One year officialy day trading

D70

Established member
839 195
What happened to the guy who started this thread?
Ow yeah, that's right, he's seen the last 18 pages of tit for tat and left.

Anyway.

This whole spreadbetting argument, cant we just leave it as this:

You start out with a spreadbetting company and 'cut your teeth'. Once you get 'too big' for the spreadbetting company, you then move to a 'proper' broker (if you feel the need).

It's just like the rest of life. You start in 'carts' and end up in F1. You start in Sunday League and end up 'Premier'.

I dont see the need to argue about it for 18 pages. Do you?
 

kwickwool

Well-known member
291 30
What happened to the guy who started this thread?
Ow yeah, that's right, he's seen the last 18 pages of tit for tat and left.

Anyway.

This whole spreadbetting argument, cant we just leave it as this:

You start out with a spreadbetting company and 'cut your teeth'. Once you get 'too big' for the spreadbetting company, you then move to a 'proper' broker (if you feel the need).

It's just like the rest of life. You start in 'carts' and end up in F1. You start in Sunday League and end up 'Premier'.

I dont see the need to argue about it for 18 pages. Do you?

Yep, think this thread is about done and summed up pretty well there. SB's have their place in the trading world for the newbie and at best seasoned trader, but not the professional and that is not for debate but fact.

Merry christmas all, happy new year for tuesady, been an interesting debate if not repeating old ground a bit, and good luck with the trading.
 

new_trader

Legendary member
6,665 1,489
What happened to the guy who started this thread?
Ow yeah, that's right, he's seen the last 18 pages of tit for tat and left.

Anyway.

This whole spreadbetting argument, cant we just leave it as this:

You start out with a spreadbetting company and 'cut your teeth'. Once you get 'too big' for the spreadbetting company, you then move to a 'proper' broker (if you feel the need).

It's just like the rest of life. You start in 'carts' and end up in F1. You start in Sunday League and end up 'Premier'.

I dont see the need to argue about it for 18 pages. Do you?

My summary:

If you are convinced that the barrier between you and profitability is the shenanigans of Spread-betting companies then either go DMA or suck it up and stop your stupid, irritating, dumbass whinging.



Happy New Year to almost everyone.
 

Vasco da Banana

Established member
699 121
So the gist of it izzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
 
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random12345

Established member
793 280
Bucketshops shadow the real market. Other than within their own imaginary market where the push of a button can cause a huge spike, I don't see how they can affect the real market. To cause a similar spike in the real market will take an amount of money that would be beyond their means.

Bucketshops maybe kings for the retail Joes. But if they try their luck in the real market, they'd get kicked in the balls by the big boys.

Enjoyed the comedy value in this thread.

However, I'm confused, are you saying that Bucketshops should actively trade the market as a fund or provide a DMA model instead? How would they get kicked in the balls either way? Which big boys are you referring to? Banks defending Fiat money models? Knight Capital...? Whom? I want to put some of my money with them.

Anyone who believes in the infallibility of the market and thus its largest participants worry me since it's counter intuitive to the whole 'game'. Send some of your money to a GS Asia growth fund BJ. They drew down 18% on my managed brokerage account in 2011, but I dunno why cause they move the markets and know how everything works. Musta been a fat finger issue!
 

robalocc

Newbie
9 7
Hello everyone...Wanted to check in, I am officialy becoming a full time trader beginning in December, p/l for the year is + $ 178,329.63, I am not posting this to brag...far from it, just posting this to prove it can be done ! I use to love reading success stories when I was blowing my accounts left and right..It gave me hope and reason to keep working hard at it, I just hope this will do the same to any newbies out there. I am seriously thinking about posting my targets daily on here while trading live... if anyone would be interested in viewing...wish I had that in the beginning.
 

timsk

Legendary member
7,604 2,377
Hi robalocc,
p/l for the year is + $ 178,329.63, I am not posting this to brag...far from it, just posting this to prove it can be done!
This is an impressively large figure alright, but it's rather meaningless without knowing the starting balance and the trading period that it represents. For example, if it represents one month's trading and your starting balance was a cool million - then the result ain't so special!
;)

