Risky Investment Club anyone?

[Rustybarge]

Hi All,

I'm retired in my late 50's, but I'm interested in making some investment income. Like everyone else I've experienced paying brokers to lose my money for me, and guess what it's never their fault and they always blame it on the markets!

So.....

I was watching program on the telly about spread betting on the markets; it's tax free, and you can place a bet of as little as£0.50pence on the stock exchanges from all around the world, set stop limits, instantly buy or sell using your PC or tablet.

I've just signed up to Spread Betting, CFD Trading and Forex | IG UK here in the Uk ; it's a virtual demo account which you get for free that gives you £10k in pretend money.

The plan:
To practice 'virtual' spread betting until I get the skill sets to make profit.

The markets:
I'm going to start on Forex: GBP/US dollar.

The strategy:
The London market starts to open at 6.00am (UK time)when bank place their first trades to make an artificial 'bounce' in the market before trading starts in earnest.
The Us market starts at about 9.00am (NY time) were the big boys kick start their 'bump'........

I am only going to trade these time slots as the rest of the time the market is chaotic in nature, and unless you've got a feed of inside information you don't have a chance of making profit.

Anyhow, if anyone would like to join me in my endeavour please feel free.
All advise gratefully received .

On my very first day trading: up 30 pips at Wall st opening.
PS: each pip or point can equal anything from 0.50p to £100 in virtual money.

Talk to you later at 6.00am uk time with second trades....
I must be crazy.

 

[BandB]

I am adverse to risky investments. I'd obsess about them too much. I can go to a casino if I want risk. Spreads, straddles, options, not my thing. My feeling on them is that they're just like sports betting. Some win, some lose, but the only one guaranteed to win is the bookie or the broker.

Becoming expert in those types investments literally takes decades and short of that one thinks they're an expert but they're like the person with the guaranteed system at the craps table. They get on great streaks but then it just takes one bad stretch to lose all they made.

Sounds crazy for someone who enjoys casinos including the poker rooms but I guess both are fine as long as you only risk that which you can afford to lose with no regrets.

 

[RT Firefly]

Greetings,
Just getting out of bed on the morning is a gamble to me. Craps is usually involved.

 

[ben2go]

Greetings,
Just getting out of bed on the morning is a gamble to me. Craps is usually involved.

 

[ben2go]

Hi All,

I'm retired in my late 50's, but I'm interested in making some investment income. Like everyone else I've experienced paying brokers to lose my money for me, and guess what it's never their fault and they always blame it on the markets!

So.....

I was watching program on the telly about spread betting on the markets; it's tax free, and you can place a bet of as little as£0.50pence on the stock exchanges from all around the world, set stop limits, instantly buy or sell using your PC or tablet.

I've just signed up to Spread Betting, CFD Trading and Forex | IG UK here in the Uk ; it's a virtual demo account which you get for free that gives you £10k in pretend money.

The plan:
To practice 'virtual' spread betting until I get the skill sets to make profit.

The markets:
I'm going to start on Forex: GBP/US dollar.

The strategy:
The London market starts to open at 6.00am (UK time)when bank place their first trades to make an artificial 'bounce' in the market before trading starts in earnest.
The Us market starts at about 9.00am (NY time) were the big boys kick start their 'bump'........

I am only going to trade these time slots as the rest of the time the market is chaotic in nature, and unless you've got a feed of inside information you don't have a chance of making profit.

Anyhow, if anyone would like to join me in my endeavour please feel free.
All advise gratefully received .

On my very first day trading: up 30 pips at Wall st opening.
PS: each pip or point can equal anything from 0.50p to £100 in virtual money.

Talk to you later at 6.00am uk time with second trades....
I must be crazy.

I am adverse to risky investments. I'd obsess about them too much. I can go to a casino if I want risk. Spreads, straddles, options, not my thing. My feeling on them is that they're just like sports betting. Some win, some lose, but the only one guaranteed to win is the bookie or the broker.

