spanish89...

on any spanish89 discussion threads would you like to -

  • close all threads and bin any new threads started

    Votes: 10 12.7%
  • leave them open

    Votes: 29 36.7%
  • couldn't care less

    Votes: 40 50.6%

  • Total voters
    79
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north5

Active member
Jun 28, 2008
262
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#22
Sorry, but if he still trades with the same approach to stops he did previously then he will inevitably wipe out his account. It will only take one bad trade to bring all his good work down. Unless he has changed that I'm afraid I am still of the opinion that it is only a matter of time.
 

shadowninja

Well-known member
Jul 22, 2007
5,524
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#23
So, what we'll see is Spanish make £100k by the time he's 19, lose the lot and make a killing running online seminars with fake voices?

What I find a bit odd is that he wants it all now, very impatient person, and yet he's still only risking about £2 per point.
 
Jul 28, 2008
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#24
original method

Ah! Funny you should mention this because I was going to add that as a caveat! I agree, if you were doing EXACTLY the wrong thing at EXACTLY the right time, every time, then yes, doing the opposite works. But, as you rightly say, those that sometimes get it right but don't know why just simply cannot do the opposite. Like I said, the connection between "right" and "wrong" must be made before doing the opposite will help. Trading, being a game of strategy, it is impossible define the opposite other than with Buy or Sell. What is the opposite of entering too early? Is it entering too late? In which case doing the opposite won’t really help will it? It's more of a Goldilocks situation where you have to get things just right!
good post"s nt

not your shift tonight ? :)

this post again

might help some with the ...........what"s happening bit :eek::mad:

when they get their well thought out original method up and running with their 1st account

by Steve Spray :idea:

A simple experiment might help me make my point. Next time anyone gets the ‘urge’ to take a position in the market just stop for a moment. Bring up a chart or two of the relevant instrument. Now place yourself in two scenarios and answer the following two questions;
1 ) Imagine that you have recently gone long in this instrument – where would you place your stop?

2 ) Imagine that you have recently gone short in this instrument – where would you place your stop?
Once you have identified the two stop areas you have identified an area where taking a trade is of much lower risk. It is of lower risk because you have found an area where temporary price deflection is likely to occur. In those areas the 95% are flushed out of their positions purely due to price – this is where you can step in. Obviously, if you have supporting volume as well then you are more than likely onto a good thing.

By Steve
 
Likes: GCC and nine

RedGreenBen

Active member
Nov 17, 2007
268
52
38
#25
Ah! Funny you should mention this because I was going to add that as a caveat! I agree, if you were doing EXACTLY the wrong thing at EXACTLY the right time, every time, then yes, doing the opposite works. But, as you rightly say, those that sometimes get it right but don't know why just simply cannot do the opposite.
Agreed, I think. It's about taking the exact opposite trades, not trading in the opposite way. If you don't have a strategy then the former is impossible.

This is actually a very subtle and interesting topic (which I have no doubt only confused!).

Ben

PS So if anyone has a mechanical, ideally automated, system that is consistently losing them money across a range of market conditions then just send me your code and I'll do the 'search and replace' and make us both a fortune!
 

trader_dante

Well-known member
Aug 18, 2005
4,535
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#26
So, what we'll see is Spanish make £100k by the time he's 19, lose the lot and make a killing running online seminars with fake voices?

What I find a bit odd is that he wants it all now, very impatient person, and yet he's still only risking about £2 per point.
I don't really for a minute believe that this is the case with Spanish but the possibility is there that a professional or at least an extremely accomplished trader could be "yanking our chains" by acting like an amateur...maybe because they are bored in between trades and get a thrill out of winding people up. I know someone that posted on a board a while back that had an excellent system making consistent returns but he gave ridiculous reasons for trades just to wind people up, saying things like: "just bought BT shares because I use the phone a lot and think others are bound to use the phone, even in an economic slowdown..." etc etc. The guy was winding traders up chronically who kept saying "this won't work - you need to have a better reason than that" etc and all the while calling it "luck" when his trades kept hitting the mark... :)
 

shadowninja

Well-known member
Jul 22, 2007
5,524
641
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#28
I don't really for a minute believe that this is the case with Spanish but the possibility is there that a professional or at least an extremely accomplished trader could be "yanking our chains" by acting like an amateur...maybe because they are bored in between trades and get a thrill out of winding people up. I know someone that posted on a board a while back that had an excellent system making consistent returns but he gave ridiculous reasons for trades just to wind people up, saying things like: "just bought BT shares because I use the phone a lot and think others are bound to use the phone, even in an economic slowdown..." etc etc. The guy was winding traders up chronically who kept saying "this won't work - you need to have a better reason than that" etc and all the while calling it "luck" when his trades kept hitting the mark... :)
I didn't mean that...
 

Grey1

Well-known member
Jun 11, 2002
2,185
175
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#29
Trading is a statistical game and WIN or LOSS has zero meaning in short term,,.. SO even if he hit buy instead of sell he would not know that he is losing/ winning until a year on ,, Monte carlo simulation would reveal a lot of facts in game theory .

