• Dear Guest, Please note that adult content is not permitted on this forum. We have had our Google ads disabled at times due to some posts that were found from some time ago. Please do not post adult content and if you see any already on the forum, please report the post so that we can deal with it. Adult content is allowed in the glory hole - you will have to request permission to access it. Thanks, scara

Cryptocurrency

LutonSpurs said:
All these brick coins are just gambling on a horse. You need to really understand the tech and invest based on that. Otherwise you get lucky in my view. Bit and ETH are the main stays. And then a number of them competing for one slot. Dot. Sol. Ksm. Link matters I guess and will probably be around to stay.

The rest you get in and out and then worry about capital gains tax. It's an odd market.
Click to expand...

Not if you are on a platform that allows spread betting ... all tax free my friend
 
Gazza said:
Lol google FTMO or Myforexfunds ... they essentially see if you can pass their tests, once passed they will fund you with north of £500K depending on what you opt for. Once you have that kind of money to trade with and leverage you should be clearing 10K a week with ease.

A prop fund essentially props you up and absorbs the losses up to the amount allocated to your account ... and lets you keep from 80% to 90% of your winning trades ... yes thats right playing with other peoples money!
Click to expand...
Sounds legit, I can't see any downside to borrowing half a million pounds of other people's money and losing it. Should be fine. Thanks for the great tip.
 
Bullet said:
Sounds legit, I can't see any downside to borrowing half a million pounds of other people's money and losing it. Should be fine. Thanks for the great tip.
Click to expand...

Lol you fool! It doesn't work like that. Honestly mate you are not allowed to blow half a mil, you can only blow a certain percentage before they close your account, but you have to pass their tests first to prove that you can trade the markets and not just a cowboy.
 
Gazza said:
Yeah IC markets have a spread bet account, with some low spreads and coz you are not buying CFDs there is not any tax on any capital gains.

Check out FTMO on YouTube or online mate, they use IC Markets as a broker. Pass the challenge and you will be quids in.
Click to expand...

Fat bird at work does this. Reckons she is clearing a few grand a week. Drives an 8 year old fiat punto. Asked me if I want to sign up through an affiliate scheme.
 
Hashegotthesackyet? said:
Huge weekly support at $53K, but every man and his dog has bids set there so I don’t think it will get there. A lot depends on the apes who are leveraged to fk using perps on some of the more dodgy exchanges.
Click to expand...

I think when the giraffe crosses the double bottom the Eagle will swoop in which is when I will hedgehog it to the top of the candlestick.
 
Danishfurniturelover said:
Fat bird at work does this. Reckons she is clearing a few grand a week. Drives an 8 year old fiat punto. Asked me if I want to sign up through an affiliate scheme.
Click to expand...

There is My Forex Funds or FTMO no harm in checking them out. FTMO however use IC markets and their spreads are excellent.

As long as you are trading with some sort of knowledge or know how the markets move with supports and resistance levels and key price action, put your stops in and take profits you should be ok.

Dont bother with an affiliate scheme, they just skim your profits for doing nothing.

Best thing about it is that you are not using your own money should you pass their tests ... which allows you to trade bigger accounts than you may possibly afford.
 
Gazza said:
There is My Forex Funds or FTMO no harm in checking them out. FTMO however use IC markets and their spreads are excellent.

As long as you are trading with some sort of knowledge or know how the markets move with supports and resistance levels and key price action, put your stops in and take profits you should be ok.

Dont bother with an affiliate scheme, they just skim your profits for doing nothing.

Best thing about it is that you are not using your own money should you pass their tests ... which allows you to trade bigger accounts than you may possibly afford.
Click to expand...

Yeah was aware that the affiliate thing was a scam. It has peaked my interest though. I can't watch normal TV so apart from football and I average 8 games a week of that on TV I have a lot of spare time. Think as much of anything it would be fun to learn a new skill.

This girl at work went quiet when I said she could run a smurf account through me and split the profits 50/50. I did that match betting 10 years ago at the pub I used to drink in back in Chichester. Was a good side hustle, get a few mates you trust and run the same trades through them.
 
Danishfurniturelover said:
Yeah was aware that the affiliate thing was a scam. It has peaked my interest though. I can't watch normal TV so apart from football and I average 8 games a week of that on TV I have a lot of spare time. Think as much of anything it would be fun to learn a new skill.

This girl at work went quiet when I said she could run a smurf account through me and split the profits 50/50. I did that match betting 10 years ago at the pub I used to drink in back in Chichester. Was a good side hustle, get a few mates you trust and run the same trades through them.
Click to expand...

There are a few good apps for android that give out market analysis and indicators Liteforex analysis is pretty good and usually accurate.

I would try a free demo account first get your feet under the table, everyone has their own style of trading, watch some videos on youtube and away you go.

All i will suggest is keep your losses small and let your winners run. Stick to forex initially as its more "predictable" and the spreads are lower, then work yourself up to Gold/oil/indicies and then crypto. I would also avoid trading on a monday as the markets can be indecisive or at least wait until the NYSE opens.

If you have capital that you can afford to lose you can also try Naga trader or Etoro which allow you to copy trade some successful traders. But with a prop account you dont need to use any of your money apart from the sign up fee for the challenge.
 
Last edited:
Danishfurniturelover said:
Yeah was aware that the affiliate thing was a scam. It has peaked my interest though. I can't watch normal TV so apart from football and I average 8 games a week of that on TV I have a lot of spare time. Think as much of anything it would be fun to learn a new skill.

This girl at work went quiet when I said she could run a smurf account through me and split the profits 50/50. I did that match betting 10 years ago at the pub I used to drink in back in Chichester. Was a good side hustle, get a few mates you trust and run the same trades through them.
Click to expand...
FTMO is legit. You choose the size of your account and they set a profit target and a daily loss and maximum loss which if you exceed you fail the challenge. Eg with a 70,000 account you need to make 7,000 profit (but you have to do a minimum 10 days of trades so to prove you don’t just get lucky with one or two trades) and you can’t lose more than 3,500 in one day (5% of account) and can’t lose more than 7,000 overall (10%). If you pass this challenge then you have to do the same again in the verification stage but only need to make 3,500(5%) in minimum of 10 trading days. Pass that and you become an FTMO trader and will keep 70% of profits.

It’s such a clever model they do in order to profit aswell. Basically if you want to take part in their challenge it will cost anywhere from a couple of hundred to a thousand or so dependant on the size of the account you want to manage. So already they have all this money come in. Then FTMO know that 90% or so of retail traders fail. Therefore they have a bot so that whatever trades people doing the challenge execute, FTMO will execute the opposite trade in the market and will make massive profits that way. Then of course, that 10% of traders that are genuinely good they get to keep 30% of their profits plus can also copy their trades in the market. Nice…..
 
You must log in or register to reply here.
Back