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$250.00 to $40,000.00 in 6 weeks!

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That's a link to an empty album. I want to see the video of you reviewing the hotel like you said you recorded.

If you somehow can't trade now means you cannot repeat what you have done, lucky streak you were on.
 
Just so you all know, I made $80,000.00 today. I so wanted to get up to $100,000 that I lost it all.

Yep, account balance = $4.00.

You were right, I was wrong. Meh, I'm 24 - I'll live to trade another day.
 
Oh and for the record, I am massively dissapointed in IG Markets.

Once my account balance began to increase above $50,000 weird things began happening more and more often. As soon as I was about to place trades that were time sensitive, some sort of error occurred. The graph on the screen doesn't match the actual price and therefore gives the wrong data.

Not trying to lay blame, but next time I decide to embark on trading I'll be picking another broker.
 
Let me be the first to say.....


'I dont want to tell you I told you so................'


Maybe mum could swing you a couple buck$ ?


pinkboy
 
It was fun while it lasted and it's a good story. Who the hell can turn $250 in $80,000 in less than two months?

If I'd just kept it there, banked it like I said... would have could have should have.

Seriously though and I do mean this, on the last few trades IG Markets really screwed me. Misquoting prices and then relying on official bloomberg prices to justify trades going South. Endless amounts of "The price quoted is no longer valid" even though the price quoted never varies, it's a binary trade.

What can you do?
 
Well that was a train wreck we all saw coming! Poor old mum, eh?!
 
tollbridge said:
Just so you all know, I made $80,000.00 today. I so wanted to get up to $100,000 that I lost it all.
Yep, account balance = $4.00.

You were right, I was wrong. Meh, I'm 24 - I'll live to trade another day.
Click to expand...

I hope you are joking, although considering I saw the $15,000 trade in yesterdays account, I suspect you are telling the truth.

I am seriously disappointed in the fact that you had a chance to change your life but you turned your back on it ..... Why would you take trades risking 25% of your capital when your Bank was so large

Too much greed and not enough fear "Toll" .... been there done that, and its not nice ... I hope you don't go into a depressive state after making such erroneous decisions ... I know I certainly did after I screwed up many years ago.

I seriously hope you end up ok, but you do need to address whatever caused you the need to prove yourself by making the 100K target .......... You had already done that at 50K ... all you needed to do was turn another 1K into 2K responsibly and everyone would have seen value in your method ....... Now it was just another punter getting lucky and blowing it all story ....... ........ WHY!!!!!

I'd like to add more "bangheads" but I've run out of allowable icons!!!
 
So the system blew up Tollbridge ? I can actually appreciate your comments about your broker IG markets somehow fiddling with your trades. It just wouldn't surprise me to see these entities decide to disrupt someone who was making a lot of money quickly. Of course they wouldn't disrupt a losing trade would they ?

Sounds a l bit like my experience just compressed into 2 months rather than a few years. A few excellent results that make you feel very, very clever and then a string of losing investments that brings one back to earth with a bang.

The name of the game perhaps ?
 

What did you expect ?? You're playing a over the counter game against the broker. You're not playing in a free exchange traded market. The broker makes the rules. Odds are better at the casino where it's closer to 49:51 than playing binaries against the broker where they dictate price.

tollbridge said:
It was fun while it lasted and it's a good story. Who the hell can turn $250 in $80,000 in less than two months?

If I'd just kept it there, banked it like I said... would have could have should have.
Click to expand...

No, this is what happens when you take big positions. If you just banked it you would've kept thinking "would have could have should have" kept trading and turning it into a million. There is no end when you get on this path. No one can sell at the top consistently, including account equity. If you took money out you would be dreaming of all the money had you kept doubling and doubling on and beating yourself up for banking it.


There is no why, it's simply greed. If he wasn't greedy he would've stopped when he turned 250 into 1k. a 300% return, waaaay above what normal people can take. It's just like most people's game at the casino. They make a bit and think they can make a bit more so they keep playing and in the end they lose it all. If they didn't "go for it" there is simply no potential for any "glory" to boast of.


I am still not convinced that he actually made any trades but whatever it's over now. Still waiting for his "video review" of his fantasy trip to the Versace hotel.
 
Seriously, we need these suckers to keep pumping the $$$ into the market so us 'get rich slowly' investors get richer!

Perhaps you could convince mummy a binary 'trade' of her own by slinging you 5 hungee to go again?

pinkboy
 

This is roughly the algo built into electronic poker/slot machines to obtain maximum addiction....it is not random by any means and plays to design features in our cognition. Toll's actions match the profile, but might have been more susceptible to risk-taking in some ways because of personal circumstance and predisposition. These outcomes will continue to generate a perpetual stream of alpha for others. It is as solid as the presence of humans in markets.

 
pinkboy said:
Seriously, we need these suckers to keep pumping the $$$ into the market so us 'get rich slowly' investors get richer!

