Any profitable trader that wishes to help?

I have spent some time with trading and tried plenty of strategies, any sort of thing available out there.

I am profitable sometimes but many others I lose, so there must be something that I am doing correctly and something the I should do better.

Is there any trader out there that has been profitable over time and consistently, willing to talk openly about their ways of entering and exiting the market?

Maybe need to revise that username by the sounds of it. :wink:

Joking aside, have you done any reading at all on how to trade? Any books at all?

I only ask as your post reads as if you have no idea of how a chart behaves. Apologies if Iā€™ve got that wrong.

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Sell all your current positions, go all in on Tesla.

Disclaimer: Iā€™m not a financial advisor, and this is a joke :slight_smile:

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Or is it? :thinking::thinking::thinking:

That might be someoneā€™s preferred strategy :roll_eyes:

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How long have you been practicing?

If itā€™s under say 3 months, keep practicing. Find your preferred market time frame, then practice it.

Following others ā€˜strategiesā€™ may and probably wonā€™t work for you as you need to be able to ā€˜seeā€™ the strategy on the charts

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joy fontana listen to me, and answer this question instead of making jokes and ask me questions yourself:
Are you a consistently profitable trader, or not?
Becauseā€¦ If you are then yeah, I humbly asked for your help
Butā€¦ If you are not, as I believe this is the case, then please realise that simply your ego took over and made you feel you HAD to reply my post and be the comedian here

this is a much more polite way to answer my question thanks

My questions were designed to put me in a better place to help.

I was trying to ascertain if you have done any work yourself in this endeavour or are just looking for people to give you the answers rather than equip yourself with the knowledge to help yourself.

I think I have my answer.

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If you need help your best bet is to go and talk to an actual professional. He most likely will ask for :money_with_wings: in order to disclose his strategy. Or maybe buy a course and understand market patterns and how to asses equity prices or FX trends. Again that will cost :money_with_wings: . Or maybe start reading books such as this one How I made $2 mil in the stock market. But again books cost :money_with_wings:

As you can see there are a couple of trends here:

  • First one: it takes :money_with_wings: to make :moneybag:. The same will apply to your strategies. Some might work some might not. The overall is what matters. Make sure at the end of the day you are in the green and make a profit.

  • Second one: information is still king. The only way is to keep informed. Warren Buffet reads like a mad man. If you want to be as successful as he is you need to read as much as he does or even more: ā€œRead 500 pages like this every day. Thatā€™s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.ā€

  • Even if you manage to do the first two then you have to overcome the last rule. All of the above such as a course or reading a book or spending time of forums ā€¦ take time. As you can see this is the most difficult rule: be patient. Most people loose money as they become emotional and on the spur of the moment make bad decisions as they expect big earning fast Even if you co-found Apple you will not become a millionaire if you donā€™t have patience. Also remember Warren Buffet did not become The Oracle of Omaha in 1 year or even 5. His big wins came after almost 10 years.

Not sure if it help but I hope it does :blush:
Best of luck :crossed_fingers:

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stock prices are random, technicals and fundamentals are proven to not give any advantage. once you understand that then best strategy is to just buy and hold long term

free pdf for you

http://site.iugaza.edu.ps/wdaya/files/2013/03/A-Random-Walk-Down-Wall-Street.pdf

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With all due respect I strongly disagree with spending any money on someoneā€™s ā€˜strategyā€™.

All the information anyone could possibly need is out there for free on the internet. Trading 212 has a lot of very informative videos on their YouTube channel explaining the basics of CFD trading and the forex markets etc.

Additionally I cannot emphasise enough the importance of practice. I spent six months on a Trading 212 practive CFD account before switching to real money. After two months with real money Iā€™m around a 9% profit.

I think the most important thing to understand is trading CFDs is not a get rich quick scheme

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Is that actual profit, rollover re-invested profit or MWRR? Even perception of profit can be different. Therefore I believe strategies are different and what they are worth is also different (or at least interpreted differently).

I am up 35% but I donā€™t see it as actual profit as I have re-invested everything back ā€¦ and keep investing. What I hope is to see the same number in couple of years when I have to pay mortgage or even more years down the line when I retire.

