Forex Student Position Available - Enquire Within.
- Thread starter jammie
- Start date
PhiltheBear
Junior Member
- Feb 17, 2008
- 197
- 96
I was long on the FTSE index on Black Monday. I just watched it fall 500 points in about 10 seconds. After that you learn the value of a stop loss!
Rob the Builder
Regular Member
- Nov 12, 2005
- 243
- 177
mmm well I've just made a total of 150 points via ftse and dow jumping in and out.....(spreads)
Phil you in UK? Been wanting some advice re trading software ie sharescope tc2000 etc.
Also get confused re spreadbetting prices re actual prices. With IGindex you can trade "outside hours" 24/7 monday to friday. Unfortuatley they dont trade weekends so missed out on 300 points friday-monday opening. Still 150 point better than a kick in the A.
Best advice I have been given is once I make my points hit the close button and exit application at least for an hour or so lol.
Maybe a new threads needed for this?
Phil you in UK? Been wanting some advice re trading software ie sharescope tc2000 etc.
Also get confused re spreadbetting prices re actual prices. With IGindex you can trade "outside hours" 24/7 monday to friday. Unfortuatley they dont trade weekends so missed out on 300 points friday-monday opening. Still 150 point better than a kick in the A.
Best advice I have been given is once I make my points hit the close button and exit application at least for an hour or so lol.
Maybe a new threads needed for this?
cashcorp
Regular Member
- Feb 8, 2008
- 474
- 288
Well...Time to come on in here with the big guns of my dreams I guess.
I've been heavily involved in charity/volunteer work since a fairly young age (13). The whole "Take over the world" ball started rolling around that time as well, as Im the type of individual to see something wrong-and drive myself crazy until I find a solution. I live in a wealthy country, with the logistics to take much better care of its own citizens, well enough not to let them die from poor healthcare and spend a lifetime trading there life away for pennies.
Anyways sorry-there I go already, I dont intend for this to be a political rant.
So money. What does money mean to me? hmmm...
Money means power. Power means people are willing to listen, and whenever people are ready to listen;it means I'm running for office.
So there you have it in 2 short little lines. Take me on, and if I do succeed and fix this mess of a country I'll give you diplomatic immunity and you can come over here and pull all kinds of shenanigans.
All joking aside, I'm very serious about the running for office bit. Maybe I'll never see the oval shaped one (The presidency) but I've got a pretty good shot at being a senator, and in the least stirring alot of shit up. Hell, I already am. A few million and shit man, nobody could stop me.
Oh yeah, and Im a quick learner, dedicated, and intelligent. I pour every little bit of myself into my business, im sure half of BHW is laughing reading this-But I dont give a damn, Thats why I got into this business and its no great secret. This is all just a stepping stone for me, as soon as I have the capital I have three solid business models I plan on putting into play. From there? Well hopefully the rest will be history. (And if not, at least I'll have a comfortable lifestyle
)Anyways, sounds like an awesome opportunity;and I do have a handful of forex experience. My stepfathers been playing with the currency market for the last 2 years or so and pulled in a nice net sum for such a short time on the market. I've followed his own studies on the sidelines, and know the basics. I'd absolutely be indebted to you if I get the spot.
Oh yeah, and I keep up with global affairs anyways.
So thats literally "my" salesletter.
Anywho if ya pick somebody else, I hope they put in the work. It'd piss me off to no end for someone to waste such a awesome learning opportunity. On another note, hook me up with a landing page link when the product goes live
Oh yeah I forgot, I'm a 19 year old male(Last time I checked.. ahahaha)
Skype=ppncashcorp
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PhiltheBear
Junior Member
- Feb 17, 2008
- 197
- 96
I told 'er indoors yesterday that shorting bank stocks would be a good bet. HBOS down 35% today!!!
Spreadbetting prices are skewable depending on which way the firm offering them think they are going. Thus, if you are offering FTSE which stands round, say, 5500 on a normal 2 point spread 5498-5502 and you think the market is falling you both increase the spread and move it to become, say, 5490-5500. However, most spread betting companies hedge against futures markets rather than match internal positions so they don't get too far out of whack. I seem to remember that Cantors offer weekend prices on FTSE - but with wider than normal spreads out of hours.
Outside trading hours most spreads are based on the DJ's movement because London tends to follow that. The London markets tend not to take overmuch notice of the Far East unless there's a global phenomenon. DAX is sometimes a good predictor.
And, yes, I'm UK based.
jammie
Power Member
- Feb 24, 2008
- 773
- 459
Good to see some people are making some nice money on stock. Once i have enough capital i want to diversify into some of the FTSE companies, but that won't be for a few years. Probably a bad time to get in for stock due to current economic issues, but very good for spread betting. But i don't even have enough to do that!
