Lyx Uk Qual Div Discussion Threads

[neo anderson] 22/1/2004 22:51

maestro.

IMO what you're doing is basically putting your chips on a roulette table. We've experienced a significant inrease in share prices across the board lately and many have made money given the environment.

You should seriously think about the amounts that you're talking about. If you could afford to trade with the values that you mention you wouldn't have the debts that go with it.

maestro you should consider your position and pay those debts. You will come a cropper if you carry on and there won't be any people on this board to help you when it happens. They'll egg you on when it's not their cash and they'll fall silent when you're officially delcared bankrupt.

Think about what you're doing. You've had some luck, capitalise on it and exit.

Regards.

Lecturer Anderson (for the right reasons)

[maestro.] 22/1/2004 22:48

keane...bet jarvis myself,should come good soon...i tend to average down if a bet falls alot and keep taking a quick profit as it rises again...i reckon Lloydstsb is a good one to keep taking a quick 5pts profit as it rises and falls with the market...

[maestro.] 22/1/2004 22:42

MAD4IT..cheers for that...hard to know when to cut your losers though..take TBI for example...i'm 800 quid down but reckon it would be daft to sell now...a little patience could see it up again...however i agree it is sometimes best to get rid of your losers and start with a clean slate...having deposits tied up can stifle your trading...

[oswd] 22/1/2004 22:40

The Knowing - my thoughts, I will take a look at GOS.

Cheers.

[the knowing] 22/1/2004 22:32

Everyone slaughtered you maestro for QXL but you proved them wrong !

Well done

(Go defensive and buy GOS)

[mad4it] 22/1/2004 22:31

maestro

That's a tricky one to precis into one post.

There are the classics of course:

1) Run your winners, cut your losers.
2) Trade what you see, not what you hope will happen.
3) Don't be a permanent bull or a permanent bear.
4) DYOR.
5) Find a trading style that suits you.
6) The key to making it as a trader is capital preservation...the longer you can afford to stay trading, the better you will become.
7) Always remember the market is really about 2 things: Greed and fear.

8) Never trade with money you can't afford to lose....but I've seperated this rule because in all honesty I AM trading with money I can't afford to lose. IE: The vast majority of my wealth is in the market, but as a full time trader I accept this (big) risk....you need balls to win the game.

...and so on...


Even though I'm a full time trader I only consider my breadth and depth of market knowledge to be at an 'Intermediate' skill level. However I have gradually developed a successful trading strategy based on what suits my personality and thought process. I have discovered that by 'knowing thyself' as a trader I can often outperform even the most knowledgeable trades.

This is mainly because I maintain an open mind about every trade I make. I never assume I know better than the market. If I had one criticism of the pro traders on this board it would be that, despite their superb knowledge of the market, they often brake or ignore the classic rules I've posted above and negate their own expertise.

But all that's just the tip of the iceberg really. Can I really explain why I'm one of the 5%....Not really. It's all down to individual personality and how you see things.

IE: One person looks at a share and thinks it's a buy, while another person thinks it's a sell. Thus it was, so shall it ever be I.

[oswd] 22/1/2004 22:30

mad4IT - 18K acquired from any source and reinvested in a massive growth stock will lead to significant gains such as QXL, a little like gearing.

Well done maestro!

[+eysenck] 22/1/2004 22:23

Hi Maestro, keep up the good work - best thread by miles!

Eysenck

[maestro.] 22/1/2004 22:11

mad4it...could have sold QXL at 800p and got 18k and wiped out credit card debt in one go...but didn;t..thought i'd wait for 1600p and wipe loans out as well..then i'll be sorted

[mad4it] 22/1/2004 22:08

Rip - lol!

I certainly don't approve of the 18k on credit cards. THAT is a recipe for disaster IMHO. Plus, like I intimated, there's a good reason why the stats show only 5% of stock market traders make money!

But we all need a 'dream' and making a fortune on the stock market is as good a one as any IMHO.

[maestro.] 22/1/2004 21:59

mad4it...what tips can you give us regards trading?always willing to learn from the pros

[keane16] 22/1/2004 21:49

I started of very small went long on jrvs last week, down every day since.
Went long on Aht & Arx last week, they've come good this week.

Quite new to shares though, taking it a step at the time though.

[le ripper] 22/1/2004 21:45

I'm not sure about that mad, he's still backing the same stocks ! moni bhm red twt qxl etc. The difference is that these stocks are in fact recovering, as opposed to tanking in that bear market.

your right about him being bonkers though, more nuts than a 25lb fruit cake in my opinon !

[maestro.] 22/1/2004 21:43

keane...yes it is risky..not good for the heart...i'm with IG,CANTORS AND CITY INDEX but might ditch the last two...spreads are too wide for my liking.I've a stop loss on all bets but not guaranteed but may change to guaranteed.I've been doing it for 12 months and lost about 7k when i first started so be careful.Reckon the safest way to do it is to buy shares with low price and bet big..ie Thus,BATM,PXC,tAD....made a packet on Thus from 8p upwards,around 8k profit...what spread bets have you opened?how are they doing?

[mad4it] 22/1/2004 21:39

maestro

Undoubtedly far and away the best thread you have ever started.

You have obviously learnt a lot from your past trading mistakes....a far more difficult thing to do than most non traders realise.

Well done.


( You're still madder than a box of frogs though! lol! ;)

[keane16] 22/1/2004 21:31

Can't believe I've not seen this thread before.

I've just got into spreadbeting recently, risky business.

Who do you spreadbet maestro?
I'm with IG, do you have a stop loss on all bets?

[le ripper] 22/1/2004 21:27

aye that bull run had to end sooner or later, seems to be helping my azn spread bet anyway, they pile out of the dodgy stocks and into the safe ones.. result !

[oswd] 22/1/2004 21:19

Hi Rip
.....................

Hi maestro keep the thread going, very interested.

Regards

[maestro.] 22/1/2004 21:18

rip...lost my bottle today and cashed in all my bets that were in profit...total banked since january 1st is 8.2k[started with 2k]but running loss is 3.2k so 3k up this month...might cut and run if markets go down any further but Microsoft report tonite so it might start things going again...good tip :avoid Bookham ...too risky!

[le ripper] 22/1/2004 21:11

Hows it goin then maester, whats your overall profit/loss for January so far ?

Was geytting hammered by AZN last week, but they've come back like a good un, the big profitable ones always will, it suffered short term due to a weak US dollar.