Author Topic: Something for the weekend  (Read 1048 times)

Pipstar

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Re: Something for the weekend
« Reply #45 on: August 06, 2020, 02:02:56 PM »
Can I ask you a question @thescruff
I understand that you scale out of trades but Im sure Ive read or heard about scaling in. Is that a 'thing' or am I imagining it? It just seems counter-intuitive to me since, as price is already moving in the direction you want, each new entry would have less chance of success than past entries at earlier levels. Does that make sense?

thescruff

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Re: Something for the weekend
« Reply #46 on: August 06, 2020, 02:22:39 PM »
Over the years I have tested many different ways and for me scaling out makes perfect sense be it scaling with profit but I also scale out of loss , nobody knows how far a market will go so taking bits off as it moves means you are paid and reducing risk all the time. Yes if you hold to full target you may earn more but the chances of this are low so at the end of the week the scales out give better returns every time for me.

There is a theory for longer term trades of scaling in to positions as the trend emerges , ie every pullback if stays above  200MA add a little more , building a position. Great for investment but not sure how good on interday trading   
« Last Edit: August 06, 2020, 06:49:16 PM by thescruff »
The Scruffy Trader

Pipstar

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Re: Something for the weekend
« Reply #47 on: September 07, 2020, 04:07:07 PM »
Thank you Gary. You've explained it really well here and on YouTube and I get it now. I like the idea of leaving a small portion on after you've cashed most of the trade, just in case it goes mental overnight.  :)

Magyar

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Re: Something for the weekend
« Reply #48 on: September 08, 2020, 02:29:42 PM »
Even with my tiny $10 account I can scale. Maybe make 5c, then 10c on a trade. Not very much money but it all add up

PipMeHappy

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Re: Something for the weekend
« Reply #49 on: September 29, 2020, 07:44:11 PM »
Over the years I have tested many different ways and for me scaling out makes perfect sense be it scaling with profit but I also scale out of loss , nobody knows how far a market will go so taking bits off as it moves means you are paid and reducing risk all the time. Yes if you hold to full target you may earn more but the chances of this are low so at the end of the week the scales out give better returns every time for me.

There is a theory for longer term trades of scaling in to positions as the trend emerges , ie every pullback if stays above  200MA add a little more , building a position. Great for investment but not sure how good on interday trading

I agree with the last paragraph 100 percent...

eddieb

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Re: Something for the weekend
« Reply #50 on: October 02, 2020, 04:31:42 PM »
@thescruff  Ive enjoyed your 500 account series this week, would have been useful for a few of our guys & gals on here.
Did you continue trading it today, or did you close after Thursdays trades?
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

thescruff

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Re: Something for the weekend
« Reply #51 on: October 02, 2020, 05:14:21 PM »
Just finishing the last days vid , should be ready in a couple of hours
The Scruffy Trader

eddieb

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Re: Something for the weekend
« Reply #52 on: October 14, 2020, 08:12:09 AM »
Hi @thescruff
I know you're into Star Wars,  not so sure about Star Trek, but I  saw this on Amazon Prime Day sale and thought about you. Have you ever had one if the Haynes Workshop Manuals, I had them for the first couple of cars I owned.
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

Kim

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Re: Something for the weekend
« Reply #53 on: October 15, 2020, 05:38:03 PM »
I saw in one of @thescruff videos that you use a spread betting account.
How does that differ from a fx account? Is it just the tax difference or are there other differences?
Sorry if seems a dumb question but I can't see why everybody wouldn't use spread betting

PipMeHappy

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Re: Something for the weekend
« Reply #54 on: October 15, 2020, 07:41:57 PM »
I saw in one of @thescruff videos that you use a spread betting account.
How does that differ from a fx account? Is it just the tax difference or are there other differences?
Sorry if seems a dumb question but I can't see why everybody wouldn't use spread betting

@Kim there is no real difference except that the UK government classes spread-betting as gambling therefore under the same token you are both untaxed on capital gains and not compensated in the case of losses exceeding initial investment: for example, in the case of the broker going bust due to a flash crash (like Alpari did with the Swiss currency crash recently), you would get nothing from the financial compensation scheme.

However, if you made your spread-betting activity full-time and/or main source of income, HMRC would certainly like to take some tax off you, so the tax-free element would not apply in those cases.

I hope this helps.