My system probably wouldn't work on stock too well so i'll be learning them the long way, but may work on some indicies (i'll have a play around with FTSE later and see how well i do, don't get your hopes up though).
But phil & rob, if it seems to work on stock i'll give you both a quick run down of how i trade and you two can have a play around with it, as it probably would only take about 45 mins to show you the system i use.
& webb, i'll try! =]
Jamie
My system probably wouldn't work on stock too well so i'll be learning them the long way, but may work on some indicies (i'll have a play around with FTSE later and see how well i do, don't get your hopes up though).
But phil & rob, if it seems to work on stock i'll give you both a quick run down of how i trade and you two can have a play around with it, as it probably would only take about 45 mins to show you the system i use.
& webb, i'll try! =]
Jamie
Rob the Builder
Regular Member
- Nov 12, 2005
- 243
- 177
Sent you a PM Phil - thanks for the explanation
PhiltheBear
Junior Member
- Feb 17, 2008
- 197
- 96
jammie
Power Member
- Feb 24, 2008
- 773
- 459
I haven't updated this for a while and i'm sorry. I'm just updating everything at the moment.
I both under and over estimated the emotional aspect of trading. I was so well prepared for trading on my new account i got very cocky and risky - i netted 25% in my first day. Ended up reading the markets wrong and seeing a trade which just wasn't there. I didn't apply basics and paid very heavily for it (about 50% of my account. yep. ouch.).
Lesson learnt there. So i'm changing everything around to show people why our brains act this way. I mean, more than anything i thought i'd be nervous, but i wasn't. I'm trying to find a sure-fire way to help people get over there emotions whilst trading, so we can cut the learning curve abit.
I don't want someone i teach to make an unfounded, stupid, simple mistake like i did. I still can't believe i fell victim to a chemical reaction in my brain.
So yeah, let me slow it down and give me abit to rebuild my account to get some more stuff scribbled down so others don't suffer. I know for a fact loosing some of your account straight away would put alot of people off trading, so i'm going to make it as easy as i can and hope for the best!
The position is still open, and i've got a shortlist at the moment, but nothing set in stone. I'll give an update in a week or so!
Sorry for the setback!
I both under and over estimated the emotional aspect of trading. I was so well prepared for trading on my new account i got very cocky and risky - i netted 25% in my first day. Ended up reading the markets wrong and seeing a trade which just wasn't there. I didn't apply basics and paid very heavily for it (about 50% of my account. yep. ouch.).
Lesson learnt there. So i'm changing everything around to show people why our brains act this way. I mean, more than anything i thought i'd be nervous, but i wasn't. I'm trying to find a sure-fire way to help people get over there emotions whilst trading, so we can cut the learning curve abit.
I don't want someone i teach to make an unfounded, stupid, simple mistake like i did. I still can't believe i fell victim to a chemical reaction in my brain.
So yeah, let me slow it down and give me abit to rebuild my account to get some more stuff scribbled down so others don't suffer. I know for a fact loosing some of your account straight away would put alot of people off trading, so i'm going to make it as easy as i can and hope for the best!
The position is still open, and i've got a shortlist at the moment, but nothing set in stone. I'll give an update in a week or so!
Sorry for the setback!
PhiltheBear
Junior Member
- Feb 17, 2008
- 197
- 96
jammie
Power Member
- Feb 24, 2008
- 773
- 459
heh, i know theres no shortcuts (only wise paths).
But i made *REALLY* silly mistakes like not checking next where support/resistance was. Yeah, i know.
So i'm sure other people would do the same so if i guide someone though like
"first, check support & resistance. Is there a possible entry?" or whatever. They'll check through it etc. and if i make a good check list of things to ensure every trade, it'll become habit.
Nothing worse than "Oh S**t! I'm out $200 'Cos I Forgot To Check The News!" when you know it can be avoided.
That's what got me. But know im getting the hang of it all. Hopfully by the start of next week i'll be back with my initial deposit. If not, i'll find out why and fix it! Practice makes perfect. Lots and lots of practice.
One way was to write a program in VB6 that changed the title to "Demo Account" so they don't realise its real money. Thats pretty bad though i guess.
But i made *REALLY* silly mistakes like not checking next where support/resistance was. Yeah, i know.
So i'm sure other people would do the same so if i guide someone though like
"first, check support & resistance. Is there a possible entry?" or whatever. They'll check through it etc. and if i make a good check list of things to ensure every trade, it'll become habit.
Nothing worse than "Oh S**t! I'm out $200 'Cos I Forgot To Check The News!" when you know it can be avoided.
