New Trades Thread

[itspossible]

Can you explain the part in blue further? What are you referring to?

Yes but its about 16yrs since i traded stocks.
Marks and Spencer Group Plc
LON: MKS - 7 Jan 16:54 GMT
439.44.
Ill use m&s as an example.
you could buy 1000 shares of m and s at $4.39 which is a 4k trade.
you never intended to buy outright and pay the 4k.You had 2 weeks to settle the transaction and pay the 4k.After say 4 days m and s rose to 4.80 you would just sell your shares and receive the profit.
People just buy or sell using cfds now.

 

[hhiusa]

Yes but its about 16yrs since i traded stocks.
Marks and Spencer Group Plc
LON: MKS - 7 Jan 16:54 GMT
439.44.
Ill use m&s as an example.
you could buy 1000 shares of m and s at $4.39 which is a 4k trade.
you never intended to buy outright and pay the 4k.You had 2 weeks to settle the transaction and pay the 4k.After say 4 days m and s rose to 4.80 you would just sell your shares and receive the profit.
People just buy or sell using cfds now.

Well Americans don't trade CFDs. To my knowledge they are illegal here even though foreigners can take part in them. If you never intended to pay the $4000 why would you buy $4000 worth of a financial instrument? Since I have the physical liquidity to buy it, I do. There is a no two ways about it. Either you could not afford to buy the $4k worth of the stock as the CFD allows you to margin and you should not have bought that much or you actually have the $4K at which point you would just buy the stock physically and cash out $800 of profit anyway. All that you have shown me is that CFDs are for thin cap accounts. They are credit cards for the stock market.

 

[itspossible]

At the time of trading my account was £20k.
I never wanted to hold anything.Just wanted a quick profit.
After a yr or so of trading stocks and losing 5k i started spreadbetting the dow and ftse.

 

[hhiusa]

At the time of trading my account was £20k.
I never wanted to hold anything.Just wanted a quick profit.
After a yr or so of trading stocks and losing 5k i started spreadbetting the dow and ftse.

Hey if it works for you, fine. I was only stating a simple fact that I gleaned from your post. I do not trade CFDs so I am limited on my knowledge in that arena; however, if you have £4,000 pounds to open a trade on the equity, why buy the CFDs? The CFD maps its underlying asset. If the stock goes up to £4.80, the CFD will go up as well. Whether you purchase the CFD or the equity, you net £800. Why do you need the CFD, if you can front £4,000 and you are not thinly capped?

 

[Lúidín]

Hes a question that no one answers except me.
How long have you been trading and what were your profits or losses each yr.
thats a starter lol.
My biggest loss was 6k over a few days many yrs ago-i would never go that deep again and my fiendish plan now is to make about 10-20 quid for half an hours work on the markets per day.i retired very young and have a nice lump sum and a pension-im not risking that bugger.so im looking at trading to keep my wife in costa coffees

it will all depend on what you are trying to achieve..and how much time you have set yourself to achieve it

i started in 1999..i had some money..so i decided i wanted to learn..not make money..profits were not my goal..learning the best ways were

at first i was very interested in daytrading..and being a thick paddy i had difficulty identifying the bid from the ask..FECK

results all over the place..make $500..lose it back..the cycle continued..but never really lost..held my own

i tried everything..futures..options..commodities..fx..everything except bonds..wasted loads of money on books..courses..trading rooms..

now that i was an expert..lol..i decided to join some forums..and..round 2006 i think..i met SOCRATES and The Bull on t2w..

everyone was ganging up on them..which i don't like..so i openingly backed SOCRATES..and what followed was The Bull showing me his option trading method on the ftse 100..

i traded away..made 85 trades without 1 loser..but..the thick paddy in me came out again..i was not happy with over 25k sterling profit..i now wanted 50k..so i started to increase my lots..not listening to The Bulls warning bout overtrading

wham..2007 slide..and me caught with a **** load of sold puts..needless to say i panicked..another mistake..resulting in me losing 17k sterling in one day

did i learn a lesson..you can bet your life i did..one i will never forget..

that shook me for about 2 months..then i went back..traded small size and made modest returns per 6 months..nothing to retire on..but nuf to keep me interested..and learning

i met one other..whom i will not mention..and he put it all in perspective for me..so that i finaly saw what i should be doing..and not what i wanted to do

i reverted to what i liked best..daytrading the us open..and.have since developed my own method..which is a combinatio of all i had learned..but with the correct way of thinking..as..most of what is shown is crap..and does nothing but stop you from doing what you need to do

trading is the easy part..your head is your biggest enemy..so without your head in the right place..as we say in paddy land..you might as well be ****.ing against the wind

 

[hhiusa]

I am out and about and I just asked these Irish ladies at starbucks what a thick paddy was. They gave me a good explanation. I also asked them what a Walter Mitty was. We talked about Ireland being in the UK. They said "unfortunately it is in the UK...for now."

