If i had been using direct access for the last 4months how much of the £18,650 that i generated would have actually been cash that i could pocket??
HI. I have read some of your posts ( not all), and I see that you are making money every day. Then I see a lot of ppl do not believe you, I also found it hard to believe at first, however there are also many ppl that hope to learn something from you. I have a few questions for you, hopefully you can answer them: 1) Do you have a journal where you post LIVE trades? Realtime? So that there can be analysis on your trades? 2) Do you have any losing trade at all? I have seen your trade history, and if I'm not wrong I have not seen a LOSING trade. Is this true? 3) Are you using any sort of martingale or semi-martingale strategy? 4) Does anybody here somewhat know what is your strategy? Thanks and have a good day.!
ALoha mate and cheers for your message. Its not that people dont 'believe' that im actually earning this much, as i have posted screen shots of my account that i could not change even if i wanted to, showing the consisent profits i make. The people who post saying that im a gna lose all my money 1day and im not a good trader are just people who have tried spending lots time working on intricate yet foolish stratergies on how they think they can make lots money trading, failed and lost lots their money, and so now they just do a job unrelated to trading, but cos they have no social life they coem on here and take their anger and jealously out on people like me who do earn extremely high amounts of money, from tiny starting accounts. As far as most people think; 18years olds who wear earings arent meant to trade! They arent meant to be able to be to earn so much money so young. If you read through my journal you will not only see my live trades in the screenshots, but you will also see many many posts where during the day i have commented on what levels i watching and waiting for at that time, and where i will be entering and exiting the trade.[B/] And i then often try to give a brief explanation on why i am making that trade and the reasons and logic behind the market moving in that way. I havent given so many pre-market forecasts in this journal, as the market has now changed from last few months, and so its not now so easy to forecast it from the night before, instead you can only trade it by what you see during the day. But if you go to this link of my previous journal i was doing market forecast for a whole rnage of markets, not just oil, since i was getting alot of requests from newbie traders asking me to... And i was correct for about 19 of the 22 days i did...[I/] http://www.trade2win.com/boards/tra...panish89-s-daily-trading-journal-whooooo.html 1.[B/] There have been alot of live calls in this and my previous journal, however as i was previously scalping (with a 12-pips spread might i add) , i was doing 50-60 trades per days some days, and so i didnt have time to post every trade in advance. However now as im doing max 6-8trades per day, i am more than happy to give these all as live calls on here 'before' i make the trade. 2.[B/] Yes i do having some losing trades mate.. lol I may be very skilled at trading, but its impossible to never have a losing trade (unless you swing trade). I have posted the full trade history for each day inclduing all my losses, however there just are not many losses at all though. [I/}And with the extremly odd exception, the losses are ususally under 10-pip losses, and will be taken as aloss within 1minute of te trade being made.[I/] I do have the occasional big loss, these are only when the market does something extreme and volatile though that there could have been no way of seeing or understand what caused it till a few hours after its happened. (For example when the hurricanes were here, market would jump up and down 100s ticks in seconds as soon as the national hurricane centre upgraded/downgraded, but i didnt have access to that info as it broke. And like 2weeks ago i had made 800ticks in 2days of scalping, but then lost 275ticks on the 3rd day, when the bailout plan came and brought all false hope to buyers of oil and economy). However most of my losses are undr 10ticks, and i probbaly only have 1 losing trade for 19 profitable trades. And my profitable trades are between 30 - 250ticks each. 3.[B/] I googled martingale, and after reading about the system: http://vegasclick.com/gambling/martingale-betting-system.html My 'style' of trading is nothing like that 'stratergy'! lol Ive used the word style instead of stratergy, as that is how i trade. I dont have a preset stratergy that says ''whenever market moves up 50, drops 10, the moves back 15 buy with a stop of 5'' or anything like that. As in my view people who use 'stratergies' are doomed to fail eventually overall as they are not actually even understand and accepting the market for what it is.[B/] I wll paste an article that i published a few months ago to try and explain to other traders what i mean, and to help newer traders. As it was only when i 1st started actually looking at the market for what it really is, that i started this consistent profitablility-[I/]
