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Is spread betting for fools?


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I don't know what expectations you had when you started David, mine were to make a lot of money and retire.  That didn't happen.  After a while I stopped trading, took a step back and looked at what w

Indeed I have been sat here for a good many tears, I mean years. Did I get rich quick, no. I do treat it as a business though, a buying and selling business. So like all careers there is a lot of

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1 minute ago, nit2wynit said:


Almost every assumption you've quoted above above is wrong.

Nothing else to reply.

 

Thanks

All the working out is within this thread which you contributed to but never actually read at all.

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1 minute ago, Caseynotes said:

Look at the time stamp, hardly enough time to read let alone think, as usual just rapid fire meaningless, pointless reply.

You are incredibly defensive and seeking acknowledgement.  I've listened to you and thanked you the entire time.

I'm often met with arrogance ignorance and sarcasm from you.

You assume knowledge is the same as Learning.  It's not.


You assume everything about me and know Nothing at all.  Your opinion is based upon text only.

you assume most of your knowledge and it's simply opinion.

I've been very open in what I've done and why I've done it.

I don't need your validation to know this.

I'm learning.  I'm happy with this.

 

Thanks

 

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4 hours ago, nit2wynit said:

You are incredibly defensive and seeking acknowledgement.  I've listened to you and thanked you the entire time.

I'm often met with arrogance ignorance and sarcasm from you.

You assume knowledge is the same as Learning.  It's not.


You assume everything about me and know Nothing at all.  Your opinion is based upon text only.

you assume most of your knowledge and it's simply opinion.

I've been very open in what I've done and why I've done it.

I don't need your validation to know this.

I'm learning.  I'm happy with this.

 

Thanks

 

oh, so within a few hours I gone from needing to be more humble to suddenly being 'incredibly defensive and seeking acknowledgement', oh and arrogant.

it's not arrogance to refuse that Limit orders be renamed nit's entries.

it's not arrogance to point out that if the chart price is the same as the buy price then the chart price MUST be set to Ask.

it's not arrogance to point out that the shaded area refers to the min stop level if the chart price is set to ask for a buy order.

Nearly every reply to you has been after time spent on the platform checking this and that, what a waste of time. You don't even bother to read let alone digest the info in my reply posts, or to even check, you just dismiss because ...? of your own arrogance.

And that's my last word, until you respond with yet another bs reply.

  

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17 minutes ago, Caseynotes said:

oh, so within a few hours I gone from needing to be more humble to suddenly being 'incredibly defensive and seeking acknowledgement', oh and arrogant.

No, not within a few hours. I've told I've noticed this since I joined the forum.

There's no doubting your input Casey.  Not at all, but your Bedside manner needs some work.

You can't offend me, ever.  I don't take insults online by strangers personally, for that matter, to my face with people I know.  But it's obvious you're trying too hard to save face after you attempted to insult me cos you basically Got it Wrong.  Now you can't step back.

I've encountered many many people like you in my life.  Like I say, No humility.  Yet here you are still asking for permission to be Right.

You were wrong in your assumptions.  You are still wrong.

What would you like to achieve here?  I'm happy to resolve any misunderstandings.

Can I ask what you do in the real world and how old you are?  It might help me understand your Sarcasm better!

 

Edited by nit2wynit
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I'm going to guess you are in your 30's.  You have trouble in social encounters and often feel alone.  You think the world is dumb and you are smarter than everyone around.  But you feel desperately isolated.  Maybe you are on the Autistic Spectrum?  I don't know.  I'm just guessing as you have about me and what I've revealed about my Learning Process.

You might have a partner, but you don't feel appreciated.  **** life is sedated and often unfulfilling;; for them.  You are self involved but lacking spontaneity and generosity.  you feel like it's easier to belittle and prove your worth , that show support and humility.

I'm guessing here.  

Maybe if you stop insulting clients asking for guidance they' stop revealing who you really are.

But i do wish you the best.

If all that above seem Random, it's not.  Before i decided to learn about Trading, I was considering becoming a Psychologist.  6 years either way, I figured in time I could make more money this way.

But everything I said above may be entirely wrong.; but how could I prove it anyway.

I still thank you for your input Casey.

Edited by nit2wynit
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bedside manor is bs, your account is dying. keep your idiotic psycho babble to yourself.

I'm not trying to offend you but you always refuse to address the points I raise, you ignore them for your own peace of mind

The problem is yours, I've been with IG since 2012, you are not going to last 6 months unless you wise up

oh, just read the bit about a new career, well 6 years to be a professional, makes sense.

I am not insulting people, I am just telling them not to be so bloo dy stupid, this is a tough game and the ne're do wells won't make it.

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16 minutes ago, Caseynotes said:

I am not insulting people, I am just telling them not to be so bloo dy stupid, this is a tough game and the ne're do wells won't make it.

You are insulting.  You're certainly not supportive.

I still thank you for your input.