 

[Lúidín]

seen as you have started me off..as i am normally very shy..:cheesy:..i can honestly say i know as much as there is to know about daytrading as most out there..i have studied it..done it..tweeked it..done it again..tweeked it..for years..and after all that time..and money..bout 80% of it is nothing more than silly..idiotic..information..that is repeated over and over in textbooks..courses..seminars..trading rooms..pdfs..websites..you name it..mostly horsesh.it

if you think a moving average..or keltner band..or market profile..or even vsa..yes..SOCRATES old favourite..are going to help you take some money from those with deep pockets..then..i have to tell you..you are a thick idiot who have been hoodwinked by the minority..for..why do you think history keeps repeating itself..it is not by chance..as there is no such thing..as..everthing happens for a reason..including market movements

to see what you must see..you must first open your mind..only then will the eyes allow you see the reality..which is far from what you think it is!

oh yeh..pity i wasn't thinking right yesterday

 

[Lúidín]

I am out and about and I just asked these Irish ladies at starbucks what a thick paddy was. They gave me a good explanation. I also asked them what a Walter Mitty was. We talked about Ireland being in the UK. They said "unfortunately it is in the UK...for now."

well its not actually..but we would be probably be better off..we have a thick muck savage as our head of government..a real muppet..and he pays himself more than the president of the usa

wtf..where else would you see it..do you niw see why they call us thick paddys..because we are..letting the gob****.es ride us bareback every day..bunch of fu.k.in
lying thieving bas.t ards..the whole lot of them..NO EXCEPTIONS

we were warned in 1580..and it will still be the same 2580..not one little bit of difference!

 

[hhiusa]

well its not actually..but we would be probably be better off..we have a thick muck savage as our head of government..a real muppet..and he pays himself more than the president of the usa

wtf..where else would you see it..do you niw see why they call us thick paddys..because we are..letting the gob****.es ride us bareback every day..bunch of fu.k.in
lying thieving bas.t ards..the whole lot of them..NO EXCEPTIONS

we were warned in 1580..and it will still be the same 2580..not one little bit of difference!

That is news to me. I thought Northern Ireland was a part of the UK.

I think @itspossible has left the thread. Would try to answer this for me in his stead.

I was only stating a simple fact that I gleaned from your post. I do not trade CFDs so I am limited on my knowledge in that arena; however, if you have £4,000 pounds to open a trade on the equity, why buy the CFDs? The CFD maps its underlying asset. If the stock goes up to £4.80, the CFD will go up as well. Whether you purchase the CFD or the equity, you net £800. Why do you need the CFD, if you can front £4,000 and you are not thinly capped?

 

[itspossible]

^I have a daytraders mindset and do not want to hold overnight etc if im in deep.So i dont want to keep if you get me.I have held shares in a portfolio before but just in small amounts.But if you are going in deep and punting 5 to 15 k daytrding you dont want to be holding in my humble opinion.This is because you can get badly hurt.

 

[Lúidín]

That is news to me. I thought Northern Ireland was a part of the UK.

I think @itspossible has left the thread. Would try to answer this for me in his stead.

northern ireland is under uk government..but is part of ireland..long story..goes back to when england tried to take over the world..colonialism..but that is the past..the minority had far greater power then than they have now..butr that is a history lesson in itself

cfds..as far as i remember..can be purchased for 1/5 of the stock price..and are what sean quinn used to try and take over anglo irish bank..which he was hoodwinked into by more clever lying bast.ards..they are all in the same click you see..

leverage is ok once you use it correctly..like i mentioned bout daytrading..it allows you daytrade the highly priced stocks..which are the best for daytrading..but a you are not holding overnight..and you set your max risk per trade to x% of actual trading capital..not leveraged value..then you are EH OK..you are being clever in this instance..not stupid like sean quinn and his 4billion euro loss!

