Trading CFD for a Living – Fiction or Fact? – XTrade
CFD Trading For A Living « Traders Corner
Can you earn a living from CFD trading? – CFD TRADING
Trading Cfd For A Living 🥇 Hier online CFD, Forex, Crypo
The comedy how I lost all my money in two hours
I'm trading for 11 months with pretty good success. I never traded metals and forex before, just stocks. Today when gold started to consolidate at the last hour, I decided to scalp short it with a large amount, so I opened 100 lots. I haven't realised, in forex 100 (lots) doesn't mean "100 pcs", because I used to stocks and I went full retard without knowledge. Seconds later, I realised it means 10 million dollars (1 lot = 100.000, and I had 500x leverage). It moved up a bit and immediately I was down £4000. I scared as fuck and rather than closing the position quickly I hoped maybe I could close break even. The market closed, and I waited for the Asian session. The gold popped like never before, and I lost all my life savings (£55000) in less than two hours. (including the 1-hour break between sessions). If I count that I lost all my earnings as well, I lost around £85000. Here is the margin call https://imgur.com/a/XY5m4ZA https://imgur.com/a/VSgmCSs https://imgur.com/pRWl5g9 IC Markets closed my position partially in every 1-2 minutes until I shut it myself at £35. You know the rest of the story. I'm depressed, crying and shouting with myself. Yes, I know I was stupid, thanks. I just wanted to share this with you. Edit: WOW THANK YOU, GUYS! I haven't expected this, but you help me. Many of you asked the same questions, I answer it here: - I live in Europe, and we usually trade CFD's, not futures. - Currency in GBP. - As you can see, this account made on IC Markets. They not just allowing you a 500x leverage, it's the default. - You can ask me why I went against the market. Because gold is way oversold? Because I expected institutions would sell their shares before gold is hitting £2000, leaving retails hanging there. Also, as I said, I wanted to scalp, not riding the gold all the way down. If I had a loss of £100, I would close the position immediately. But when I saw the £4000, my heart is stopped, and my brain just freezes. - I went for a revenge trade with my last £2k, and I don't have to say what happened. I uninstalled the app, and I give up trading for a while. - Again, in the past months, I was cautious, I lost a significant sum in March, but I managed to recover. Made consistent gains, always with SL. This is just an example of how easy is to fuck up everything you did. - I didn't come here for some shiny digital medals. I can't tell about my losses to anyone who I know in real life. I would make a fool of myself. - Anyone who attacking me that it is a scam. Well, think what you want. I feel terrible and the last thing is to answer all the messages saying "You fucking karma whore". I don't give a shit about karma.
Hi guys, just wanted to ask a noob question here as I can't seem to find the answer anywhere else. I opened myself up a trading 212 account, the only options I see are either invest or cfd, I can't seem to locate ISA? I am currently travelling abroad and have been for 3 years and temporarily living in Nepal, not sure if this plays a part? Just wanted some clarity :) Thanks.
First day trading on CFD with real money - How my day went
Hey guys, So I wanted to share my experience on CFD since it was something that was kinda scary to me. I finally put in 1000$ on my CFD account this morning. Before that I was training on demo mode and my strategy was working pretty well. MY STRATEGY: So I'm not familiar with leverage yet so I started asking myself what would be the way that I'm the most comfortable trading with leverage. I started looking for a stock that consistently grew since even a 1% a day rise could be good with leverage. That's when I realized that trading with an ETF could work. So I started looking at the S&P 500 and running the numbers. In the last year, on average, there is a a 2,47$ gap between the low and the close of SPY. So I though that if I could figure out the low each day, buy in and sell at the end of the day, I would consistently make money. After 1 week in the demo account, with a 10k practice amount, it worked 4/5 times giving me +300$. MY FIRST DAY: Today was Powell's speech. Basically he didn't say anything new. So the bull trend had no reason to stop today. 9h30: I monitor the opening of the S&P 500. It starts with a slight dip. Unusual since most the time, there is a buy-in at open. But since there wasn't a sell-off at the previous close, I'm thinking it's nothing too alarming. 10h: first dip. I'm hesitant. The last few days the first dip was followed by a deeper one around 11h. 11h: Still no dip. It even hits new highs. I'm starting to rethink my plan. Just the day before, the S&P 500 ran up all day with practically no dips. Then I notice a trend: the price seems to "hug" the EMA 20. I wait for the price to drop under the EMA 20 and decide to jump in with 14 shares. https://preview.redd.it/9qp5q476flj51.png?width=939&format=png&auto=webp&s=5e96a03713169869cf1a18badac5246e7af26102 Well that didn't go as planned. The price kept running down, further and further from the EMA. At that point I made a minor mistake by not jumping out when my plan didn't go as expected. I was lucky enough to hit a break-even price and jumped out of the trade at 0. Scary. I decide to take a little break to clear my mind and come back 30 minutes later. SECOND TRADE: At this point I realize the price is breaking a resistance that I had noticed earlier (the day's high). I think it's a good signal for a significant break out towards higher highs. https://preview.redd.it/6v6j5obxflj51.png?width=1312&format=png&auto=webp&s=8bef020f8689c862478e1bb2d50e0ef5e8e66cb8 Well I was wrong again. The price goes down, and down, and down. Luckily, I had taken a rather small position of 2 shares since I was kinda shook by my first unsuccessful trade. At this point I didn't really know what to do other than watch the price run down. I decide to buy positions on the way down. 2 shares each time during the downward trend (circled in black): https://preview.redd.it/lebrwuk2hlj51.png?width=1312&format=png&auto=webp&s=50dee1eca7c2fc543453daa2ff29722ee34c6caf The SPY keeps going down, and I nearly have no more money. My live result is -20$ and I'm starting to think that I will keep the positions open over night and that tomorrow I might get lucky. At this point I'm starting to get a better idea of the support and resistances of the day. I figure if the price goes bellow the day's low, then I would have to accept the loss and sell. But then 1pm come along and we finally get a nice bounce. I'm up +4$. I sell all my positions and call it a day. The day is not over yet when I'm writing this but I obviously could have sold later. In hindsight, if I had just followed my initial plan (buy at open, or at day's low, sell at close) I would have done much better (maybe 10$ profit?). https://preview.redd.it/6yqr1boijlj51.png?width=1280&format=png&auto=webp&s=a025e9d56fafdc16616bfc489fcd1fec34cadf70 WHAT I LEARNED: -However well you performed with fake money, I will be completely different with real money. -Any plan/strategy you had before hand will disappear once the market opens. -You will make many mistakes. You can't just watch YT videos on trading signals and apply them. No matter what the YT gurus tell you, It's not easy to day trade. -Spreads kill your profits. When I bough in, there was a 0.25$ difference with the actual price and when I sold it was 0.10$! Maybe the spread decreases with low volatility? I hope somebody will find some useful info here! I will answer questions if you have any. If people want to give me advice, be welcome! I'm a beginner!
Hey what's up gang, finally joined after a while spent lurking in the shadows. Am 31, live and work in London. More interestingly I spent the past decade working in the Equity Derivatives Sales (and briefly trading) team at Deutsche (for my sins). I trade CFD's and a few options on Interactive Brokers. My go to plays are buying S&P 500 upside vol, selling rips, and punting on single names in the tech space. Here for the bants with fellow degens.
Why Beginners Should Avoid Leverage and Where to Direct Their Attention
The temptation to trade on margin can be quite overwhelming for beginners. Especially if you've entered into the trading world through watching others making huge gains. There are better places to direct one's energy in the journey to profitability. The reason to avoid leverage is because, for small-cap investors, it's a near certain way to lose your capital and get completely frustrated with the trading experience. Put it this way, there are too many factors fighting against you in the market for you to be profitable as a beginner fresh off paper-trading--especially if you're only employing technical analysis as your strategy. [please note it is not impossible but it is incredibly rare] We should be asking ourselves why we want to expose beginners to significantly more risk whilst they only have the resources and knowledge of an elementary small-cap retail investor. We should be encouraging another journey that will teach all the lessons of live trading whilst reducing their risk. We wouldn't encourage a friend to search for a home to buy or rent outside their means, nor would we search for a vehicle that we couldn't afford to run...so why should we trade shares that we can't afford to buy? "To make money!?", you may retort...but think about this, there is a way to trade within our means that will make us money and will reduce our risk exponentially. Is it unreasonable to say, that our positions in the market should reflect our knowledge, skill, risk tolerance, and experience? The best place for beginners to direct their energy is in share trading. The principles of Day Trading can still be applied through Share Trading. You can still develop your DT edge and strategy, you can still set market entry and exit points, you can still trade live. The primary difference being significantly reduced risk. If you treat it as if it was a CFD account you will increase the longevity of your trading journey--potentially all way to your trading goals. This method will aid in building solid risk management, self-control, and strategy implementation. I am more than happy to explain in greater detail how these set ups would work and operate. I want to see more beginners succeed in the trading world...the ratio of losing traders is far too high and the advice is often too complex.
Hey everyone, I've been interested in trading and have been reading/watching videos for a while now but am still left with a couple of questions: - The country I live in charges 0.35% tax on every stock you buy AND sell. For instance: you buy 5 stocks at 20 USD each for a total of 100 USD then you pay 0.35 USD of tax on this transaction. Same thing if you sell. This means I would need to make at least 0.70% profit (not including other fees) to make a profit. Would it still be interesting to go into swing/day-trading knowing that the profits will be lower? A good thing to know is that options (and also futures and CFD's) are not subjected to this taxation, so I was thinking that this might be a better option ;) for me. -This brings me to my second question: Are there any courses that I can follow that will give me the greatest chance in succeeding in the long run? There seem to be a lot of courses online but I find it difficult to find one with good reviews where I know my money will be well invested. Thanks for the time and feedback!
