View Full Version : [OT] Nobby and High risk stock trading...
Hello there, I've discovered the wonderful world of stock and Foreign exchange trading !
After months of learning and tweaking strategies, I feel I'm ready and have placed 500 quid down to trade : o
50 p a pip, let's see how i'm doing in little over 40 minutes...
http://img230.imageshack.us/img230/8669/tradingym3.png
Tomorrow morning, I should have over 150 quid in profit :)
hour and half later... http://img220.imageshack.us/img220/5475/partyanyoneug4.jpg
Apocalypsox
28-01-09, 01:49
I do believe i might have to join you in said market.
Hell-demon
28-01-09, 01:51
:wtf: you fuck
you steal my positions shown there and i want "Donations" ><
Dribble Joy
28-01-09, 06:44
I seriously would love to get into trading, but I know shit all about it.
Powerpunsh
28-01-09, 10:01
Hmm,
i believe in 1 month later
"[OT]Nobby bought a new Porsche" :D
btw: you trade with currencies?
where did you learn about the stock market and how to actually get into buying and selling shares?
I find the stock market very intresting and have been toying with the idea of spending my girlfriends pension on it
It's more likely that in a month's time he'll be filing for bankruptcy. That's not because I don't think he's competent, it's just that if it were that easy everyone would be doing it.
I'd be interested to see this thread updated every so often with honest progress. BTW, I hope this wasn't your vehicle for offering guaranteed high interest investments a few weeks ago - how can you possibly guarantee payments when you can't guarantee income?
N
If you are really interested in working with the FOREX market and don't want to lose money I highly recommend a game with real live FOREX data, so you can play around as much as you want.
http://fxtrade.oanda.com/forex_trading/fxgame/
You can also create a real account on Oanda of course, a really powerful tool when it comes to trading if you know how to use all the useful graph tools ;).
Hmm betting on currencies?
Hmm definatly not for me - http://www.igindex.co.uk/spread-betting/risk-disclosure-notice.html just reading that is enough to put me off.
2. You may be called upon to deposit substantial additional margin, at short notice, to maintain your bet. If you do not provide such additional funds within the time required, your bet may be closed at a loss and you will be liable for any resulting deficit.
...I'll stick to StockX :p
Ok, my main secret of this strategy is basically risking shitloads of money through wide stoplosses... VERY WIDE !
So wide I noticed a flaw and had to widen my stoplosses to to cover the FULL 500 pound.
This is because i'm greedy, and wanted 50p per pip giving me an almost guranteed 100 pound at least a night. as with this strategy... I don't want 20p a pip... just 30 pound a day on average... ><
The market came up and almost bit my arse off, putting me in almost 200 pound loss, however this was predicted.
After Failing to keep my eyes open all night to watch to see how this would really unfold...
I alwoke to find all my trades... GONE???
Did they hit their stop loss and lose me 500 pound all because i fell asleep? >_<
Let's see...
http://img220.imageshack.us/img220/8541/day1126poundprofitkc1.png
is that £800 or £600 odd pounds, cant quite see.
So you have made a nice profit then?
why had they all dissappeared?
This is something that i am really intrested in nobby and would like to discuss with you if you woundnt mind.
They had disappeared because they had hit my "take profit" levels automatically :p
Giving me a profit of 126 pound.
500 -> 626
18% rise in one day.
Find a Bank that'll give you 15% in a year :p
i know a certain bank that can give u -100% instantly? :p
Powerpunsh
28-01-09, 13:23
do you have auto buy/sell?
Mighty Max
28-01-09, 13:26
do you have auto buy/sell?
Erm limit-orders are mandatory for trading, unless you like to ride the knife :p
If anyone is tempted I WOULDNT going into it unless you spend months and i mean months of perfecting your technical analysis.
80 % of people go into stock trading without any training.
95% Don't Profit on trading foreign exchange...
I'm part of the lucky 5% :)
Okay, you have gained my undivided attention.
First of all:
Here's my experience. I put £1000 on DAX Rolling Daily, and a £50 stake. It made me £275 in around an hour. I got lucky.
I'm one of the 80% that went into it with no experience. I have been wanting to learn this game for years, and have often looked at it, read various guides (which inevitably contain conflicting information) and actually had a go.