As for being Polite and BS.....well.

You said it pal.

 

You can either Help or be Insulting.  If you do both, it's kind of redundant.

 

Psycho babble?  Basic Human decency.  Manners.  Social decorum.  Delivery, Politeness.

Why are you here Casey?   To Educate, to to regurgitate?

 

Am I the pupil or the teacher?

i'm here to find answers, yet you seem to have them all, so why are you here?

As for account dying....I've lost more money on Wine, Drugs and corrupt biz partners.  1k.....christ it's pennies.

 

Edited by nit2wynit
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@Caseynotes  Stay with me pal.  :D

I do appreciate it.  we're not robots bud.  It takes time, erros, questions, understanding.  It's not something you learn in a paragraph.  try not be be so angry and frustrated.

Stupidity is expecting a change because of words, not learning.  You think i'm stupid?  Wow.  I learn by doing, by failing.  Cost me 20k for U~ni degree, learned Eff All.

Cost me so far 1k about trading in 4 months.  I think that's a Good deal!

Edited by nit2wynit
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you fail to acknowledge the time i have spent on you, going over problems on the platform, working out what is and what isn't, for you, I don't even trade on the blimmin thing.

I am helping by being honest and truthful, if you see that as being insulting then that's just your perspective (from a position of arrogance obviously) .

I'm here because I've seen this rotation a hundred times, 80% of new traders don't last 9 months, it's like being in the bloo dy matrix.

Again you have added 2 replies before I can send a reply to your post. Try less rapid fire and more thought.

 

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3 minutes ago, Caseynotes said:

I'm here because I've seen this rotation a hundred times, 80% of new traders don't last 9 months, it's like being in the bloo dy matrix.

Do you still want to help me?

everything I post is pregnant with thought

Edited by nit2wynit
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4 minutes ago, Caseynotes said:

you fail to acknowledge the time i have spent on you, going over problems on the platform, working out what is and what isn't, for you, I don't even trade on the blimmin thing.



I have said it before and will say it again; i thnak you for your effort and patience with me.  This is not the first time I have acknowledged you.   You haven't actually given any answers Casey that relate to ME, the Person, The Ego.

It's not that easy.  I'm not a number, I have a personality, a character.  This is the fundamental curiosity before we even get to a chart.

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1 minute ago, nit2wynit said:

Do you still want to help me?

I am happy to try to help anyone, most though just want confirmation of naive and inexperienced concepts of what they think trading should be rather than what it actually is.

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6 minutes ago, Caseynotes said:

I am happy to try to help anyone, most though just want confirmation of naive and inexperienced concepts of what they think trading should be rather than what it actually is.

This isn't me. I don't have a concept.  is it going up or down 10 points?  I can take 5 going either way.  That's my Plan.

I'm highly intelligent.  But intelligence has little to do with knowledge.

I've told you my errors.  Pre-emptive Breakouts.  Consolidation.  Small Stops. Reversals.  Betting against the Trend.

I know time and time again what i do wrong, even as i do it.  My problem isn't what i don't know, it's about what i do.

I can read a chart.  I know what candles are.  I know Support Resistance.  I know about Stop Losses and PL ratios.  I know Spread and Bid Mid and Ask.

I'm not at fault because of what I don't know, but what I do.

Let's start again.  You can be my Best Man if i ever get married :D

 

Edited by nit2wynit
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12 minutes ago, nit2wynit said:

Do you still want to help me?

everything I post is pregnant with thought

pregnant with thought is not thought, it just means you've been *******

you need to drop the personality and be a machine, a number, because the market just does not care about you.

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3 minutes ago, Caseynotes said:

you need to drop the personality and be a machine, a number, because the market just does not care about you.

Agreed.  The Ego is left at the door.  Just try not to be such a **** about it ey!  We're not the Market.  We're people. :D

I've started watching the YT vids you suggested.  I'm 3 in.  Nothing i don't know, but everything i don't apply.

Edited by nit2wynit
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7 minutes ago, nit2wynit said:

I'm highly intelligent.  But intelligence has little to do with knowledge.

yes, the intelligent man knows that a tomato is a fruit but the knowledgeable man knows not to put one in a fruit salad.

Intelligent people think that trading is all about technical analysis but it's not.  

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5 minutes ago, Caseynotes said:

yes, the intelligent man knows that a tomato is a fruit but the knowledgeable man knows not to put one in a fruit salad.

I feel bad saying this now. Knowledge is knowing a Tom is a Fruit.  Intelligence is not putting it in a Fruit Salad.

Intelligence is the ability to think to analyse, to digest.

Knowledge is learning.  Learning that a Tom is a Fruit, for instance.

You can be highly intelligent but know nothing.  But you can now everything yet fail to be intelligent.

But i get your point. :D

Edited by nit2wynit
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5 minutes ago, nit2wynit said:

I feel bad saying this now. Knowledge is knowing a Tom is a Fruit.  Intelligence is not putting it in a Fruit Salad.