CFD providers are reporting a significant increase in new clients because of Covid-19. Whilst most seasoned traders understand the difference between DMA (Direct Market Access) and Market Maker pricing, I'm sure many have opened accounts with the likes of CMC Markets, City Index and IG Markets without reading the PDS (Product Disclosure Statement). A CFD or Contract for Difference is an agreement between you and your provider to exchange the difference in price of an asset between when the contract is opened and when it is closed. The CFD product is simple to understand and offers considerable amounts of leverage enabling traders to take out positions much larger than if you purchased the underlying product. Now in the beginning, CFD providers charged a fee for opening and closing a position in exactly the same way a broker would charge in order to buy and sell ordinary equities. If you wanted access to live prices, you needed to pay an exchange fee. As CFDs became more popular, CFD providers began innovating the product in order to generate profit. The providers decided to enter into agreements with real banks and financial institutions in order to hedge their exposure and make more money by taking the opposite position to what was being traded. This still wasn't enough for CFD providers who again changed the product by charging a spread (the difference between the buy price and sell price). The major banks / financial institutions who partnered with the CFD provider in order to hedge were not charged a spread. This, again, was still not enough for many providers. CFD providers began the unthinkable and decided to charge their own price for the underlying instrument! This meant that it was now possible for providers to not only take the opposite sides of the buy / sell price using liquidity partners, but also adjust the price of the CFD to any amount they want. It was now possible to increase the price of a CFD trade to a level high / low enough to hit your stop losses before adjusting it back to whatever the market price was. I would consider the above to constitute fraud if it wasn't so clearly described in their Product Disclosure Statement (PDS), a document that obviously many people do not read. DMA CFDs DMA (Direct Market Access) CFD providers offer a much, much better product. Upon placing an order, the provider typically places the same order into the underlying market. The prices quoted are the same as the underlying and you can even see your trade in the order book. Most DMA CFD providers charge:
Exchange Data Fee
A fee to buy / sell
In my opinion, I would much rather pay the fees quoted if it meant I was actually trading the financial markets instead of a price that can be changed in order to close out my positions at a loss whenever the computers at CMC feel like it. DMA CFD Providers Some DMA CFD providers include: FP Markets Pepperstone IG (DMA)
Analyzing the YouTube cooking video scene and stars
After watching Folding ideas video on , Cooking on the Internet for fun and profit, I felt inspired to have to discuss what is the current landscape of online cooking shows. This is a sort of exploration of how things are, what it means for restaurants, cooks or even cooking in general and how it will shape the industry in general afterwards. In ways this is sort of a review and comparison of the various YouTube personalities and what does it mean to be a YouTube star. Following the 3 pillars that Folding Ideas had laid out, Personality, Information and Spectacle, I will rating the personalities/channels based on a 6 point allocation system Like a skill pool and application of their points therein, the max could be 6 in one category at the detriment of the other skill sets. Binging with Babish Personality: 2 Information: 1 Spectacle: 3 If there was a leader for cooking shows now, it is Babish. His appearance on reddit tapping into the internet nostalgic nerdom has gave him popularity and the ability to bank on it. What I find interesting from the rating is that his spectacle isn’t that he’s is incredibly flamboyant or crazy with what he is doing, it’s just that his non face, one camera and hands only production is his spectacle. That is is his trademark and recognition. Why not the idea of how he recreates pop culture meals and then make a “gourmet” version of it? It would be more recognized but it is shown that with his Basics with Babish spin off series with equal fame means that his spectacle is not limited to only that purpose. As much as I would like to say he is the benchmark of which cooking shows should be judged now, I feel an all around person is actually impossible to become popular because balance does not inspire people, it is the stacking of it one aspect that changes it. Adam Ragusea Personality: 2 Information: 2 Spectacle: 2 Adam imho is as equal footing as you can have with as a YouTube star. His own video discussing the aspect YouTube cooking is interesting in the fact that his production is exactly what his most famous video is all about. It’s about stirring the pot and going against tradition in for the sake of doing so. I’ll make it plain, I sort of don’t like him for specific reasons unknown. As as chef I do see the slight arrogance in some of his instruction which is typical of chefs of renown and often celebrated. He has the knowledge and even the connections but I think because due to the allocation of his points evenly, no aspect supports his arrogance which would require a 3 or 4 to make up for those shortcomings. Plainly said, if he is that arrogant, it needs for him to have point allocation into more skill column to justify it. Because it is so even, his jack of all trades make’s him less of an expert and more of a columnist. But I do respect that. Because in the long run, because of that one video that had netted him the most views, it allows him to basically be free to do anything. From information about sourdough research, to social commentary about media consumption of Mario Batali, to just a regular emphasis on one show, to ingredient/technique analysis, he’s basically someone who is the complete product of cooking shows of the 90’s food show boom. He is what Good eats is but the acts of act 1 Information, Act 2 preparation, and Act 3 execution, focuses on either just 1, 2 or 3 but sometimes never all of them at the same time. Toss in a splash of the analytical mind of Bourdain (courtesy of his Journalism degree) and that is who he is. Chinese Cooking demystified Personality: 1 Information: 3 Spectacle: 2 And now we enter one of the niche shows. Catering to a specific cuisine, the information is the spectacle. The interesting thing is when I approached my rating system, I almost considered making it just a personality and information rating with the spectacle being the difference between the two learning towards whichever side. CFD clearly takes on the Babish way of hands only presentation with voiceover. And in comparison with Babish it touches upon an amazing thing, that the production values are the invisible thing that makes the show appealing. Quite often I imagine myself thinking about how these hosts are talking out loud during the film portion and then reframing the same scene in their voice over work, polishing words and ideas. Unlike one shot recording, it’s like a 2nd take on the food and being able to do that shows how much that polish appeals to our sense of media. What I find super interesting that is CFD clearly has less kitchen equipment that most other shows for good reason. Reflecting the space availability in Asia and just the different equipment and techniques used in Chinese cooking, there is an indirect extra amount of information being conveyed to the viewer. Was it not for the production value, this could have been mistaken to many home cooks channels showing off their techniques with bowls that they have readily at home, non industrial grade kitchen equipment and DIY set ups for shows. What I admire about this show is that this video on Mapo Tofu sums it’s completely, a deep delve into their mission statement, casting off the adaptations of Chinese dishes and creating authenticity and personality from the information. Joshua Weismann Personality: 2 Information: 2 Spectacle: 2 What is interesting is that he is one of the few chefs amongst the pantheon on YouTubers. A lot of the other ones are actually have a career in video production. Looking at his point allocation, you see that I am essentially putting him in the same category as Adam Ragusea, which isn’t a bad thing. In the second similarity comparison why this makes sense is because Joshua has many things in common. The awareness of media consumption of cooking shows (aka business transition video) how he opens his shot and closes it with the cupboard which hearkens to Good Eats, and his often shown B roll. This is a chef fully aware of what makes a good show, hitting all the tropes of it and one that the audience begrudgingly accepts because we know that is what we want. The recognition that he is a chef helps to credibility especially considering he has a handful of videos reflecting how to cook more efficiently and how to think like a chef and he has created niches within his own channel with Fermentation Fridays, his Making series where he makes an at home version of a fast food item. A similar vein of Babish and Gourmet Makes. Tapping into those niches it makes me wonder what is the fascination with recreating a food item that exists at home where the whole point of consuming the food item is to not have to make it in the first place. Everyone can make chicken sandwiches, everyone can have this product available at a fraction of the time and effort and yet the recreations engages audiences. It shows that the making series has the highest views of any other type of videos on his channel with often exceeding 1 million views (the Church’s chicken burger being the first pre pandemic topping out at 5.9 million). Which once again goes to Ragusea’s point about what you want to be known for won’t necessarily be what you will be known for. The pandemic certainly helped if only for people to be nostalgic for the items they cannot get to but can be recreated at home for comfort. But I don’t see Joshua as that. I recognize him first for his sourdough series but also for a mishmash of other things. Like the rating indicates, he’s a jack of all trades in the 3 pillars and the entry point for consuming his videos is vast enough to engage with people with concise videos that balance what the videos are like (notice buzzwords like Easiest, Ultimate, Guides and How Tos), acknowledgement of the media he is presenting these products (cupboard intro, production value and b rolls) and information. Comparing with him and Adam, who would I choose since they are so similar? Joshua of course because his cooking show is probably as closest to the spectrum end of old TV network cooking shows than of the Streaming. But consider this. Like I mentioned before Adam is representative of the culture of cooking audience consumption and the end product of it. Joshua is more the end product of cooking show production and represents what tropes are associated with said genre. My name is Andong Personality: 3 Information:2 Spectacle: 1 Weird comparison here with Andong and Joshua. Imagine this. Joshua has his branding as shown to focus on how to cook. It’s technique driven instructive. Andong has a branding that is about the food but his diversity for the food is all across the map. And that is the point. A Russian born filmmaker who studied in China and lives in Berlin, his channel is probably the most representative of the host than any other on this list. His personality is the spectacle and IMHO a lot of that has to do with being a filmmaker, his background but also literally his background. The set he uses is the evolution of what a kitchen set from a TV show looks like. It literally looks like a non-fuctional display of the show and as seen in one of his BTS videos, it is his living room. So being the first one where it is all personality what do I have to say? Andong is just oozing it. It’s crazy how comforting his personality and enthusiasm is that permeates through all his videos regardless of content. What do I mean by that? Doesn’t Joshua and Adam have that same enthusiasm? They do, but their enthusiasm is from informing the audience of a method that makes sense. The act of informing what makes it’s amazing. His culture series fantastic. However with Andong his enthusiasm for the food is literally for the food. Not how it’s made, not how but the amazingness that this thing even exists and he wants to share that love for that dish with you. With him I feel there is no effort needed to explain why this is great, it’s just there. It helps when has people over to test the items to eat, but if there was any YouTuber who is shares the joy of say Bourdain enjoying a meal, it would be Andong. The positivity is backed up with the food vernacular of foodies. THe draw is learning about the food he is cooking and not necessarily what the technique is hence heavy on the information culturally that the technique. Pro Home Cooks Personality: 1 Information: 3 Spectacle: 2 The low on the personality scale again. I have nothing against Mike Green but like a few on here, the focus is on the food. His sandwich series, goes hand in hand with his sourdough obsession. His focus is on education but in a different way than others. With the courses he offers on the side as well drive to actually make pro cooks at home, he reminds me a lot of Joshua in that but he seems to have a bit of an emphasis on guests to be the expert on whatever subject he was discussing. It is interesting how his channel