The aspects that are the most interesting to me, are trading commodities & currency exchange. However... I have no experience with these, nor a clue as to what to look for.
You claim that it requires "months of perfecting your technical analysis.". I don't believe this to be the case. Overly complex technical analysis & the mathematicians that utilise this method do not make money on the stock market, as a rule.
According to the most successful people on the stock market, trends CAN be easy to follow, overly technical analysis doesn't always do the job.
However, I am intrigued by your methods. I'd appreciate it if you could PM me with some study material for this, as I have struggled to get hold of anything substantial. If you know of any PDF guides, or have anything at all, please, let me know.
One thing I will say Nobby, is that you say 95% don't make money in currency exchange; that isn't really the case, is it? There are winners and losers in trading.... and in general, it's fair to say that 50% of people make money. I can see how this would not be the case with spread betting though.
Anyway, ignore the folks saying it's likely you'll be bankrupt (Sorry Nid). You may well have a nack for it Nobby.
I wish you the best of luck in your ventures :)
Hell-demon
28-01-09, 14:47
Fine I'll say it.
This is crazy. Nobby makes it seem easy and you all want to try?!
You understand the economy is being fucked over daily. It may seem good now but BOOM your stocks can bomb on you even if you predicted otherwise. I say get out while you can.
Find a Bank that'll give you 15% in a year :p
Such statements are invalid because you're not comparing like-for-like when it comes to risk, and risk is the key factor in determining return. Find a FOREX market that will guarantee that you even make a profit. :p
/edit - Again, I'm not saying that Nobby isn't up to the task. I'm saying that the task is far riskier than being portrayed.
/edit2 - ROFL - Nobby's not got a good history when it comes to this kind of thing! (http://forum.neocron.com/showthread.php?t=98750) (Sorry, Nobby!) :)
N
I'm not saying that Nobby isn't up to the task. I'm saying that the task is far riskier than being portrayed.
N
Oh, I absolutely agree. It's about as risky as betting on a football game. All the technical analysis and charts in the world couldn't tell you for certain. Something could be following a pattern perfectly, then crash and burn, along with your finances.
I'm not saying I want to try because Nobby has made £100 + quid. I made £100 this morning. I'm interested in learning how exactly it works; and what kind of information he's studied prior to leaping in.
EDIT - Lol Nidd, nice find :)
How old were you then Nobby? :D
Hell-demon
28-01-09, 14:56
Who here wouldn't want a shit load of money?
However, Nobby is lucky and smart, he has made a small little sum. That does not mean we can all get that success. Especially with the recession. Market is deadlier than ever.
Surely you can bet on declines as well as inclines?
That's the beauty of it ;)
and uhh... nice find nid lol
bless me... 5 years ago :p
about my 95% loss comment.
yes they would make some money surely (unless they were shit for brains), but lose more overall.
Surely you can bet on declines as well as inclines?
The problem is that the market is too volatile at the moment so when you say that you can predict how exchange rates will develop you're not factoring in the unknown quantity because you can't factor in the unknown quantity.
As I said, investment is all about risk. If you invest in something with low risk then, providing your investment is successful, you'll get your money back plus a little bit extra. If you invest in something high risk (like a startup company, oil prices, currencies etc.) then, again providing you invest wisely, you'll get your money back plus a shitload more.
The problem is that the chances of "winning" are far lower on high-risk investments. It's just like betting on the horses and we all know how "safe" betting on those four-legged bastards is, right?
An example of how messed up the UK economy is right now:
The classic low risk investment is something called a gilt (think gold). A gilt (or gilt-edged bond) is offered by the safest institution of all, the UK government, and when you buy a gilt you're effectively lending the government some money. In return for that loan the government agrees to pay your money back plus a little something for your trouble (with the emphasis here on "little").
Gilts are a cast iron solid investment because they have nothing to do with stock markets, currencies or anything else. You give money to the governmnet and they give it back to you later on plus a tip.
Here's where it gets weird. There are insurance companies who insure investors against bad investments (seriously!) so, for example, if you buy bonds offered by something like a bank you'll pay a certain amount to insure it against that bank going bump (if the bank goes under you won't get your money back, right?). If you buy insurance on gilts then it's typically dirt cheap because gilts are (remember) cast iron solid investments.
