London Stone Trading

iamnev said:
Though you can do it if you want to trade two accounts or more, like other professional traders. I'd imagine Mr. Soros would have an account which allowed him to trade his family fortunes. Though maybe not with FXCM specifically.

I couldn't do it after all. London Stone Trading has a better deal than my personal account as there rates are lower than the average man can get, due to the amount of money they trade daily. My personal account was no match, literally. They couldn't allow me to trade this way, so I am trading them seperately.
As an aside, I have turned off the hedging function on my personal account and will hopefully be trading it through the StrategyTrader software from FXCM when I can automate my trading style. This is for the future mind as it needs a bit of forward testing.

Trading Trends

:smart:
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Here's something for you. You paid £3500 and you now have a £1400 account. Given your 50:50 split you will have to increase your account to £7000 to break even.

That's a 500% increase in account size to break even.
 
Mr pboyles, pboyles by name pee boils by nature.

I've just had a quick look through your legendary posting history. Your posts all have a similar tone. You're definitly a sceptical, glass half empty guy.

I can see that people new to trading like myself need to be warned of the scammers but , come on, not everyone should be tarred with the same brush. And unless you have actual proof that they are a scam I don't think it's wise to insinuate that it is. Surely legit business with £m could take you to the cleaners for defamation?

For instance what proof do you actual have that leads you to the conclusion that being a prop trader with London Stone Trading is in anyway a bad thing.
My blog for those considering going with LST but need more evidence is Trading Trends if it turns out to be a horrible joke on me you can read how and when it happened as it happens. For now I am happy that it is a good move.
 
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iamnev said:
Mr pboyles, pboyles by name pee boils by nature.

I've just had a quick look through your legendary posting history. Your posts all have a similar tone. You're definitly a sceptical, glass half empty guy.

I can see that people new to trading like myself need to be warned of the scammers but , come on, not everyone should be tarred with the same brush. And unless you have actual proof that they are a scam I don't think it's wise to insinuate that it is. Surely legit business with £m could take you to the cleaners for defamation?

For instance what proof do you actual have that leads you to the conclusion that being a prop trader with London Stone Trading is in anyway a bad thing..

My blog for those considering going with LST but need more evidence is Trading Trends if it turns out to be a horrible joke on me you can read how and when it happened as it happens. For now I am happy that it is a good move.
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Nev

Think about this, what percentage profit have you made so far? At that rate how long will it be before you've made 500% and broken even?
 
iamnev said:
Ha,
Silly me, didn't realise I was trading my own money. What a fool I am. !

I have traded my money before and I have lost it. It's not the picking of trades that I found difficult it was the money management.

I've read books and I have been through the internet and yet the money management alluded me. I could have written a trading plan but who would have looked through it for me and given me advice..?

Since joining London Stone Trading , I have become more proficient at money management, I have written my trading plan, I have had advice and criticism, though more encouraging advice than out right criticism. I have been invited to meet these professional traders at their trading room , face to face. How many of you trading guru's have been able to face to face offer me advice and show me the ropes?

How many of you can invite me over to Bloomberg on an evening to see how they do their business? A professional trading firm wouldn't necessarily be able to gain you access into other businesses but I and others have been invited out on a field trip of sorts.

I find it hard to believe any of you doubters have any real experience of trading with London Stone Trading, yet you are very quick to criticise and bad mouth them.

Follow my blog, Trading Trends , if they give me back my full training fee £3.5k and more , what have I lost ? Nothing
If it takes a year to get that money back into my account then so be it. I know that in a years time I'll be a more proficient trader. If I don't get my money back, I will have learnt a lot of lessons about how to trade but more to the point how not to lose money.
The risk reward ratio of handing over £3.5k to probably being a £100k trader in the future is ??? Worth the risk, me thinks.

However, London Stone Trading doesn't make money on training people. Well not enough to set up a pension fund for all involved I am sure. All of their literature states that they take a commission of your profits. So it is in their interest to make me PROFITABLE! Something that has not happened since trying to trade my own money let alone theirs, yet.

I very much doubt they would want me to be trading a £1500 account for very long as they would be making about £60 a month if I keep to my goal of a 1% - 2% return each month. So I can envisage a time that I have a £5k account or maybe a £20k account entrusted to me, so that their cut is greater. They are not going to give me that in the first month, probably not the first three months. So in the mean time i just have to trade , with consistency and preferably that means profitably.

All of this will unfold on my blog, which you are all welcome to subscribe too. If it goes wrong, you'd be the first to know. If it pans out like I suspect, you'll see how I did it.
Trading Trends

Good luck all and to anyone new to trading, make sure you do your own research and don't trust anything you read on these BB's. Most traders blow their accounts and it leaves a bitter taste, as does not doing research into prop trading companies and courses.
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Your spread betting on fxcm ..enough said !
 
last post for the day.

They are teaching me a life skill. Away to make money from the markets, rather than giving the markets my money. My goal is to be trading an account bigger than £100k

just because I have started on £1400 doesn't mean that I can risk less than 2% a day, 2% a trade etc. If i had an 80% success rate on all of my trades and I traded 2% each time. The 500% you talk of will be cut into pretty quickly.

Until I see what sort of increae in balance I get I think this part of the conversation is at an end.

The only thing that is factual is that yes, i am a prop trader, I have a starting balance of £1400 and to break even I need to increase my balance to £7000 , hand over £3.5k to LST and see where I go from there.