managed to continue on without his brother probably because of the lack of personality. When you create a brand that isn’t dependent solely on the host(s), it can survive beyond it’s initial concept. But even in the title it offers what it’s intent is, to make you a pro cook at home. Wanting to inspire people beyond just entertaining them goes a long way and it shows in Mike’s “Mistakes” series which shows a side to cooking rarely seen “fixing/prevention” of cooking mishaps. Alex “French Cooking Guy” Personality: 3 Information: 3 Spectacle: 0 Ok I know what you are saying. Where the fuck is the spectacle. Well guess what, his personality is the spectacle. The information is part of the personality, which is also spectacle. Alex is the purest example of why I originally humoured a 2 metric system of just personality and information and what the different of emphasis is the spectacle. But the second you enter his video section, especially his most recent ones, it is obsession. His series are not a weekly thing or whatever was edited conveniently. They are back to back to back which emphasizes how he produces. And it works. His croissant series was 11 installments in a row (14 if you count the 3 tempering chocolate series beforehand) and other videos exhibit the same amount of dedication and format. But this isn’t to say just because he is French that is why his personality is so engaging from a Western audience who is more familiar with English speaking chefs. Andong has a personality that goes beyond just the charm of his accent (in fact it was a conscious choice for him to make it in English to reach more viewers). Alex has more in common with another personality that isn’t even a Chef and that is Adam Savage. His film production skills takes him to a next level away from cooking shows because look at his studio, it literally looks like a garage/lab. With his engineering videos and focusing on one aspect of an item for an entire video where others would just focus on maybe max 2 minutes, the spectacle is almost a pure 6 from personality and information by sheer amount of what he was bombarding you with it. He is the science teacher that makes you excited for a subject through empathy and his sheer enthusiasm. Bon Appetit Personality: 3 Information: 0 Spectacle: 3 This artcle explains a lot. Bon Appetit has the benefit of creating crossovers. The MCU/Network television of shows. In a weird way Mike Green of Pro Cooks at Home is similar to Bon Appetit by trying to sell a lifestyle in cooking. The “Perfect series” is much like the Avengers style mash up and their own running series plays on the strength of the people’s personalities. TBH Bon Appetit is one of the last places I’d go for informative instruction, but I would go purely for the entertainment. I’m not saying it’s empty of information, I just feel there are a lot more resources I would scour before defaulting to Bon Appetit. And that is what is awesome about this Channel it actually created a formula for success where a lot has failed even well funded non independent and cook focused driven channels. As emphasized in the article it is because of the strength of their personalities. Like Babish and Joshua, I feel that Bon Appetit is one of those channels that had a culture existing outside the show through it’s memes. With Claire inspiring the most of them and Brad’s “wodour” they have reach the hall of farmers like “Bam” EVOO and “That’s for another show…” slight effort they have created a meme machine that transcends their informative content and shine in the personality content. Fine Dining TV and Chef Epic Personality: 0 Information: 4 Spectacle: 2 Wow. All information no personality. This must be awesome right? Wrong. There is a reason that these two channels has averages of a few thousand views the lack of personality. Remember Pro Cooks at Home? This is the result of having zero personality to tether all the information together. A lot of people just don’t have personalities for the camera and that percentage does translate into the chef population as well. But remember that most of famous YouTube Chefs are filmmakers first. Even Alton Brown was a director for commercials before starting Good Eats. But isn’t the spectacle just the wealth of information you get in how the dish is created? Well of course...if you are part of that industry. Remember this is just my opinion but as my opinion as a chef, gleaning just a clue to what they used to make the dish allows me to reverse engineer how to make it. That is why I value the information at 4. But the spectacle is fucked. In a lot of these videos, the consideration of how to show the act of plating and cooking is cold and efficient, not the way a show plates for the audience. This is like seeing a magic act in the backroom in the Prestige. You see how the illusion of the food is made, but in doing so some of the magic of this plate appearing on your table is lost. At the end of the day it is just an item to the chef, for service for the business not selling you the culture, lifestyle, the promise of being able to make the food. The story is not there. Don’t get me wrong I love these two channels. I wish for them to have more views and more engagement. But without a host to fill in the gaps between why I am traveling to this restaurant or learning this technique, we lose our stand in for us in that video. The relationship between chef and audience is lost because we can’t eat it and we don’t have anyone to empathize and live through when it is eaten. John QuilteFood Busker Personality: 3 Information: 2 Spectacle: 1 And then you have someone like John Quilter. Ex chef, visiting places that are showing off said techniques and engaging with it through him. The video on the pork chop amazing, showing his engagement with it as well. Like Joshua has many videos on How Tos, Perfects and Tips For, I feel his evolution isn’t maintaining consistency but his evolution in general. From what I gather I see he lives for the work. He just works and the burn out came from it. It’s sad because there is nothing wrong with his content, but this is an example of how high barrier to entry for the online cooking show is. He had been doing this for years, even longer than Babish! But to what end do you keep on doing it to a lack of engagement? This seems to be the exact same effort that caused Folding Ideas to abandon his cooking show attempt, not for a lack of love but from the level of consistency required for the effort. Food Geek Personality: 2 Information: 4 Spectacle: 0 On the opposite side of the Chef Epic and Fine Dining TV, we have the Food Geek. Much like any other entry on this list devoid of spectacle, Sune’s spectacle comes from his personality and information. His sole emphasis on the methods for sourdough and his experiments make his contribution vital in a way that makes America’s Test Kitchen and Serious Eats so amazing. The ASMR-like voice is perfect for delivering the reaction and results of the experiment that reassures that he did this so you don’t have to. The information is the story which is so weird because where Chef Epic and Fine Dining TV are trying to show you a story, it’s just too short. It’s a collection of short films about kitchens not a cooking channel. Food Geek accomplishes something I feel is more needed in the cooking show genre as we all grow more in education about cooking. Urban Butchery Channel Personality: 1 Information: 3 Spectacle: 2 Butchery is that niche that only a handful of chefs will every touch. Once again the information is part of the spectacle and the knowledge of Franco is amazing. But as you can see the apparent “dryness” of the subject has given it few views. It goes to show that even specialization does not guarantee popularity even if the subject is totally focused on said speciality. Bon Appetit has it’s own butcher series that is equally as dry yet garners more views because of their massive media presence. But like Food Geek, this is exactly the informative channel I wish can inspired people to take the next step in their cooking education and journey. To bridge the gap between source and end product for the consumer. Conclusion Ultimately all these stars are contributing to the cooking landscape in some shape or form. These shows are repackaging the basics in how media changes with each decade and generation. Julia's was almost a supplement to her book after the success of her demonstration, Pepin a continuation on PBS, Emeril, Alton, Jamie, Rachel, Nigella the embrace of the Food Network channel, and Babish and Bon Appetit being the YouTube era. All of them were teaching the basics of what we all knew but almost adding ever so slightly upon the next generation entering adulthood or college. The education gets better with each generation but I feel it always has to develop the "personality" of the person through all the basics and before introducing something different such as curry, pad thai, and like Andong more euro centric dishes. Ultimately these chefs and content creators are challenging how we view cooking, how we should approach it and most importantly educating us. I hope in this post pandemic world, that these channels and as a whole can lead people seeing their relationship with food in a different way. To what is possible, what is considered delicious and ultimately what can bring us together as a community as food always has. If you have any other channel that is worth mention do discuss it of course. Always out there looking for more channels. I do have other channels to suggest but their impact sort of fits so closely to other entries on this list that it didn't seem worth mentioning.
Why Beginners Should Avoid Leverage and Where to Direct Their Attention
The temptation to trade on margin can be quite overwhelming for beginners. Especially if you've entered into the trading world through watching others making huge gains. There are better places to direct one's energy in the journey to profitability. The reason to avoid leverage is because, for small-cap investors, it's a near certain way to lose your capital and get completely frustrated with the trading experience. Put it this way, there are too many factors fighting against you in the market for you to be profitable as a beginner fresh off paper-trading--especially if you're only employing technical analysis as your strategy. [please note it is not impossible but it is incredibly rare] We should be asking ourselves why we want to expose beginners to significantly more risk whilst they only have the resources and knowledge of an elementary small-cap retail investor. We should be encouraging another journey that will teach all the lessons of live trading whilst reducing their risk. We wouldn't encourage a friend to search for a home to buy or rent outside their means, nor would we search for a vehicle that we couldn't afford to run...so why should we trade shares that we can't afford to buy? "To make money!?", you may retort...but think about this, there is a way to trade within our means that will make us money and will reduce our risk exponentially. Is it unreasonable to say that our positions in the market should reflect our knowledge, skill, risk tolerance, and experience? The best place for beginners to direct their energy is in share trading. The principles of Day Trading can still be applied through Share Trading. You can still develop your DT edge and strategy, you can still set market entry and exit points, you can still trade live. The primary difference being significantly reduced risk. If you treat it as if it was a CFD account you will increase the longevity of your trading journey--potentially all way to your trading goals. This method will aid in building solid risk management, self-control, and strategy implementation. I am more than happy to explain in greater detail how these set ups would work and operate. I want to see more beginners succeed in the trading world...the ratio of losing traders is far too high and the advice is often too complex.
I started gambling about ayear ago. At first it was small amounts but soon enough that changed. I gambled away my salary as soon as it huts the account. Rn i have no money and idk what to do for the next 2 weeks until my next payday. 0 money. I have to starve myself for 2 weeks, i see no other way out. Moreover i have an overdraft that i lost on cfd trading. It will take me about 2 years to cover it. I borrowed from friends lied to my gf, my family, my sister, my friends. Everyone. I feel lost. I never have money, i always lose what i save. This is no way to live. I need a way out.
How many times in a year do you think you get race day strategy 100% correct?
I would say we never get it 100% correct. Race day strategy isn't just about picking the correct number of stops and stop laps for both cars.
Did we take every last drop of grip out of the tyres before we pitted? Did we pressure cars ahead the right amount at every point? Did we back off and protect the tyres the right amount at every point? Did we communicate to the driver exactly what we were trying to achieve and therefore get 100% out of them at every instant in the race? Was the modelling accurate and useful? etc. etc.
We will always be searching for marginal/incremental improvements in everything we do.
I’m in high school and am planning on going to school to become a mechanical engineer, so my question is this: how available are engineering jobs in F1, or just motorsport in general? Of course, being an F1 engineer would be a dream, but I have no idea how difficult it would be to actually find a job
I have to be honest and say that jobs in motorsport and especially F1 are not plentiful and that they are often oversubscribed many times over.
