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Day Trading for a Living

  • #301
  • Jul 6, 2012 6:28pm Jul 6, 2012 6:28pm
Quoting Turveyd
Got to hate computers I sure do, shame really as I'm a computer programmer / odd job man.

Why I trade of my I-pad mainly these days, atleast it doesn't crash or play up like a PC does.
I use some Advent centurion beast I bought from PC world a while back, its got 8gb ram and I upgraded it to some fancy i7 processor with an nvidia gtx 670, it smashes skyrim on maxxed out settings...did I mention I was a skyrim fan? I use LG 23" screen @ 1920x1080 resolution when trading, any lower and its just not possible, idealy though I could do with a fat 6 or 8 screen set up just for the hell of it, it would save me clicking through the tabs on MT4 looking at the different pairs, as you can imagine how much hard work that is.. *sarcasm*
  • #302
  • Jul 6, 2012 6:32pm Jul 6, 2012 6:32pm
Quoting GDR3k
I use some Advent centurion beast I bought from PC world a while back, its got 8gb ram and I upgraded it to some fancy i7 processor with an nvidia gtx 670, it smashes skyrim on maxxed out settings...did I mention I was a skyrim fan? I use LG 23" screen @ 1920x1080 resolution when trading, any lower and its just not possible, idealy though I could do with a fat 6 or 8 screen set up just for the hell of it, it would save me clicking through the tabs on MT4 looking at the different pairs, as you can imagine how much hard work that is.. *sarcasm*


...

I run 2 screens on the PC and the Ipad's screen, 1 for charts 1 for work / tv / Firefox really I want a 3rd screen, can get a USB plug in for more screens so when I've got the funds I'll go 3 or 4 screens I think!!

It does cut down on stress, 1 for flicking around and 2 for watching them full time as I keep missing and forgetting plays I'm stalking.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #303
  • Jul 6, 2012 6:41pm Jul 6, 2012 6:41pm
Quoting Turveyd
I run 2 screens on the PC and the Ipad's screen, 1 for charts 1 for work / tv / Firefox really I want a 3rd screen, can get a USB plug in for more screens so when I've got the funds I'll go 3 or 4 screens I think!!

It does cut down on stress, 1 for flicking around and 2 for watching them full time as I keep missing and forgetting plays I'm stalking.
I've been saying for ages I'll get one of them 4 or 6 stands but I just can't be bothered buying them, I'd have to buy more graphics cards and all that, I'm sorta used to using the one screen now and I only trade 4 pairs so its not that much hassle tabbing through them (even though I like to make out its such hard work..), however, when I turn into a lazy bar steward, which isn't far off, I'll buy that stuff for the sake of it, so I can look like one of them W..bankers you see on TV behind their trading desks with about 8 screens.

  • #304
  • Jul 6, 2012 6:48pm Jul 6, 2012 6:48pm
Quoting GDR3k
I've been saying for ages I'll get one of them 4 or 6 stands but I just can't be bothered buying them, I'd have to buy more graphics cards and all that, I'm sorta used to using the one screen now and I only trade 4 pairs so its not that much hassle tabbing through them (even though I like to make out its such hard work..), however, when I turn into a lazy bar steward, which isn't far off, I'll buy that stuff for the sake of it, so I can look like one of them W..bankers you see on TV behind their trading desks with about 8 screens.

You can get a USB video adapter and run like 4 screen off it for £80 area, hard to get a graphics card with more than 2 which I've already got.

I can't survive work wise without 2, read info on this, move to another tab and it's forgotten and repeat a few times, 2 screens nice and easy, must of had 2 screen for going on 10years already.

When I get to taking a wage level it'll be 1 of the first things I invest in, likely a 40" on the back wall above the other 2 and a 3rd 1 to my right, with the main screen a huge 24" or something!!

Ahhhh to be rich!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #305
  • Edited Jul 7, 2012 4:44am Jul 6, 2012 7:04pm | Edited Jul 7, 2012 4:44am
Quoting Turveyd
You can get a USB video adapter and run like 4 screen off it for £80 area, hard to get a graphics card with more than 2 which I've already got.

I can't survive work wise without 2, read info on this, move to another tab and it's forgotten and repeat a few times, 2 screens nice and easy, must of had 2 screen for going on 10years already.