Intelligence is the ability to think to analyse, to digest.

Knowledge is learning.  Learning that a Tom is a Fruit, for instance.

You can be highly intelligent but know nothing.  But you can now everything yet fail to be intelligent.

But i get your point. :D

that's fine, the saying is borrowed from differentiating between smart and wise.

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8 minutes ago, Caseynotes said:

that's fine, the saying is borrowed from differentiating between smart and wise.

It certainly is.  Knowledge is knowing, Wisdom is knowing what to do with knowledge. 

 

OK, pissi  ng contest over.  Di..cks well and truly shown.

I have an education to acquire pronto.  I have every day for this.  My success is a few pages away.

Here's hoping that's true.

My greatest learn is not about Instruments, Indicators etc. but how I perceive the market and my approach to it.

It's clear to me now that with only 1k I can only really achieve £2.50 or £5 in small amounts.
 

I'm not trying to make back my losses, they were a lesson.  I just want to grow from £953.

 

Peace

Edited by nit2wynit
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Always remember that you can have the most perfect education, the most complete plan in the world, and you could still lose money.  That's the nature of trading and that's why you will almost always see every trader that 'makes' it stops making trading their main source of income and starts selling training courses and books instead.  Because it's a steady, stable income - something trading can never be.

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19 hours ago, dmedin said:

Always remember that you can have the most perfect education, the most complete plan in the world, and you could still lose money.  That's the nature of trading and that's why you will almost always see every trader that 'makes' it stops making trading their main source of income and starts selling training courses and books instead.  Because it's a steady, stable income - something trading can never be.

but, but, there are some 10 million fx traders alone, that must make for a pretty cramped educators market and so  probably not a steady stable income at all except for the very few, if the above was true.

And if you are trading the longer time frames you do have the time to do both, why would you 'stop it' if you have 'make it'.

And though you could lose any single trade, if your trading system is not profitable you're not going to last long anyway. If you have a history you are going to be nagged constantly to give tuition.

The real problem is that systems are personalised, it's unlikely you could just pick up someone else's system and instantly make it work, the skills are not really transferable but rather need to be learnt by each individual. Probably the biggest benefit to a learner would be to have someone point out the dead-ends in advance, that would save an enormous amount of time/money.

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27 minutes ago, Caseynotes said:

but, but, there are some 10 million fx traders alone, that must make for a pretty cramped educators market and so  probably not a steady stable income at all except for the very few, if the above was true.

And if you are trading the longer time frames you do have the time to do both, why would you 'stop it' if you have 'make it'.

And though you could lose any single trade, if your trading system is not profitable you're not going to last long anyway. If you have a history you are going to be nagged constantly to give tuition.

The real problem is that systems are personalised, it's unlikely you could just pick up someone else's system and instantly make it work, the skills are not really transferable but rather need to be learnt by each individual. Probably the biggest benefit to a learner would be to have someone point out the dead-ends in advance, that would save an enormous amount of time/money.

 

All true ... I still have my fingers crossed :D

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1 minute ago, dmedin said:

 

All true ... I still have my fingers crossed :D

I think one of the most valuable tools for saving time is a simulator, you are able to run a weeks worth of system checking in a few hours on a Saturday afternoon with a read out stating plainly if the system is likely to be viable or not, yes it would still need to be checked out live but you have a head start in saving yourself a week on demo.

Sure you can do similar with just straight manual back testing but it's too easy to con yourself using that method.

With a sim you can slow fast forward to find the set up, stop to set the orders, then fast forward to see the result which is recorded for you, run 20 - 30 trades and see the aggregate score, throw away and start again or refine and retest.

 

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What I'm asking is, is there anything obvious in this that i'm not aware of, that i should be considering?

I know it's a slow mover and with only £1ppp it's not going to make me smile after 4hrs.

I'm just going over my own ideas to see where i might be going wrong.  

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15 minutes ago, nit2wynit said:

How's this for a Trade Idea folks.?  Back to DB.

Any thoughts on it.

There was a strong bullish open with a test and acceptance of support at 682 so need to be a bit cautious shorting, the H1 chart looks to be the give away one with the last candle (10am) an inside pause, the next candle could be either a continuation up candle or a reversal candle. A close of this 11 am candle below the 9am candle would seem to signal the reversal scenario was in play.

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    • I'll try one last time to get my point across, this time without any stats or charts, simply a link to a thread on Reddit with people describing their experiences of getting back into running post Covid. These are the people that aren't in the death stats. You will probably say that they are just "random people on the internet". Well I am part of this community and know several of them in the thread.  I also know of two others who are experiencing affects long after recovering from Covid- one still gets out of breath after walking up stairs (was previously very fit) months later and another, a semi-pro singer who literally can't sing anymore. @Caseynotes Keep posting your memes and **** but be aware that you contributing to people taking covid less seriously and ultimately ending up like those in this thread:
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