Spreadbetting Update

  • Thread starter Carnivore
  • Start date
  • Watchers 9
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Carnivore

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Hello Fellow Traders,
a long time since I have posted, not for any reason except I have been quite busy. Trading is still going well and the usual suspects (EURUSD, GOLD, SILVER) have helped my account.

Also some more 'exotic' instruments have been good. cocoa, nickel and platinum have all trended nicely recently.

It has been my first year of trading and I must say that I have enjoyed a good year. Yes I have learned a lot of things and have made mistakes but i can honestly see that I could make a living out of this in a few years time as soon as my capital base is big enough.

I am entering the new year as one very happy trader!

Have a great Christmas and best for 2004 (unless I post beforehand)

Carnivore
 
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Carnivore

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Hey BB,

I had this discussion with JonnyT and can only say that my experience has been different to his testing. The only promise that was made to me was that the system was profitable and that the book would help my trading. It has delivered on both counts.

I actually asked JT how he did the backtesting. I cna't pretend to understand but a frind of mine who is a computer programmer said that because of some subjective variables in the system it would be very difficult to backtest accurately.

Anyway, backtesting is backtesting. I am quite happy getting some good results through actual trading. I suppose that is the big difference and why I let people know of how I am progressing.
 

garyp75

Junior member
14 0
Hi Canivore,

Great to here you capping off this thread, I read it with interest a while ago and in fact bought the STS course off your recommendation.

It looks good and your follow-up is encouraging, I plan to start trading it in the new year.

I wonder how many profitable systems are missed out on because of rushed or thin back testing - I always prefer to hear people real stories. ;)

One last question, how many points have you made with the STS system so far this year? Do you follow all the rules stricly or have you adapted you own.

Cheers

Gary
 
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Carnivore

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Hello Again Fellow Traders,

I am pleased to say that I have been trading for nearly a year! Woo Hoo!!

Needless to say that it hasn't all been streets paved with gold during that time but I am actually in a healthy profit position. I really feel that me learning was accelerated by some prudent course purchases and also have been fortunate to have some private tuition by aussietrader - his years of experience have been great.

Having said that, I am slowly developing my own trading methodology to build on what was in the spreadtradingsecrets book. I am spending more time trading because 'I like to do it' so am trying some intra day techniques on forex with very small amounts of money. That has been my biggest lesson - get the money management right and the profits will come eventually.

Anyway, I wanted to revisit this thread and let you all know that things are pretty good - thanks to some good advice early in the piece.
 

PitBull

Established member
620 58
Carnivore

Thanks for giving us an update, glad to see that you are doing well using the STS method. Could I just ask the % return on your start capital and max drawdown in the year.
 
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Carnivore

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Pitbull,

Because I started with not much capital, I have been trading using notional capital and so my returns and drawdowns are larger than normal becasue I trade as if I have three times as much capital as I really do. I hope that makes sense.

Anyway, if I divide my profits and drawdowns by 3 then should be pretty accurate. Basically, I made loads of points very early which was great. But did have a quiet spell and had drawdown of about 15% from my peak profits.
As of today I am up around 60% on my capital (real figures are around 45% drawdown and up 180% on starting capital because use notional).

The best thing is that I have a routine to trade that now takes only thirty minutes per day and I am really relaxed about how I am going. I am steadily increasing my trading capital and hope to eventually 'live the dream' of having loads of spare time.

One of the very valuable things I managed to do was meet the author when he was in Dublin a few weeks ago. He was certainly generous with his time and knowledge and was a gentleman to boot.
 

anley

Senior member
2,730 229
Yes, but what are the SECRETS?

Are these the same kind of secrets that 'the pros don't want you to know" etc?
 

Trader333

Moderator
8,658 984
anley,

Secrets in this context is nothing along the lines of "Hidden away from the world" and is used in my view to attract initial interest only. The manual is well put together and places a very heavy emphasis on money management. A method is used to identify market trends and also identify when the trend is over. For the price it is as good as many publications that cost more that 5 times as much and for a beginner interested in spreadbetting on a position trading basis it is a low risk investment.

Personally I trade intra-day so I dont use the methods but if I were to change to position trading there is a lot in there that I would consider using especially the money management approach.

That said I agree that the authors were not doing themselves any favours by having a website that looked more like something from the camp of VS or DW. Also using the term "secrets" was bound to turn off many people.


Paul
 

JonnyT

Senior member
2,560 22
When I tested the system I wasn't impressed at all.

JonnyT
 
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aussietrader

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Trader 333,

Appreciate the comments. You are right about the website and your wish is my command. Well not exactly but a new website (and version 2004 of the book) will be uploaded later this week. Also interested in your comments on the use of words secrets. A new domain has also been organised - spreadtradingprofits.com - must be something about great minds !!

I for one am pleased that people are getting something out of my work. People like Carnivore trade the method I disclose and make money but others choose aspects of the book to improve their current trading methods. My intention all along was to accelerate my clients understanding curve in trading financial markets and distill the information that separates the successful from those who fail.

The fact that an EOD system that I trade is disclosed within the book is I think a bonus rather than the raison d'etre.

Thanks again for the feedback. Always nice to hear from you online or off.

Cheers

AT

PS - JonnyT - your input is welcomed too (although I don't like it as much ;-) )
 
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aussietrader

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pbarroso,

We spent some pre-arranged time on msn messenger and I actually spent a day working with him on my recent European jaunt.

I am based in Australia but spend a fair bit of time abroad in Asia and America. Probably more time in Europe in future now I am an Irish citizen! (I married well for that one!)

AT
 
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aussietrader

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hmmm....how to answer this without exposing myself to ridicule.

Yes it is me...unfortunately don't have any photoshop to enhance the photo. Willing to pay if you can make me look like ummm....Pierce Brosnan...perhaps I should post a photo of him there instead....now there's a thought.
 
 
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