I find the content of your post shocking Euler.
You are still not 50!!!!
Ho ho ho ha ha ha
What's Your Stress Relief for a Nasty Bad Trade
Hi mate09mate09 wrote:It is amazing that I still feel such a mug, especially looking at guys on here who spend hours at a PC and not trade, or trade with small small stakes to win a quid an hour or something like that? I think the lottery guy is the exception but don't you guys work? Have kids / bills to pay. Please don't say that if you can't afford to lose then don't play - I Know all that but surely there is no point trading if you don't want extra cash? You can't surely do it to avoid the pain of boredom?
I think most people that come on this site are looking to make money, at this time i'm in fulltime employment and learning to trade at night and the weekends.
I spend about 15 hours a week trading with a bank of £100 and make such a small amount of money that you could class it as slave labour
And yes trading can be boring think thats one of the things that make people fail at it, i also think people start trading with small banks of a few hundred quid and think there gonna make loads of money
From what i've learned so far you would need many thousands of pounds to make even £50 a day.
Anyone starting out and looking at this, one bit of advice are you looking to make money or are you just doing it for fun? if your just doing it for fun it will cost you money, if your looking to make money trade little and spend most of your time watching the market its amazing what you can learn by just watching.
Just FYI it is possible to make £50 a day with far less than even £1000 if you know what you're doing. Trading with smaller stakes is a lot easier in the scale of things, so you can make much more in terms of bank % return than if you used larger stakes which stick out and make you far more likely to end the trading session with a sore backsidemarko236 wrote:
From what i've learned so far you would need many thousands of pounds to make even £50 a day.
Maybe i'v still got alot to learn.marko236 wrote:Just FYI it is possible to make £50 a day with far less than even £1000 if you know what you're doing. Trading with smaller stakes is a lot easier in the scale of things, so you can make much more in terms of bank % return than if you used larger stakes which stick out and make you far more likely to end the trading session with a sore backside
But i think trying to make £50 a day with a bank of less than £1000 is risk taking which i feel would lead to most traders to eventually loss there bank.
I'm talking about pre race trading personally, so I can't comment on other sports which I don't do and which are more volatile and I suppose require more risk per trade.... but on pre race horses if you use small amounts giving a small win/loss per tick size and you don't double / treble up or let it go in play and are disciplined then you can at least avoid losing a lot. IMO it would be far more dangerous if a newbie stuck a few grand in his account and started using it.
It's best not to think too much about the money tbh. I know thats the reason we're all here but it's counterproductive.
It's best not to think too much about the money tbh. I know thats the reason we're all here but it's counterproductive.
Are you talking about making £10 from a £100 bank per day?LeTiss 4pm wrote:No question about that, hgodden
Good traders could easily make £10 from a £100 bank, but making £2000 from a £20k bank is an altogether different proposition
The way i'm trading i could possibly make £10 a day but i wouldn't say it's easy, my target is £3 per day for a £100 bank.
marko236 wrote:Are you talking about making £10 from a £100 bank per day?LeTiss 4pm wrote:No question about that, hgodden
Good traders could easily make £10 from a £100 bank, but making £2000 from a £20k bank is an altogether different proposition
The way i'm trading i could possibly make £10 a day but i wouldn't say it's easy, my target is £3 per day for a £100 bank.
I think this is an important subject for new traders to consider. Going for £3 from £100 bank seems a good goal and achievable. I have tried going for between 10 and £15 but results in me making some bad decisions.
How much would other traders be happy with making per day from a £100 bank?
£100 is a small bank, so your heart doesn't race too much, causing you to make rash decisions. It's also a small amount, so you don't spook or distort the market, and also you don't have to worry about only getting part matchedmarko236 wrote:Are you talking about making £10 from a £100 bank per day?LeTiss 4pm wrote:No question about that, hgodden
Good traders could easily make £10 from a £100 bank, but making £2000 from a £20k bank is an altogether different proposition
The way i'm trading i could possibly make £10 a day but i wouldn't say it's easy, my target is £3 per day for a £100 bank.
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JollyGreen
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This reminded me of a trade the other day. I was trading out of a position with around £600 and I was left with £0.01LeTiss 4pm wrote:
£100 is a small bank, so your heart doesn't race too much, causing you to make rash decisions. It's also a small amount, so you don't spook or distort the market, and also you don't have to worry about only getting part matched
I kid you not there was £0.01 unmatched and even though the price stay at the price for the next 15-20 seconds the £0.01 remained!! I meant to grab a screen shot of it but I was so much I forgot to do it!!
Its expectations and reports of others making big cash amounts that deflates those traders who are making small cash amounts.
Traders in many cases are making the same tick profits of between 2 and say 6 ticks but the amounts some are risking are much greater having built their banks over the years, or started with bigger banks.
When someone lays £2000 at 3.00 and backs at 3.25 it a profit of £150.
When someone lays £2 at 3.00 and backs at 3.25 its a profit of .15 pence.
The % profit and tick size are the same so the newer trader needs to spend time building their bank(slowly)and learning everything, so that the amounts they can safely risk grow.
Dont worry about reports of big wins from others, or blogs that show the money someone else has made, and just concentrate on your own trading.
Donald Trump will always have a bigger trading bank than me, but it makes absolutely no difference to the amount of money i can make.
Traders in many cases are making the same tick profits of between 2 and say 6 ticks but the amounts some are risking are much greater having built their banks over the years, or started with bigger banks.
When someone lays £2000 at 3.00 and backs at 3.25 it a profit of £150.
When someone lays £2 at 3.00 and backs at 3.25 its a profit of .15 pence.
The % profit and tick size are the same so the newer trader needs to spend time building their bank(slowly)and learning everything, so that the amounts they can safely risk grow.
Dont worry about reports of big wins from others, or blogs that show the money someone else has made, and just concentrate on your own trading.
Donald Trump will always have a bigger trading bank than me, but it makes absolutely no difference to the amount of money i can make.
They can, although they can also inspire those traders.lord wrote:Expectations and reports of others making big cash amounts that deflates those traders who are making small cash amounts.
I think it's important for traders not to worry about what other people earn or what they perhaps know that you don't, but to focus on what you can control, i.e. finding an edge and exploiting it ruthlessly.
Jeff