Not so these days.
Insurance companies are charging virtually the same amount to insure bonds from the Bank of Scotland (which is in dire financial difficulties and was once referred to by The Times as "The bank that sank") as gilts from the UK government! The belief is that the United Kingdom itself is just as close to bankruptcy as the Bank of Scotland!
Why anyone would want to invest in a market like that is beyond me.
N
Betting on declines is short selling isn't it? Thats one of the reasons we're in this financial hole we're in right now. A great example of why not to is VW, and how about billions of $'s were lost because of short selling which made VW the most valuable company in the world at one stage.
Short selling, you borrow stocks at say $100 and sell, betting the price will go down, the price goes down to $75 and you buy the stocks back at $75 and hand over the stocks you borrowed and sold for $100 making you $25. The problem with that is if the value of stocks rise to say $125, you have to buy them back at a $25 loss. Then you get into the "does the act of many people short selling reduce the value of the stocks due to so many people selling them".
Some people make lots of money, the richest fella in my town (he's so rich he wants to buy Lands End - but you didn't hear that from me) made his money investing in stocks, but as soon as he made enough he got out of the stock market and made investments with a guaranteed turnover, like hotels, pubs, clubs, property rentals.
In the current climate, property prices are dropping like a brick, people can't sell, the price of houses are dropping and dropping, eventually they will recover, it may take a long time though, during the big bang (wall street crash / great depression) it took 50 years for the US housing market to recover enough for someone who bought their house before the crash to have the value of their house return to the same level as when they bought it.
Ok, so house prices are dropping, but people will always need somewhere to live, which is why *now* is the best time to buy property. Not to sell, but to rent out, whilst the value of the house has dropped, rental prices should remain stable so you will get a much higher return on your investment. Get a good enough mortgage and you could be seeing a 5% p/a return on your investment.
£200,000 on a house, £1,000 p/m rental, thats £12k p/a, just over 5%, but house prices are dropping sharply, down over 12% here, so lets say 10%, that 200k house is now worth £180k but rental income is still £1k, its a real long term investment, but the rental income should cover most of the mortgage and once the mortgage is paid off, your income is all yours.
You understand the economy is being fucked over daily. It may seem good now but BOOM your stocks can bomb on you even if you predicted otherwise. I say get out while you can.
Currencies, not quite the same as Stocks in companies? (I'll leave the experts to comment on that, and I think Nobby is betting on the currencies from his screenshots)
There are couple of winners in the economy in these bad times. One of them is food retailing, as everyone still needs food, and also ASDA, Tesco's and Morrisons are expanding.
And I wish I somehow I bet on house prices taking a dive, I've been saying for years they would bomb at some point. I guess the old rule of what goes up must come down still applies!
Hell-demon
28-01-09, 15:52
Currency is just as bad. Pounds are worth bottlecaps (mmmm fallout), I hear Ireland is actually doing alright in these bad times.
Roughly 10% of the traders are experts, even they lose a lot of money ;).
Dribble Joy
28-01-09, 16:10
Currency is just as bad. Pounds are worth bottlecaps (mmmm fallout), I hear Ireland is actually doing alright in these bad times.
It can be argued that a weak pound is a good thing for us at the moment. It helps our exports and more and more people are coming to the UK to buy things. There was loads of French, Dutch and German shoppers over here before Christmas. One place (I think either in Wales or NE England) across from Ireland was accepting euros for pounds 1:1 and making a killing.
Regarding short-selling, isn't it also true that people are buying the shares as much as they are selling them? Which could cause them to increase in value after the drop from the selling.
Nice, informative post Nid.
By gilt-edged bonds, are you referring to Premium Bonds? I have a few £k of those. Sadly, the most I ever 'won' was £50...
...once.
I found this article on the current ecomonic situation which explains why short selling is a bad thing! Probably
Once there was a little island country. The land of this country was the tiny island itself. The total money in circulation was 2 dollars as there were only two pieces of 1 dollar coins circulating around.
1) There were 3 citizens living on this island country. A owned the land. B and C each owned 1 dollar.