When I get to taking a wage level it'll be 1 of the first things I invest in, likely a 40" on the back wall above the other 2 and a 3rd 1 to my right, with the main screen a huge 24" or something!!

Ahhhh...
Haha strange that, I trade for a living, all bills are paid off with just 33 pips a month at my usual lot size however that decreases every few months, the rest goes right into my bank and gets blown on absolute b*llocks like cigars, whisky, nights out, things I don't need, etc, I'm not tech savvy however I'd love something like a 50 incher with the 4 charts scattered across it, I could sit there on my sofa in my underpants, right click > new order > long/short on any of the 4 pairs I trade. that would be absolute heaven, I've missed out on a fair few trades because of this one screen set up, mind you, having to switch between pairs, while its only a click away, can be a costly click.

Anyway, I best get back to the fiddich, shes calling.
  • #306
  • Jul 6, 2012 7:38pm Jul 6, 2012 7:38pm
Quoting GDR3k
Haha strange that, I trade for a living, all bills are paid off with just 33 pips a month at my usual lot size however that decreases every few months, the rest goes right into my bank and gets blown on absolute b*llocks like cigars, whisky, nights out, things I don't need, etc, I'm not tech savvy however I'd love something like a 50 incher with the 4 charts scattered across it, I could sit there on my sofa in my underpants, right click > new order > long/short on any of the 4 pairs I trade. that would be absolute heaven, I've missed out on a fair...
Everything paid for 33 standard pips to you, WOWSA's $50 per pip ??

I'm trying to build upto 60pips per day at $2 per pip which would pay my bills and everything ( £1200 UK based on a 4 day week ), obviously I'll keep increasing the lot size to $10 maybe $20 but $50+ ecccks, $2 is scarey enough.

100pips per week at $5 would ofcourse pay my way just, looking more realistic
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #307
  • Edited 5:04am Jul 7, 2012 4:39am | Edited 5:04am
Quoting Turveyd
Everything paid for 33 standard pips to you, WOWSA's $50 per pip ??

I'm trying to build upto 60pips per day at $2 per pip which would pay my bills and everything ( £1200 UK based on a 4 day week ), obviously I'll keep increasing the lot size to $10 maybe $20 but $50+ ecccks, $2 is scarey enough.

100pips per week at $5 would ofcourse pay my way just, looking more realistic
My usual lot size is 4, that works out to around £25/pip on eurusd at its current price, all bills are paid on about £810 a month (its cheaper up in the north west, especially in the area I'm in), I live in a rented semi 3 bed house on me own, £475 a month rent and the rest goes on electric, etc, mainly that though as its on all the time through trading and me being in the house all day.

  • #308
  • Jul 7, 2012 5:35am Jul 7, 2012 5:35am
Quoting GDR3k
My usual lot size is 4, that works out to around £25/pip on eurusd at its current price, all bills are paid on about £810 a month (its cheaper up in the north west, especially in the area I'm in), I live in a rented semi 3 bed house on me own, £475 a month rent and the rest goes on electric, etc, mainly that though as its on all the time through trading and me being in the house all day.

So $40 per pip then, I need approx £1200 living here £1500 to be sure plan is to move out with another girlie so need £2500 most likely per month only way to do it is trading, solve my trend trading mental block and should be fairly easy.

I used to see a girlie in newcastle nearly moved up there 9 years back I liked it up there not that I could understand anyone.


Your average SL hit is about a £500 loss then ouch.

How long have you been full time for ?
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #309
  • Jul 7, 2012 5:53am Jul 7, 2012 5:53am
Quoting Turveyd
So $40 per pip then, I need approx £1200 living here £1500 to be sure plan is to move out with another girlie so need £2500 most likely per month only way to do it is trading, solve my trend trading mental block and should be fairly easy.

I used to see a girlie in newcastle nearly moved up there 9 years back I liked it up there not that I could understand anyone.


Your average SL hit is about a £500 loss then ouch.

How long have you been full time for ?
Never been to newcastle in the north east, I used to be in newcastle by stoke on trent a fair bit with work.