I would not let that put you off though, at your age you have a lot of time to pick up skills, experiences and knowledge that will help you in the endeavor of getting a job in motorsport.
I would also say that perseverance is almost an essential quality in finding a job in F1. I, and many others I know, were turned down for roles multiple times and at various points thought we would never get our dream jobs in F1.
Hey, Randy! Thanks for doing this awesome AMA. You have talked a lot about getting into F1 for a career as an Engineer. I was hoping you could shed a bit of light in what skillsets/qualifications you look for in candidates who work as the mechanics and the pitstop crew on a given race weekend. Again, Thanks for doing this. I have read through every one of your answers and they were as much fun to read as they were enlightening about the sport we love.
So this is not my area of expertise, although I do spend a lot of time working with the pitcrew - so please take this with a pinch of salt but I think below are the main things we look for:
* Some prior experience in building and servicing of race cars or bikes.
* An ability to understand and follow (often complex) procedures.
* A proactive nature (e.g. when reporting faults or build issues).
* Dealing well with a high pressure and time constrained workload and environment.
* An attention to detail and a willingness to learn.
* Ability to read and interpret technical drawings.
* Fabrication and machining skills.
Really cool to hear from you Randy. How have you and the team at McLaren been spending your time with everything that’s been going on with Covid-19? Hope we can see you go racing in Austria in July!
So F1 teams have all been subject to an extended "shutdown" meaning that most of us haven't been allowed to work on F1 projects and many of us, consequently, have not been working in recent weeks.
Personally, I've used the time to try and get fit, having averaged c. 4 hours and 15 minutes of exercise every day since April 1st (yes I do have a spreadsheet), as well as trying to learn some new skills like React.
Many of the team have used the opportunity to spend time with their loved ones, which can be difficult with hectic schedules, to improve their cooking skills (I have eaten the best pizza I've ever had during lockdown!), do gardening and so on.
Everyone seems eager to get back to it and most teams will be returning to work over the next fortnight.
Hi Randy. Thanks so much for doing this, the answers so far have been really insightful. Can I ask, as an armchair fan, what can I look for over the course of the weekend to help me predict likely strategic calls on race day?
The main 2 factors are tyre behaviour (degradation, wear life and pace difference) and pitstop loss. From here you can get a basic understanding of the strategy before competitors are thrown into the mix.
Pirelli kindly provide some of the information each weekend on tyres and you can estimate the rest from FP2 long runs towards the end of the session. Pitstop loss is also often given by some teams (maybe rounded or slightly noisified - but close enough to give you the right number of stops).
With those 2 things you can work out the baseline strategy if you were racing alone and then you want to be considering the cars that are a pitstop window ahead and behind and see whether you would stop earlier or later than the baseline based on undercutting, traffic and so on.
Thank you so much for doing this AMA! During last year's German GP, I remember that a lot of us fans were interested in contrasting approaches made by two teams as the track started to dry up. One driver saw that the track was dry enough for slicks, called it in, and got the go ahead to take the gamble; he ended up coming very close to a podium. Another driver made similar observations and appealed repeatedly to his engineer to make the switch, but was instructed to stay out for several more laps, costing him points. I understand hindsight is 20/20 here, but if you were the engineer, would you be more inclined to take the driver's word when they potentially contradict the data, or vice versa? Do you believe there's a "correct" approach in situations like these, or a personal preference? Again, thank you so much! (Typed from my “Mclaren Edition” phone...I can't wait for the season to start, and I really wish you guys the best!)
Thank you for the kind words!
I think there is a lot you don't see (not your fault) when it comes to strategic decisions, this is amplified many times over in a wet or changeable conditions race, where decisions are extremely difficult, with lots of information, of varying quality/frequency.
I think we have learnt that it depends. Sometimes, we will weight the driver's input higher than anything else, sometimes it will be the least valuable information.
Do you employ many Americans on the team, and if so what does it take? Assuming they have the technical credentials of engineering.
So we have nothing against Americans, nor people of other nationalities - having the right to work in the UK is sometimes required although we do also help with visa applications this isn't always possible for us to do.
In terms of Americans on the team, we have Zak Brown, of course and I'll be honest and say I can't think of any others at the moment, although we have had a few placement students in recent years from the United States.
There's no extra requirement for Americans, especially as we're moving to Mercedes powerunits soon, we won't have too many issues with the pronunciation of Renault anymore.
What kind of people do you have in the strategy department? Are they mostly engineers, or like mathematicians and computer scientists?
Although we are largely engineers by degree, we don't really discriminate against other backgrounds and are often quite keen to add a diversity of ideas and backgrounds into the mix - a numerate degree is going to be very helpful though.
We are 60% mechanical engineers, 1 engineemathematician hybrid and 1 physicist.
Is it unusual to go from entry-level engineer to head of strategy in 6-7 years? What do you think drove your success?
I think it actually happened even a bit quicker than that - which had never been my expectation when I started.
It's hard to say what is unusual, there are so few "race strategists" in the world, let alone in F1 that I think there's not really a "usual" and often timescales can be quite variable based on circumstance (e.g. someone leaving/changing role).
I guess the success is driven by the confidence and belief in the strategy team, of which I am just a part - so the fact that the other members of the team are so good, that management above us let us independently improve and change our processes without blame nor interference etc. is what has really driven it. Also have the much wider strategy team that includes 10s of volunteers to thank - it truly is a team effort and no single person would have the impact they do without the team around them.
Does race strategist cooperate with aerodynamics department in any way?
So, I can't go into details but yes we do. Strategy is a really cool role because we end up dealing with pretty much all other areas - as we also cover things like Competitor Intelligence and Sporting matters.
In a more typical sense, just thinking about race strategy, there are a few areas that spring to mind, aerodynamicists and other engineers will be setting things like the wing level and the trades made here can affect performance in qualifying vs. the race, something that we as strategists are well placed to comment on the value of and also for setting cooling levels, we're responsible for weather forecasting and interpretation and so will often liaise with our aerodynamics colleagues about the risks of it being hotter than certain limits.
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Could you unpack a bit on what "competitor intelligence" does? Thanks!
"Mr Holmes, I would love to tell you, but then I'd have to kill you."
I'm afraid that in this case the answer is no. All I can say is that we do some pretty neat things using the various kinds of information (audio, video, images, data, quotes, etc.) to gain intelligence on things like relative performance, other teams and so on.
What’s your proudest moment in F1 to date?
Another tough one!
What makes me proudest is the Strategy team at McLaren. The team consists of around 5 people at its core and I can honestly say that they are the most talented, motivated, most passionate and smartest collection of individuals I have ever had the pleasure of working with. Everyone's level naturally rises when you work with people of this calibre and although the team is constantly looking for areas of improvement, challenging each other - it is also really just fun. I am very proud that I've played a part in pulling in each of my strategy teammates.
One other thing that gets close (other than Grand Prix which I'll cover in another answer) is Mission Control. McLaren were kind enough to give me the opportunity to manage the project to design a new Mission Control from scratch, build and deploy it. We were responsible for building contractors, ventilation, budget, aesthetic, even unpacking and setting up over 30 machines. The Mission Control room is an awesome facility and we built it together as a team. A lot of it is secret but here's a photo you are allowed to see:
Hello, Do you go on reddit and check this sub sometimes?
I would say more frequently than sometimes and I'm not the only one who works in F1 than does.
The content on here can be amazing at times - from some of the photos, to some of the data visualisations - and sometimes it is just fun to read comments and see how different our perspective of a race/event can be to that of fans.
You've talked about refuelling in a previous answer, and how it might affect strategies, but what is your opinion on the current tyres, and how they basically force the teams to do a two-stop strategy? Would you prefer if the tyres were manufactured in a way that makes them more durable? Thank you!
So, I would start by saying the tyres don't force teams into 2 stop strategies, however, the front-runners will have a higher propensity for 2 stops over 1 stops in the current regime, which may present a more skewed picture to fans.
I believe and I think my colleagues and competitors agree, that good racing does involve some strategic flexibility and variety and a good sweet spot is to have races that are at crossover between 2 an 3 stop strategies (crossover means the timings and track position work out such as to be roughly equal).
However, Pirelli are in an unenviable position with regards to giving us tyres that would encourage 2 or 3 stop crossover events, as the drivers also need to be able to push the tyres lap after lap to get good racing.
So you can see that Pirelli have to try and balance both concerns and I think with that in mind they are doing a good job of finding a balance.
The strategy with sainz in Brazil was amazing man
Thanks for the kind words but the strategy in Brazil (I hope) was as good as in Austria, or Hungary, etc. We didn't do anything particularly special but in this case the outcome was particularly good - we try and judge ourselves on our decisions/processes/analysis rather than the outcome as the outcome/result can be dependent on chance which is outside our control.
Have you found any books in particular helpful when it comes to the soft skills required working in a multi-department environment, also when it comes to the overarching strategic principles. Building on that, how often do you find yourself acting against the data/conclusions presented to you in favour of your own observations or “common sense”
I think the most useful book has been Harry Potter and the Order of the Phoenix as it really demonstrates the importance of teamwork. Mark Corrigan's seminal "Business Secrets of the Pharaohs" and Michael Scott's "Somehow I Manage" are also essential reading.
Seriously though, a difficult one, I think a lot of skills are picked up outside of books, things like logical problem-solving, being extremely pro-active, etc. however, some books that I find have been useful are:
* Thinking Fast and Slow (almost essential reading, Thinking in Bets is also good)
* The Intelligent Entrepreneur (very inspiring)
* Outliers (to try and replicate some of the factors)
* Legacy (a great book about teamwork and management)
* Resonant Leadership (given to me by manager and a great read)
Speaking from a career standpoint, does having a background in something like biology factor into a possible role at all? Something of a mix of Biology and Engineering (Biomed, Bioengineering etc)? Thanks!
It can do - I specialised in Biomedical Engineering as one of my electives in my final year at university, by the way.
Especially in strategy, different viewpoints/experiences/backgrounds can be very useful.
So we're hearing that Austria and maybe Britain is going ahead, is McLaren prepping for this or are they waiting for official word from Formula 1
I can't comment on the calendar as it stands as that would be breaking confidentiality. However, I can say that Liberty and the FIA are working tirelessly to bring a calendar together and it was something that we all discussed yesterday in the Sporting Working Group and is no doubt being discussed on a daily basis in other forums also.