That's what got me. But know im getting the hang of it all. Hopfully by the start of next week i'll be back with my initial deposit. If not, i'll find out why and fix it! Practice makes perfect. Lots and lots of practice.
One way was to write a program in VB6 that changed the title to "Demo Account" so they don't realise its real money. Thats pretty bad though i guess.
PhiltheBear
Junior Member
- Feb 17, 2008
- 197
- 96
Yes, there is. There's I'm out $200 but I know this position will reverse so I'm going to hold it...
Uncle Kracker
Registered Member
- Sep 15, 2008
- 89
- 186
Maybe I misread something in this thread but are you saying you tested your system/method for 4 years, and it was paper trading? You also had 59 successful trades in a row? Paper traders generally do not lose money, that is why you made the comments below:
The quotes above show where you're at as far as 'real time' market experience. Generally, when a wannabe trader cannot make cash in the market they get the urge to teach or create trading courses. Happens to everyone at first, you're doing your fellow BHW'ers a dis-service by *teaching them how to trade.* I hope you make me eat my words, for your trainee's sake.
Everyone has different ideas on how to trade and this is how I would approach it if I was just starting out again.
1) Beg, borrow or steal an eBook by Tom Williams called Master The Markets, it gives a very detailed description of how and why price moves (Price Action). Don't waste your time with the software. As an added bonus, for me at least, the author describes a situation that you could use for your high probability trade. Don't ask for what it is, read the book as many times as you need to see what it is. It needs to jump out at you and then you'll have it forever.
http://www.mediafire.com/file/fimgmji3mky/mtm.pdf
2) Get Ninja*Trader software because its free to use as long as you're not making live trades, it also uses Zen Feed for data. This is a great combination that will give you a very realistic simulator that keeps track of trades, fills, sharpe ratio, etc. (without the emotions of course). Alot of futures brokers will let you use their live feed as well, some for a month or two and others 5,6,7 months. I believe they also give you an indefinite free live forex feed if you want it.
3) If you're day trading you will need alot of screen time, there's no getting around it. I would spend the next year watching real time charts, if you have a good understanding of what's in the Master the Market book, eventually something will jump out at you that you can use. Ninja also has a playback feature that lets you record the day time session if you are not able to watch it live. Watch it playback the days session when you get home.
4) What comes next is live trading, at this point its you and the market, all your emotions, hangups, over confidence, know it all attitude,
refusing to take losses, taking quick profits, watching your money disappear, etc., etc., etc., etc. :yield:
Enjoy the journey,
Paper traders generally do not lose money, that is why you made the comments below:The quotes above show where you're at as far as 'real time' market experience. Generally, when a wannabe trader cannot make cash in the market they get the urge to teach or create trading courses. Happens to everyone at first, you're doing your fellow BHW'ers a dis-service by *teaching them how to trade.* I hope you make me eat my words, for your trainee's sake.
Everyone has different ideas on how to trade and this is how I would approach it if I was just starting out again.
1) Beg, borrow or steal an eBook by Tom Williams called Master The Markets, it gives a very detailed description of how and why price moves (Price Action). Don't waste your time with the software. As an added bonus, for me at least, the author describes a situation that you could use for your high probability trade. Don't ask for what it is, read the book as many times as you need to see what it is. It needs to jump out at you and then you'll have it forever.
http://www.mediafire.com/file/fimgmji3mky/mtm.pdf
2) Get Ninja*Trader software because its free to use as long as you're not making live trades, it also uses Zen Feed for data. This is a great combination that will give you a very realistic simulator that keeps track of trades, fills, sharpe ratio, etc. (without the emotions of course). Alot of futures brokers will let you use their live feed as well, some for a month or two and others 5,6,7 months. I believe they also give you an indefinite free live forex feed if you want it.
3) If you're day trading you will need alot of screen time, there's no getting around it. I would spend the next year watching real time charts, if you have a good understanding of what's in the Master the Market book, eventually something will jump out at you that you can use. Ninja also has a playback feature that lets you record the day time session if you are not able to watch it live. Watch it playback the days session when you get home.
4) What comes next is live trading, at this point its you and the market, all your emotions, hangups, over confidence, know it all attitude,
refusing to take losses, taking quick profits, watching your money disappear, etc., etc., etc., etc. :yield:
Enjoy the journey,
jammie
Power Member
- Feb 24, 2008
- 773
- 459
Phil, yeah ... i guess that it worse!
Kracker, i just got nervous and read the markets wrong >.< my system is fine, its just the human element introduced via emotion in live trading ... i just fucked up so i admit it.
I know quite abit about price action as thats the first thing i teach, i've paper traded for a lloooooonngg time and figured i was ready for live trading as i was very confident & knew it inside out. But when i went live i just froze i guess! I'll have a few reads of the book though, that never hurt anything.