Grey1
 

keano

Active member
Sep 15, 2003
327
30
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#30
One thing I will say is that I believe 'part' of spanish's success is down to the posts of a trader who goes by the handle 'AMT4SWA'.

from this guys realtime calls and posted account statements he is a VERY good trader, and I see spanish is asking for his view on the oil market at least a few times a week.....
 
Jul 28, 2008
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#32
Turkey Winds up then

lets see what happens when things go back to 'normal' conditions.
Good post options


Sure many new traders can not believe their skill levels

trade after trade :clap:........:clap:.............:clap:...........:clap:..........:clap:....:p

in the results / records I hope they are keeping them :?: could be lurking the beast that will kill their account

running a loser, not really running a winner etc etc these volty conditions will save as many as it kills

sure there are many in the last few months who are / were gripped in fear looking at awful open PL ..........just sat there doing nothing in total freeze ....

Only to watch price reverse on a sixpence and put them back in the money and another winner


Returned to their pc to eventually close out that loser after just going for a cup of tea or a quick walk to give it one more chance etc etc etc etc etc etc :)

:idea: Thats it .........Wot are these guys on the board on about ......its eazzzzzy peezzzzy ..........I am a master trader:smart:

all you have to do is bully up and everything will turn out ok

NOT !



Stay safe and learn to control your RISK as per Grey 1 advice and others


Until that day stay lucky and enoy the ride :clover:

but do yourself a favour and keep trade record details of one of the best Turkey Winds to ever blow........ might save your account in the future :idea:

A pure 50 year Storm


Andy
 
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Likes: BSD
Dec 30, 2002
5,741
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#33
Yes

this idea about -

eg. If this is not a valid long setup, as the chances of failure seem high - therefore is it a reason to go short....it certainly gets you thinking.....

A bit like looking at a chart upside down etc.
 
Feb 20, 2008
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#34
The guy is quite obviously a math wizard...

I cant afford to go out spalshing money around.. lol

Especially if oil stays like this its going to be a nightmare to trade!!


Ive worked out my liing costs and i need ultimate MINIMUM of £1,059 per month to live off.


So basically i need MINIMUM £200 per day, each day, just to get by with still alot of worry n concern.
Errr - right....

He's also a contributing member to society...

I have been thinking about claiming housing benefit to ''shore up my income''.

Since well everyone else in the world is 'shoring up their incomes', by basically just gettng given free money by the government to reward them for failing!!

So why shouldnt i get in on this and get myself shoredup.. lol


But if i do start getting housing benefit i will have to somehow manage to prove that i earn less than £450 per month, just to get £400 from them.

And then they will know i exist and so i will have to start paying council tax, and so that will knock £100 extra off my income.
He'll never blow up his account...

GRRRRRRRR!!!!!!!!!!!!!


IM SO FUKED OFF NOW ABOUT THIS STUPID MARKET!!!!!!!!!


ARRRRRGHHHHHHHHH I HATE SCALPING SO SO SO MUCH!!!!!!!!



ITS IMPOSSIBLE TO LET PROFITABLE TRADES RUN FOR LONG WHEN YOUR SCALPING WITH A TIGHT STOPLOSS, AND TRAINDG BOTH DIRECTIONS, SO ALL MY PROFITS ARE SO TINY SINCE I HAVE TO CASH THEM IN SMALL TO BE SAFE!!!!!!!!!


AND THEN AS SOON AS I TAKE THOSE LOSSES THE MARKET ZOOMS BACK UP TO WHAT WOULD HAVE BEEN £100S+ PROFIT!!!!!!!!




THIS HAS HAPPEND ABOUT 9X SO FAR TODAY AND ITS TAKEN ME FROM £120 PROFIT TO NOW BEING NEARLY £50 LOSS FOR THE DAY JUST FOR USING A TIGHT STOPLOSS!!!!!!!!!
But if that happened - he'd have no problem finding a job...

How could you just 'slide into a new job' just like that though??

I remember i applied for about 250 jobs in my life, all just basic shop assisstant or supermarket stuff, yet only ever even got given 1 interview for a warehous guy on weekends in pc world, n didnt even get offered that!!

The only thing i actually was accepted for was hairdresser about 3years ago! lol
Pure 100% entertainment (y)
 

FXSCALPER2

Well-known member
Jan 27, 2006
964
280
73
#37
I reckon there's some legs being pulled here, surely?

Nobody would bare their soul on a Bulletin Board like this would they?

Come on Jtrader - own up - it's you isn't it?;)

UTB

I am sure it is real. He used to spend time with us in a chat room I used to run and that sounds like him.
 

N Rothschild

Well-known member
Oct 13, 2008
5,296
603
173
#40
i recknon its pritty easy to loose money there a plenty of setups you could take which are blatent suicide lol (just opened a 50k demo fx acount for this purpose down 2 20k already!)
 
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