I was with a girl from round my end but that ended a few months back, so just living on my own for now until something comes along, only my dog to keep me company at present, I sometimes prefer a dog to a woman though

Been full time since February this year after getting laid off from my job, when the SL gets hit its not a pretty sight as you can imagine but on the flip side though its only a small % of my account, I also tend not to look at the 'trade' tab which shows P/L when in trades, I keep it on the news tab or something, just seeing that P/L figure sometimes can change your mental state and you close a trade early instead of letting it carry on, etc. Plus I feel more relaxed when I can't see my P/L while in a trade, its strange.
  • #310
  • Jul 7, 2012 7:23am Jul 7, 2012 7:23am
Quoting GDR3k
Never been to newcastle in the north east, I used to be in newcastle by stoke on trent a fair bit with work.

I was with a girl from round my end but that ended a few months back, so just living on my own for now until something comes along, only my dog to keep me company at present, I sometimes prefer a dog to a woman though

Been full time since February this year after getting laid off from my job, when the SL gets hit its not a pretty sight as you can imagine but on the flip side though its only a small % of my account, I also...
North west not east.

Woman are a pain but highly addictive.

Good job you had the market in place to fall back on hey

I tried hiding it blew my account without realising how bad the losses was.

Plan for next week is back to 1/10th my lot size so I won't care about losses and force myself to trade with the trend rather than constantly bottom fishing.

I'm good at chop suck at trend despite having a very good trend system I just don't use.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #311
  • Jul 7, 2012 11:55am Jul 7, 2012 11:55am
Quoting Turveyd
North west not east.

Woman are a pain but highly addictive.

Good job you had the market in place to fall back on hey

I tried hiding it blew my account without realising how bad the losses was.

Plan for next week is back to 1/10th my lot size so I won't care about losses and force myself to trade with the trend rather than constantly bottom fishing.

I'm good at chop suck at trend despite having a very good trend system I just don't use.
Yeah I was going to leave my job and trade full time this year anyway as financially it made sense, to me atleast, it just so happens they laid me off so I had to start a bit sooner than I'd liked, its hard trying to trade around work when you've got a 8-5 job so alot of the time I'd have the charts up on my phone and 'paper trade', going full time though the biggest hurdle was getting over the initial boredom, I was climbing the walls for about a month as I wasn't used to sitting at a computer all day on my own, essentially doing nothing, looking at a few pretty charts and waiting, all day sometimes, not interacting with anyone, it can be a lonely 'profession' but its worth it.

  • #312
  • Jul 7, 2012 12:17pm Jul 7, 2012 12:17pm
Quoting GDR3k
Yeah I was going to leave my job and trade full time this year anyway as financially it made sense, to me atleast, it just so happens they laid me off so I had to start a bit sooner than I'd liked, its hard trying to trade around work when you've got a 8-5 job so alot of the time I'd have the charts up on my phone and 'paper trade', going full time though the biggest hurdle was getting over the initial boredom, I was climbing the walls for about a month as I wasn't used to sitting at a computer all day on my own, essentially doing nothing, looking...
Im used to doing nothing much self employeed and dont work that much, boredom does lead to stupid trades at times still.

Ive got work this month maybe next so cash will run out end of september or october more might come but want a operational plan B by then.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #313
  • Jul 7, 2012 12:47pm Jul 7, 2012 12:47pm
Hi all, I started again on Friday after re-funding my account with £1000, made 100 pips at £1 a pip on friday, mainly trading after lunch time (GMT) trading mostly Euro/Usd and Nymex (US Light Oil), trading 5% a time, which I know is quite a lot in one go, but trying to trade less and let them hit there stops or limits.
So far so good, I might just work on taking all profits on a weekly basic at the moment after I hit 500 pips a week.
I am working on a 50 pip stop (quite a large risk) to a 60 pip limit, giving me a 1.00 / 1.200 reward.
Been refreshing my stratedy again today all ready for sunday night opening. Short with small trade on Euro/Usd is still running, and I hope it don't gap up (slippage).

Do we ever get slippage in our favour.....it seems funny how the Stop Limit always works fine, but not the Stop Loss (Greedy Brokers). Are stop loss manually activated and stop limits controlled by P.C.'s ?
  • #314
  • Jul 7, 2012 12:52pm Jul 7, 2012 12:52pm
Quoting Turveyd
Im used to doing nothing much self employeed and dont work that much, boredom does lead to stupid trades at times still.