2) B decided to purchase the land from A for 1 dollar. So, now A and C own 1 dollar each while B owned a piece of land that is worth 1 dollar. * The net asset of the country now = 3 dollars.
3) Now C thought that since there is only one piece of land in the country, and land is non producible asset, its value must definitely go up. So, he borrowed 1 dollar from A, and together with his own 1 dollar, he bought the land from B for 2 dollars. * A has a loan to C of 1 dollar, so his net asset is 1 dollar. * B sold his land and got 2 dollars, so his net asset is 2 dollars. * C owned the piece of land worth 2 dollars but with his 1 dollar debt to A, his net residual asset is 1 dollar. * Thus, the net asset of the country = 4 dollars.
4)A saw that the land he once owned has risen in value. He regretted having sold it. Luckily, he has a 1 dollar loan to C. He then borrowed 2 dollars from B and acquired the land back from C for 3 dollars. The payment is by 2 dollars cash (which he borrowed) and cancellation of the 1 dollar loan to C. As a result, A now owned a piece of land that is worth 3 dollars. But since he owed B 2 dollars, his net asset is 1 dollar. * B loaned 2 dollars to A. So his net asset is 2 dollars. * C now has the 2 coins. His net asset is also 2 dollars. * The net asset of the country = 5 dollars. A bubble is building up.
(5) B saw that the value of land kept rising. He also wanted to own the land. So he bought the land from A for 4 dollars. The payment is by borrowing 2 dollars from C, and cancellation of his 2 dollars loan to A. * As a result, A has got his debt cleared and he got the 2 coins. His net asset is 2 dollars. * B owned a piece of land that is worth 4 dollars, but since he has a debt of 2 dollars with C, his net Asset is 2 dollars. * C loaned 2 dollars to B, so his net asset is 2 dollars. *The net asset of the country = 6 dollars; even though, the country has only one piece of land and 2 Dollars in circulation.
(6) Everybody has made money and everybody felt happy and prosperous.
(7) One day an evil wind blew, and an evil thought came to C's mind. "Hey, what if the land price stop going up, how could B repay my loan. There is only 2 dollars in circulation, and, I think after all the land that B owns is worth at most only 1 dollar, and no more."
(8) A also thought the same way.
(9) Nobody wanted to buy land anymore. * So, in the end, A owns the 2 dollar coins, his net asset is 2 dollars. * B owed C 2 dollars and the land he owned which he thought worth 4 dollars is now 1 dollar. So his net asset is only 1 dollar. * C has a loan of 2 dollars to B. But it is a bad debt. Although his net asset is still 2 dollars, his Heart is palpitating. * The net asset of the country = 3 dollars again.
(10) So, who has stolen the 3 dollars from the country ?
Of course, before the bubble burst B thought his land was worth 4 dollars. Actually, right before the collapse, the net asset of the country was 6 dollars on paper. B's net asset is still 2 dollars, his heart is palpitating.
(11) B had no choice but to declare bankruptcy. C as to relinquish his 2 dollars bad debt to B, but in return he acquired the land which is worth 1 dollar now. * A owns the 2 coins, his net asset is 2 dollars. * B is bankrupt, his net asset is 0 dollar. ( he lost everything ) * C got no choice but end up with a land worth only 1 dollar * The net asset of the country = 3 dollars. ************ **End of the story; BUT
************ ********* ****** There is however a redistribution of wealth. A is the winner, B is the loser, C is lucky that he is spared. A few points worth noting -
(1) When a bubble is building up, the debt of individuals to one another in a country is also building up.
(2) This story of the island is a closed system whereby there is no other country and hence no foreign debt. The worth of the asset can only be calculated using the island's own currency. Hence, there is no net loss.
(3) An over-damped system is assumed when the bubble burst, meaning the land's value did not go down to below 1 dollar.
(4) When the bubble burst, the fellow with cash is the winner.
The fellows having the land or extending loan to others are the losers. The asset could shrink or in worst case, they go bankrupt.
(5) If there is another citizen D either holding a dollar or another piece of land but refrains from taking part in the game, he will neither win nor lose. But he will see the value of his money or land go up and down like a see saw.
(6) When the bubble was in the growing phase, everybody made money.
(7) If you are smart and know that you are living in a growing bubble, it is worthwhile to borrow money (like A ) and take part in the game. But you must know when you should change everything back to cash.
