it is quite possible that ponying up and then stopping and starting again is a very legitimate way to trade. ie start $10k or $20k, use 10% or some other stop, build up to $100k- $500k, stop, then start again with the $10k or $20k.
Done, it starts on Monday at around 10:30am. I'll make a separate thread and provide a link to it here.
Done, it starts on Monday at around 10:30am. I'll make a separate thread and provide a link to it here.
Many years ago I met a professional gambler (horses), who did exactly that .....
He would only start "betting" with 20% of his capital. ie. He would always hold 4 reserve Banks of the same cash equivalent of his actual punting Bank. (eg. $10,000 out of a total Bank of $50,000)
Once the initial Bank was "compounded" to 2X 3X or ?X, he would simply put aside a certain amount of his profits and start again.
Trading Horses is a lot harder than trading markets, so Binary Options traded in the same fashion seems a sensible way to approach it.
I've always thought of BO's more like Scalping with the major issue being, finding a reputable Broker. It seems that IG may fit that bill .....
On that note, Tollbridge, a few quick questions .....
With IG, did you have any problems regarding fills/payments or anything dodgy at all with this type of Trading?
For example; any unusual chart spikes at inopportune moments? Are the cut off times for closing the trades strictly adhered to by IG, particularly when a position is in the balance of positive/negative?
When you take a Binary, I assume you are you still subject to the prevailing Spread on both opening and closing the Binary?
What is IG's rule if the entry price and exit price on the Binary is identical ... money back or a losing trade? Have you had many "identical" positions?
Cheers.
tollbridge;837408On the 21st July [B said:whilst in hospital for you dicks who don't believe I have a chronic illness, I'll post a medical certificate for you guys to verify that too if you want[/B]
IG Markets
I have unfortunately incurred some strange behaviour on a couple of occasions.
i) When you enter an amount into the Sprint Market panel of the trading platform above $20,000.00 it does show a return of circa $36,000. When you attempt to place the order (in my case after waiting several hours for the right position) an error message occurs stating "Price not good in underlying market". I called IG and was transferred over to the "Sprint Market Desk" and the agent told me that there's a variable limit dependant on the number of traders etc. I was pissed off because the trade would have been profitable and the quoted price paid.
ii) Yesterday I placed a short trade literally 3 - 5 seconds prior to the S&P200 dropping, the screen froze and a message appeared stating "the quoted price is no longer valid". Again, the trade would have been in my favour.
With the exception of the above I have been very happy with IG. I love the platform, it's extremely easy to use but at the same time very customisable. Because I'm trading IG's AUD200 and not the actual S&P200 I have a separate screen with a live feed of the S&P200 and I have never found any irregularities.
Fascinating thread....
Now ? Just not so clever. My "winners" have died and most of the plays I have made subsequently have failed. In retrospect I should most certainly have cashed in my chips somewhere near the top, paid tax on my "winnings" and gone back to making an honest living.
Fascinating thread....
I think Tollbridge has had a charmed run. It's also possible he has some particular skill as well. After all card counters in casinos are banned because they have developed a way to turn the odds in their favour when clearly the house doesn't want to see that.
I can also relate to his story. Early in my investing days I did very well. I managed to pick a few bolters and looked at some quite handsome numbers on my accounts and thought how clever I was with my investing strategy....
Now ? Just not so clever. My "winners" have died and most of the plays I have made subsequently have failed. In retrospect I should most certainly have cashed in my chips somewhere near the top, paid tax on my "winnings" and gone back to making an honest living.
I can also remember the story of young guy in Adelaide who is very interested in the market, borrowed money from his mum and proceeded to make quite a decent killing over a couple of years. He seemed to be a thoughtful and clever investor/trader. (He has been on ASF as well.)
I believe he took a chunk out of his monies as cash and then went back into the market. I suspect a few of those shares have been beaten around the ears since. I did follow his website and trades and he was sincere and honest in his approach. He should be finishing his uni degree by now.
So good luck Tollbridge. I hope you can manage to hold onto your "winnings ". If in fact you have manged to turn a zero sum game (less transaction fees) into a consistently winning story it is revolutionary. But naturally the proof is in the pudding.
I can also remember the story of young guy in Adelaide who is very interested in the market, borrowed money from his mum and proceeded to make quite a decent killing over a couple of years. He seemed to be a thoughtful and clever investor/trader. (He has been on ASF as well.)
Different as per follow up post. That trader let their profit run.There was a fella i heard about traded with CMC sold the audusd at 97 at the start of the GFC held the trade till 10 cents in profit. figure was around 100K made off that trade.
so these things can be done. well done Tollbridge
Extreme risk resulting in extreme gratification or extreme loss. We know longevity in the game is rare with this strategy.The lesson, as always, is that it's easy to come into a good/great run - during which time it's difficult to distinguish between skill andr luck. It's much harder to keep the winnings unless you manage your risks.
I thought you said you took out the $2000 to go to the Goldie and stay at the Palazzo Versace?
Toll can correct me if I'm wrong .....
He took the first $2000 out of the first $15,000 to give back to his Mum, but then lost most of that $15K, so used the withdrawn $2K on his second phase of trading to make the $40K.
He took another $2K out of that $40K winnings to go to the Palazzo ..... that's how I interpreted it anyway
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