Trading from home

[Pat494]

http://www.bbc.co.uk/programmes/p026vghs

 

[Pat494]

In the office with Piers and de lucy

http://www.bbc.co.uk/programmes/p0269pqs

 

[Pat494]

Many stay at home traders mix their financial activities with sport, at home too sometimes. This is Charlie Burton

 

[Pat494]

It has taken me years to finely tune my home trading .
What about you ? Some feel they need others around them in a trading room ! But that costs money plus commuting 5/7 days.

 

[tokyojoe]

Commuting would now turn my stomach.

One of the great things about this game is there is no commute.

7.15am-8am : set ups & possible position placement

8am-11am : place positions (usually after 8.15/8.30)

11.30am-1pm complete break & try to close out morning positions, then gym etc

1pm-4pm place positions (taking care around US open)

4pm-5.30pm'ish : watch the close & if in open position will do usual trade maintenance.
Usually open flat close flat on the day with no overnights, revision of the day & done.

I've come to the conclusion that I will never want to spend all my time in front of monitors & constantly worrying about markets, this is a good gig, but can easily zap your time at home

 

[Pat494]

Commuting would now turn my stomach.

One of the great things about this game is there is no commute.

7.15am-8am : set ups & possible position placement

8am-11am : place positions (usually after 8.15/8.30)

11.30am-1pm complete break & try to close out morning positions, then gym etc

1pm-4pm place positions (taking care around US open)

4pm-5.30pm'ish : watch the close & if in open position will do usual trade maintenance.
Usually open flat close flat on the day with no overnights, revision of the day & done.

I've come to the conclusion that I will never want to spend all my time in front of monitors & constantly worrying about markets, this is a good gig, but can easily zap your time at home

You have obviously worked out your routine and therefore it should suit your circumstances. Good one.

 

[Pat494]

Here is a video about real people who are on the money trail successfully.

 

[tokyojoe]

You have obviously worked out your routine and therefore it should suit your circumstances. Good one.

Sounds like you have worked it out too Pat, I've spent hours & hours in front of the screens over the last few years & I do feel that although I don't aspire to be the next 'flash boys' competition, I do have enough knowledge & experience now to not let this rule my life & take each session as it comes.

I hope people coming into this will not think this is the holy grail to life (I don't imagine most switched on guys will be naive enough to think "oooh I'll sit at home in my office & make a killing doing the markets" that is defo not the reality IMHO, it takes ages to get a handle on all aspects of the game.

I still love it & perhaps I do because I have gradually made sure that I try & take advantage of certain times of the day, doesn't always work out, I often miss a move & am left staring at the runner I should be on, but these days I just think about the next opportunity, I never ever chase.

Have a good weekend

 

[Pat494]

Many different ways to be successful imho. Each to his/her own way.
There are those that trade on a whim or gut instinct and others who have a mechanical system.
Not sure which is best. Will the power of the feeling suddenly go wrong ? That is why I have gone down the mechanical route.

Some trade charts and some fundamentals.

 

[NVP]

other threads covered this BBC programme at the time. Fascinating feedback and if you read them some people are not what they seem

Hope you guys are faring better than some of the people that were included on this series

N

 

[richieforex]

other threads covered this BBC programme at the time. Fascinating feedback and if you read them some people are not what they seem

Hope you guys are faring better than some of the people that were included on this series

N

Do you have the links to the threads?

 

[f2calv]

The Millions By The Minute mini-series had a section on social trading, which I'd never heard of - as I'm fairly new to the trading game as a whole.

However I ignored social trading as I thought I was going to be better, plus having seen lots of poor feedback about signal generators not using stops, opening multiple trades just to get more commission, etc etc...

Then about 14 days ago (after a bad days trading) I thought f**k it and I stuck £1k into a Zulutrade account on micro-lots and figured I'd see what a couple of these *star traders* did with it. I was up £50 in the first 24 hours, but now I have shut down/unfollowed the traders as my account is down £250 - running trades with stops 400 points away, really, wtf??

In short I thought I was a poor trader, but looking at the trades these "winners" opened and then let run I've realised I'm actually not that bad!

Having said all that, there *must* be a decent PAMM elsewhere or signal generator on Zulutrade? Any suggestions... as I've a whole £750 left to rinse omg

 

[Pat494]

The Millions By The Minute mini-series had a section on social trading, which I'd never heard of - as I'm fairly new to the trading game as a whole.

However I ignored social trading as I thought I was going to be better, plus having seen lots of poor feedback about signal generators not using stops, opening multiple trades just to get more commission, etc etc...

Then about 14 days ago (after a bad days trading) I thought f**k it and I stuck £1k into a Zulutrade account on micro-lots and figured I'd see what a couple of these *star traders* did with it. I was up £50 in the first 24 hours, but now I have shut down/unfollowed the traders as my account is down £250 - running trades with stops 400 points away, really, wtf??

In short I thought I was a poor trader, but looking at the trades these "winners" opened and then let run I've realised I'm actually not that bad!

Having said all that, there *must* be a decent PAMM elsewhere or signal generator on Zulutrade? Any suggestions... as I've a whole £750 left to rinse omg

Why let others waste your money ? Are you too short on patience to even try to improve your own trading and perhaps be profitable ?

 

[f2calv]

Why let others waste your money ? Are you too short on patience to even try to improve your own trading and perhaps be profitable ?

I am (like most?) looking for the highest return on my capital and so my curiosity led me to see what social trading was all about - and if it could get me extra pips for minimal effort. I thought I'd share my discoveries on it given the content of this thread.

My patience needs working on but my trading is improving daily thank you, although not yet profitable I anticipate breaking even within a month or two.

