hi sam
I have been earning a living from sports and financial spread betting
for past two years but this is my first foray into trading actual futures contracts, so i didnt know about overnight requirements
big deal im sure there are more things i will get to know.
the bottom line is i make money spread betting
and ill do the same in trading.
colin
"i didnt know about overnight requirements. big deal im sure there are more things i will get to know."
That’s right… big deal. Who cares if your subscribers got screwed in the process - at least you’re making money in spread betting. Way to go, champ.
Even if you didn’t have subscribers, you shouldn’t have gone public with it in this stage. Events like this scare the hell out of subscribers, even if they are not subscribed to your system. We are not playing Monopoly.
>hi sam
I have been earning a living from sports and financial spread betting …
Maybe you should sell that advice? But if that’s true why bother
with this?
> the bottom line is i make money spread betting
and ill do the same in trading.
Wanna bet?
"Im pretty sure all potential subscribers are intelligent enough to decide if any system fits their personnal risk levels. "
No, they are not. They are mostly fatted sheep with a fistful of money. There is a reason that it is believed that over 90% of futures traders lose out their first year. Because few of them know what they are doing, how to handle leverage, or find profitable systems, it is a tough road for them… Most futures trading “professionals” they find are either scam artists, deluded into thinking their stuff works, or are on a lucky streak.
"im hearing lots of views about how poor im doing and how much money im going to lose but havent had any opinions about making money trading. any ideas?"
If you start trolling for the profitable ideas of others, you will likely go down more quickly than the one who flew too close to the Sun. If they are there for the plucking, they rarely work. Most profitable traders got there through nerve, sweated labor, study, loss of a lot of their own funds, years of hard work and experience, cross-pollinating with others, studying under the more experienced, & many other ways.
I said somewhere above, that you seem to be years away from this level. You have immense quantities of naive-ness. But to your credit, so was everyone else who wandered into this domain. I don’t think you realize how much you sound like many others who wandered in here…
Learn; don’t proclaim your predestined profitability or expect others to hand you the keys to the kingdom.
hi jules
i have extensively studied the systems on c2 and 90% of
them are worthless as serious trading systems and yet you
believe my system is frightening people?
trading markets is a game a very serious game and one i am full time devoted to but it is a game all the same.
colin
hi sam
the problem with spread betting are the limitations on what you can
do for instance the spreads offered are very large in comparison
there are only certain markets offered for betting and limits on
how much you can bet.
also you cant average in and out of bets or add to winners.
i believe the skills i have learnt are transferable to futures trading
which offers far more profit potential then spread betting.
colin
> i have extensively studied the systems on c2 …
But you were too lazy to Google QN margins before
trading them… You may wish to actually study
the markets.
>believe my system is frightening people?
No, your attitude is scary.
>trading markets is a game a very serious game and one i am full time devoted to but it is a game all the same.
Talk is cheap. Your actions speak of a cavalier attitude. Before even
checking the most basic issues (money management, margin
requirements) you are out there touting and selling your system.
>i believe the skills i have learnt are transferable to futures trading
which offers far more profit potential then spread betting…
So, before actually trading you are going to sell trading advice? What I’m
reading is you have never even paper traded, right? C2 is your first
and only “account”, correct?
Creating a margin call is close to the worst what can happen. And this is very different from a system that gradually loses, because then at least subscribers have a chance to limit their losses. If you are only one of many who get a margin call, that is even more frightening, and it doesn’t relieve you of your responsibility.
Let me explain why I think that. I believe that others can indirectly suffer from events like this because if a skilled vendor has a draw down, which is almost unavoidable, subscribers will be inclined to think that they might have just another system that is going to create a margin call. This is sound reasoning given the high a priori probability of it. So they will bail out in the middle of a draw down - thus creating their own loss. But perhaps this is too far-fetched. I agree that this is not only your responsibility, but it is also your responsibility.
I must give you the credit that at least you were open about it and made the margin call public yourself. On the other hand, what you said about “learning” sounds to me like a driving instructor who creates an accident and then says “hey, I’m only practicing, I’m sure that I will have my license in three months”.
"Creating a margin call is close to the worst what can happen. And this is very different from a system that gradually loses, because then at least subscribers have a chance to limit their losses. If you are only one of many who get a margin call, that is even more frightening, and it doesn’t relieve you of your responsibility. "
I agree. It’s not the lack of realization that scares me, it is in not seeing anything wrong with trying to hold 48 Natural Gas contracts on $70,000 available margin, using one of the most volatile and unpredictable of the commodities. It is like a 6 year old playing with a loaded gun.
We’re not talking just margin call here. It is the sudden potential loss of hundreds of thousands of dollars on this sickening overleverage when a market disruption occurs, that scares me.
I am seeing someone who will inflict major damage on others, with the mistaken belief he is just a few months from prosperity.
no offence but there are a couple of thousand so called experts selling their systems here and losing money hand over fist.
i apologise if i come across as a cavalier gambler as this is not the
case .
my trading is based on proven strategies i have used and profited
from in other arenas based on calculated odds and probabilities
i see no reason why these strategies will not work in the futures
markets .
the reason i am offering my system for sale is because i feel i am
ready to do so.
you are right talk is cheap from now on ill let my trading do the talking.
i appreciate the feedback as negative as it may be.
colin
you may not know this but there are many thousands of financial
consultants/ advisor , newsletters, economists, investment banks
and experts selling advice on financial trading and the vast majority have never made a trade in their lives or have traded and lost millions.
i at least am willing to put myself in the firing line and prove myself .
i have traded forex and indices and have several accounts but
i only started trading the futures market four months ago
and my c2 account is the only one solely focused on futures.
the reason for this is i believe to be consistantly profitable in this market requires substantial starting capital.
c2 is a great way to build up an independant verifiable trading record
i also feel i have the right to sell my system as much as antone else here.
hi ross
regarding my "any ideas" comment i was being sarcastic.
i would never contemplate making trades based on anyone elses ideas other then my own .
and i dont expect anyone to hand me anything.
colin
>no offence but there are a couple of thousand so called experts selling their systems here and losing money hand over fist.
Welcome aboard!
> my trading is based on proven strategies i have used and profited
from in other arenas based on calculated odds and probabilities
i see no reason why these strategies will not work in the futures
markets …
So, once again, you’ve “proved” this somewhere other than trading futures.
>the reason i am offering my system for sale is because i feel i am
ready to do so.
But you were too lazy to Google QN margins before doing so…
not the kind of work ethic that inspires me to subscribe.
> started trading the futures market four months ago …
And you don’t know that there are overnight margins? Who is
your broker?
Colin,
Just ignore them and then concentrate on developing a winning system. This is just bait, so you’re not doing yourself any favours responding to it.
Take it from Max. Go for broke and if it doesn’t work
out add “Test” or “Testing” to your system’s name:
“Max Brown
(Last login to C2: 12/2/06 16:33)
The name of this system has been changed 2 times:
Original name Changed to When changed
FT100 Holy Grail Holy Grail 9/23/06 12:23
Holy Grail Dedicated to API testing 11/25/06 7:55”
"Just ignore them and then concentrate on developing a winning system. This is just bait, so you’re not doing yourself any favours responding to it."
That is pitiful advice.
I actually admire Colin’s willingness to respond to criticism. If people are willing to hammer his weaknesses and he is willing to learn and push back, he will probably come out ahead.
On the flip side, is potential subs who can lose real money. Most of what I have seen on this thread, has been aggressive criticism of some glaring holes in the understanding and practice of futures trading, with the intent to encourage others to subscribe to the system.
People who ignore and plow ahead tend to learn nothing and produce nothing. You need a thick skin to survive.
