Hi to All… I am new on the trading area, started only 2 months ago (but I have 15 years investment banking experience in Risk Management).
I started a trading account with 4900 and I am currently at almost 9000 (with about 1000 of carried losses from some position made as hedges). Last week I decided to enter a monthly competition with a new broker (wins up to 10k for 6 months and a Mercedes E class) but despite I am doing well (80% in less than a week) the first three did over 1000%. I guess we are all trading EUR GBP but the difference is just leverage as I am trading “conservatively”.
Any suggestions? I don’t do well on signal trading, I trade on news and my own interpretation of what people say, which sometime is actually against what market thinks especially when they misinterpret a rumour… the issue is that as the market misinterpret actually I start loosing money and have to hold my positions until the finally the right interpretation is accepted. Any suggestions? shall I just play like the markets or what?
Hi Alberto…
and… You’re asking US for advice, are you ?
wow
I would think that we would be humbled to learn from you and your experience,
we get a lot of newbies here (not that you are one of them)
we don’t get a lot of people from investment banks coming back to playschool , if you know what i mean hehe.
Mate i have 7 years trading experience, I"m doing very well
but honestly, i don’t know if and how i can help you , you have 15 years experience,
Hallo Martin, thanks for coming back to me. Well my experience is less practical in terms of trading on a platform… so actually I am very happy to learn humbly from anyone…
@Albrto277
Mate (i speak for myself here, but i think others might agree)
I think it would be awesome if you did share that with us
and , Me Personally, I’m happy to help you in any way that i can.
I’m an I.T. Expert , so if i can help in that respect, feel free to ask.
Been Trading for 7 years (i’m probably not at your level, but i am still going strong with forex and in profit)
My Risk Management is pretty basic as far as that’s concerned
in short, I put a lot of focus on Protecting the account, Calculating what i do, i have a spreadsheet that Accounts for Account balance, Nominal Margin and the % of both that is at risk during Trading, as well as where my stop loss is placed and therefore what lot size is used
as you can see, Nothing impressive, pretty standard stuff, but it has kept me safe over the years.
I’m sure you can offer a lot more advice
but what can i offer to you in return for sharing your knowledge ?
I guess here is where my investment banking background might make the difference, as I don’t trade on signals but rather on news and the fact that these are often mis-interpreted. I do hedge my positions to avoid unexpected movements that is why my upside is limited, I guess, but also my downside.
let assume based on hard facts, risk drivers in Economy A suggest a serious underlying weakening which has not been picked up by mainstream due to “locals noise” and oblivious optimism… (like for instance subprime crisis in the US)… underlying asset prices will continue go up but it almost impossible to say when they will go down. So the strategy is to gain together with the market on the way up but starting building my LT position, waiting for the CRASH EVENT… in the meantime, I accumulate equity to support my Long term positions which do not overweight my ST positions until there are clear sign that the market has finally understood what is going on…
A " Nimber" is a minor libation, comprising two fat fingers of “suppin’ whiskey” a splash of Pepsi and topped up with lemonade, taken a “Nimber” of times ! (Purely medicinal you’ll understand, My missus has a cold and this is taken as an oral protective measure )