The teams, including McLaren, are trying as well to prepare for the season starting soon whilst remaining flexible such that if there are changes we can adapt to them quickly and well.
How do you judge a mandatory 2 pit stops instead of only one? Can this make the races more enjoyable in your opinion? Thanks
I don't think mandatory 2 stop strategies are a good idea. I can talk about this openly as its something we have debated with other teams, the FIA and Liberty as well and as a group we decided against it.
The reason I don't like mandatory 2 stop strategies is that it is artificial and artificial constraints (I believe) will lead to more strange/bad occurrences than good ones.
The benefit of mandatory 2 stop strategies is that everyone will make 2 stops which on average is more stops than we currently do and we believe that more stops (to a limit) typically lead to more exciting races.
However, the downside is that this is purely artificial. If the race is a clear 1 stop and we add a second stop artificially then it's more likely that that stop could be placed in a strange spot, because the sensitivity to its timing could be low - you may see cars pitting very early or late into the race and therefore the race is still like a 1 stop (you don't get the full benefit on racing of the second stop) - especially with a point for fastest lap.
You may then argue that we could force the second stop into a particular window, or set a limit on stint lengths. This also has issues, with cars likely to be concentrated on one side of the window and then there may need to be more artificial constraints.
I very firmly believe that the best way to encourage more stops is to keep constraints on strategists light and influence the primary factors that determine how many stops there are, that is:
* Pitloss (decrease = positive pressure on number of stops).
* Tyre behaviour (worse behaviour = positive pressure on number of stops).
What's it like working for the most positive and happiest team?
Let me ask some of my friends at other teams and I'll get back to you soon.
Only kidding 😁 ! I can't say if McLaren is the most positive/happiest team as I've not been everywhere, but its certainly the most fun, positive, happy, smart, etc. etc. team I've ever worked at.
I love it. It's the people that make McLaren (and I know that's a cliche) special and I enjoy working in such a tight-knit, funny, motivated team.
What was the most difficult race strategy wise in your F1 career?
My first race, I think stands outs - the 2013 Australian Grand Prix. I started work on January 2nd that year (my first real job in F1), had no strategy experience, had to do lots of winter reporting and had no strategy mentor (as the previous strategist had left already). I'm not sure "baptism of fire" and "thrown into the deep-end" are mixable metaphors but that's what it felt like.
To make matters more "interesting", the data showed and I was convinced that it would be a multiple stop (probably 3 stop) grand prix, based on what we had observed in Winter Testing and during Friday and Saturday running. This was in sharp contradiction to recent history at the Australian Grand Prix - so there were many heated discussions over this (with the majority of the team heavily disagreeing with it being more than a 1 stop race and every member having much more experience than I).
Turns out lack of experience can be an advantage sometimes. Teams tended to do a 2 or 3 stop race, but the latter was much better. Teams were reluctant to add stops given experience and recent history of the Australian Grand Prix and this pushed many into poor strategies, rather than adapting to the tyre behaviour we were observing.
2013 was an interesting year for strategy, with empirical data and lack of bias being really important to getting the strategies right. If you were to look through those races there are certain teams that flip-flopped a lot and others that quickly adapted to the new 'normal'.
Hi Randy, I don't know if this is already over but I'll try anyway. It's no surprise that working in F1 in any capacity must be extremely competitive. Is there any chance for someone considering a career change to be able to get a foot in the door? I work in investment management and realise that I want to be as close to my passion as possible. I'm open to pretty much any job just to get in. Naturally Id hope to have some transferable skills but i would focus on the chance to build skills and potentially go from there. Any advice? Thanks!
I think perseverance and desire are key and yes it is possible. Coincidentally, I was working in the investment industry when I was offered the chance to take a full time role in strategy for the 2013 season.
I had worked at Williams for my final year project at university, but had been "out of the game" for a couple years when I got the offer to return.
Hello Randy, I am sorry if this has already been asked. But I would like to know your thoughts on: The new strategy involved on the new regulations/ground affect designs on the new Formula 1 vehicles? Is this a step in the right direction? Love to hear an professional / insider view on these new changes to the sport as the team Engineers do not seem to have a big say in the acceptace of the design limitations from FIA.
I personally think the new regulations (Sporting, Technical and Financial) are moving the sport in the right direction and so am looking forwards to them being introduced over the coming years.
I would also say, as it may not be obvious to fans, that teams and engineers are heavily involved in these regulations. Whether that is us helping to draft parts of them, sense check them, vote on them, etc. it is a very open, constructive forum between the teams, the FIA and FOM (and other external experts as required).
Day 5: Mr. Singh is still answering questions. He's now one of us. LEGEND, and thanks to McLaren for allowing this. -Best AMA yet? DCanswered4questions.
Haha thank you!
I will probably have to stop soon - but have a few more answers coming on a few families of question I haven’t yet answered. 🙂
Hi, Randy, Your answers are great, thank you! One of my most favorite McLaren performances of recent years was Fernando's insane race in Azerbaijan in 2018, when he had a double tyre puncture but still managed to finish 7th. Were you still his personal strategist back then? What was your role in his success? What were you thoughts when you saw him limping to the pits on two wheels? What did you do after that?
What a race, eh? "Personal" strategist, you make us sound like mathematical butlers... 😁.
I wasn't Fernando's strategist at that time, Chris (one of our team) had already taken over by then and I was leading the team. It was not an easy race, although it may look like we sat back and watched, there's a lot of decisions made that you don't see and a lot of decisions made not to do stuff.
It was a good team effort from everyone to stay calm and try and pick up the pieces after the incident on the first lap, when the car rolled into the pits we did consider retiring it - but as a famous paper salesman once said "you miss 100% of the shots you don't take". What outsiders (who get special access) often notice is that the team stays calm, you can't get wobbly or excited over the incident/accident, you need to be calm, methodical and logical.
I think this is my favourite question so far. 😀
To be honest, the questions are very interesting and I have had so many people answer questions for me when I was in the position of being a fan/student and that changed my life by helping me get my dream job. If I can give back a fraction of the help/information I've received then I'll feel very happy!
How contagious is Landos laugh?
I don't know about you but I find it quite grating. Do you know the feeling you get when you hear someone scratch their nails across a blackboard, or when your alarm goes off and you're still tired?
In all seriousness though, Lando is a funny guy and does always keep the mood nice and light.
Hi Randy. Who is your favourite member of the IT team? Sincerely, Definitely not a member of the IT team.
Trick question! I don't have a favourite member of the IT team. 😁
Is there any role for physicians/doctors on race teams?
As doctors, I would probably say no. Most teams won't employ their own doctors anymore or will do so in a very limited capacity.
However, that doesn't mean we don't have medical support, it tends to come through external organisations that support F1, such as Formula Medicine, for example, or the FIA's Medical Programme.
We also occasionally get applications for strategists who have a medical background - and that isn't something we look down upon, if anything it may provide a skillset/experiences that would be complementary to those of 'mostly engineers'.
I understand you may not answer because this may be sensitive, but Which method of steering the ship do you think is more effective ? The steely dictatorial grip of Ron Dennis or the More lenient managerial approach of Zak brown ? From a fan perspective, I love that mclaren drivers aren’t on such a tight leash.
I never really worked under Ron as I joined in mid-2015. I have to say that the management style I’ve experienced throughout has been great - no blame culture, very open and understanding, letting the experts make decisions, etc.
Have you ever sat on the pitwall at the start and said (even to yourself) "And it's lights out and away we go."?
I haven’t! I imagine I now will at whichever Grand Prix we get the pleasure of starting first this year.
Is Ferrari’s strategy as much of a running joke in the paddock as it is by the fans and here on reddit? Maybe you can’t really answer that truthfully but I’ve always been curious. It’s obviously a difficult job but I do wonder if they shoot themselves in the foot as often as it seems from the fans perspective.
Answered elsewhere in the thread.
It's a difficult, stressful job, so you always have respect for your competitors.
In your experience, would adding flame decals to my truck make it go faster?
Where are you going to place them? What colour are the flames?
Hey randy, i am a 15 year old girl who lives in india and my dream is to become a formula one engineer or work in f1 in anyway. What do u think are the educational qualifications needed to become a formula 1 engineer and what exposure do u think i need to even be close to full filling my dream. I have been following mclaren f1 team for quite some while now and love the friendly environment inside the team.
As PapaKeth says, hopefully there are some answers to your question about what qualifications are required in my other comments.
Can I say though, don't let being 15, female, or living in India deter you - none of those things are a blocker to getting a job in F1 in the future.
Hi ! Thank you for answering some of our questions ! I've been wanting to ask, in the event of a car failure ( engine failure, hydraulics failure, etc) how do you become aware of it ? Do you have a real time data link to the car as an engineer ? Or is it something you see on a TV ?
So we get data from the cars "live", there are hundreds of sensors on each car and this data is transmitted to us at the track and we also transmit it back to HQ in Woking. There are tens of people looking at the data and typically we will spot problems in the data, or based on feedback from the drivers, before we see them on TV.
That doesn't mean that we never spot stuff on TV first - sometimes you don't have instrumentation for certain things and so you may spot it visually first and the TV feed is a good way of sense-checking in some cases as well.
Do you think Stoffel deserved to still be in F1? (Not necessarily with McLaren)
100% - he is a great talent and I'm very glad that he is doing so well in Formula E.
Hi, thanks for doing this Q&A. Working for an F1 team is the dream, though I understand it's very difficult to get in. I'm disabled, would this matter to an employer? Do you have any advice on how I could approach this to someone as I'm just finishing my first year at University and hoping to apply for internships. Also, (sorry if you've answered this question already) I am studying Mathematics probably going to move into Mathematics and Statistics. Would it be possible to apply for a strategist position with a Mathematics degree?
Your disability should not matter to an employer and I really believe it will not. We have people with disabilities working at McLaren. Perhaps if it is something you are concerned about or if its a disability that a team (or McLaren) could help make easier to manage (apologies if my wording is not sensitive) then I would highlight that in your application when you apply for a role.
Mathematics is entirely sensible as a background for a strategist role. I started off in Mathematics (& Statistics) before I moved over to Engineering (I found Mathematics at university to be too abstract for my liking). If you are doing Statistics anything that covers stochastic modelling would be particularly relevant to strategy.