(8) As in the case of land, the above phenomenon applies to stocks as well.
(9) The actual worth of land or stocks depend largely on psychology.
By gilt-edged bonds, are you referring to Premium Bonds? I have a few £k of those. Sadly, the most I ever 'won' was £50...
...once.
No, premium bonds are something else. They actually have a "prize" though the winnings are usually worth less than the interest you would have got investing elsewhere. Don't feel bad though, approximately HALF of the UK have premium bonds, earning the government 38 BILLION quid!
/edit - about the weak pound increasing exports. The hidden problem there is that since we have almost no manufacturing capacity, and since raw material costs are sky high the cost of our goods tends to destroy any benefit we get in exchange rates. The net result is that we're not seeing the increase in exports that many were hoping for. :(
N
My target with this strategy of mine is to earn at least 100 pound a day, once my account doubles, I shall increase the pip worth by 50%, bringing my target to 150 pound a day.
with this type of increase every account double, I should be a millionaire in 20 weeks...
:p
let us all Laugh at Nobby's stupid ideas... bwahahhaha
Hell-demon
28-01-09, 18:39
No, premium bonds are something else. They actually have a "prize" though the winnings are usually worth less than the interest you would have got investing elsewhere. Don't feel bad though, approximately HALF of the UK have premium bonds, earning the government 38 BILLION quid!
/edit - about the weak pound increasing exports. The hidden problem there is that since we have almost no manufacturing capacity, and since raw material costs are sky high the cost of our goods tends to destroy any benefit we get in exchange rates. The net result is that we're not seeing the increase in exports that many were hoping for. :(
N
And the VAT cuts did sweet fuck all, seeing as most shops didn't reduce vat, or rather they did but on select items. For them reducing vat would make them lose more money. Bastards!
Hell-demon
28-01-09, 18:41
My target with this strategy of mine is to earn at least 100 pound a day, once my account doubles, I shall increase the pip worth by 50%, bringing my target to 150 pound a day.
with this, I should be a millionaire in 20 weeks...
:p
You think things are going to stay the same way for 20 weeks? o_O
They would, the VAT "decrease" was a con. Big companies charge VAT and reclaim it from the gov. The gov on the other hand decided that they would decrease VAT *but* would increase the tax on Petrol by 2.5% to make up for it. Now companies would have been able to reclaim 17.5% VAT from the price of fuel, but now they can only reclaim 15% and are being charged 2.5% extra on their fuel bills, so the cost of delivery is now 2.5% more expensive, the entire VAT reduction was nothing but another slight of hand.
maybe
I've been "perfecting" this little strategy for ageeees...
after putting it into effect (without money), I gained over 3000 pips in two weeks.
let us all Laugh at Nobby's stupid ideas... bwahahhaha
Personally I think you are mad for doing this, but I've got respect you for having the balls to go and do this thing.
If you know what you may be in for, then go for it and good luck! (Just be careful - Ok?)
So... you buying us all drinks at the next meet, when you made your millions? ;)
Hell-demon
28-01-09, 19:40
Do your parents know your doing this Nobby?
yes... to their disapproval, however seeing the money I'm making, their tone changed.
Hell-demon
28-01-09, 20:03
to "Your mother and I could do with a nicer house"
Personally I think you are mad for doing this, but I've got respect you for having the balls to go and do this thing.
Me too. I hope it turns out well for you!
N
Hell-demon
28-01-09, 20:13
Neocron needs funding...or you could buy it.
Dribble Joy
28-01-09, 20:52
/edit - about the weak pound increasing exports. The hidden problem there is that since we have almost no manufacturing capacity, and since raw material costs are sky high the cost of our goods tends to destroy any benefit we get in exchange rates. The net result is that we're not seeing the increase in exports that many were hoping for. :(
N
Do exports count as things other than material goods?
KK would never give up Neocron...
Especially to Nobby :p
like a wise girl once said
"this is going to hell reaaaaal fast" :D
lets talk about ur assets again in a month or so
Do exports count as things other than material goods?
Just think of the country as a company. Exports are anything it sells to people abroad (its customers) whether that be tangible goods or services.