How do you actually view the markets?? Not how you think you view them or would like to view them, how in actual practise when trading are you viewing them?? Do you view them as a sort of advanced gambling circuit?? Where your stoploss is 'your bet stake', and any profit you make is 'you winnings, and if you got in at the wrong time in the wrong direction for that time your 'bet stake' is taken away from you as the loss. OR Do you view them as an actual real physical market-place?? Where your 'purchase contracts' for a certain price (the spread price), these contracts say you can buy or sell that product at the price on the contract, and so you purchase these contracts depending on the direction in which you think the market for that produc is going to head over the next few minutes/hours/days. And then hold that contract in your hand till you can cash it in for profit, or if you think the market is infact now going to continue going the opposite way for quite a long time before it goes in your favor you just get rid of that contract as quick as possible for a loss and get a contract for the other direction instead. Most people who now trade online do infact view the market as the 1st option when they are actually trading, even if they dont intend to, since that is the way the market is layedout and portrayed online. And i believe that this is the reason why most newbie traders lose lots n lots of money in lot of little trades to start with, and then many traders who may have been trading for many many years but not done well at all even after all those years still continue to lose lots of money in these little trades... As they actually are subconciouslly automatically viewing the markets online as a gambling circuit, using the stoploss as their 'Bet stake', and then just hoping that tht stake doesnt get touched and taken out in the future before it goes in their favour.
The majority of newbie taders start by doing the exact opposite. When they are 1st starting theare so scared of ever losing money, that they think if they use the minimum stoplosses they will be losing less money overall if they did get wrong direction and so do ''lose'' that trade. But ths is their biggest mistke as they are viewing the stoploss as 'a bet stake', and so they may only lose a little, but lose it repeately consistently.
Im not however saying 'just stick a trade in as soon as you turn your screen on, whack a giant stoploss on it, and your gna make money'. Cos if someone did that they would lose all their money. The reason i feel safe enough with my judgement to be able to use such wide stoplosses, is because i know that i am now skillful enough at trading to be able to know just by looking at chart, scrolling through the different time frames, to be able to tell with about 96% accuracy whether the market is going to continue going up, or had hit too strong resistance, the spike is out of steam, and its getting ready for a big crash that i want to cash in on with my sell. Or if its still got further to rise before it becomes time to sell. All i use is check the daily/weekly fundamentals for oil and the economy, keep the eur/usd chart in 1corner of the screen, and then just use this chart to trade (sell only) of all the spikes and peaks, using just S&R levels. http://md2.it-finance.com/MDLight/i...D.CL.Month1.IP&timezoneOffset=0&webSiteId=igi Just scroll through the different time frames, zoom out when needed, and trade of the S&R levels, depending on which of the levels the oil stops and finds resistance at, and how it reacts then. And i just use support levels off the chart to know where to cash in and wait for the bounce before selling again. I trade off Vs. (Meaning i sell all down the left side of the V, maybe in 2 or 3 trades if cash in at support bounces, when it goes too low down the V i leave and wait and let it rise back up the other side, and then wait for next selling opportunity.) And the reason i can use such wide S/Ls sucessfully consistently is cos i gained many many months and months and months of experience since i started partime trading well over a year ago, so its now just 2nd nature to be able to look at the graphs timeframes and just tell when its at the top of V, middle, and bottom. I got to go have a bath now and take a break from trading for a few hours atleast.. lol But i hope ive answered all your questions?? Im more than happy to answer any more you may have. And il post my live trade calls in-advance from now.
that link you posted of the chart? what is the main homepage for it?? i am not interested in crude oil, but i wanna see if they have other instruments thanks
Spanish89 is entirely correct. Once a trader has the ability to understand the direction of prices by looking at different timeframes there is only money to be made from there on out.