I want to work in F1 in the future and preferably an engineer role. Would studying Mechanical Engineering be the best course to get a chance? Thanks
I would say the majority of F1 engineers have studied Mechanical Engineering but that doesn't necessarily equate to it giving you the best chance of getting in. Engineering skills (and particularly mechanical engineering skills) will make you suitable for a multitude of roles in an F1 team (from strategy, to design engineering, to race engineering and performance analysis), so naturally you would expect more mechanical engineers.
I would have a think about the role that you would like to do and what qualifications would give you the best chance for that role, it could be that its Computer Science instead, or Aerodynamics, or maybe it is Mechanical Engineering. I would also think heavily about how interested you are in said degree - a degree is not a small investment of time, money and effort and its important you do something you enjoy.
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Hey Randy, this answer was not directed at me but I just want to let you know it really just helped me out. I recently dropped out of mechanical engineering because I wasn't enjoying it and made the switch to computer science. It really pained me for a while thinking about giving up the F1 dream because my career choice wasn't ideal for me. So yeah, thanks. While I'm at it I'd like to add a question about computer science in an F1 team, what kind of roles could I take part of with that degree (specificaly at the track, though I see how that's a bit less likely)? Are there masters degrees or specializations more sought after in certain areas? Again, thanks a lot for you time in answering these questions and apologies for the bad english 😅
Hi, no worries and thank you for the appreciation.
Computer Science is a numerate enough degree at most places that you could lend yourself to any role as long as you can pick up the required engineering knowledge as well. Obviously, something in areas like Software Engineering, IT or Vehicle Science/Modelling may be most relevant/easy but there aren't necessarily many trackside opportunities in those areas.
Hello, First of all, thanks for answering all those questions. It's nice for us students dreaming of F1 to have something to look up to. So I am studying mechanical engineering in France and I am really looking forward to become a Motorsport Race engineer, and obviously F1 would be the dream. What I like the lost in that job is the trackside aspect, travelling, living the race. As I imagine, you need some years of experience to become a trackside F1 engineer. So do you think building experience in lower formulas like F2/F3, FE, or prototypes, GT...as performance/data engineer in smaller teams is a good way to line up for a trackside job in F1 ? Or is it recomended to start as an engineer at the lowest level directly in F1 and try to climb the ladder from there ? What is the proportion of your trackside colleagues that come from other motorsport categories ? Thanks !
Great - I look forward to working with you, or competing against you in the future!
That's a tough one. I wouldn't say trackside experience, per se, is very highly desired for trackside roles, but rather a demonstration of the deep technical/operational knowledge, the ability to deal with stress, etc. that makes people successful in those roles.
For this reason, I would say it's better to be in an F1 team and then attempt to try and go trackside, than to be trackside in a 'lower' formula.
The data, from my experience, suggests the same, the vast majority of engineers are in F1 first and then go trackside, rather than being trackside outside of F1 and moving to be trackside in F1.
That is not to say that experience in 'lower' formulae is not immensely useful to securing a job in F1 (just, I believe less preferred than F1 experience).
We have - and not just sports too.
We have met with data scientists from football teams, coaches from the Olympics, rugby teams and professional cyclists - as well as many engineers and drivers from other motorsport series.
We also try and keep learning by working with partners or contacts across the military and commercial fields also.
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Can you expand on the military part?
Only at a high level, I'm afraid - as I wouldn't want to give anything away to others.
One area that I can talk about is that many teams will use military or ex-military experts to coach/train/share ideas with their personnel as there is a lot of overlap (as there is with many commercial fields also). So, for example, the military practice high quality communications on a regular basis, in highly stressful/pressured situations - that's an area where many teams have worked with ex-RAF personnel, for example, to share best practice, to coach and teach personnel and to improve processes.
Hi Randy My question is, if there's for example safety car deployed and the decision whether pit or not have to be made quickly, can the race engineer and the driver make a decision without asking you?
They can but they shouldn't and I can't think of an occasion when they have.
Strategy decisions are made by the strategy team (not necessarily by me) and we have processes in place for making decisions where we have lots of time (normally measured in minutes), down to decisions where we may have 2 or 3 seconds to decide what to do for both cars and execute the communications/actions to do it.
Sometimes we may pre-make the decision and sometimes we have to make it on the fly or override our original intent - the thing about safety cars is that the cause of them can often change your variables/strategy.
Can you speak on how the sport has changed in the past few years in aspect to big data. How has data gathering and manipulation changed the sport? Specifically when it comes to making decisions based on past and current strategies. What kind of software and hardware have made the biggest changes, and how do you see the future of F1 benefit from AI/Big-data? Thanks for any info you may be able to share.
McLaren have always been data-driven, so things haven't changed too much recently. We are finding better ways to analyse the data we have and to draw insights from it. I'm afraid I can't say too much more.
Why is it that you still see signs being held out to the drivers at the pit wall? Surely there can’t be anything said on these signs which can’t be said over the car radio? There’s gonna be a simple answer id imagine. I’ve always thought that it would be hard to try read a sign while travelling at 200 mph?
It happens so rarely nowadays but the radio can fail, so the pitboards are a backup for that. The drivers should always give them a look as they go past (and they rarely do!) in case the radio has failed.
In the current times, where radio is public to other teams they could also be used as a way of passing coded messages, but we do watch them and that doesn't seem to be the case.
Hey Randy! Big fan of your work last season! My question is: Other than focusing on optimising strategy through the various instruments you have for every next race, what portion of your work is dedicated to improving the tools you have to work out strategies, or developing new technologies and methods? Is this something done consistently or over the winter? And lastly, how much does McLaren Applied work with you in using the newer tools in their work? Thanks :)
With how busy the season is, often it is difficult to spend too much time doing development in the season, so big projects are typically tackled over the Winter period between seasons (although this is also getting compressed).
However, we are constantly, both in race weekends and between, developing our analysis techniques, smaller pieces of software, our understanding of competitors' behaviours, etc. so there is a constant ongoing development battle.
We do work with McLaren Applied fairly frequently across the business - we're not currently doing that on strategy projects.
the below question has been split into two, enumerated
Hi, thanks for doing this AMA! I've spent a lot of time reading your answers!I don't know if you'll answer this too but I'll try asking something anyway 1. What are the possible roles that a computer science graduate could cover?
Hi! If you wanted to be very computer science focused, I guess software engineering, IT and some of the compute type roles would be interesting. If you're willing to pick up engineering knowledge then things like Vehicle Science modelling and CFD can open up too.
2. What are the main languages/frameworks used in the F1 enviroment?
3. Are you worried about Daniel coming next year? I mean, probably it will be hard not to laugh for the entire week-end when he's with Lando! Thanks in advance, totally not a computer science student.
Hi Randeep, first of all, thanks for your deep insights into the world of Formula 1 and McLaren. My question to you is, how do McLaren (or any other F1 team for that matter) ensure a stable electrical power supply in the case of a loss of normal power supply (Diesel Generators/UPS/battery banks) at both the factory and less likely to occur but still possible, at the track? Bonus question; how do teams (McLaren) prepare for different types of electrical outlets, voltages and currents all around the world?
To start - I’ll say I’m not an electrician - take the below with a pinch of salt.
Most teams will have generators at the track (actually various kinds - to run stuff on the grid, in the trucks at European events and external ones at fly away races) and some kind of UPS system as well. Power supplies at circuits can be ‘temperamental’ and often there are power outages for specific reasons too.
In terms of for electrical outlets - we as end users just bring our UK stuff and plug it in! There’s an electrician and IT team who ensure that everything is set up and good to go and sneak with different voltage, phase, etc. supplies.
How did it feel to be part of mclaren last year? Like it has been in an incredible year with outstanding results.
I have to say, I have enjoyed every year at McLaren and I started in 2015 when the results weren't outstanding - I am working with really awesome people and even through the bad times it is great to see the team spirit that pervades through everyone.
Last year was incredible and it's good to get an upswing in performance and to see teammates celebrating the thick after making it through the thin!
Who won the bet where Lando had to have ur face as his lock screen till Abu Dhabi last year?
Lando won the bet, but he also clearly has no shame. 😃
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When it comes to trading cryptocurrencies, you have to speculate whether the market you have chosen will go up or down in value. And the interesting thing is that you never own the digital asset. Actually, the trading is done with derivative products like CFDs. Let's take a look at the benefits of trading crypto currencies. Read on to find out more. Volatility While the cryptocurrency is a new market, it's quite volatile because of the short-lived speculative interest. The price of bitcoin dropped to $5851 from $19,378 in 2018, in just one year. However, the value of other digital currencies is quite stable, which is good news. What makes this world so exciting is the volatility of the value of crypto currency. The price movements offer a lot of opportunities for traders. However, this comes with a lot of risk as well. Therefore, if you decide on exploring the market, just make sure you do your research and put together a risk management strategy. Business Hours Typically, the market is open for trade 24/7 because it is not regulated by any government. Moreover, the transactions are done between buyers and sellers across the world. There may be short downtimes when the infrastructural updates take place. Improved Liquidity Liquidity refers to how quickly a digital currency can be sold for cash. This feature is important as it allows quicker transaction times, better accuracy and better pricing. Generally, the market is kind of illiquid as the financial transactions happen across different exchanges. Therefore, small trades can bring large changes in the prices. Leveraged Exposure Since CFD trading is considered a leveraged product, you can open a position on what we call "margin". In this case, the value of the deposit is a fraction of the trade value. So, you can enjoy a great exposure to the market without investing a lot of money. The loss or profit will reflect the value of the position at the time of its closure. Therefore, if you trade on margin, you can earn huge profits by investing a small amount of money. However, it also amplifies losses that may exceed your deposit on a trade. Therefore, make sure you take into account the total value of the position prior to investing in CFDs. Also, it's important to ensure that you are following a solid risk management strategy, which should involve proper limits and stops. Quick Account Opening If you want to buy crypto currencies, make sure you do so through an exchange. All you need to do is sign up for an exchange account and keep the currency in your wallet. Keep in mind that this process may be restrictive and take a good deal of time and effort. However, once the account is created, the rest of the process will be quite smooth and free of complications.
Best broker/software for day trading/ potentially scalping?