N
Hell-demon
28-01-09, 23:48
like a wise girl once said
"this is going to hell reaaaaal fast" :D
lets talk about ur assets again in a month or so
Left4dead?
Zoey! (http://uk.youtube.com/watch?v=NW8tE93Vx8Q)
Left4dead?
Zoey! (http://uk.youtube.com/watch?v=NW8tE93Vx8Q)
That was hilarious.
... I actually tried reading this thread ...
after the first 4 posts, i started just skimming, then i started staring at links ... now I have a headache ...
... remind me never to try to read posts about money again ... it hurts my wallet just thinking of all the money some of you are just throwing away, hoping a magic boomerang will catch it in the sky and return it to you with everyone elses money ...
Apocalypsox
29-01-09, 01:29
I went and talked with a guy that sold his life-long investment a while ago for 300 million USD. after tax, he had 247 sitting in the bank. I went to look at the 400,000$ worth of cars he bought when he was drunk and sitting on a weeks worth of interest in the shit. Lucky guy.
Nobby's day 2 trade.
http://img185.imageshack.us/img185/7654/trading2et8.png
should get me 115 quid profit by tomorrow.
we'll have to see...
Nobby do you only have one strategy?
If you have more you can get a 200% profit 1-4 times a month if you know what you are doing.
if I am able to get 100 pips at least profit a day.
I may be prepared to attempt doubling account each week.
20 weeks like this consecutively and i'll be a Billionaire.
But we all know I won't be THAT lucky... ^^
btw, trade is at -120 pound atm.
predicted to raise to profit at 2pm
The more I consider this, the more fearful I am at the though of attempting it. Sure, I COULD make myself some money... Or... I could lose what little spare cash I have, and fast.
I wish you the best of luck Nobby. I'm also very impressed that you've managed to come up with, and perfect a strategy.
May I ask... How do you even begin to come up with a strategy? Is it a case of watching for a trend over a period of time?
This has become more of a curiousity to me than a wish to get involved. I'd still appreciate any info you could give me though, to settle my curiousity.
It does kill cats you know.
Mighty Max
29-01-09, 12:32
if I am able to get 100 pips at least profit a day.
Exchange those two words against "with luck".
The "at least" is some hundret pounds lower :p
btw, trade is at -120 pound atm.
predicted to raise to profit at 2pm
So while you predicted all this, why didn't you order better?
Allways keep in mind that behind a win for one is a loss for someone else. And you are competing against instances with a lil more exp and money.
There are a lot of ways to predict the way the graph is going.
One of them is the media, which influences the currency market a lot. You see an article in a big newspaper saying that the currency is dropping in value, I'll guarantee you that the graph will spike downwards for a while, if you are fast enough you can make pretty large profits...
Then there are the terrorist attacks which you can make a HUGE profits on, but then there is morality so it's up to each individual if you want to profit from that.
That's just a few "safe bets" I mentioned and there are a lot more which are my deepest secrets :p
is it strange that I believe people should actually produce in order to get any kind of monetary reward? producing either product or services, but tbh, just making money like this is leeching off people that actually produce...
True, however when you work 50+ hours a week AND go to college, you kinda look for a way out...
http://www.gm-volt.com/wp-content/uploads/2007/07/lose_money.jpg
May aswell throw it away
http://www.doughroller.net/wp-content/uploads/2008/07/how-to-lose-money-investing.gif
Easily as addivtive as fruit machines, the horses, online poker......
89 pound profit finally, total 215 pound profit in 2 days :]
http://img339.imageshack.us/img339/723/trading3om2.png
here's my trades for day 3.
Feel free to copy me if you wish bearing in mind i'm not liable for the risk you take by doing so.
Any profit percentages are happily welcome to me :p
new trade for day 3 put on at 7am
Sell order - GBP/CHF
Hell-demon
30-01-09, 15:19
Careful Nobby. Get out while you still can...
RUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUN!
Humm nicely done, though I would stick to high volume low margins or you will lose sooner or later.
Powerpunsh
02-02-09, 00:49
Hmm? So much silence here. Currencytrade closed over the weekend?
That is correct.
I'm not planning any trades tonight as when the markets open... they turn stupid :p
edit: the last trades i did ended with a 30 pound loss.
meh
Market was reacting to something major that day.
