Yet another get trader trying to get rich quick

north5

Well-known member
262 40
Hi All,

Been along tim since I posted on here, but somewhere and sometime I had a thread on my attempt to run an account up taking big risks (i.e. 20-50% of account). So before you all jump in and say how ridiculous this is - I know. I'm not trying to gain a following or pretend I'm a super trader. I am taking a calculated gamble with a small amount of my money as a high risk strategy.

Most of money is locked away in my ISA and Pension (mostly Cash right now tbh as I like to try and buy low and hold and markets are too high for me to be interested. I have taken a Russian fund a few weeks ago +9% already on that, and am always on the look out for value areas - but not much taking my interest right now).

We have dual incomes and some other small ventures that will hopefully develop some cashflow.

I guess my point is that this is part of a diversified (ish) approach to money - not a desperate roll of the dice.

Last time I did this on here I believe I started with about £2k, made some money, took some losses and then stopped to buy a Omega watch with the profit that was left.

I then spent a few years away - not really trading as life got in the way (moved country and jobs etc etc)

Last year I got back into trading and ran 3k up to about 50k, I took £20k out to add to my pension and then promptly lost the remaining £30k.

So far this year I have generated a profit of £7k - taken £2k out which I have spent on a TV and holiday.

I now have that £5k to give it another go. Not sure why I want to post about it - I guess trading is a bit of a lonely enterprise and this is one way to share the ups and downs. The wife doesn't take much interest, and I don't like discussing with friends as they will either think I have loads of cash to squander (I don't) or have a gambling problem (I don't think so anyway).

I normally trade FTSE, Dow and sometimes DAX. I also normally short for some reason.

Today have taken a short FTSE £[email protected] and DAX £[email protected] I know these are basically the same bet - just couldn't resist!


Anyway - will try and post regularly - probably from my phone - so all interest, comments and banter welcome.
 

DowJones

Established member
676 240
Been along tim since I posted on here, but somewhere and sometime I had a thread on my attempt to run an account up taking big risks (i.e. 20-50% of account). So before you all jump in and say how ridiculous this is - I know. I'm not trying to gain a following or pretend I'm a super trader. I am taking a calculated gamble with a small amount of my money as a high risk strategy.

Hi, can I just jump in and say how ridiculous this is? ;) Oh, and you are not taking a calculated gamble. There is no 'calculation' or 'strategy' - you are just being v silly. Enjoy.
 
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north5

Well-known member
262 40
You can and I won't take offence. I believe it is a calculated GAMBLE because I have made significant money from this approach before - always got out with a profit (indeed this time my worst case is I lose it all and just have the 2k profit already banked).


That risk level will fall as the account (hopefully) increases, but for now I will sit on a loss up to about £2k before I bail.

I feel you though - this isn't a trading method and I bet it does look ridiculous. It's a punt on my skills holding for the short term to get a big payback. If I get the account up pretty quick then I will have the backing to keep to the same size but have the £2k loss mean less to the account when it comes. My problem has always been I keeping to the smaller size as the pot grows!

Also - I do have reasons for entry normally looking for prices to move back into ranges - rather than keep extending. As you will suspect I tend to get hammered by trends. Hopefully with us coming to the summer the highs will hold for now and some decent range trades for the next few months so and I will get the account up quick. But then again they may not and I may not...
 

north5

Well-known member
262 40
I trade with cmc spreads. I like the mobile app as I normally trade whilst at work and the lack of slippage in execution.
 

north5

Well-known member
262 40
Just closed the 2 trades to take £300. Think they will be lower than current levels by the end of the day, but am expecting a bump and Dump of the Dow at open. So will look to get back in on that - hopefully something like a Dow short around 3pm above 16640.

Start £5000. Balance £5316. Withdrawn £0.
 

barjon

Legendary member
10,674 1,796
............ My problem has always been I keeping to the smaller size as the pot grows!...........

...

Reasonable to ride your luck since you seem to appreciate it as a gamble. Maybe keep on taking half profits out when they come will keep you finishing up with something to show for it in your bank account.
 

SpreadDoctor

Well-known member
318 59
I normally trade FTSE, Dow and sometimes DAX. I also normally short for some reason.

Today have taken a short FTSE £[email protected] and DAX £[email protected] I know these are basically the same bet - just couldn't resist!


Anyway - will try and post regularly - probably from my phone - so all interest, comments and banter welcome.

well good luck to you. It sounds like you are a bit of a risk taker, like a gamble. Gambling is fine in my book as long you know what you are getting into and are not kidding yourself that you have some sort of long term edge/proven method. I prefer to use rigorous statistical methods and diversification to deliver growth to my account. After a while the roller coaster of up 5k down 5k up 10k down 10k gets a bit wearing. :)
 
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north5

Well-known member
262 40
GI like ups, not so much the downs.

In a bit early on this but short £20 @16655.

Anyone else had success with high risk strategies.

Spread doctor - you sound like you've given it a shot in the past.
 
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north5

Well-known member
262 40
Took another short £10 @16667
 

SpreadDoctor

Well-known member
318 59
Spread doctor - you sound like you've given it a shot in the past.

oh yes in my younger days I would take more directional risks. These days my trading is quite sedate, holding times range from 1 to 30 days. I dream of 5% months :LOL: slow and steady wins the race. I do have the occasional punt on things I like but treat it as a punt not my bread and butter. I genuinely don't miss the rush of day trading, well that is what I keep telling myself hah.
 

north5

Well-known member
262 40
Yeah - as I said in my first post - for some reason I like to sell. You gotta work with what you have and for some reason I think I know when a market is overbought - it's hurting a little at the moment.

Can't seem to day trade like a bull.

I only like buying when prices are really low and then for the long term really. Which is why I'm mostly in cash right now.
 

I'vereadthemall

Member
74 9
And again £[email protected] Am a bit too exposed for my liking, but expect this to come good.

I also enjoy gambling as the much as the next person, but even when punting on the horses I wouldn't just pick a number out of the hat. I'd have a look at the form, speed figures, win-rate of the strategy over the previous season etc.

If I had the money or inclination to happily approach the market with your bold attitude, I would rather take a system that has tested well over the past and that has a high win rate, and then I would gamble maximum-kelly on each trade.

At least this way, there is some sort of mathematical reason that suggests I could parlay the money to untold riches. I am curious why you wouldn't take the same approach?

It would be exciting for the rest of us to follow somebody employing such a system.

Anyhow, good luck to you!
 
 
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