 

[hhiusa]

^I have a daytraders mindset and do not want to hold overnight etc if im in deep.So i dont want to keep if you get me.I have held shares in a portfolio before but just in small amounts.But if you are going in deep and punting 5 to 15 k daytrding you dont want to be holding in my humble opinion.This is because you can get badly hurt.

Please do not make this like pulling teeth. We may just be miscommunicating. Regardless of the daytrader mindset the part in blue, while informative, does not answer the question. The CFD will map the equity. It is a derivative product. This is my understanding anyway. If the MKS goes up to £4.80 and you have 1,000 shares either through a CFD or physically held, you reap the £0.80/share profit. If the CFD goes down, the same happens. Why do you buy the CFD instead of the equity if you have the cash?

I am unclear upon the advantages. I know that you do not have to put the entire amount, which to me seems pointless. If I can cover the cost of the trade, what does that matter?

 

[hhiusa]

cfds..as far as i remember..can be purchased for 1/5 of the stock price..and are what sean quinn used to try and take over anglo irish bank..which he was hoodwinked into by more clever lying bast.ards..they are all in the same click you see..

What would it matter if it is 1/5 or 1/50? Either you can afford the cost of the trade or you cannot. Buying at 1/5 of the stock price is leveraging. I am still unclear why you would need to leverage if you have the capital.

 

[Erasmus]

Why do you buy the CFD instead of the equity if you have the cash?

I am unclear upon the advantages. I know that you do not have to put the entire amount, which to me seems pointless. If I can cover the cost of the trade, what does that matter?

Because in the UK (and some other equity markets) you save yourself the 0.5% stamp duty that is payable on all buy orders of the underlying. If you're daytrading, that's quite significant, if investing less so. They're used by institutions / hedge funds for that reason, it's not just retail punters.

 

[itspossible]

Please do not make this like pulling teeth. We may just be miscommunicating. Regardless of the daytrader mindset the part in blue, while informative, does not answer the question. The CFD will map the equity. It is a derivative product. This is my understanding anyway. If the MKS goes up to £4.80 and you have 1,000 shares either through a CFD or physically held, you reap the £0.80/share profit. If the CFD goes down, the same happens. Why do you buy the CFD instead of the equity if you have the cash?

I am unclear upon the advantages. I know that you do not have to put the entire amount, which to me seems pointless. If I can cover the cost of the trade, what does that matter?

Initially I used to buy shares through a broker.You could make a transaction and had 14 days to settle the contract-i sold before i had to pay the full amount.
After a number of yrs i switched to c.m.c and traded cfds as you could short stocks and indices.So you were not tied to the buy side

 

[itspossible]

What would it matter if it is 1/5 or 1/50? Either you can afford the cost of the trade or you cannot. Buying at 1/5 of the stock price is leveraging. I am still unclear why you would need to leverage if you have the capital.

If using a broker after 14 days i would be obliged to own the stock say at 4k.
I never wanted to hold anything for more than a day so i would never buy outright.

 

[itspossible]

Lúidín-I think a lot of experienced traders will agree with you.
1-You eventually find your OWN method
2-You make money and want more -You then move away from your comfort zone and lose.
What happened to the other guys you mentioned.

 

[Lúidín]

i have a question and was wondering what answer people might give

if someone said to you..that..they could show you how to daytrade one single stock effectively..every day..and it would take no more than 5 minutes to show you what to do..and you need no experience with trading what so ever..in fact..you are much better off if you have no experience

what would you say?

 

[itspossible]

^i would ask what was the worst that could happen-what would be your max loss.
Re no experience-i would say that you needed some rules-eg no overnight holds and to know about gaps and stocks being suspended etc.

 

[Lúidín]

Lúidín-I think a lot of experienced traders will agree with you.
1-You eventually find your OWN method
2-You make money and want more -You then move away from your comfort zone and lose.
What happened to the other guys you mentioned.

i kept in touch with the one i will not name..traded with him for a good while..this is how i know that what he knew was not common knowledge..and never will be

many think i jest..i do not..i have no reason to

again..if your head is not right you are at nothing..effective trading is not 90% mental..it is 99.999% mental..the act of buying and selling is by far the easy bit..the hard part is getting in the right state of mind..and staying there..for..everyday life..such as family..socializing..etc..affects your way of thinking

this is life..nothing one can do about it..just keep trying until you get it right..which of course is much easier said than done!