Reply
 
Thread Tools Display Modes
 
Old 09-25-2014, 05:14 PM   #1
Guru
 
Rustybarge's Avatar
 
City: I need a bigger boat!
Country: Ireland
Vessel Model: Cheetah 25' Powercat.
Join Date: Aug 2014
Posts: 925
Risky Investment Club anyone?

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.
__________________
Advertisement

__________________
Peter.
Rustybarge is offline   Reply With Quote
Old 09-25-2014, 10:02 PM   #2
Guru
 
BandB's Avatar
 
City: Fort Lauderdale
Country: USA
Join Date: Jan 2014
Posts: 13,111
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.
__________________

BandB is offline   Reply With Quote
Old 09-25-2014, 10:30 PM   #3
Enigma
 
RT Firefly's Avatar
 
City: Slicker?
Country: Bumpkin?
Join Date: Oct 2007
Posts: 9,994
Greetings,
Just getting out of bed on the morning is a gamble to me. Craps is usually involved.
__________________
RTF
RT Firefly is offline   Reply With Quote
Old 09-25-2014, 11:25 PM   #4
Guru
 
ben2go's Avatar
 
City: Upstate,SC
Country: USA
Vessel Name: The Caroliner
Vessel Model: Plans to build 30' Spira Sitka
Join Date: May 2012
Posts: 1,080
Quote:
Originally Posted by RT Firefly View Post
Greetings,
Just getting out of bed on the morning is a gamble to me. Craps is usually involved.
__________________
BEN'S BOAT BLOG

ben2go is offline   Reply With Quote
Old 09-25-2014, 11:58 PM   #5
Guru
 
ben2go's Avatar
 
City: Upstate,SC
Country: USA
Vessel Name: The Caroliner
Vessel Model: Plans to build 30' Spira Sitka
Join Date: May 2012
Posts: 1,080
Quote:
Originally Posted by Rustybarge View Post
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.
Quote:
Originally Posted by BandB View Post
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.
__________________
BEN'S BOAT BLOG

ben2go is offline   Reply With Quote
Old 09-26-2014, 02:58 AM   #6
Guru
 
Rustybarge's Avatar
 
City: I need a bigger boat!
Country: Ireland
Vessel Model: Cheetah 25' Powercat.
Join Date: Aug 2014
Posts: 925
Quote:
Originally Posted by BandB View Post
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.....
__________________
Peter.
Rustybarge is offline   Reply With Quote
Old 09-26-2014, 03:01 AM   #7
Guru
 
Rustybarge's Avatar
 
City: I need a bigger boat!
Country: Ireland
Vessel Model: Cheetah 25' Powercat.
Join Date: Aug 2014
Posts: 925
Quote:
Originally Posted by RT Firefly View Post
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.
__________________
Peter.
Rustybarge is offline   Reply With Quote
Old 09-26-2014, 03:03 AM   #8
Guru
 
Rustybarge's Avatar
 
City: I need a bigger boat!
Country: Ireland
Vessel Model: Cheetah 25' Powercat.
Join Date: Aug 2014
Posts: 925
Quote:
Originally Posted by ben2go View Post
Just lost back the 30 pips I made yesterday......17 down so far today.

Damn damn damn!
__________________
Peter.
Rustybarge is offline   Reply With Quote
Old 09-26-2014, 03:06 AM   #9
Guru
 
Rustybarge's Avatar
 
City: I need a bigger boat!
Country: Ireland
Vessel Model: Cheetah 25' Powercat.
Join Date: Aug 2014
Posts: 925
Quote:
Originally Posted by ben2go View Post
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 £.
__________________
Peter.
Rustybarge is offline   Reply With Quote
Old 09-26-2014, 09:11 AM   #10
Guru
 
City: Georgia
Country: USA
Join Date: Jul 2012
Posts: 952
Quote:
Originally Posted by RT Firefly View Post
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.
Rambler is offline   Reply With Quote
Old 09-26-2014, 10:08 AM   #11
Guru
 
Rustybarge's Avatar
 
City: I need a bigger boat!
Country: Ireland
Vessel Model: Cheetah 25' Powercat.
Join Date: Aug 2014
Posts: 925
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?
__________________
Peter.
Rustybarge is offline   Reply With Quote
Old 09-26-2014, 10:18 AM   #12
Guru
 
BandB's Avatar
 
City: Fort Lauderdale
Country: USA
Join Date: Jan 2014
Posts: 13,111
Quote:
Originally Posted by Rustybarge View Post
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.
BandB is offline   Reply With Quote
Old 09-26-2014, 10:26 AM   #13
Guru
 
Rustybarge's Avatar
 
City: I need a bigger boat!
Country: Ireland
Vessel Model: Cheetah 25' Powercat.
Join Date: Aug 2014
Posts: 925
Quote:
Originally Posted by BandB View Post
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!
__________________
Peter.
Rustybarge is offline   Reply With Quote
Old 09-26-2014, 10:28 AM   #14
Guru
 
Rustybarge's Avatar
 
City: I need a bigger boat!
Country: Ireland
Vessel Model: Cheetah 25' Powercat.
Join Date: Aug 2014
Posts: 925
Anyone else like to join the fun....

It's free!
__________________
Peter.
Rustybarge is offline   Reply With Quote
Old 09-26-2014, 10:51 AM   #15
Guru
 
Rustybarge's Avatar
 
City: I need a bigger boat!
Country: Ireland
Vessel Model: Cheetah 25' Powercat.
Join Date: Aug 2014
Posts: 925
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.
__________________

__________________
Peter.
Rustybarge is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off





All times are GMT -5. The time now is 06:04 PM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2006 - 2012