Bull Monday 41 point #dividend buy the dip till Wednesday

31 Comments

1. Closed my dax position at 12290, failure to hold 12300 could not be forgiven. Made 2% in 2 weeks so thats OK. Fully in cash.

   1. 2%??? Looks quite little to me. I did 60% in 2 month and withdrew. 2% is like 20 quid for me.

      1. yes but 2% to him might be 200k!

         1. Still, what’s the point of having all those money on the account if you only make 2% on it in 2 weeks. He doesn’t risk with those 90% anyway. I heard from the seminars that on average a good trader makes 30-60% increase on the account per month.

            1. Jut my view,i think the point really is why should we risk everything week on week to achieve 60% profits? Every trade has a probability and that alone should dictate the size. A 2% profit every fortnight if achieved consistently can do wonders for your account!

            2. Seriously? Someone actually spouted that!?!? They should be teaching all the fund managers around the world as they only manage 10, 20, 30% a year!

               1. If that 🙂

                  1. Exactly!

               2. Lol, they’re exaggerating their returns for sure but this can’t be compared to fund management IMO.. They’re long only, benchmark obsessed, have to keep portfolio churn down to a minimum so never going to make the returns a good trader might make

               3. Yes. In one of the Russian tutorials I heard this information encouragement. 30% was considered a cautious approach and referred that only women could do that and some men good traders can do 60-80% a month, it was stressed. But the strategy was quite agressive too with sudden increase of stake on some positions. I thought it was quite impressive.

2. Ftse is having a snooze today by the look of it!

3. Afternoon chaps I think we will be through 7600 by weds ….it’s all set up for a big push up in my eyes…good luck …

   1. 7540-50 next resistance area now. Above there it will probably test 7600. Downside support at 7490-500 area. As Nick says, divi will support this week but they never make it easy…could be a bear Tuesday down to 7500 which needs to be bought?

4. Afternoon all. Stil holding shorts

   1. Hey Icarus :0) we should change our usernames to yin and yang :0)

      1. 🙂

5. Cabless falling. 7555 later

   1. Yep…

6. According to IG 82% are short on FTSE. Sometimes I wonder if they make it up to encourage you to trade the wrong way.

   1. Those are all the mugs, when that figure creeps up to 90% it will rocket!

      1. It’s a shame that all the newer traders get sucked into the short side to feed the investment banks…..the smart money can only win if the dumb money is already positioned……still it takes time and experience to learn if it was easy everyone would be doing it… it will take a dive but I don’t think just yet …..wouldn’t surprise me if we hit 7750 next…

         1. I remember specifically a long I took on the Dow late on a Friday evening last Dec…..it was just above 18000 the Dow…..what is it now 22113 :0) 3000 pts in 8 months :0) lol!!!!

   2. It’s a bit of a pointless data point tbh.. It’s done by the number of traders so most of them will be doing £1-2 a point and losing small amounts of money. If the market goes up more then would expect the short % to increase as most people trade the ‘it’s gone up a bit so I’ll sell or it’s gone down a bit so I’ll buy’. Even if they get stopped more will sell again. The only way it will turn to more than 50% longs is if there’s a correction when they will mostly start to buy in again too early

7. 2% in 2 weeks is an excellent return on capital, beats most annual returns!
   So Nick and Icarus are correct, those kinds of results compounded produce amazing results, far outstripping any return available elsewhere. Show me someone promising 30% a month and I will show you a liar / thief / conman….take your pick.
   And anybody who believes even 10% a month is consistently achievable is gullible in the extreme.
   In the last 4 months I have made about 22K simply buying stock and gold ETFS.
   I think the largest position I had was 180K. Smallest is 50K. No real costs with ETFs apart from 7 quid commission.
   No losses were made. Largest running paper loss was about a grand but soon turned around.
   Average win size is about 2%, largest single win was about 4%.
   Average trade duration is about 3 weeks although lately 6-7 days more frequent.
   Average time out of market ie fully restored to cash is also 6-7 days.
   Long only. Shorting is too expensive and too risky.

   1. Agree with this to some extent CM. I’m targeting 100 FTSE points a week on average which equates to 5-6% returns on an unleveraged basis per month. Touch wood I’ve managed to achieve it for the last 3 years or so in what’s been a fairly varied set of market conditions, so confident that can be done over the long run. When you throw in leverage its definitely possible to be hitting 10% or so a month. However, I think this is around the long run limit.. 30% would require overstepping risking 1-2% of capital so it’s inevitable when a losing run comes the gains would be lost. That’s not to say there can’t be the odd 30% up month in a risk controlled way if there have been some big moves, just that it’s unlikely every month. Would also say that to be hitting my target I need to take both longs and shorts usually. Been long only would cut my returns significantly. More than one way to make money from this game so people just need to find something that works for them, but some things will definitely lead to ruin such as adding to losers, over leveraging and not using stop losses

      1. Mcg …I was just wondering? Why did you leave your job in the city? I would have thought it would be fairly lucrative with no personal risk….we all spend a lot of screen time anyway trading as individuals ? And the other thing that I don’t quite understand Is ?….you have been trading successfully for three years what is the forum giving you that you don’t already know? Just wondering?

         1. I thought you said you came back home to Sheffield back end of last year from the city…to start trading on your own? I must have missed something somewhere….?

            1. That’s right.. Traded properly alongside work for 2 years and that was a bitch to manage the schedule, stress levels were through the roof!

               1. Yeah the stress is a killer….I think that is the most dangerous part of trading..most important thing we have is our health ….and if that’s ok then the second most important thing is our time….

         2. I worked in asset allocation research, was ready for a change of roles so decided to focus on trading full time. Job was ok, money was good but it’s not really a dream to work for a company forever. Plus I’d had enough of the commuting and long hours. If you could guarantee money from trading there’s no better job as can do it from anywhere in the world and work whatever hours you want. Always good to diversify income streams so planning on investing the proceeds of this into stocks and property, but just waiting for a recession to provide a buying opportunity. Then jack it all in at 40 and live off the income – that’s the plan anyway . With regards to posting, would say firstly it’s just something to do as there’s a lot of sitting around and waiting involved. I’ve not changed any of my positions since 11am this morning but still been watching the 10 point range all day. Secondly I’d say when I first started I wasted a lot of time following people and not learning how to read price or focusing on risk and trade management. When I post I’m trying to explain my thought process rather than enforce a view. The markets are always a two way bet even if they feel like they will trend forever. When people comment sometimes you can see a mile off that they’re doing something that somewhere down the line is going to go wrong, so I point that out before it happens. Dunno if people find it annoying but kind of wish I had that when I first started out as it would have saved me a couple of years of the wild swings and eventual losses

            1. Thanks for your detailed reply…I understand now…..you are obviously very knowledgable and way ahead of most of us on here…but yes sometimes the interaction with other traders is welcome as it can be quite uneventful and tedious sometimes…. Appreciate your comments and guidance best of luck ….from my own experience and from what other sources say it takes a number of years to be consistant…

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