GBP/USD went by by 4 cents : o
pretty major
There were 5 possible trades I could have done last night.
I took up on 3 of them.
four of the possible five could have made me over 350 quid profit.
however only taking three, I got little over 105 profit with another trade currently at minus 35 pound loss.
I'll let it carry on tonight.
How did you "learn" this ?
What services/tools do/did you use ?
Now i DO feel old! nobby the youngling of the forums turns it around to be a wheeling dealing trade playah. :p
Got to agree with Bram and Nid, i don't think i could ever gamble my hard earned money in such a way (besides being the magpie i am i like to buy shiney things when the bank account gets to a certain level, stupid temptation :() but seeing you reap rewards so far from having the clems to do it; i hope it all stays way into the black for you nobby!
For some reason i eagerly await your next update :wtf:
How did you "learn" this ?
What services/tools do/did you use ?
The art of "Technical Analysis."
Looking at graphs, find a "trend" and work out a sucess percentage of chance that "trend" happening again.
It's really just gambling... but cleverer gambling.
Some strategies people come up with, can seem silly, but might have worked like 20 times in a row.
e.g. Only "buy" if it goes up 80 pips before noon...
if out of 100 trades, it works 80 times. your strategy has an 80% chance.
I won't disclose my strategy, as I could become shit hot rich just giving out what I already gave out in screenshots... : \
maybe I should charge a "subscription" :p
If you're interested in learning, I recommend you starting at having a look at "currency trading for dummies" as I noticed this got released recently.
Also search "forexclub" or "fxclub" on youtube and watch their videos from the start.
Very good starter materials.
Also on the forex club website (After you've seen the youtube videos) they have very technically described methods of technical analysis in videos which are over an hour each long.
That's all you need to learn really.
I nearly stupidly got a loan to pay for a "stock trading course" in london for 2K when I found out all you need to learn (and also everything they taught) is available via the net.
use this !
You can test your strategy on "demo" trading accounts, however i don't think they're good enough in accuracy, so i would use "Live" charts, pretending trades, to test your strategies on.
As on a demo account, any tom dick or harry can put on a trade of 4 billion pound and screw up the shown market, compared to the live real thing.
Print out the day charts on a friday night, plan a strategy on paper, with stop losses and take profits for protection.
Then after the monday, see if your strategy worked.
Good luck :D
If you want to play the markets in a risk free environment that is *not* effected by other players (i.e. you're betting on the "real" stock market with fake money) try http://www.umoo.com/
You can bet on stocks going up, or short sell, I made over £1,000 in one day on my first try, though I wouldn't bet real money. Its all based on the US stock markets, not sure if it does currency. I just find Apple and short sell, though Yahoo was taking a dive and as soon as I tried a short it recovered, not very nice of em.
/edit - I'd actually recommend trying a virtual simulator before going anywhere near a real one.
I've played arround with a game account on currency trading today a bit.
So, you say you're just doing it by analysing the graph and trend ?
I think i ll try it with real stocks. (Through a game first of course)
Anyone knows a good tool/website for this ?
Also i read that most providers charge money for selling/buying orders.
Any way to get through without paying these ?
I'm going to try Lexxuk's one tomorrow, though it seems you can't use it to get in with "real" money after playing enough.
umoo is more like a poker tourny, you can win prizes if you win the most but really I'd only use it as a taster and play the free games, its good to get an idea on how the stock market works, a bit like practice really, and as its play money when you lose it all you can be like "hot damn, so glad I didn't lose real money on that!" or if you win a billion go "oh [censored]!"
Hint for you, Seagate's stock is going to dive tomorrow, short sell!
You can test your strategy on "demo" trading accounts, however i don't think they're good enough in accuracy, so i would use "Live" charts, pretending trades, to test your strategies on.
As on a demo account, any tom dick or harry can put on a trade of 4 billion pound and screw up the shown market, compared to the live real thing.
Not good enough in accuracy? Oanda is using live data for the "demo accounts". I provided the link on page 1 or 2 I think.
Didn't do anytrades on the wednesday.
However last night was My BEST night so far.
