Go Markets

[barney]

You just lost a great deal of money and so there really wasn't much left on settlement. That why your wife didn't divorce you.

Luckily she didn't know about the stop-loss rule.

Damn ..... and I thought it was cause she still liked me

You are right about stop losses SKC .................. Money management is King in the market .............. If you have crap entries/exits, you will still probably blow the account, but it will take a lot longer !!

Unfortunately stop losses don't always accommodate for long "Trading Suspensions" and stocks gapping down on re-open 40% to a total of 70% pretty much overnight ............... That is not an excuse from me either ....... I was dumb!!!!! ..................

Anyway, no need to dwell on the past ....... I'm in the black this year .... (I did get a little help with some of that but pretty much haven't made a real crap trade for a few months ... I used to do at least one a week

Just to keep this on thread, I funded an Account with GO markets yesterday, Hopefully I'll get a chance to make a couple of bucks before TH takes them to the cleaners ... lol ....

 

[superkrusty]

That is what did me in. I thought with tight stops I could only ever lose a little and just let my winners run. My cunning plan fell apart because I didn't have enough winners. Then I started loading up to get back what I lost.

The thing that really bugs me is that I have read about not to do this many times. I have also done this demo trading and knew I was prone to do this.

Maybe I should post every trade I do when I save some more "spare" money to keep me honest.

Thanks barney and everyone else for help and advice. I am feeling more positive that I can still make a go of this.

 

[barney]

That is what did me in. I thought with tight stops I could only ever lose a little and just let my winners run. My cunning plan fell apart because I didn't have enough winners. Then I started loading up to get back what I lost.

Gidday SuperK, We are definitely brothers in a past life .... lol .....

Its a habit you have to find a way to break or MODIFY to suit your personality .....

Casinos make a fortune out of people like you and me ........ but the market is a lot more workable than a Casino ...........

You don't need to load up to get even .... Just find a way to put the odds in your favour ...... Its all about percentages ....

Definitely no get rich schemes on the market, unless you take unreasonable risks ............... no point to that

To trade well, you must be able to trade relaxed. How each trader gets to that point is their own journey ........... I'm still carrying baggage from my past ballzups, but improving consistently ............ I'm not interested in making lots of cash out of the market yet ........... but when I prove my system over time with small contact sizes, I know that all I have to do is increase my stake/capital base, and the percentages will take care of the rest ............. Gotta love compounding !!

Good luck with it .............. My advice for what its worth ..... Stop trying to make money ..... Just try and become proficient .......... the money is just a bi-product of a successful trading plan. Cheers.

 

[prawn_86]

Good luck with it .............. My advice for what its worth ..... Stop trying to make money ..... Just try and become proficient .......... the money is just a bi-product of a successful trading plan. Cheers.

A good point here IMO.

If your trading FX try and finish each session with a positive amount of pip, or a positive amt of points if trading the index etc etc.

Obviously still stick to you money management, but at an early stage your probably not looking at pyramiding into positions, so then each trade should be the same size, so if you finish with a positive amount of points you will finish with a profit

 

[BentRod]

Fundamental analysis combined with technical analysis go together like a fat kid and warm chocolate cake (with sprinkles).

Try some fundamental/a on EUR/USD pair and you will quickly realize you need to figure out the economic outlook for 16 different countries.

No thanks...I'll stick to 100% technicals:

E/U isnt the only pair with tight spreads

Yeah but with a spread of 0.9 it is half the price of most to trade.

 

[white_goodman]

im trading the audnzd with great success and a 14 pip spread... tighter spreads dont automatically equal easier

 

[Naked shorts]

im trading the audnzd with great success and a 14 pip spread... tighter spreads dont automatically equal easier

14pips! dam, i hope your not trading off anything less then a 15m chart

 

[superkrusty]

I work in my own business during the day and have time to trade in between customers. I have the time to learn so just have to control my emotions and trade smaller amounts while I learn. I have. I excuse and no reason to Beja e like I have but now know what to look out for.

You are so right barney , that's why I stay away from casinos and pokies as I know I would not stay within my limits. I do have some self control , just have to apply it to trading too!!

 

[Trembling Hand]

im trading the audnzd with great success and a 14 pip spread... tighter spreads dont automatically equal easier

14 pip spread at market orders no doubt Ya kidding.

100 trades you are down 1400. just on a spread Ya kidding mate

 

[white_goodman]

14 pip spread at market orders no doubt Ya kidding.

100 trades you are down 1400. just on a spread Ya kidding mate

its not ideal but ive still made a solid 40% in about 8 trading days on my micro account

 

[Naked shorts]

its not ideal but ive still made a solid 40% in about 8 trading days on my micro account

Good work white!

