Balling
Premium Member
Registered: 7th Apr 04
Location: Denmark
User status: Offline
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24 drums of oil... shit just got real. 
Crapping my pants here. 
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stevenc89
Member
Registered: 6th Apr 09
Location: East Kilbride
User status: Offline
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i know what you mean mate haha imagine losing everything no wonder so many kill themselves
see if you became a full time trader i wonder if you would just register yourself as a company and pay tax and stuff!!
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stevenc89
Member
Registered: 6th Apr 09
Location: East Kilbride
User status: Offline
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quote:
Originally posted by Balling
24 drums of oil... shit just got real.
Crapping my pants here.
haha thats awesome!!
you in demo mode or did you go for real money?
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Balling
Premium Member
Registered: 7th Apr 04
Location: Denmark
User status: Offline
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Real money...
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VrsTurbo
Premium Member
Registered: 8th Jun 10
User status: Offline
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Making a loss of £9 on my real stuff atm 
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stevenc89
Member
Registered: 6th Apr 09
Location: East Kilbride
User status: Offline
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oh christ.... lol
keep us updated
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stevenc89
Member
Registered: 6th Apr 09
Location: East Kilbride
User status: Offline
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quote:
Originally posted by VrsTurbo
Making a loss of £9 on my real stuff atm
not best to close them? is there sign of recovery?
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Balling
Premium Member
Registered: 7th Apr 04
Location: Denmark
User status: Offline
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quote:
Originally posted by VrsTurbo
Making a loss of £9 on my real stuff atm
Think you'll be able to keep the car?
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VrsTurbo
Premium Member
Registered: 8th Jun 10
User status: Offline
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quote:
Originally posted by stevenc89
quote:
Originally posted by VrsTurbo
Making a loss of £9 on my real stuff atm
not best to close them? is there sign of recovery?
Nah i'll stick with it.
I have Vodafone, Nokia, Natural Gas & Unilever.
Gas doing the worse! -£6
[Edited on 07-09-2012 by VrsTurbo]
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Balling
Premium Member
Registered: 7th Apr 04
Location: Denmark
User status: Offline
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quote:
Originally posted by Balling
24 drums of oil... shit just got real.
Got cold feet and cashed in with only a 6£ profit.
On the plus side, I've now managed to turn a 15£ start up bonus in to 39£. More free money to play with. 
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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I've just signed up a demo account.
If I find I'm actually any good at this stuff (I probably won't be), can I convert the account into a real one and still get that £20 free?
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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quote:
Originally posted by Sam
I've just signed up a demo account.
If I find I'm actually any good at this stuff (I probably won't be), can I convert the account into a real one and still get that £20 free?
I played with the £20, then stuck £100 in, and it gave another £20, plus another £10 just now for uploading a picture of an ID. I've done it with my driving licence with the licence number blanked out, and it was accepted.
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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I can't wait to make my first million.
*rubs hands together* 
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stevenc89
Member
Registered: 6th Apr 09
Location: East Kilbride
User status: Offline
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so whittie have you made 59 quid mate
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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Finished on £212.69 (Will go up and down atm, as I have some shares in EA and Natural Gas),
I got an extra £10 bonus earlier for proving my ID. I sent driving licence with numbers blocked out, so they could see name, address and dob. They accepted and gave an extra tenner, winner!
So anything over £150 now, is profit
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Balling
Premium Member
Registered: 7th Apr 04
Location: Denmark
User status: Offline
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quote:
Originally posted by Whittie
(Will go up and down atm, as I have some shares in EA and Natural Gas)
What did you buy natural gas at? I cut my losses early, when it started going south. Good thing too, has only gone worse.
Did you get oil near the 94,07 mark?
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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I'm really tempted to deposit £100.
Ive made 6 completed trades in 3 days and made 10%
Nokia are not far off even for me now. If I can bring that back to a small profit I'll be very happy. I haven't closed a trade as a loss since I started taking it seriously.
Gold In march was 400ish now 1700ish. Imagine money in that long term :O
Adult GiftsClick here to vist us
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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Also. Before I started taking it serious I spotted Vedanta at 878. Everything looked perfect. I kept them for a few hours and sold for 50p profit had I kept them. I could sell now for 979 which would be £100 profit.