Sell EUR/JPY- profit taken at 15 pound
Sell GBP/JPY- profit taken at 25 pound
Noticed that the USD/SEK suddenly had a MINIMUM stoploss of 385 pips so a major event must have been unfolding, I took a look at the chart and quickly made a sell order without a take profit level...
GOT A 400 PIP PROFIT IN LESS THAN AN HOUR !!!
200 quid ! :p
overall that day 240 quid ^^
Hell-demon
06-02-09, 16:32
I'm wishing AIDs on you right now... :wtf:
i see your aids and raise you african bum disease
Hell-demon
06-02-09, 18:41
A much better fate (http://www.rathergood.com/demon) perhaps?
Noticed that the USD/SEK suddenly had a MINIMUM stoploss of 385 pips so a major event must have been unfolding, I took a look at the chart and quickly made a sell order without a take profit level...
That was probably because it was all over the news yesterday that Volvo had lost over 300 million dollars because of the economic crysis :P.
bleh, i'll tell you a secret...
I never have done economics and I can't understand any economic news...
For example today, on ransquawk, news broke out that a company had discovered an oil well in south Mexico...
I thought to myself... does this mean that as there's more oil now, there'll be more supply, - more expensive, or because there's more oil to be had, it'd be cheaper?
I don't have a single clue, i'm not a fundamental analysist.
I've read that traders who have a phd in economics end up bad traders due to over analysing everything.
And the "retard traders" are better able to control their emotions and be more diciplined in their trading.
meh...
Generally speaking, Oil is protected by a cartel - Opec, who will try their hardest to screw us for as much cash as possible by restricting oil. If a new source is found its good news, but people are not buying much oil right now so the price is in the pan, this is in part due to the economic meltdown that the world is experiencing.
If Opec limit supply, prices go up, if Opec supply more, prices should go down, but that hasn't been true recently as China was happy to get as much oil as possible, along with India, to help with their growing manufacturing capabilities. However, with the economic downturn, people are not buying much so China and India are getting less cash so are in turn buying less oil.
Oil prices are generally linked to the $, the Petrodollar with only a few countries chosing to buy/sell oil in €, this is good for the US as if they need to buy a billion dollars worth of oil, they can just print the money, but if its in € then they can't, they need to sell items for € or buy € with $ to pay for that oil. Its no surprise that after Iraq the US changed their oil sales from dollar to euro costing Iraq something like $70 gazillion billion in lost revenue from it.
Its all incredibly complicated, imagine chaos theory, if a butterfly flaps its wings in Dudly, in Japan a Samurai will rush someone with a sword and steal their McSushi and in Rio it'll rain frogs.
If you want a *real* lesson in how to lose $10 billion, go read on on VW and how hedge funds lost over $10 billion due to greed.
That was probably because it was all over the news yesterday that Volvo had lost over 300 million dollars because of the economic crysis :P.
Why on my platform show that volvo's stock price went up by over 600 pips in less than 2 minutes during that day?
I really don't understand this.....
Why on my platform show that volvo's stock price went up by over 600 pips in less than 2 minutes during that day?
I really don't understand this.....
Shorting stocks artificially manipulate the market. Volvo stocks are going to drop so people sell stocks at, say, $25. The price drops on the news (which is kind of to be expected in the current climate). Now the people who sold the stocks at $25 don't actually own any stocks, they borrowed them from their friends. The price drops to $20 so the people who have sold stocks at $25 now are in a mad rush to buy back the stocks before the price recovers.
So you have lots of people buying lots of shares which.... pushes the price up.
Or it could be that the loss that Volvo posted is in line with earlier predictions, or even better than early predictions, whilst other car companies are posting losses in the same sort of numbers usually reserved for after the decimal point in Pi, Volvo has only a small loss.
All car companies are posting a loss, even some that have *never* posted a loss in their history. Honda, Toyota, big names - they are posting losses, and iirc Honda posted their first loss since WW2.
If you're going to dabble, find a market which you can research about, find out what makes that market tick and what will influence the prices, you can try and bet on different areas, but thats like betting on the horses, the dogs, F1, WSB and the world conker championship.
on that note, in 2001 i think it was, my friend won the world conker championship and went on blue peter :p
All he got was a blue badge... no money or anything for being WORLD CHAMPION... oh well ^^
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