Perhaps you could convince mummy a binary 'trade' of her own by slinging you 5 hungee to go again?

pinkboy
Click to expand...

OTC trades don't get onto the exhchange unless the provider hedges in the real market so him trading dosn't really affect anyone else besides IG.
 
minwa said:
OTC trades don't get onto the exhchange unless the provider hedges in the real market so him trading dosn't really affect anyone else besides IG.
Click to expand...

I was talking figuratively!

However noted!

pinkboy
 
Disappointed.

In you, young man. Not IG Markets or anyone else.

Coming on here with such a flippant, "oh well" does not bode well for you.

You were not a wealthy person who could afford to go on a fun run like that. You should have made the most of it, and like many a gambler at the casino suddenly having a big win...you gave it all back.

I'm sincerely sorry for you. I just wish you were a bit more sorry for yourself.

I hope that you come to your senses. It doesn't seem like you have, going by your replies. Will it take an even bigger knock? More borrowed money lost?

Anyway.

I hope that one day you become an investor. I don't think you are cut out for trading at all (and I'm not one to make judgement calls on others). Up to you in the end. Just giving you the benefit of a bit of wisdom.

Actually, before you even become an investor, I hope you go back to the basics of money:

- Earn some (stop borrowing - even from your Mum. Especially from your Mum).
- Spend less than that amount (get a budget happening).
- Take that amount you've saved and invest it (from your blog, you like value investing. Fine - go that way).

Keep away from casinos, the track or the market casinos.

Find something to motivate you.

......At this point I paused in my reply and went through this entire thread reading only your posts

Tollbridge - you should do what I just did. Read each and every one of your posts in succession. From qualification lies to bloomberg subscription lies...admitting you have been a losing trader for 10 years...never managing to save up $10k to trade...to having been on runs like this before...to spending on suits and hotel rooms....the list goes on and on and on. You don't work (I think due to health issues?) - then use your efforts to start an online business in something (not trading or market related!). You can bootstrap pretty well these days. You've got the time to do it, and you'll get into less trouble than with your gambling. Work hard though, and stick with something.

Anyway - this has turned unintentionally into a sermon. I'm a compassionate person and I don't like to see a young person throw their life away. (By the way - I hope your story is true...as I've just spent more than a few minutes of my life typing this out!

Throw my advice in the bin. Or not. I won't give this thread any more time.

Up to you now, man.


PS. In reference to the above, I'm even going to give you resources:
- Google "you need a budget" for a cheap budget program that works well and appeals to the young crowd.
- Consider getting some free counselling if you feel that you have gambling issues / tendencies. Don't be silly about this. It's smart people that get help when they need it. Talk to Anglicare or google gambler's anonymous and see what comes up. Won't cost you.
- Do you have some skills you could use to work from home? Bookkeeping? (You did your diploma?). Can you make decent web sites for small businesses who don't have one or who only have an old crappy one that you could give them a new WP site? You've got time on your side and you could bootstrap yourself into a freelance gig if you put the effort in. Lots of good blogs etc out there to research (also, like trading...lots of scammy crap to avoid - so avoid them!). Stay away from the get rich quick stuff. A tip here is that freelancing a skill is the best way to get profitable more quickly / surely than other businesses. Oh, and - if you don't have any skills? You have the time to actually learn one!
Then start using that money to be your own man....budget....save some...then invest. But I've already said all that...
 
Wow. Good job, tollbridge!

There will be a lot of people that will tell you that your approach was not right or be waiting to be the first to say "I told you so". But none of them turned $250 into $40k in 6 weeks.

Sounds to me that you turned $250 into a suit, a trip to the Gold Coast, a couple of thousand dollars worth of paid bills. That's still an awesome return.

So you busted $80k. Big deal. At least you learnt something from it... From what I've read it sounded like you started thinking about a monetary goal instead of focusing on your trades. Learn from it. Your style is unlikely to look like many other people's, so at least one thing is assured: your results will be unlikely to look like many other people's either. If you haven't already, you should get comfortable with that.

My story involves me turning about $10k into $1M (over 18 months) and then losing that $1M account... twice. The third time I stopped short of 7 digits and bought a house instead. I'm still trading and living reasonably comfortably. It can be done.

I think our community benefits from diversity, so I encourage for you to keep contributing to it as you grow and learn more about your trading style.

Look forward to hearing more from you. Stick around. Good luck!
 
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