Very probably, although I don't think I ever got on one of those.
Very probably, although I don't think I ever got on one of those.
I wouldn't worry Baz, there was no mention at all of any free moniez to play with.
You get a free share each, worth upto £100.Originally Posted by Yevrah
I'm a twit
I mean not to piss on chips but why not invest in an index or robo investor which means you're not stuck at .1% or whatever. I've got some longer term investments at the moment but wouldn't have the stones or initial bank to make it worthwhile (plus every trade request needs to be cleared first so I can't just buy/sell as easily).
My nutmeg account for example has made time weighted growth of 23%.
I like to consider myself a reasonably intelligent man, but reading Mellin's posts makes my brain try to leg it out of my ears. I got as far as 'Blue circle - histogram' before the full short-circuit cut in and I got a five minute screensaver of myself lying on a tropical beach while a mysterious man with a Brummie accent gave me a full-body massage.
Don't be a pussy Mellin. Short big oil Yev. Back our man Elon all the way.
No free share has shown up for me either Yev, so no idea whats gone on there.
But, if you put FMStoXkl in the promo box you will get a free share anyway. I just got 1 share of EasyJet.
Usually takes a day or so as they have to allocate the share.
Or maybe rather than using a random one off Google, use mine?
FzFsneBk
I'm a twit
Thinking of signing up to specifically not use Baz' code and then shut the account down.
I don’t even have it installed anymore tbh
I'm a twit
I have this too but I'm sure if I ignore it and don't mention my activity it'll all be fine.
Back in on RR @ 101.32. S/L 99.5. Bit riskier and as usual no guarantees, but reason being is daily MACD suggests further upside. Low risk/reward ratio because of this:
Two diagonal lines which I've drawn and form a pennant. They are your support and resistance levels, hence the price continues to bounce off both sides. Has pulled away from the lower trend line slightly after a third visit, so S/L below the lows and hoping for a breakout upwards on it's fourth touch of upper trend line. Will add further size to trade if it breaks through. If not, a small loss. If it does, should hit 130, perhaps even 145. That's your risk reward lads and is basically the name of the game.
Fundamentals are good too, although not specific to RR.
https://m.investing.com/economic-calendar-/
CPI, PPI and RPI all beating projections.
2 massages in a day Jimmy?
"and form a pennant"
In fairness I do the same shit but for fucking golfers so I should probably just leave the adults to it.
I genuinely think we're going to need a zoom group to get our heads around all of this.
Is anyone actually interested in this or shall I just shut the fuck up and let the thread die?
I'm both very interested and very confused.
Is anyone actually interested in this or shall I just shut the fuck up and let the thread die?
I'm interested (as a reader), I'm just not biologically capable of taking it all in.
Actually interested yeah but can you maybe post a glossary or something.
Sorry, didn't mean to come across as condescending.
100% interested, it's just a bloody minefield. Which is reassuring in a way as if it were easy there'd be no money to be made from it.
I like the colours Mellin uses in the graphs.
Closed for a small profit. I'll have another look at it tomorrow.
Very interested, Uncle Mel. I'm massively keen to turn this from a Football Manager forum into an Investment Manager one. Lets make the forum private and finally get along with a shared goal.
Is anyone actually interested in this or shall I just shut the fuck up and let the thread die?
Roger
RR not looking particularly strong, so I might close the trade soon. Wouldn't advise following in if anyone's considering it. Currently hovering around my entry point (no profit, no loss).
I'll try and post a glossary for any bullshit trading terms which need explaining in future.
What do you think of Palantir? I've seen a lot of buzz about it and tempted to get involved as a higher risk/reward shot.
Sorry, just seen this. Overbought so I wouldn't get involved personally. Not at this stage anyway. Has the potential to be a runner though.
I thought he meant you get out at 1 pip up, take the profit, then put it all back for the next pip up, etc etc. So you're constantly increasing your stake as it rises. But I could be wrong.
Close. You don't get out as you have to pay the spread (distance between buy price and where you enter to pay the broker) again on your first trade. Simply leave that running and add a further trade with profit made at that stage.
This is the bit that confuses me. How am I leveraging profit that I haven't yet realised?
If I buy one share for £1 and it's worth £2 the next day I can't do anything with that additional £1 until I've sold the original share. Or is this where spread betting comes in and if so, how does that work?
