18 year old - Equities trader - AMA

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SchmuckOff
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18 year old with a keen interest in the equities market

AMA
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mnot
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(Original post by SchmuckOff)
18 year old with a keen interest in the equities market

AMA
When you say your a trader, as in a retail trader?
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SchmuckOff
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(Original post by mnot)
When you say your a trader, as in a retail trader?
Affirmative , I don't qualify for professional trader status
Just yet.

Been retail trading for the past 15 months
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mnot
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(Original post by SchmuckOff)
Affirmative , I don't qualify for professional trader status
Just yet.

Been retail trading for the past 15 months
If your 18, you shouldn't have a 15 month track record...

All the stats say over a long enough time horizon retail taders lose money, if you are 18 I would suggest you invest & educate rather then trade. If you want to trade professionally go to uni work bloody hard, get internships and try and get a job on the desk of an industry as a professional trader.
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SchmuckOff
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(Original post by mnot)
If your 18, you shouldn't have a 15 month track record...

All the stats say over a long enough time horizon retail taders lose money, if you are 18 I would suggest you invest & educate rather then trade. If you want to trade professionally go to uni work bloody hard, get internships and try and get a job on the desk of an industry trader.
I've been taken under the wing by a family member.
He is a 7 year old veteran in spread betting

I originally traded in my mothers name (IG spreadbetting) - So it didn't mess with her taxes
I've also coded my own proprietary strategy with a winning success rate ( tested on a demo account and historical data) , I also invest in any gains into my ISA that I opened this year.
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mnot
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(Original post by SchmuckOff)
I've been taken under the wing by a family member.
He is a 7 year old veteran in spread betting

I originally traded in my mothers name (IG spreadbetting) - So it didn't mess with her taxes
I've also coded my own proprietary strategy with a winning success rate ( tested on a demo account and historical data) , I also invest in any gains into my ISA that I opened this year.
hmm
Im not going to encourage any 18yo to trade. The realities of understanding the complexities of volatility and developing a balanced long-short portfolio capable of alpha when things are going well & covering bad spots in other positions is hard, very hard (especially for individuals).

Im not going to say fair play, as I think its high risk and I dont want any young adults to lose money. I would invest. The reality is if you put your money in a LISA you would make 25% up to invested £4,000/year with 0 risk.

If you have a passion for the markets try and get a job in it, you will work with people who have traded the big situations over 20 years & these institutions have developed strategies that mitigate risk and run big when all goes to plan.

With all do respect, Im sceptical your proprietary algorithm can stack up. The realities are any program you built cant compete with the market info. Professionals have teams of maths, compsci, & finance grads from every Oxbridge, Ivy & HYPSM uni and have spent decades developing their infrastructure.
--
Just curious tho what platform did you build this program on?
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SchmuckOff
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(Original post by mnot)
hmm
Im not going to encourage any 18yo to trade. The realities of understanding the complexities of volatility and developing a balanced long-short portfolio capable of alpha when things are going well & covering bad spots in other positions is hard, very hard (especially for individuals).

Im not going to say fair play, as I think its high risk and I dont want any young adults to lose money. I would invest. The reality is if you put your money in a LISA you would make 25% up to invested £4,000/year with 0 risk.

If you have a passion for the markets try and get a job in it, you will work with people who have traded the big situations over 20 years & these institutions have developed strategies that mitigate risk and run big when all goes to plan.

With all do respect, Im sceptical your proprietary algorithm can stack up. The realities are any program you built cant compete with the market info. Professionals have teams of maths, compsci, & finance grads from every Oxbridge, Ivy & HYPSM uni and have spent decades developing their infrastructure.
--
Just curious tho what platform did you build this program on?
I've coded it using pinescript (Tradingview) as well as metacode for MT4
The algorithm is just a piece of the puzzle for me , It's used to supplement other trading strategies such as the use of volume profile combined with simple support and resistance and price action. Combining all these factors helps give me a higher win rate %

My uncle suggested demo trading for about 4-5 months with a strategy you have developed
Did that and went real 6 months ago.

Doing quite well , just haven't scaled up because of emotions .
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SchmuckOff
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(Original post by mnot)
If your 18, you shouldn't have a 15 month track record...

All the stats say over a long enough time horizon retail taders lose money, if you are 18 I would suggest you invest & educate rather then trade. If you want to trade professionally go to uni work bloody hard, get internships and try and get a job on the desk of an industry as a professional trader.
The stat that 75%-90% of retail traders lose money is correct . I understand it .
One of the reasons I asked for the help of a successful individual to teach me the more important skills such as risk management and position sizing which most retail newbies never learn .
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Kerzen
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Are you taking your A Levels at the same time?
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SchmuckOff
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(Original post by Kerzen)
Are you taking your A Levels at the same time?
Yep
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Thisismyunitsr
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How do I make big moneys in the stonk market m8. I wanna make some big stonks
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Thisismyunitsr
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Are you a moderator on /r/wallstreetbets?
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SchmuckOff
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(Original post by Thisismyunitsr)
Are you a moderator on /r/wallstreetbets?
lmao
I'm not a robinhood all in calls guy
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Kerzen
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What are your plans for after your A Levels?
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Medkid100
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What resources would you recommend to someone interested in trading? How did you build your capital to start trading? Thanks
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SchmuckOff
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(Original post by Kerzen)
What are your plans for after your A Levels?
I've applied to finance degree apprenticeships as well as to Cambridge , LSE , UCL and Warwick for economics
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SchmuckOff
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(Original post by Medkid100)
What resources would you recommend to someone interested in trading? How did you build your capital to start trading? Thanks
The majority of the information you will find on YouTube is useless. I recommend reading professional traders past journals and try and find an experience hand in the markets . Don't pay for anything as more likely than not it's a scam.

I built my capital initially by trading weapons in CSGO and rune scape lol
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mnot
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(Original post by SchmuckOff)
The majority of the information you will find on YouTube is useless. I recommend reading professional traders past journals and try and find an experience hand in the markets . Don't pay for anything as more likely than not it's a scam.

I built my capital initially by trading weapons in CSGO and rune scape lol
If you wish to be a trader, why is your avatar Warren Buffett?

He is a notorious investor who doesnt trade. He advises against it all together.
Last edited by mnot; 10 months ago
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SchmuckOff
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(Original post by mnot)
If you wish to be a trader, why is your avatar Warren Buffett?

He is a notorious investor who doesnt trade. He advises against it all together.
I could change it to Navindar Sarao but Buffet is a better known face . He may not be a trader but is a model for financial freedom.
Not many traders are well known as compared to investors
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mnot
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(Original post by SchmuckOff)
I could change it to Navindar Sarao but Buffet is a better known face . He may not be a trader but is a model for financial freedom.
Not many traders are well known as compared to investors
But dont you think its ironic?
A financier who actively talks against trading, whose strategy is the opposite...
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