I get alot of screen time, since may i've only been busy 3 weeks, rest of the time i've been sat in front of my FX, planning, tweaking etc. and thats just the last few months, it's been using all my spare time for years (via reading, trying things out etc.).
First few years i paper traded i lost money - until one day something i read just 'clicked' and everything made sense, i found a few systems i could use around it but they never really were as refined as i would like, then i ended up finding out what worked for me and thats this what i'll be teaching. I hope my students find a system they like which works for them too.
Give it a few weeks for the system to iron itself out now i'm not being retarded when i trade and we'll see how well its going. I aim to be back on target (full original balance in my account) mid way through next week. Once (or if) i get there, i should be in a position to show a few people the ropes of the trading system i use.
And i'll enjoy the journey every pip of the way i hope!
Kracker, i just got nervous and read the markets wrong >.< my system is fine, its just the human element introduced via emotion in live trading ... i just fucked up so i admit it.
I know quite abit about price action as thats the first thing i teach, i've paper traded for a lloooooonngg time and figured i was ready for live trading as i was very confident & knew it inside out. But when i went live i just froze i guess! I'll have a few reads of the book though, that never hurt anything.
I get alot of screen time, since may i've only been busy 3 weeks, rest of the time i've been sat in front of my FX, planning, tweaking etc. and thats just the last few months, it's been using all my spare time for years (via reading, trying things out etc.).
First few years i paper traded i lost money - until one day something i read just 'clicked' and everything made sense, i found a few systems i could use around it but they never really were as refined as i would like, then i ended up finding out what worked for me and thats this what i'll be teaching. I hope my students find a system they like which works for them too.
Give it a few weeks for the system to iron itself out now i'm not being retarded when i trade and we'll see how well its going. I aim to be back on target (full original balance in my account) mid way through next week. Once (or if) i get there, i should be in a position to show a few people the ropes of the trading system i use.
And i'll enjoy the journey every pip of the way i hope!
PhiltheBear
Junior Member
- Feb 17, 2008
- 197
- 96
Been there, done that, read the book, got the T shirt
:yield: doesn't begin to describe it
Hey jammie,
I've been in forex for about 3 months now but i must say i have been losing money, i used my personal money just to invest.
i know forex terms so it would be easier to communicate and i can help out in web designing your future product site because time is all i have now but not money.
I won't mind forking out my own money to be under your mentorship.
I'm 20 this year but im not from the UK thats the only downside i see. But i can speak pretty good english so there wont be any communication barriers there and i have skype.
So, please i hope you will consider me to be your student. Thanks so much for taking your time to read my request.
I've been in forex for about 3 months now but i must say i have been losing money, i used my personal money just to invest.
i know forex terms so it would be easier to communicate and i can help out in web designing your future product site because time is all i have now but not money.
I won't mind forking out my own money to be under your mentorship.
I'm 20 this year but im not from the UK thats the only downside i see. But i can speak pretty good english so there wont be any communication barriers there and i have skype.
So, please i hope you will consider me to be your student. Thanks so much for taking your time to read my request.
Rob the Builder
Regular Member
- Nov 12, 2005
- 243
- 177
God Jammie has some persuasion skills! Why would you want to be "mentored" by someone who has not traded live and suceeded?
Amazing
PhiltheBear
Junior Member
- Feb 17, 2008
- 197
- 96
jammie
Power Member
- Feb 24, 2008
- 773
- 459
i am trading live, but i'll admit it wasn't going as smooth as i had anticipated.
i lost 50% in the first day as i froze, as many of you know, im back up to being just 20% down from my original balance, thus gaining almost 75% in 2 weeks.
Had a good day yesterday, but today has been quite troublesome thus far, still profitable, but only just.
The markets aren't really moving in any direction so its hard to judge. i keep entering trades, they start to get profitable so i relax, then they start to reverse. I'm basically scalping at the moment, and i HATE scalping.
At least my broker allows it and lets me do it, so i can't complain really. I just want my original ammount back so i can start using my normal style again!
& you don't have to pursuade people if you're honest
i lost 50% in the first day as i froze, as many of you know, im back up to being just 20% down from my original balance, thus gaining almost 75% in 2 weeks.
Had a good day yesterday, but today has been quite troublesome thus far, still profitable, but only just.
The markets aren't really moving in any direction so its hard to judge. i keep entering trades, they start to get profitable so i relax, then they start to reverse. I'm basically scalping at the moment, and i HATE scalping.
At least my broker allows it and lets me do it, so i can't complain really. I just want my original ammount back so i can start using my normal style again!
& you don't have to pursuade people if you're honest