ALoha, in 2008 when left college in June, and started trading crude oil fulltime from July from a starting capital of just £759 (all the money i had in the world), i ended this year on thursday having made a total of £26,589 profit!! While this may not sound like money compared to what some people make, the 1st 3months of the 5 were all at just £1 per tick, and every trade was done paying 12ticks spread. Which may not sound much, but over this last month of december ive been paying over £100 in comission per trade!! :eek: :eek: I have living costs of about £1,600 per month, and so ive been withdrawing £2,000 t £3,000 per month. So i havent and wont be 'compounding capital', as i will be withdrawing £2,000+ per month so i can avoid being homless and keep having food to eat! I will be starting 2009 with £9,021. (Have withdrawn nearly £2,000 to my bank account which i will use on monday to pay for 2months of rent, so covered rent till 23rd feb). And my dream target is to end 2009 having earnt £89,000 profit. (Although if i can end 2009 with just £9,021 capital in my account, but have managed to earn enough to pay my rent and food every week of the year, i will still be happy). I am going to be trading at £6 t £8 per tick, mainly trading crude oil, but will have a 12ticks spread.. :/ (So my comission per trade will cost 1/3 %) Will keep my daily journal through my main journal- http://www.elitetrader.com/vb/showthread.php?s=&threadid=134046 But may also post in here occasionally.
yeah, what if trading through a real broker and paying much less slippage is the next step you need to get to the compounding point? i mean, it does seem like you know what you're doing, so paying $4-5/rt instead of 12 ticks should help you out quite a bit...
I suspect / sounds like you are spreadbetting ? Once you can play the game against dirty tricks of spreadbetting companies when you do graduate to a "proper broker" you will find trading less challenging. I remember way back in 2001 betting £0.50/point with Finspreads scalping FTSE 100, all day long. Your biggest advantage has been cutting your teeth in one of the craziest market environments ever, and hopefully gaining a healthy respect for risk !!!
Why do you hate sb firms so much mate, but like having a broker and having to pay tax?? :eek: I am trying to get EXTCAPITAL to lower their oil spread size down from 12ticks to about 6 or 8 though, since at 12ticks spread size ive been having to catch over 0.33% market movement per trade to just breakeven!! :eek: :eek: And gna try getting them to allow stoplosses of any size or tighter sizes.., since at moment the smallest stoploss you can have on oil is 100ticks, or 2.5% market move!! :eek:
Spanish, why don't you check out futuresbetting? They do direct market access spreadbetting, so it's tax free and has the same spread as the underlying. Sounds like you have enough money to open an account there now.