Yes there is a lot of information online that can help anyone learn how to make money online. It just takes time to research and eliminate the good information from the bad/false information (example would be ā€œ I made $1 million in 6 months. All you have to do is watch this [insert YouTube link here] and you will also get rich :money_mouth_face:ā€ :grin:). To that extent there is some worth to some services/professionals out there that actually help filter out and deliver the necessary information for an investor or trader to make a difference (TradingView, WSJ, Bloomberg, Barronā€™s, Motley Fool etc). They help bring down the cost of time :stopwatch: it would take to do it all on your own.

This is probably one of the most important aspect of any strategy. No strategy will happen overnight. You need time to create it and most importantly refine it. I did the same. And still use the Practice account to test new strategies out

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This is ā€˜xā€™ amount has been deposited and now I have ā€˜x*1.09ā€™ held as cash to trade with. Just to clarify this is with my CFD account that I swing trade fx and futures on as I have a totally separate invest account which is ā€˜fire and forgetā€™

Yep! This is my most hated thing! I have Instagram for my car and motorcycle hobby and get a hideous number of these account as suggestions.

Iā€™m a bit weird in this respect. I almost solely used T212ā€™s YouTube videos then practice practice practice as I like the aspect of having to learn myself in the hope it gives me a deeper understanding

I cannot emphasise patience enough. Stocks generally will rise as long as your not after backing a completely rubbish company. Holding does work.

Also if I earned 9% in two months id be re-evaluating my entire strategy. That seems very low for CFDs.

I still consider myself a complete beginner on the CFD front so Iā€™m comforable with this and I did have a losing streak last week. Itā€™s why I am completely happy to share numbers, and itā€™s always a bit of a PITA fitting it around full time work.

Out of interest have you traded CFDs and if so what sort of return rate did you get?

Naturally I would like to boost my numbers but with actual money down itā€™s being approached in a very cautious way. With the idea that in a couple of years time I can consistently get good returns from fx and futures trading. Itā€™s something Iā€™ve wanted to teach/learn myself for years so Iā€™m glad I discovered 212

This is why my invest account is generally fire and forget, Iā€™m not looking at it for short term.

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Well, you made fun of my username, which is rude, first thing. Especially because I just didnā€™t know what to choose and just picked that.
Then yeah, you asked about where my knowledge sits, and to answer that, yeah I have read a lot ā€œbooksā€, as you call them, and also internet material, as well as video tutorials etc.
I know patterns and how the chart behaves, I just wanted to throw out there a request.
You guys are either all stubborn losers (like distilled losers, not those that lose all in one night), or small winners like @PorterOldSlug (but respectable), or more improbably you are big winners (but selfish), like you donā€™t want to share your methods and then you reply rudely or do not get involved in the convo at all.
Thanks all for your replies and sorry for opening this Pandoraā€™s box :slightly_smiling_face:

There is a section on this book where the writer hypothetically states what would happen to the market in the event of of global virus. My version was updated in 2014. It is worth reading

ā€œBooksā€ as you call them? What?!!?

@PorterOldSlug Gains are gains but 9% does seem a little low to me. I donā€™t know my exact percentage but I generally follow a rule of thumb that if I have 5 CFDs, I donā€™t sell until I have 50 dollars profit, 10 CFDs 100 dollars profit etc. The odd time Iā€™ve bought a couple of hundred CFDs on smaller valued stocks but it rarely ends well. I generally stick to the big boys like Microsoft, Apple etc. With a bit of patience they generally rise. I think now is a good time to get back in actually as weā€™re back at June prices. I too did get slightly burned last week. I sold at a loss just to free up cashflow and buy back at the lower prices we have now. I figured I could get back out of the red quicker and with less interest than just holding (and breaking my ā€˜have patienceā€™ rule in the process).

Youā€™re right though. My invest side is healthy enough. I just dump profits from CFDs there and try not to worry about it.

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Gains are gains, but, we would all just sell out of everything now and never look back if we didnā€™t want more :wink:

That said every single time I have broken the ā€˜just be patientā€™ rule Iā€™ve either lost or profited lessā€¦

June prices are good for my investment portfolio. Especially when itā€™s payday and another monthā€™s lump sum is deposited in.

Iā€™ve stuck to fx and futures on CFD for a few reasons, the main is that I can trade outside of my full time 9-5 job. I spent the first few months working my way through different time frames and stocks vs. Fx and futures and have now settled so I suppose you could say Iā€™m in the refining stage now

It will be two months on the 25th and the trades I have open right now should hopefully end my two months above 9%!