Ive got work this month maybe next so cash will run out end of september or october more might come but want a operational plan B by then.
It did with me at first and they were almost always losers
  • #315
  • Jul 7, 2012 1:01pm Jul 7, 2012 1:01pm
Quoting Mossy68
Hi all, I started again on Friday after re-funding my account with £1000, made 100 pips at £1 a pip on friday, mainly trading after lunch time (GMT) trading mostly Euro/Usd and Nymex (US Light Oil), trading 5% a time, which I know is quite a lot in one go, but trying to trade less and let them hit there stops or limits.
So far so good, I might just work on taking all profits on a weekly basic at the moment after I hit 500 pips a week.
I am working on a 50 pip stop (quite a large risk) to a 60 pip limit, giving me a 1.00 / 1.200 reward.
Been refreshing...
http://www.oanda.com/currency/live-e...-rates/EURUSD/ to check the current price over the weekend

I've had times when using cTrader when I've placed a stop loss, the price has gone through the stop loss and continued and not closing the trade, making my losses considerably more (an email to the broker and everything was sorted, however thats besides the point and it was a bit of a pain), so I don't use that platform anymore, atleast with mt4 you know what you're getting and luckily I've not had any problems with my broker yet.
  • #316
  • Jul 7, 2012 1:03pm Jul 7, 2012 1:03pm
Hello All

I am 17 years old been trading for about a year and a half and am very much interested in this thread.

Not currently trading for a living as i have no expenses and live at home .

Though i do hope i dont have to work and can make a living before entering the job market.

I am playing live with pocket change trying to get the knack of this game. In no trades currently as market is ranging.
  • #317
  • Jul 7, 2012 1:04pm Jul 7, 2012 1:04pm
Quoting GDR3k
http://www.oanda.com/currency/live-e...-rates/EURUSD/ to check the current price over the weekend

I've had times when using cTrader when I've placed a stop loss, the price has gone through the stop loss and continued and not closing the trade, making my losses considerably more (an email to the broker and everything was sorted, however thats besides the point and it was a bit of a pain), so I don't use that platform anymore, atleast with mt4 you know what you're getting and luckily I've not had any problems with my broker yet.
Changed brokers about 6 weeks ago when my Gold Trade went through 85 pips past my stop loss, wrote to them and threatened them with a letter to the FSA and they refunded me, but the 2 telephone calls did not make any difference.
  • #318
  • Jul 7, 2012 1:12pm Jul 7, 2012 1:12pm
Quoting Mossy68
Changed brokers about 6 weeks ago when my Gold Trade went through 85 pips past my stop loss, wrote to them and threatened them with a letter to the FSA and they refunded me, but the 2 telephone calls did not make any difference.
Not good, I believe in most brokers small print it states that a stop loss order isn't guaranteed, which basically gets them out of the sh*t should it not close your trade, however how morally right that is remains to be seen, its happened once to me with mt4 and I was quite a bit in the negative, then my trade closed automatically eventually, way past its stop, but only the money risked by my the stop level was deducted from the balance, so it worked out alright in the end.

Quoting jibjib210
Hello All

I am 17 years old been trading for about a year and a half and am very much interested in this thread.

Not currently trading for a living as i have no expenses and live at home .

Though i do hope i dont have to work and can make a living before entering the job market.

I am playing live with pocket change trying to get the knack of this game. In no trades currently as market is ranging.
Hello and welcome, whats your trading method/strategy?
  • #319
  • Jul 7, 2012 1:17pm Jul 7, 2012 1:17pm
I use s/r with price action and daily time frames
  • #320
  • Jul 7, 2012 1:29pm Jul 7, 2012 1:29pm
Quoting jibjib210
Hello All

I am 17 years old been trading for about a year and a half and am very much interested in this thread.

Not currently trading for a living as i have no expenses and live at home .

Though i do hope i dont have to work and can make a living before entering the job market.

I am playing live with pocket change trying to get the knack of this game. In no trades currently as market is ranging.
Silly question....is there a minimum age to open up a Forex Account ? Thought it might be 18
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