What seperates an FI noob from an FI veteran?



  • Hey gang, long time no chat..

    Let's cut to the chase. I have been trading here for 3 months now, and everything is growing steadily. I have holds like Poggerz, Kane, Bruno, Traore, and cheaper ones like Locatelli, Ekkelnkamp and Fred.
    However! Being a fly on the wall and reading about peoples experiences through the forum, I notice it is usually the same 5-6 guys illuminating the gold and coming with good feedback to the rest. Therefore!!!!

    What makes the veterans better than the noobs? How can us noobs become better traders!?

    (the veterans know who they are!)



  • @JonnyMcFunny experience and from that the ability to adapt to changes in trend before they happen.



  • According to official government guidance it should be a minimum of 2 metres of separation .



  • I think it all depends on your strategy early trend chasers usually do best imo as they’re able to get in and out flipping more players. I personally am a long term holder between 2-3 years holds unless a real bargain comes up I may switch about I’ll generally hold for a min of 2 years for longer term profits



  • @JonnyMcFunny with experience comes perspective, with perspective comes a cool head, with a cool head good decisions are made. It's like the world of work. When everything's ticking over smoothly it's easy, when the chips are down and plans are out of the window, that's when you cant put a price on experience



  • The levels of over trading.



  • Sleepless nights, wrinkles, overtrading too much, not getting in early enough, not getting out early enough.
    Then, trying to encourage people not to do exactly what you did as a 'newbie'.



  • Geese

    When i joined up i used to look longingly in through the window of our local butchers at the row of geese hanging from the meat hooks on the wall whilst vowing to myself that id make it good on here and one day be able to put a down payment on one of my very own.

    Not only did i manage to do that, after a few successful trades i was able to buy 3.

    Im led to believe that only ASP and a handful of other Whales have more than 3.

    Im also led to believe that it will be the only acceptable currency post COVID (That and Crouch shares)

    0_1588622212227_upload-a784eef6-2443-4445-82ae-c0ade6395d44



  • @JonnyMcFunny about 800k 💰



  • Hey Johnny, fuck the veterans!
    Noob or Veteran is irrelevant, profit margin is all you need to worry about and that doesn't have to directly relate to your length of time on the index.
    The noisiest traders arent always the most successful, some make much more with out ever posting about it. The person you hear alot from may make bad trade after bad trade, it's important you trust your instinct and are selective about what is useful info.
    The ability to learn and patience will help also, it's how quick you grasp a good understanding of the index. Alot of the most helpful contributors on the forum of course have been on FI for atleast a year but you still see plenty of rubbish from other longterm traders who don't seem to really understand. This obviously can be because some traders aren't very hands on and dip in and out and aren't really that bothered but like anything, the more time you put into FI the better chance you have of being successful 🤑.

    The fact that you keep tabs on the forum shows your giving yourself the best insight, it's an invaluable resource that I definitely know with out a doubt helps me to be a better trade!

    P.s sorry veterans only joking, the advice really is much appreciated👍! I'm just jealous I didnt get aboard when you did 😥😂



  • @JonnyMcFunny

    Only difference is the number of shit the bed moments you have been through, think Spud in Trainspotting. Global pandemic is nothing, last September was carnage!! Lose your shit, drop a few pounds, replace the bedding and come back leaner, meaner and cleaner.

    Welcome back you forum stalker, still not forgiven you for your profile picture!! And to think I thought you were a funny scientist!!



  • I'm a mid-termer (18 months), and I generally think I've been pretty successful (well over 100% ROI), but I'm also a terrible trader. But my secret is that I know that, and thus I don't trade - I make purchases and stick by them, and don't panic sell.

    OK I've missed a few peaks when I could have sold and locked in some value, but overall it's been a decent strategy. Along with having a wide spread of players (diversification), I let the dividends roll in, and when I decide to sell up I think I will have made a rather healthy profit. But where I've missed peaks, I've had belief in the product on lows - and I made a killing in March when the FOOTIE dropped and I dropped a lot more in. It was a stressful week or two, but the rewards were amazing.

    Definitely the common demoninator of people I've seen on social media who have not made money or those who's made loss tends to be overtrading or selling too soon.



  • Patients



  • @NewUser92251 said in What seperates an FI noob from an FI veteran?:

    Patients

    You might be getting the op mixed up with what separates a practising doctor from one that's been suspended.



  • @Lloyddavies Thanks for your insights! How do you scoop a bargain?? Any process in particular?



  • @Martyn-B I am also a spare time plumber, delivery guy, astronaut and firefighter.



  • @Black-wolf @MickTurbo @Martyn-B @Splurger_Dan @kristiang85

    Thanks for your replies gang!

    Here is the shortlist of how to be succesful, according to the replies:

    1. Decide on your strategy, Long term vs Short term
    2. Do your homework and follow trends (Any addition to how this can be done better?)
    3. Remain calm with your trading, don't overtrade and flip only on sound reasoning/backing (should one set a specific peak to sell at or timeframe?)
    4. Adapt to situations when plans are ruined (factors influencing the value of the hold, sell?)

    I added some more questions, as with any good answer more questions usually follows.



  • @JonnyMcFunny Strategy doesn't' have to be a binary choice. You can have short and long holds, IPD flippers, youth punts and never gonna happen Goalie holds. All at the same time



  • @JonnyMcFunny as for the setting of specific peaks, sometimes I do and sometimes I dont. Recently I've started looking at certain players with a sell price in mind but that price is wholly arbitrary and another trader might think I'm under rating a player whilst others might look at my target price and snigger no chance. I think they are realistic. The first time I did this was probably with Fred. I set a arbitrary price target of £1.70 and he did hit it and I did then sell, although I'm back on him now because the 1 name thing gives him a shot at media whenever hes done or said something news worthy. Hes won me about another 9p since getting back on.
    If I've bought for long term dividends then my get out may be more time related than price related but if that time is closing in and the player is at something of a peak then logically the time to sell can be brought forward.



  • Reality, sentiment, foresight, real world football vs what could happen...
    Something like that.


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