Though i have a sneaky feeling i'll have more chance of doing £3.5k a day with them than listening to you .
 
iamnev said:
last post for the day.

They are teaching me a life skill. Away to make money from the markets, rather than giving the markets my money. My goal is to be trading an account bigger than £100k

just because I have started on £1400 doesn't mean that I can risk less than 2% a day, 2% a trade etc. If i had an 80% success rate on all of my trades and I traded 2% each time. The 500% you talk of will be cut into pretty quickly.

Until I see what sort of increae in balance I get I think this part of the conversation is at an end.

The only thing that is factual is that yes, i am a prop trader, I have a starting balance of £1400 and to break even I need to increase my balance to £7000 , hand over £3.5k to LST and see where I go from there.

Though i have a sneaky feeling i'll have more chance of doing £3.5k a day with them than listening to you .
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They are teaching you nonsense, you were spread betting and didn't even know it, you describe a point in the Dow as a pip and you think there will be no problem making 500%.
 
they don't write my blog, i do.
they wouldn't call a point on the Dow a pip, that was me. My bad.
I think the real story there was that I made 163 points, at £1 a point that would have been an okay trade for me. If I had as much real money in my account as the demo account I would have actually done £10 a point. That £3.5k soon goes down when you are making £1630 a trade, if you look closely I also did the same on the SPX in the same sessions. That would have been in reality £180 as I would have probably traded £1 a point, though in the demo account I traded £10 a point as my account balance allowed for it. That would have been £1800 on one trade. A total of £3430
This isn't a one off, they have taught me how to trade several ways over all currency pairs where the possibilities of making 100 pips /points are easily done. So when my account is big enough to trade £10 a point I guarentee you I will, and I will be malking that 500% over and over again.
How much do you make on a trade? DO you actually trade or do you just sit on Trade2Win spreading doom and gloom?
 
iamnev said:
they don't write my blog, i do.
they wouldn't call a point on the Dow a pip, that was me. My bad.
I think the real story there was that I made 163 points, at £1 a point that would have been an okay trade for me. If I had as much real money in my account as the demo account I would have actually done £10 a point. That £3.5k soon goes down when you are making £1630 a trade, if you look closely I also did the same on the SPX in the same sessions. That would have been in reality £180 as I would have probably traded £1 a point, though in the demo account I traded £10 a point as my account balance allowed for it. That would have been £1800 on one trade. A total of £3430
This isn't a one off, they have taught me how to trade several ways over all currency pairs where the possibilities of making 100 pips /points are easily done. So when my account is big enough to trade £10 a point I guarentee you I will, and I will be malking that 500% over and over again.
How much do you make on a trade? DO you actually trade or do you just sit on Trade2Win spreading doom and gloom?
Click to expand...

Maybe you should stop before you make a complete fool of London Stone and their 'training'.
 
iamnev said:
last post for the day.

They are teaching me a life skill. Away to make money from the markets, rather than giving the markets my money. My goal is to be trading an account bigger than £100k

just because I have started on £1400 doesn't mean that I can risk less than 2% a day, 2% a trade etc. If i had an 80% success rate on all of my trades and I traded 2% each time. The 500% you talk of will be cut into pretty quickly.

Until I see what sort of increae in balance I get I think this part of the conversation is at an end.

The only thing that is factual is that yes, i am a prop trader, I have a starting balance of £1400 and to break even I need to increase my balance to £7000 , hand over £3.5k to LST and see where I go from there.

Though i have a sneaky feeling i'll have more chance of doing £3.5k a day with them than listening to you .
Click to expand...

A decent prop firm would start you on a 10k account, how are you meant to make a living with such a small account size with a daily stop limit and such like, its not adding up my friend..but good luck!!!
 
ha that's funny. now you're worried about the rep of their training. how things have changed over the last two hours!
Trading Trends converts even the most sceptical of T2W posters. Learn how to make 100's of pips as I do. Though please excuse my ignorance when it comes to words like pips , points and price. It's the account balance that matters at the end of the day!
 
iamnev said:
ha that's funny. now you're worried about the rep of their training. how things have changed over the last two hours!
Trading Trends converts even the most sceptical of T2W posters. Learn how to make 100's of pips as I do. Though please excuse my ignorance when it comes to words like pips , points and price. It's the account balance that matters at the end of the day!
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Though £2 is £2 and takes me up to £1442.31 or +2.3%

Only another 497.3% to breakeven,
 
iamnev said:
It's the account balance that matters at the end of the day!
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On a serious note, I would be concerned if you are being led to believe from your training that returns of 500% over short periods of time are possible and sustainable.
 
iamnev said:
That £3.5k soon goes down when you are making £1630 a trade, if you look closely I also did the same on the SPX in the same sessions. That would have been in reality £180 as I would have probably traded £1 a point, though in the demo account I traded £10 a point as my account balance allowed for it. That would have been £1800 on one trade. A total of £3430
?
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Well it seems he thinks its no problem.
 
Jeeze this has turned into a bit of a cat fight since I left!

I think the main point of prop trading is to gain access to larger funds than one can normally get, so I think the test will be in a month or few weeks to see if London Stone have given iamnev any more mulla.

Obviously their teaching is around low risk trading, so need some pennies in your account to make it work.
 
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