I am seriously thinking about posting my targets daily on here while trading live... if anyone would be interested in viewing...wish I had that in the beginning.
That sounds great - how about starting a journal and outlining in the opening post what your basic game plan is and what tools of the trade you'll be using etc. For more info on journals, check out this sticky: Essentials Of 'Trading Journals'

Best of luck when you go full time.
Tim.
 

robalocc

Newbie
9 7
Hi robalocc,

This is an impressively large figure alright, but it's rather meaningless without knowing the starting balance and the trading period that it represents. For example, if it represents one month's trading and your starting balance was a cool million - then the result ain't so special!
;)


That sounds great - how about starting a journal and outlining in the opening post what your basic game plan is and what tools of the trade you'll be using etc. For more info on journals, check out this sticky: Essentials Of 'Trading Journals'

Best of luck when you go full time.
Tim.

very valid point! My account starting January is $27,800, I will look into the journal link...Thank you!
 
L

Liquid validity

0 0
I am a chef, and a good chef if I may say so, I was offered a job on a cruise line making 6 times the money I was making in Greece. I had saved 65 thosand u.s Dollars in 2 years, and decided to daytrade part time as my job was too important to be staying up all night and day trading and studying. I opened an account again worth 5,000 u.s dollars, after trading for 2 years my money became 43 thousand.. I asked to take a leave from my job for 1 year and they allowed me, and have a contract stating I can start my work after the 52 week period. During this past year is when I was daytrading for a living. I was 13 thousand shy of my regular pay, but I will admit the hours were the same if not more daytrading... But I enjoy it much more, and I am my own boss.

From your post I assumed your starting balance for full time trading was 103k.
65k -5k to fund acc. margin, turns into 43k + 60k = 103k?

Or was the 60k living expenses, and you turned the 5k margin into 178k?
103k to 178k seems perfectly reasonable and doable with control.
Out of interest, what was your max drawdown during the year?
 

timsk

Legendary member
7,604 2,377
very valid point! My account starting January is $27,800, I will look into the journal link...Thank you!
Hi robalocc,
I haven't worked out the exact figure, but I reckon that's a return on your capital of around 640% in 7 months or so. That's an extraordinary result if - and this is a big if - you've done it without taking excessive risks along the way and incurring potentially crippling drawdowns. If you have, I expect you'll be managing a Hedge Fund soon and we'll all be reading about you in the financial press.

A journal on T2W would be an excellent stepping stone!
Tim.
 

robalocc

Newbie
9 7
Hi robalocc,
I haven't worked out the exact figure, but I reckon that's a return on your capital of around 640% in 7 months or so. That's an extraordinary result if - and this is a big if - you've done it without taking excessive risks along the way and incurring potentially crippling drawdowns. If you have, I expect you'll be managing a Hedge Fund soon and we'll all be reading about you in the financial press.

A journal on T2W would be an excellent stepping stone!
Tim.[/QUOTE

I know better than to judge my performance after 7 months, yes I am very happy and excited! That in itself worries me a bit, and I go thru psych checklists before I start trading, I find myself overconfident at times lately, and if I don't put a huge brake on that, I know it will destroy me in the long haul....That is my biggest opstacle right now! I am working very hard trying to keep things in check..........Today for instance the mini dow opened and saw a 40 point drop instantly, I sold 8 contracts and rode the wave for another 30 points , I got out but left lots of money on the table to be made,I should of saw the support level on the 1 hour chart, On the reverse side,I waited and bought 12 contracts(house money) off the double bounce,rode that for 22 points and got out at my first resistance,if I stayed in the trade I would of had another 80 or so points (pigs get slaughtered : ) My day is over.....a couple of years ago I would definitely try and find bottom where now I go with the flow, the market dictates me, not me it... The biggest difference in my trading style now is that its just "simple" I use to have so many indicators I thought I was trying to fly a plane..... made things so confusing, now I keep it simple and feel so much more comfortable.

Tim thank you for your encouragement... Funny thing is I applied @ a trading company in Boston Ma. They said I wasn't qualified, they showed me indicators and what not that I have never seen ! I think my comfort zone is solo : )

2:28 bought 12 contracts 1546 rite at my support line, getting out if it goes down to 1541...just got stopped out.. now really done for the day : )
 
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