Let's just say I wanted to trade left right and center to get a feel for it lesson learnt
Adult GiftsClick here to vist us
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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Do you guys do day trading or do you leave it and pay the night premiums?
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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Depends how it goes. If its losing money or on the up etc I've been paying the couple of pence premiums.
Adult GiftsClick here to vist us
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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Signed up for a demo account.
Of the £20k they give you ive invested £5k and up £800 after a day so far but the stuff I've invested in I aren't expecting to make a big profit on till after the iPhone release (not apple).
[Edited on 07-09-2012 by A2H GO]
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John
Member
Registered: 30th Jun 03
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Hope it's not on sharp.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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Zynga, Yelp and Facebook, which should all go up with ios6.
Up £1k now, really don't get this at all.
[Edited on 07-09-2012 by A2H GO]
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Paul_J
Member
Registered: 6th Jun 02
Location: London
User status: Offline
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quote:
Originally posted by Dan
Taking a decision on when to cut losses and when to take profit is something I don't get yet.
Any pointers Paul?
Bearing in mind we are day trading I would assume its classed as?
I can see these Nokia shares proper killing me. Preying for a recovery when the market opens lol
I used to trade Forex daily (occasionally letting it roll over), I learnt technical analysis, indicators, basic patterns etc - but the problem with technical analysis is that it's about looking at what has happened and trying to predict based on that, what will happen. Unfortunately, the market is often doing a 'random walk' and it's hard to predict what it will do, so either you follow technical analysis and it completely goes the other way, or you follow it and because everyone else is looking for the same thing and it does move as expected...
It was only after watching the charts every day, that I got a feeling of exactly where it was going and could start predicting a bit better. Even so, you still get it wrong and the market changes - what would work in a volatile market doesn't work in a stable one and visa versa.
I made some quick money and it was fun, but I had to stop doing it for 2 reasons, 1 ) it sometimes felt a bit too close to gambling and I was staking more than I should to sometimes gain very little and 2 ) It literally consumed my time / life.
I couldn't stop watching the charts, especially when I had open positions - therefore I was unable to do my job and there was a period where I was sitting at work with charts on my 2nd screen, trading app on my phone and I was getting caught out by my colleagues / bosses watching the charts / making trades instead of working. Infact, one time I got interrupted when I was expecting the market to shift and I needed to close a position, but I couldn't do it while this colleague was talking to me, I was itching to check my phone... by the time he stopped talking to me I had lost a bit - I wanted to punch the guy in the face haha
You'll notice you can make more money easily on the play money games online than real money trading. This solely comes down to your emotional influence on decisions. Equally, you could argue that a lot of it is luck, I may make $50,000 randomly trading and you may lose $50,000 randomly trading... then a year later we may reverse with me losing and you gaining.
That said, from what I know, the consistently profitable day traders generally decide on a system and they stick to it, ignoring emotions. They place their limits and stops based on what they believe their system will predict and if it goes against what they expected, they cut their losses small and let their profits run.
I read once that a good bank roll / risk management would be to expect to make money on 1 in every 3 trades, but expect to make at least 3 times the amount risked per 'winning trade'. Thus, you may be wrong more often, but when you're right you make more than your original cost = profit. (this is the opposite of how most rookies trade).
One day trader I know, basis his system on bogus press statements. If he see's some press that he believes is garbage and the stock price goes up, he shorts their stock on the expectation the price will come down after the hype has settled.
Other trading strategies may include looking for pairs of stocks that trade in a synchronous pattern, moving together in parallel (the effectors on one is the same as the other), if one of them suddenly changes drastically, you would expect it to return to the original pattern and thus you can trade the difference as it goes back to where you'd expect it to be.
Loads of forums / things online... to be honest, most of the books people really recommend are based on emotions / strategy / risk / bank roll management. You won't find a 'system' you can just apply - even if you did find one, it would be dependant on how the market is currently moving.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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quote:
Originally posted by A2H GO
Zynga, Yelp and Facebook, which should all go up with ios6.
Why?
I assume Yelp because of the iOS maps integration, but that was made public ages ago, so they will have already seen the affects of that in their market value.
[Edited on 08-09-2012 by James]
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