Ive been day trading so far with T212 CFD's, I'm finding it difficult to work with my strategy for two reasons: The margin seems to be massively biased towards nullifying potential profit and widening at the best point of entry. Often the difference between the buy price and sell price is larger than most peaks on the graph. Fee free would be great but not essential. Im not trading a large sum so leverage would be good but having the ability to modify the leverage would be great. I have seen some live trading/scalping where the software allows the small 90% gains that T212 seems designed to remove. I have a strategy based on support and resistance and trading the breakouts so any suggestions for platforms that support this would be great. Leniency on scalping is essential as well, an issue I have with T212 as I am missing trades because I know I wont be able to hold them for 5 minutes.
Trading Report for Week Starting 27th April, 2020.
This is a recurring weekly post to track all analysis, trades and outcomes in one place. This will be posted for the start of each week. The weekly round summary will be completed during the weekend, and the daily sections will be updated each time an entry or exit is made in real time, so this tread can be bookmarked and checked daily if you want to follow. All entries will be posted when taken. Both profits and losses will be reported, as will both accurate and inaccurate analysis/forecasts. Analysis and trades will be assessed on a scale of 1 to 10. This will be a self assessment intended to show the effectiveness, or lack of, of the analysis and personal record keeping. If you think the grades are wrong, you can comment your option of the grades. You can see tracking of monthly forecasts and trades here. https://bearmarketsprofits.com/analysis Long term, mid term and immediate term analysis/forecasts can be found at the bottom of this post. **Bookmark this post if you want to follow updates. Check the "Analysis and trade links sections" for daily real time updates.*\* End of week summary.
Options Closed PL (K)
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Net Results Since Stating; Closed: +260 Floating: +85 Daily Breakdown.
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Futures Closed PL (K)
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*************************************************************************************** Analysis and Trades Links This section will be updated as new entries and exits are taken each day. (Check here for live updates) *************************************************************************************** Monday - Profit/Loss overview
Links to analysis, entries and exits posted for these trades *************************************************************************************** Thursday - Profit/Loss overview
Options Closed PL
Futures Closed PL
Options Floating PL
Futures Floating PL
Net Closed PL
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Trades breakdown Options
Links to analysis, entries and exits posted for these trades *************************************************************************************** Friday - Profit/Loss overview
Options Closed PL
Futures Closed PL
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Futures Floating PL
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Trades breakdown Options
Links to analysis, entries and exits posted for these trades *************************************************************************************** Analysis and Trades Assessment (1-10. 10 is best) Monday - Analysis: Trades: Comments: Tuesday - Analysis: Trades: Comments: Wednesday - Analysis: Trades: Comments: Thursday - Analysis: Trades: Comments: Friday - Analysis: Trades: Comments: Roundup of the Week (Comments) Analysis Overview Long term analysis; This is an overview of long term analysis. This will not be updated regularly, so if you've read this once skip to the monthly overview, after the line break. Jump to the bottom section for weekly (new) updates. --- Find a three year forecast of the Dow Jones bear market of the 2020's here. --- ----------------------------------------------------------------------------------------------------------------------------------------------------- The US indices have been forming a bubble over the last 50 years. In 2000 and 2008 we seen the early 'Bear trap' sections of the bubble and then in the following decade we seen enthusiasm become greed and greed become delusion. The 30% gain in the S&P500 through the year 2019 was the final stages of this bubble. Here is a post describing us being in the 'Delusion' stage of the bubble in January of 2020. The pop of this bubble and the following bear market will not be a nice fast one like the crashes of 2000 and 2008, it will be a more drawn out affair where prices drop far lower. The crash of the 2020's will be more like the crash of the 1930's depression. See the analysis leading to this conclusion here. In the months of January and February major US indices traded into the zone where a bubble template would be looking for the top to be made. Read about how this method has worked in previous crashes here. First forecasts in late January were mostly stopped out. There were losing signals on the Dow around 29,300 and some in February at 28,900. Individual stocks shorts done poorly, One exception was the Vanguard dividends index VYM. This did make it's high on the exact price first posted. Individual stocks picks done particularly poorly in January. TSLA almost doubled from the first shorting price of 510. Some did a bit better. Like shorting T at 39. Later in February more sell signals were generated as price traded briefly over important resistance levels. If price broke back under these it would suggest market weakness. These were 170 on VTI and 29,000 on the Dow. Once these levels were broken the bear market began. In the following days a signal for a 30% drop on the Dow Jones came (and was successful). Individual stock picks did much better in February. High prices were signalled in MSFT, BRK, SPCE, GOOG. A high on AMZN was called, but price later traded higher. The best signal generated was a buy on the TVIX from 34 to 800. In the month of March , 2020, the bubble popped. Most risk based assets and indices crashed over 30%. First analysis post said to wait for a bounce to sell into, but this was updated before the market opened to say prices could fall 8% and then 30% in March. At this point the TradingView account was suspended. Only one account is allowed, and this was set up specifically for a 2020's bear market. So no further posts or updates were made there. On the 3rd of March came the first signal to look for the down move entering somewhere in the 16,000 - 18,000 area on the Dow Jones. Followed by a post on the 16th of March saying we're entering into the bull trap. The low on the Dow would be made around 18,250 on the 23rd of March. From here a rally began which has made a current high of 24,500. April of 2020 has been the bull trap month. Some losing signals have been generated in the later couple weeks of April. A few calls on the top of the bull trap have been made. Prices have not went substantially higher, they've just not dropped. A forecast on the 17th of April marks the current high, but it looks like price can trade a bit higher. A post on the 19th of April calls for a crash in the S&P500 to 1,600 within the next 5 - 10 weeks. Today is the 25th of April. Over the last two weeks forecasts of a big drop starting have been inaccurate. I very strongly suspect this is akin to the sell signals generated in late January and early February. It's the right idea, but it's just the wrong time. A top in the Dow Jones somewhere in the 24,000 - 25,000 area could be the end of the bull trap and a huge fall would be due in the months ahead. If this fall happens in the month of May or June, a low can be made in around 8,000 - 9,000 on the Dow Jones. From here price can bounce back to around 18,000 (over the space of about 6 months). The next bear market could then start sometime around the year 2021, and be a two year bear market taking the Dow Jones all the way down to under 5,000. ----------------------------------------------------------------------------------------------------------------------------------------------------- Monthly Analysis This is an analysis of forecasts for the month ahead. These will be updated monthly. If you've read this month's you can skip to the next line break. ----------------------------------------------------------------------------------------------------------------------------------------------------- Month of May: It's the last week of April and the month of May will soon start. Expecting the month of May to be a strong sellers month. During this month the sellers may be able to break the lows of March and this would be a signal that a big market crash could soon follow. The big sell might not happen in May, it could be in June, but May is probably the best month to position for a market crash. ----------------------------------------------------------------------------------------------------------------------------------------------------- Weekly Analysis This is an analysis of the week ahead. Please be aware immediate term forecasts are often the harder ones to make, and this means there are going to be more times weekly forecasts are inaccurate (Even if the overall forecast turns out to be accurate). Especially when picking out reversal levels, to get this correct to the day is often hard and can take a few attempts. ----------------------------------------------------------------------------------------------------------------------------------------------------- Week starting 27th of April: It looks like last week I was suckered into the little bear traps near the end of the bull trap. This has probably been FOMO. Wanting to err on the side that would make sure I was in the trade if it happened. This has been an emotion based mistake that actually directly conflicts with the first forecast of a high on the Dow around 25,000. I've taken early sell signals 24,000 and 24,500 and been quite convinced the 24,500 spike was the high. Heading into the week, I think I've been mistaken and the high is indeed going to come in very close to 25,000 (About 24,900 and I'll probably start to sell around 24,800). I think this move will be a stop run against all us sellers who've made the same mistake (Not all will notice it). In the week ahead I'm planning to hedge by sell orders for a big spike up close to 25,000. I'll be expecting this spike to be a fast move and probably come off of some sort of positive news headline. I'll edit this post to add in some more detailed analysis of my trade plans for the week ahead. This will be done by the open of Monday market, so check back to read that. Update: Hour before the week's open. Here is the expected move and pending entry into the Dow Jones. https://bearmarketsprofits.com/2020/04/26/26th-april-2020-watch-for-the-pick-pocket-high/ Update: My perspective on different put options expires in light of recent mis-forecasts of the end of the bull trap. https://www.reddit.com/use2020sbeacomments/g8k74v/to_nervy_puts/ ----------------------------------------------------------------------------------------------------------------------------------------------------- If you benefit from this analysis, please remember to be considerate to those who (through no choice of their own) ended up on the losing side of the circumstances that allowed your trades to profit. Please share this analysis with anyone you think it could help.
When it comes to trading cryptocurrencies, you have to speculate whether the market you have chosen will go up or down in value. And the interesting thing is that you never own the digital asset. Actually, the trading is done with derivative products like CFDs. Let's take a look at the benefits of trading crypto currencies. Read on to find out more. Volatility While the cryptocurrency is a new market, it's quite volatile because of the short-lived speculative interest. The price of bitcoin dropped to $5851 from $19,378 in 2018, in just one year. However, the value of other digital currencies is quite stable, which is good news. What makes this world so exciting is the volatility of the value of crypto currency. The price movements offer a lot of opportunities for traders. However, this comes with a lot of risk as well. Therefore, if you decide on exploring the market, just make sure you do your research and put together a risk management strategy. Business Hours Typically, the market is open for trade 24/7 because it is not regulated by any government. Moreover, the transactions are done between buyers and sellers across the world. There may be short downtimes when the infrastructural updates take place. Improved Liquidity Liquidity refers to how quickly a digital currency can be sold for cash. This feature is important as it allows quicker transaction times, better accuracy and better pricing. Generally, the market is kind of illiquid as the financial transactions happen across different exchanges. Therefore, small trades can bring large changes in the prices. Leveraged Exposure Since CFD trading is considered a leveraged product, you can open a position on what we call "margin". In this case, the value of the deposit is a fraction of the trade value. So, you can enjoy a great exposure to the market without investing a lot of money. The loss or profit will reflect the value of the position at the time of its closure. Therefore, if you trade on margin, you can earn huge profits by investing a small amount of money. However, it also amplifies losses that may exceed your deposit on a trade. Therefore, make sure you take into account the total value of the position prior to investing in CFDs. Also, it's important to ensure that you are following a solid risk management strategy, which should involve proper limits and stops.
