for taking positions.
May not suit Hugo's system.
Fascinating thread. What intrigues me most is that if the index difference goes beyond a limit (i.e. they get wider apart than the limit), then the trade is not to be taken.
Seems to fly in the face of common sense. However I bow to the system and it's success. Clever stuff.
Glenn
Hello Fazalv
Spread Trading is based on points and you will be buying/selling whatever currency you have per point. eg $1 per point. CFD's may need tweaking on this but as long as the currencies are equivalent in value so that you have equal dollar on the US and the same number of Euros that equal your dollar value on the european then thats fine.
Regards
Hugo
Spread Trading is based on points and you will be buying/selling whatever currency you have per point. eg $1 per point. CFD's may need tweaking on this but as long as the currencies are equivalent in value so that you have equal dollar on the US and the same number of Euros that equal your dollar value on the european then thats fine.
Regards
Hugo
Hello T Juk
You can do the Dec future as long as you can quit it after a few days ! Also you only get on the trade when the difference +/- 25 points is seen. When a trade ends its always safe to quit it regardless as the new trade will have officially begun and start moving against you. Generally the ideal difference is met on close anyway so you can normally reverse straightaway.
Regards
IK
You can do the Dec future as long as you can quit it after a few days ! Also you only get on the trade when the difference +/- 25 points is seen. When a trade ends its always safe to quit it regardless as the new trade will have officially begun and start moving against you. Generally the ideal difference is met on close anyway so you can normally reverse straightaway.
Regards
IK
Hi IK, sorry another stupid question, well 2 actually;
The situation with Thursdays buy DOW/Sell FTSE at a diff of 5141 or less trade is that based on current cmc quotes (9317 and 4146) the diff is still only 5171. I know CMC is closed for business on these at the moment but if in the morning the diff were to drop to be within 25 pts of 5141 would this still be a valid trade even though we are 3 days past the orignal signal?
Secondly regarding trade sizes (again) CMC trade the FTSE in £ and the DOW in $. To be trading equal monetry amounts on each half of the system presumably you trade $1.6 on the DOW for each £1 on the FTSE?
thanks once again for the generous flow of information.
Neil
The situation with Thursdays buy DOW/Sell FTSE at a diff of 5141 or less trade is that based on current cmc quotes (9317 and 4146) the diff is still only 5171. I know CMC is closed for business on these at the moment but if in the morning the diff were to drop to be within 25 pts of 5141 would this still be a valid trade even though we are 3 days past the orignal signal?
Secondly regarding trade sizes (again) CMC trade the FTSE in £ and the DOW in $. To be trading equal monetry amounts on each half of the system presumably you trade $1.6 on the DOW for each £1 on the FTSE?
thanks once again for the generous flow of information.
Neil
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Hello Robber
Yes that would be a great time to get on the trade. The trades last until the Dow closing price is met.
Last Thursday at the close the diffs were in the 5170 range but 10 mins later the Dow futures had dropped to 9275 and created a diff opportunity of 5131 where I got on.
These are good examples of patience and judgement as well as how futures can be beneficial as well as not !
Regards
Hugo
Yes that would be a great time to get on the trade. The trades last until the Dow closing price is met.
Last Thursday at the close the diffs were in the 5170 range but 10 mins later the Dow futures had dropped to 9275 and created a diff opportunity of 5131 where I got on.
These are good examples of patience and judgement as well as how futures can be beneficial as well as not !
Regards
Hugo
Hi Robber,
It sounds like your using the CFD account on Deal4Free. CFD account expresses the currency of the market your trading:
dollars for DOW and pounds for FTSE.
If you use Deal4Free spreadbetting account all quotes are in pounds per point (well mine is anyway regardless of market)
I only jumped in cos I just wanted to ask Hugo if he recomends using the CFD's for his trades since we would unfortunately pay interest on these trades.
I think Spreadbetting on these trades is the way forward. Am I right?
Tricky
It sounds like your using the CFD account on Deal4Free. CFD account expresses the currency of the market your trading:
dollars for DOW and pounds for FTSE.
If you use Deal4Free spreadbetting account all quotes are in pounds per point (well mine is anyway regardless of market)
I only jumped in cos I just wanted to ask Hugo if he recomends using the CFD's for his trades since we would unfortunately pay interest on these trades.
I think Spreadbetting on these trades is the way forward. Am I right?
Tricky
Hi Tricky , yes you are right my a/c is a CFD one. The only reason Ive not changed to a CMC S/B is one of lazyness but will do smartish if I ever get close to the CGT limit. My question was really to get confirmation from Hugo that he trades equal £s per point against each other on the two indices which you seem to have answered. I hadnt realised that CFDs and SB accounts differed in that way.
thanks
Neil
thanks
Neil
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