You may have explained this above already, but like i said, minefield.
On the negative side you want to ensure you don't get margin called, where a trade is automatically partially closed on your behalf. IG is best for this as they allow slippage and won't simply close the trade (partially) immediately. It's one of the main (many) reasons why once you've built account size you don't want to be sticking your whole account on a trade. You're right, minefield. It's hard work and there's a lot to learn, but it's rewarding if you apply yourself and have a knack for it.
It's all about price per pip. A pip being a point, so an increase from 75 (buy price) to 130 (sell price) = 55pips.
If you buy 1 share, which for RR at 75 (the higher the price the more expensive the share) equates to £15. So 1 share x 55 = £55 profit.
£1,005 buys you 67 shares @ 75. So to be precise that rise would've been 67 x 55 which is £3,685. The higher your exposure, the more profit, but naturally the higher risk. I don't max my account on trades, but if you're starting out with 1K I feel it's the best way to gain traction. Be patient, try to find the perfect set up and then be aggressive by scaling up.
By scaling up I mean if you've staked 67, then for that pip you gain £67. So at 76 you can buy a further 4.44 shares (67/15.2 as £67 increase and £15.20 per pip @ 76). Continue this process until you hit a major resistance, which is usually a moving average on a higher time frame (hourly/4 hourly/ daily).
And I repeat I'd only be that aggressive with a smaller account to gain some capital and if you can risk 1k. You get yourself up to 5k+ with one good move and you should start reducing your size as a percentage of your account (3% tops per trade is my rule, usually 1%). If I get momentum I'll consider scaling in, so increasing size whilst already in profit and with no risk (I'll stop out for zero at worst).
With spread betting you can use that profit as margin and invest it further.
Cheers.
The arrogant part of me that understands nothing of this thinks "how hard can it be - it's just shuffling numbers around a spreadsheet and I do that all day anyway", then the sensible part of me kicks in and I imagine what it would be like to have to rent rooms in my house out to cover my debt and unwavering addiction, while also doing favours for sailors as tenants alone will never be enough to cover the mess I've made of my finances.
On a more serious point, the shares in the company I work for are now worth more than double what they were 6/7 months ago and I missed the opportunity to make a genuine fortune because I didn't have the balls.
How would you get in debt? Are you planning to take the margin route? I'm only investing what I have, so the worst it can get is losing what I have. I don't have the balls to go any deeper than that.
Margin doesn't equal debt. You could only get in debt by sourcing a loan externally (on retail accounts ie. not professional). You obviously can lose whatever you put in though.
Yeah, it's definitely not easy and the early months especially can be challenging. You learn by doing and mistakes cost money.
I still kick myself for not going in heavy on tech in late March/early April. Had a real good look and bottled it. Would be a millionaire.
Having said that it's massively rewarding when you get it right both emotionally and financially.
Tesla's on steroids again.
Going to need to do some proper reading on this and start taking some risk here.
I’ve been shoving money into a bank account the last year or so but I’ll have the free time to read up on this jazz in the short term (weekends/xmas) so might as well work out what’s happening and crack on.
Think I’ll need to make myself some notes...
Useful resources appreciated.
Study:
Technicals
Fundamentals
Indicators
Strategy
Psychology
IG have a learning centre for the basics. Investopedia is good for getting lost down the rabbit hole. YouTube has a million videos.
Appreciate that.
I think for the numpties amongst us (and I am very much in the numpty camp) Mellin should just quit his job and manage a hedge fund for us full time instead, creaming off commission as he goes.
Put yourself on the market (oi oi) Mellers and let us invest in you properly.
Lazy fuckers.
20%
New York schools to close. Hello. Looking for shorts.
Short = Wagering that the market will go down Boyd you big spaz
I knew that one. Margot Robbie taught it to me from her bubble bath and it stuck. You want 20%? Get those taps running.
I know that much ffs. It's the acronyms you keep littering your posts with that I want explaining.Lazy fuckers.
20%
New York schools to close. Hello. Looking for shorts.
Short = Wagering that the market will go down Boyd you big spaz
Ahhh, okay.
MACD - Moving Average Convergence Divergence. It's an indicator which helps guide you with momentum and defining price direction.
RR - Rolls Royce. They build cars and stuff.
"Convergence Divergence". For fuck sake
They don't build cars. You can have that one, but further research is going to cost.
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