Remember my post about Greg Coffey and his stonking £145 million salary? Ever wanted to become a hedge fund trader?

Well, now you can, apply for the opportunity to get trained by a top hedge fund trader and then trade their money and take a cut of the profits. You don’t have to pay anything at all and it could be the start of a fantastic career.

By now, you’re thinking… hmm, what’s the catch! Well, depending on the type of person you are, they are planning to film a documentary on the BBC for these traders. I guess it’s going to be a bit like the Apprentice on TV except about traders.

To read more, go to the website:

http://www.benedix.co.uk/hedgefundmanager.php

As I write, there are only 4 more days before this opportunity passes you by!

Tags: bbc documentary, greg coffey, hedge fund, makemesomemoney, Trading, trading mentor, trading opportunity

I don’t usually buy shares as it’s buy and hold and sometimes you have to wait ages for it to move. I also think that shares are driven by fundamentals and news driven.. you just don’t know what a company may report!

My personality suits daytrading (though I’m not a Greg Coffey or Gordon Gecko) in skill, only ambition!

Anyway, about 2 months ago, I was looking at a share called Tower Resources and there was speculation that there were some large prospects there. I am not usually keen on buying shares for the reasons previously and also because I was one of the mugs who bought Marconi when it fell and fell and became nothing. I also bought some others losers in the dot bomb crash.

Well, I purchased the share at 3 pence and today, they announced that there was oil in their exploration areas and it peaked to 11.25 pence!! I put in just £1000 and at it’s peak today, it was worth just under £4000!!

I personally think there is more upside to come, if you do the maths they announced that they reckon that there could be 10 billion barrels of oil. They have a 15% interest meaning that they have just over a billion barrels for themselves. I’m going to take a billion as you’ll expect costs involved in getting the stuff out of the ground.

The current oil price is around $120 a barrel, we’ll use $100 as a lower end estimation which means that there is $100 billion of dollar signs sitting there.. that’s £50 billion of profits!

I’ve just look through my maths again as I can’t believe this is correct. The company’s current market cap is a mere £60 million (not billion) meaning the assets are 83 times cheaper than they should be!!

Hmm… I still think there is something wrong here as £50 billion sounds a bit too much… but I can’t work it out! Anyone care to see where I’ve gone wrong if I have? If not, then surely this must be the buy of the century?

Anyway, have a look at the chart today and the stonking 266.67% increase today!

Tags: billion barrels, buy and hold, fundamentals, gordon gecko, greg coffey, makemesomemoney, oil price, shares, technical analysis, tower resources, uganda oil

I haven’t heard anything from my trading academy despite me leaving numerous messages with them to call me. I have a deadline of the end of this month to bring my account to the black.

Anyway, I started my trading with a loss, -5 when I shorted at 140225 with a stop at 140400. As the market moved down, I moved my stop down to the previous swing high (bad mistake) and I got stopped out for -5. If I hadn’t been stopped out, I would have been ok.

Anyway, I entered again when the market went to 140225. This time the market did go my way and I closed at 139975 for +10.

My total for the day was +5.

It was a winning day but my winning days are relatively low and my losses are high..  I wish I was like Greg Coffey of GLG (I wrote about him yesterday)…  he probably made £600k today (if you consider he made £150 million in a year).

Tags: daytrade, daytrading, emini, futures, glg, greg coffey, investing, live account, makemesomemoney, s&p, standard and poor, tca, technical analysis, Trading, trading academy, trading blog, trading mistakes, trading psychology, trendline