But still, what does that pair have that the others don't (except huge spreads)?

 

[barney]

Good work white!

But still, what does that pair have that the others don't (except huge spreads)?

True.

A 40% return on any account is excellent W/G, but almost impossible to trade a choppy market with that spread.

The Oz/NZ has been in a fairly healthy trend for a while now, so the spread for medium/longer term trades has been workable .... not sure I'd be holding it long for too much longer though ..

The Euro/GBP at about a 2 pip spread has looked a lot friendlier

 

[Wysiwyg]

True.

A 40% return on any account is excellent W/G, but almost impossible to trade a choppy market with that spread.

The Oz/NZ has been in a fairly healthy trend for a while now, so the spread for medium/longer term trades has been workable .... not sure I'd be holding it long for too much longer though ..

The Euro/GBP at about a 2 pip spread has looked a lot friendlier

Not long back this year the AUD/USD was a short in the mid to high .90c`s and I had 2 full short contracts at .945c and trailed out at .93c 2 contracts held till low .60`s would have pulled a cool 60 k + .

The % return in the market is potentially massive at times but this damn learning curve is extremely frustrating.. That is why we all love it and come back tomorrow in readiness, armed with yesterdays knowing..

 

[barney]

Not long back this year the AUD/USD was a short in the mid to high .90c`s and I had 2 full short contracts at .945c and trailed out at .93c 2 contracts held till low .60`s would have pulled a cool 60 k + .

The % return in the market is potentially massive at times but this damn learning curve is extremely frustrating.. That is why we all love it and come back tomorrow in readiness, armed with yesterdays knowing..

Yep. If only we could turn hindsight into foresight

 

[chops_a_must]

Wouldn't mind getting some commentary on this, cheers:

That's exactly why I asked!!

It seems extremely, extremely misleading. Horrible really.

How on earth can they claim you are trading the futures, and give you the contract code, when all you are trading is the MM???

Incredible.

 

[Cartman]

Wouldn't mind getting some commentary on this, cheers:

They might get around it because the actual Trademark name is SFE SPI 200 They just call it SPI Futures although still using AP code Have emailed the Co Will let you know what response they give

 

[Trembling Hand]

its not ideal but ive still made a solid 40% in about 8 trading days on my micro account

Yeah thats good but,,,,,,,,,,,, don't want to be a smart ar$e but tell us how you are going in 100 days. You would really need a HUGE edge to pay for that spread. IMHO.

But still well done.

 

[Cartman]

They might get around it because the actual Trademark name is SFE SPI 200 They just call it SPI Futures although still using AP code Have emailed the Co Will let you know what response they give

For you Chops Main gist of the reply as follows from GO

"The ASX SPI contract is indeed an OTC contract but unlike many providers we use a pure feed so the price is unaltered and we charge a small commission rather than a widening or MM of the price.
Gomarkets passes all its trades through to a liquidity provider who in turn has its own hedging policies so not every trade will neccessarily be put into the SFE or they may be placed in bulk.
Clients can in turn enjoy a reduced margin of $2833 with low commission and mini trades available.

It is worth taking a look at the live platform and running our feed in conjunction with what you are currently looking at so you can be satisfied regarding the prices on the APS"

 

[chops_a_must]

For you Chops Main gist of the reply as follows from GO

"The ASX SPI contract is indeed an OTC contract but unlike many providers we use a pure feed so the price is unaltered and we charge a small commission rather than a widening or MM of the price.
Gomarkets passes all its trades through to a liquidity provider who in turn has its own hedging policies so not every trade will neccessarily be put into the SFE or they may be placed in bulk.
Clients can in turn enjoy a reduced margin of $2833 with low commission and mini trades available.

It is worth taking a look at the live platform and running our feed in conjunction with what you are currently looking at so you can be satisfied regarding the prices on the APS"

Very interesting. And thanks heaps for that Cartman... I know you do what you wann.

Could be a cheap way to hedge or train for the full futures if the prices and spreads are not actually synthetic, but are merely a recreation.

Speed execution would then sound like the biggest problem with this... but it seems a much better alternative than the MM indices.

 

[Cartman]

Very interesting. And thanks heaps for that Cartman... I know you do what you wann.

Could be a cheap way to hedge or train for the full futures if the prices and spreads are not actually synthetic, but are merely a recreation.

Speed execution would then sound like the biggest problem with this... but it seems a much better alternative than the MM indices.

Agree if the speed is good "sounds pretty sweet to me"