Trading.

planteria

back up now. i think the programme is interesting, in parts..

ive actually met one guy on it, but didn't know he was a trader. the Rene guy worries me a bit. and Jane even more so. whereas Charlie is clearly a switched on, reasoned chap.

in a couple of instances there is reference to a maximum level of loss, but unlimited upside. i am interested in how they are achieving this, without just being at risk of very regularly crystalising the small loss..

kingrulzuk

zayn wrote: »

Start with a plus500 demo account , work on the Euro/USD , if you can work on only one trade a day say 10 pips or above in profit for average of 3 months then you have done well. if your losses are over 10% per day then forget it...

Thank you for ur info. i will check it out right now

bowlhead99

planteria wrote: »

in a couple of instances there is reference to a maximum level of loss, but unlimited upside. i am interested in how they are achieving this, without just being at risk of very regularly crystalising the small loss..

There are a couple of ways they can achieve that but the key point you've picked up on is that they ARE at risk of crystallising the small loss

For example if you place a trade with a guaranteed stop loss, then if the market moves against you, you know you are not going to lose more than that loss *on that particular trade* so it's not like you can lose the shirt off your back while you're out at lunch (e.g. like that nurse who just closed her laptop screen because watching it was too nerve wracking and she was going to come back to it in an hour or so...). Of course, if the stop is too close you will just hit it far too easily and take the loss while the market goes back up again without you, and if the stop 'works' to protect you from a bigger loss, it is still a loss, so you don't want it to need to work too often. But this is a money management tool rather than a trading strategy.

Another way of guaranteeing downside is by buying an option contract. If the market moves a long way in your favour, the option can be worth lots and lots and lots. If it moves a long way against you, it can never be worth less than nil when it expires, worthless.

The guy with the Porsche seemed to actually know what he was doing (i.e. he had a system) and would be able to make chains of multiple orders (stop loss sells, limit sells, limit buys, stop buys etc) according to his views for the day and then go out and leave those orders open - they would self execute and take care of themselves. A far cry from the nurse who was just watching the pretty graphs and guessing where it might go next on a play account without any technical analysis or science behind what results she was getting or what the next trade should be.

However it was mentioned by others on the forum that Porsche guy is actually a professional trader who has been doing it a long time and will actually be earning a chunk of his Porsche money (maybe most of it) from selling trading systems and services to others - you can see him on youtube. The BBC completely skipped any reference to that - surely impossible that they didn't know, that's probably how they found him - so his bits come off as a glorious advert about how easy it can be to make trading from home work for you if you have the right technology and systems and mindset (and hundreds of thousands of pounds as your bankroll).

While some of the others in the programme clearly did not, they were newbies who were looking for a dream work-from-home job and not actually making money other than by a bit of luck here and there. That would be the experience of most who try it, even if they do try really hard and buy all the kit and the expensive realtime subscription data and a 'trading for dummies' book and perhaps even some proprietary 'strategy' system from a guy online.

puk999

bowlhead99 wrote: »

However it was mentioned by others on the forum that Porsche guy is actually a professional trader who has been doing it a long time and will actually be earning a chunk of his Porsche money (maybe most of it) from selling trading systems and services to others - you can see him on youtube. The BBC completely skipped any reference to that - surely impossible that they didn't know...

It was disappointing that we weren't informed of his background as he was the most intriguing person featured IMO. Whether there was a progression to wealth, or born with a silver spoon in his mouth. It's not as if they didn't have time (e.g. they could've replaced the bit where he was showing off his muscles ).

kingrulzuk

puk999 wrote: »

It was disappointing that we weren't informed of his background as he was the most intriguing person featured IMO. Whether there was a progression to wealth, or born with a silver spoon in his mouth. It's not as if they didn't have time (e.g. they could've replaced the bit where he was showing off his muscles ).

BBC is full of Crap

le_loup

kingrulzuk wrote: »

BBC is full of Crap

So where can I find a similarly interesting programme from another broadcaster?

zayn

puk999 wrote: »

It was disappointing that we weren't informed of his background as he was the most intriguing person featured IMO. Whether there was a progression to wealth, or born with a silver spoon in his mouth. It's not as if they didn't have time (e.g. they could've replaced the bit where he was showing off his muscles ).

Interesting but i did think when i saw him that he looked clinical and methodical. Just too polished for an Average trader. Anyone have Links to him..

zayn

Just finished my week profit up on shorting Tesco using Plus500 £334, Probably could have got more if i studied the candle's more. Still working on the one-two day trade method with 10-20 pips max..

le_loup

zayn wrote: »

Just finished my week profit up on shorting Tesco using Plus500 £334, Probably could have got more if i studied the candle's more. Still working on the one-two day trade method with 10-20 pips max..

Wow!
Who's a clever boy?

kingrulzuk

zayn wrote: »

Just finished my week profit up on shorting Tesco using Plus500 £334, Probably could have got more if i studied the candle's more. Still working on the one-two day trade method with 10-20 pips max..

Awesome M8.