In the financial circles, a contract for difference (CFD) is a contract between two parties,described as "buyer" and "seller", this contract stipulates that the buyer will pay to the seller the difference between the current value of an asset and its value at contract time. History Developed in London by Brian Keelan and Jon Wood, both of UBS Warburg, on their Trafalgar House, in the 90s CFDs was an instrument used as a type of equity swap that was traded on margin. It was introduced to retail traders. They were popularized by a number of UK companies, characterized by innovative online trading platforms that made it easy to see live prices and trade in real time. The first company to do this was GNI. They were followed by IG Markets and CMC Markets who started to popularize the service in 2000. The year after, some CFD providers realized that CFDs had the same economic effect as financial spread betting in the UK except that spread betting profits were exempt from Capital Gains Tax. Most CFD providers launched financial spread betting operations in parallel to their CFD offering. In the UK, the CFD market mirrors the financial spread betting market and the products are in many ways the same. Subsequently CFD providers then started to expand to overseas markets, starting with Australia in July 2002 by IG Markets and CMC Markets. CFDs have since been introduced into a number of other countries. They are available in Australia, Austria, Canada, Cyprus, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, The Netherlands, Luxembourg, Norway, Poland, Portugal, Romania, Russia, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, United Kingdom and New Zealand. They are not permitted in a number of other countries – most notably the United States, where, due to rules about over the counter products, CFDs cannot be traded by retail investors unless on a registered exchange and there are no exchanges in the US that offer CFDs. In 2016 the European Securities and Markets Authority (ESMA) issued a warning on the sale of speculative products to retail investors that unfortunately included CFD sales. There are many risks involved in CFD transactions. These are divided into 3. These are Market risk, Liquidation risk and Counterparty risk. How does Koinpro step into all these? Koinpro is a crypto exchange of currencies in circulation. You can buy and sell some top coins like BTC, ETH, LTC, USDT, XRP with extremely preferential fees.We have a lot of regular exchanges, both crypto and fiat(mainstream and otherwise) trading tools like CFD, oil, futures etc; but not one of them integrates them like Koinpro. Its a no-brainer choice, since going for KoinPro’s unique double-UP contract, customers can simply enter into a predefined order position that will automatically terminate when the position either gains or loses 100% of its value, or when the contract expires — whichever comes first. Thus newbies and professionals, can trade any futures can easily benefit from trading with 100x leverage, without exposing themselves to the all too familiar risk of volatility associated with cryptocurrencies. Koinpro also reduces the risk of trading, especially that of CFDs with its in-depth insurance policy with Bitgo. https://koinpro.com/ https://bitcointalk.org/index.php?topic=5219842
So I am quite new to trading. I've always wanted to invest and I feel the current market is a good opportunity to get into it and make some money and learn the ropes for the future. So far I have just invested in stocks and made a little bit of money selling everything off before good friday. I dont have huge capital (around £6000) so my profits obviously arent massive. However, I have been researching CFD (I live in the UK) and whilst I understand that with leverage comes greater risk I feel like I should invest in CFD to make a greater profit. One thing I came across was that to hold a CFD overnight a charge is incurred and I don't think I would be very good at day trading as it seems much more of a gamble. Does anyone have any advice on whether CFDs are a good idea. If so, is the holding charge significant? Also, what strategies do people employ when dealing with CFDs? Am I missing something entirely and do you think I should stick with stocks? Any help will be greatly appreciated.
Hi All, I have reached a final stage interview for a role which I really want however the task they have given me has left me a bit aloof. I was wondering if anyone could give me any pointers or tips (I have a framework for the answers but just want others opinions) on the task at hand? The task is: How would you approach each scenario from a purely paid traffic perspective. Bear in mind: - Business model is dependent on traders placing orders (traded accounts), before which they would have opened a demo account, then a live account which they would have then funded - You have no budget constrains - All relevant paid traffic channels are available for you - You have unlimited access to Copyright, CRO, design and pixel implementation resources if needed - You’ll need to define how to measure success - The scenarios are purposely vague, to provide as much freedom as possible to come up with an approach Scenario 1 We get significant levels of Crypto related traffic. However, the conversion from click to demo account is low Scenario 2 Shares related traffic generates drives good volume of clicks and demo accounts, but conversion from demo accounts to traded accounts is insufficient Scenario 3 CFD and Spread Betting traffic has far greater value than any other product, and it converts well throughout the funnel. However, volumes are low My approach is to firstly have a consistent measurement framework for all three by placing a pixel measuring activity on the demo accounts to allow audience creation by engagement levels. For crypto targeting top level generics on search, FB and display via interests/affinity to accumulate traffic and direct to informational pages, collate audience and re-target aggressively with creative calling out benefits of the platform and the positive aspects of volatility of crypto. Shares - Test various CRO tactics with landing page tests, check drop offs on site, possible re-engagement with promotional messaging depending on how far down the funnel the user is CFD - Lots of upper funnel activity across all channels, promote the app via Google Ads app campaigns, FB app install campaigns and apple search ads. Any advice would be appreciated.
“Hey, gold, what are you doing over there at $1470? You are supposed to aim at $1900 – we are in a crisis here!” – that’s your righteous question to the precious metal. Although it did show an elevated trajectory for a while until recently, none of that seems “worthy” of the severity of the moment. Gold, monthly chart Especially, if you zoom in and see the most recent move of the shining metal. By falling to the support of $1450, it completely erased all the coronavirus-related gains and got back to where it was at the end of the year 2019. Then, the US and China seized tariff fire and eventually announced that they were finally closing the theater of trade war and were on the way to sign the trade agreement. That was promising peace and prosperity to the nations, and the year was ending well, full of moderately optimistic expectations for 2020. Not for gold though. “Well”, - gold thought – “there is no place for me in such a confident and economically expanding riskless world”. Eventually, its price gave room to the calmness of the market and continued its usual trajectory of mildly gaining value. Gold, daily chart The interesting thing is that when the virus came – that is marked by the red vertical line – gold did not change its trajectory. If you remove the last move it did - that brick-like drop from $1700 to $1450 – and ignore that the virus is now reigning the globe, you would have little ground to suspect that something unusual is happening in the world. At least, from gold’s point of view: according to the chart, it didn’t seem to worry about states bent into recession and tens of thousands sick or dead. Not more than before that, at least. The curve of the price performance did not change before and after the outbreak – the straight green line confirms that. Visually, until the second half of February, when China was in flames of the coronavirus, gold felt exactly like it did in December when the US and China were cheerful of each other’s commitments to the trade deal. And there is another interesting thing – the very last episode of gold price performance. The said drop. It is absolutely extraordinary because it is – in theory – supposed to be reversed. A millennia-long-living asset bringing joy to the eye of its owner, gold normally gets multiplied attention from investors seeking to secure and guard their funds when troubles kick in. Now, it is all the contrary: it plunges like a fraudulent security of a third-grade bank. What’s happening?
First, a very superficial but a very fair conclusion is: gold is not a “yes-sir” safe-haven commodity and does not react to the world of events as such. Nor does it react “on time”. Therefore, second, it is not as predictable as, say, oil prices are in their response to the KSA-Russia oil price stalemate. Does it mean that gold should be disregarded as a refuge to the money of scared investors? No. But we have to delineate gold as a physical asset owned by individuals and organizations and guarded in, say, Fort Knox and gold traded in multiple market platforms as a virtual asset through, including, derivatives such as CFDs. It is exactly the latter that we have in Forex. And these, although they do have a correlation to the price of the physical gold nuggets traded across the world, are largely affected by speculations and price manipulations, whatever they may be. That’s why you cannot rely on gold 100% as on a safe haven all the time in your trade. You have to weigh it against other assets, measure its reaction to the events and elaborate your judgment about it. The general guidelines are there – gold rises in the times of crises – but that alone is not enough to make successful trades. You need tactical information on its movement and tactical levels to watch. And its recent drop from $1700 to $1450 is another justification for that. If you bought gold even at the lows of $1600 expecting it to reverse upward on the spooked market mood, you would lose your funds by the current moment. So again, what’s happening?
Red pill #2
First, you have to factor-in market unpredictability into your general trading methodology. More precisely, you have to factor-in the fact the sometimes you will see prices move the way you cannot predict and do not understand. And that has nothing to do with available information: in hindsight, you can explain almost any phenomenon on the Forex market, regardless of your level of situational awareness. For example, how can we explain the recent performance of the gold price? Observers’ opinions vary from blunt references to omnipresent panic that nullifies the safe-haven immunity of gold to sophisticated schemes that advocate selling off this metal to suppress its automatically increasing equity share fueled by other assets’ reduction. While both may be relevant, for you that means one honest confession cited by Bloomberg after US Fed’s failure to make markets happy by the rate cut: "The traditional rules are out of order and there is nothing which can be classified as a safe haven – not even gold". Note: this “even” underlines that fundamentally, gold has an undisputed recognition as a reserve asset, but at the moment, it does not function as it normally would.
Steel started gaining value as it seems to be a “newly-founded” safe-haven asset as seen from the perspective of the Chinese market. But we are not suggesting you piling up steel rods in your backyard. The suggestion is: be flexible. Treat gold as your usual currency pair. Don’t take it for granted that it is “supposed” to rise in bad times. It is not, as you have already learned. Not always, at least. And one apparently cannot really know when it follows the default rule, and when it doesn’t. But one can always apply the same rules of observation and market interpretation which are applied to the rest of the Forex market. Follow the trend, reinforce it with fundamentals. If these don’t work, go technical. Once you have indications for upward reversal – buy. Once you have a downward move anticipated – short. Currently, from a purely technical perspective, a short-term upward correction is likely to happen because there is no fundamental reason to press on for a non-stop plunge while the Awesome Oscillator and the hesitation at the current level of $1470 indicate an upward-sideways mood.
Blue pill #2
No pain no gain. But as Warren Buffet said, Mr. Market doesn’t force you to trade. If you feel like you are confident to do it, you are welcome – you have all the instruments, and FBS is all but available to help you. If not – come any other minute, hour or day – he will always be glad to serve you with opportunities to make profits.
However, keep in mind that Mr. Market, although happy to serve you endless chances of benefit, doesn’t decide when the next coronavirus comes. Therefore, don’t lose your chance to use this once-in-a-decade strike of nature to your financial advantage.
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