Plus for myself risking £1k (a fraction of my trading capital) is neither here nor there in the grand scheme of things. It was a punt. It didn't work. Now I know. And I'm pretty happy with that outcome.

 

[tokyojoe]

I am (like most?) looking for the highest return on my capital and so my curiosity led me to see what social trading was all about - and if it could get me extra pips for minimal effort. I thought I'd share my discoveries on it given the content of this thread.

My patience needs working on but my trading is improving daily thank you, although not yet profitable I anticipate breaking even within a month or two.

Plus for myself risking £1k (a fraction of my trading capital) is neither here nor there in the grand scheme of things. It was a punt. It didn't work. Now I know. And I'm pretty happy with that outcome.

Hi f2, I got quite involved with a social trading article written for the Telegraph, It made me delve into the workings of of it. I can honestly say for me it is a bit of a black hole, as you seem to have discovered.
People want an easy route, nothing wrong with that, but this game is almost like doing your own apprenticeship, learning by many mistakes along the way, but time & effort is the main teacher for me (as a part timer ha ha ha)

On the whole this forum is a good source for trading ideas, with the good & bad, egos & spats etc, but it's far far better than blindly following someone on social trading sites. Glad you have shared your discovery.

The fun part is now joining it all together & using your experience over the coming months/years to pick your entries & exits & go with the flow.

Good luck

 

[tomorton]

I am (like most?) looking for the highest return on my capital and so my curiosity led me to see what social trading was all about - and if it could get me extra pips for minimal effort. I thought I'd share my discoveries on it given the content of this thread.

My patience needs working on but my trading is improving daily thank you, although not yet profitable I anticipate breaking even within a month or two.

Plus for myself risking £1k (a fraction of my trading capital) is neither here nor there in the grand scheme of things. It was a punt. It didn't work. Now I know. And I'm pretty happy with that outcome.

Hi f2 - I've got to suggest that actively seeking maximum profit at this stage is too soon. Practice on a demo account, refine your strategy for all the situations you'll encounter. Aim for as near 100% consistency as you can before you trade with real £ again. If you're going to drive a Formula 1 car, your aim is to win, but wouldn't you practice first?

 

[f2calv]

Thanks for the input tomorton - sorry I wasn't crystal clear in my earlier response. My trading is profitable now and has been since the start of the present year. And although I've been marking down my earlier losses as "trading tuition fees" if you will. I am still of course wishing to claw that money back back - when I breakeven then from that point onward I will be able, hand on heart, to say I am truly profitable!

Also I didn't say "maximum profit" I said "maximum return", had I wanted maximum profit I'd have stuck £500/point on the FTSE with a 100 point stop loss and walked away I have split my trading/investment capital up amongst various instruments whether that's traditional shares, ETFs, p2p lending (i.e. Zopa) and spreadbets - I was wondering if social trading was going to be another string to my bow.

Next on my list is to learn more about Options and CFDs which I would hope to be able to use should the situation arise.

I think social trading such as Zulutrade *could* actually work - but better to have closed groups of friends/acquaintances i.e. someone from t2w who is amazing on Forex runs a Zulutrade account and teams up with someone on t2w who is amazing on indices runs a Ayondo account and these team up with another t2w trader skilled in stocks. Each benefiting from the volatility in one anothers' market but only having to concentrate on their own. Hence me wondering if there is anyone with experience of such a thing as a decent/honest PAMM account?

 

[tomorton]

trading tuition fees good healthy way of looking at it.

 

[NVP]

Sounds like you have worked it out too Pat, I've spent hours & hours in front of the screens over the last few years & I do feel that although I don't aspire to be the next 'flash boys' competition, I do have enough knowledge & experience now to not let this rule my life & take each session as it comes.

I hope people coming into this will not think this is the holy grail to life (I don't imagine most switched on guys will be naive enough to think "oooh I'll sit at home in my office & make a killing doing the markets" that is defo not the reality IMHO, it takes ages to get a handle on all aspects of the game.

I still love it & perhaps I do because I have gradually made sure that I try & take advantage of certain times of the day, doesn't always work out, I often miss a move & am left staring at the runner I should be on, but these days I just think about the next opportunity, I never ever chase.

Have a good weekend

trading from home as a pro may be the holy grail of life for some ...........but the kiss of death to others .............personally I still struggle as I am quite outgoing and need to work with other people to get the buzz .......having been exposed to this lifestyle whilst inbetween work gigs recently i'm not quite in the Zone to do it ......yet ...........my posting here at T2win is how I can get the interaction whilst trading ..........

going to continue to top up pension pots from consulting and "real" work for a while yet .............will be ready for this lifestyle in next few years though...and my learning journey continues anyway in the interim...and you never know in trading whats around the corner re new ideas / systems / platforms etc etc ..........I came back into trading in the early 2000's and it was a different world to my experiences in the 80's and early 90's



N

 

[gurpal212]

Commuting would now turn my stomach.

One of the great things about this game is there is no commute.

7.15am-8am : set ups & possible position placement

8am-11am : place positions (usually after 8.15/8.30)

11.30am-1pm complete break & try to close out morning positions, then gym etc

1pm-4pm place positions (taking care around US open)

4pm-5.30pm'ish : watch the close & if in open position will do usual trade maintenance.
Usually open flat close flat on the day with no overnights, revision of the day & done.

I've come to the conclusion that I will never want to spend all my time in front of monitors & constantly worrying about markets, this is a good gig, but can easily zap your time at home

Hi Joe,

It is fantastic that you have a routine. I had a similar routine where I traded the daily charts so did not need to spend all my waking hours in front of the charts, which proved reasonably effective. If you dont' mind me asking as well as to others in the forum, what sort of percentage return do people tend to make from month to month, I would most certainly appreciate members feedback.

Kind regards

Gurpal