Becoming expert in those types investments literally takes decades and short of that one thinks they're an expert but they're like the person with the guaranteed system at the craps table. They get on great streaks but then it just takes one bad stretch to lose all they made.

Sounds crazy for someone who enjoys casinos including the poker rooms but I guess both are fine as long as you only risk that which you can afford to lose with no regrets.

After reading through that link,I agree with BandB,that is high risk.

 

[Rustybarge]

I am adverse to risky investments. I'd obsess about them too much. I can go to a casino if I want risk. Spreads, straddles, options, not my thing. My feeling on them is that they're just like sports betting. Some win, some lose, but the only one guaranteed to win is the bookie or the broker.

Becoming expert in those types investments literally takes decades and short of that one thinks they're an expert but they're like the person with the guaranteed system at the craps table. They get on great streaks but then it just takes one bad stretch to lose all they made.

Sounds crazy for someone who enjoys casinos including the poker rooms but I guess both are fine as long as you only risk that which you can afford to lose with no regrets.

Maybe that's what caused the financial crash; all the dealing rooms seem to full of young twenty-something's with no experience.....

 

[Rustybarge]

Greetings,
Just getting out of bed on the morning is a gamble to me. Craps is usually involved.

Great thing about the iPad is you can stay in your bed and gamble at 6am, that's if you can the bloody thing to work properly.

 

[Rustybarge]

Just lost back the 30 pips I made yesterday......17 down so far today.

Damn damn damn!

 

[Rustybarge]

After reading through that link,I agree with BandB,that is high risk.

There was no 'bump ' this morning, and I misjudged the the little gain at 6.00am as the start of the bounce and bought GBP....

.....and unfortunately it didn't go up, but went down instead.

Lucky these are virtual £.

 

[Rambler]

Greetings,
Just getting out of bed on the morning is a gamble to me. Craps is usually involved.

I've renamed the john to jim. Now I can tell folks I go to the gym every morning. :lol:

 

[Rustybarge]

Just gained 3 pips at Wall st opening...bit of downward bump which I sold GBP on, and got the upward rebound as well.

So I'm trying it get a framework around the strategy.
Hope to gain 10 points a day, that way after one year I would have 3650 points.
On a starting capital of £10k that would give a return of 36.5%.

Not sure where to set the stop loss to mitigate the risk?
Any suggestions?

 

[BandB]

Just gained 3 pips at Wall st opening...bit of downward bump which I sold GBP on, and got the upward rebound as well.

So I'm trying it get a framework around the strategy.
Hope to gain 10 points a day, that way after one year I would have 3650 points.
On a starting capital of £10k that would give a return of 36.5%.

Not sure where to set the stop loss to mitigate the risk?
Any suggestions?

If you're investing in something that you feel the need to watch constantly, as you would on this, then that's not investing, that's gambling. You're an amateur gambling with pros. The pros in the Vegas poker rooms would call you a "fish." Why? Because you might have occasional wins but in the long term, they will end up with your money.

I will say this too. If your financial plan requires a 36.5% annual return, then you've got a bad plan.

 

[Rustybarge]

If you're investing in something that you feel the need to watch constantly, as you would on this, then that's not investing, that's gambling. You're an amateur gambling with pros. The pros in the Vegas poker rooms would call you a "fish." Why? Because you might have occasional wins but in the long term, they will end up with your money.

I will say this too. If your financial plan requires a 36.5% annual return, then you've got a bad plan.

Hopefully just need to watch the market for half an hour before Uk starts dealing and the same for Wall St.

So will only be dealing for those times and not in the market at any other times during the day.

Guaranteed fortune on its way!

 

[Rustybarge]

Anyone else like to join the fun....

It's free!

 

[Rustybarge]

I've just been looking at the Australian/USD.

You can see very clearly when their's opens every morning: it's a beautiful sine wave.

Also the US market has a big bounce when it's starts dealing in AUD...

Might be a better currency to follow because of less trading volume.