Hi All

Looking to gain a small following for an experiment, gonna spreadbet 1,000 of my own hard earned with a view not to stop until I hit 25,000 or lose the lot!!

It'll be across a range of Index, equity & FX trades starting small and building the pot (or lose the lot) will be using flat stops and running profits with trailing stops.

If you want to follow every trade and watch the spiral up or down feel free to follow me on www.twitter.com/eyetrader - where I'll be simply be posting each trade as I click the mouse

BTW this is not spam, I'm not selling anything, I dont want any donations, more of a personal challenge that I'm going to conduct in public!!!! I'm hoping to see a few tips on here as well as my own strategies and ideas.

Lastly I'll be donating 5,000 of the profit (if/when I make it) to charity

May the slaughter commence :)

Eyetrader

Just two trades today (one FX & one DJ) resulted in a small profit of 50, so total profit thus far now 1476.20, representing a 49.21% return on capital.

It's probably worth mentioing that although I started this venture June 16, I didn't actually place a second trade until Sep 14.

Average return per trade (11) 134.20.

Currently four open long positions, which despite a down FTSE day are flat in comparison to Friday's close, with a paper profit of 107.58.

it's much easier to turn 25k into 1k!

Off you go then Ricardo, demonstrate how it's done!

i did much better than that several years ago - made myself a most generous benefactor in redistributing many many pennies

would you have expected anyother sort of answer from mr cyners???:))

i'm afraid it's true ...... hindsight's wonderful, and i genuinely don't think i would have blundered as badly (blind and unbridled greed and stupidity) today as i did then .... at least i avoid CGT for a long time to come!

LOL same old cyners dryer than ever but he makes a valid point.

Can you make a living from 14 grand starting pot...... yes but you have to be able to goth both ways in the market ie, short aswell and I would probably stick to stocks only.

Strict discipline aswell more than anything, easier said than done.

Big problem coming up with stops, ie do you use them or do you risk being wiped out totaly if we get a terrorist attack.

My rules are something like this.....

- dont touch oilys and miners plus biotechs...too risky

- try and stay away from volatile stocks unless you are intraday trading

- never play a stock with a beta of one or higher

- make sure stop if used is far enough away from morning spike

- go for a target of 20% profit or higher if resistance is further away

- use level 2 for entry but if you havent this buy a stock when the spread is tightest and probably when a bout of selling has just taken place, try to get off to a good entry start, this helps to not play catch up later.

- dont go for a big spread stock where the bet size entry is bigger than your acceptable loss. you wont catch up in most cases

- never use more than 2% of your whole pot on one single bet, ie, thats as much as you are allowed to lose on your stop loss so position it accordingly

- make sure you dont overtrade and risk a margin call

- be carefull which 1/4trly bet you go for. If theres only a few weeks to go before expiry pick the later quarters bet even though you pay more in spread

- make sure you have a grasp of charts and TA

- always use ATR average true range on your charts..... this gives you idea of volatility

- read up on the companys results dates, ex divi dates trading statement dates etc etc.

- flog a stock before the news comes out day

- stick to a system and tweak it if needs be

- take a few days break and close out entitre portfolio every now and again

- dont get caught up in data watching or you will be panicked out of some positions

- cut losses fast and let winners run

- use trailing stops after a profit is established and move the stop in tighter , not too tight though

- at all times try to preserve capital base, your still in the game that way

- read as many books on trading as possible but dont over do it or youl end up with hyper tension and producing too much cortisol

- last but not least follow all goldfingers tips...... they are ace.

ps, keep an eye on inter market relationships.

remember we are a global economy now.

Goldfingerthats one hell of a rule bookmine is a little less complicatedback more winners than losers.lol

oooooooooops sorry yep forgot about that.

cheers.

Why do you need to have more winners than losers?

You dont do you.

Sometimes 2 or 3 will be enough if you cut losses quickly. (out of 10)

Goldfinger- Spot on! By the way take a bow acted on your HGM tip @ 100, closed @ 162, excellant call :O)

Exactly. As an example, you could average 40% winners and you would still make money overall if the average win size was more than 1.5 times the average loss size.

Yep spot on.

Probably missed other points in that list aswell hilary.

Im finding now that paying attention to intermarket relationships is a big big biggy.

more seriously .... because it is human nature to avoid biting the bullet so losses continue to mount .... also, stocks fall a lot quicker than they rise, so it's easy to be caught out ..... and finally, it's a truism that we take profits too early - even if, as i often say, no one ever went broke taking same

Yep excelent points cyners could you please add that to the char thread.

First time you have ever taken me seriousyou plonkers!!!

Probably a no brainer but also take into account spreadbetting companys spread and charts on entry and exit points from real time.

And avoid Tabbys horse tips