any successful spread betters here?

[andrewmooton]

Hi there,

Its my first post here and i'm a newbie to trading.

This is a great site, it's exactly what i've been looking for.

Anyway, I was wondering if there is anyone here who considers themselves to be a successful spread better. By successful I mean makes a decent living from it.

My aim is to make about £12000pa so that I can go back to Thailand and spread bet from there and live like a king.

Could anyone tell me if it is possible or realistic to earn this much money from SB in a year?

Perhaps you could disclose some good strategies for a newbie to follow.

Thanks.

 

[FetteredChinos]

id be careful about moving to thailand and continuing to spreadbet. the old tax authorities will come down on you like a ton of lard.

£12000 is a piece of **** to earn in a year, it all depends on your account size.

if you have £20,000 then its fairly reasonable. anything less and you could be struggling. especially starting out. if you have £200,000 , then it shouldnt be too much trouble at all.

have a look at the strategies and systems board on this site. plenty of good work there, and discussion/modification of the existing methods.

good luck, and welcome aboard

fc

 

[andrewmooton]

I recently bought a book from a guy who reckons he makes £680 per week from SB with an account size of 2K.

Do you reckon this is true or BS?

I'll have a look at those boards but do ya reckon you could recommend me a good one for a noob to start with as the information here is a bit overwhelming.

Any good SB strategies would be welcome be it for day trading the dow or whatever.

 

[andrewmooton]

He reckons he makes 70 points per week btw.

Is this achievable or is it BS?

 

[TheBramble]

I recently bought a book from a guy who reckons he makes £680 per week from SB with an account size of 2K.

Do you reckon this is true or BS?

I'll have a look at those boards but do ya reckon you could recommend me a good one for a noob to start with as the information here is a bit overwhelming.

Any good SB strategies would be welcome be it for day trading the dow or whatever.

So what you're looking for then is a quick, no education or effort required, freebie system that will guarantee you £12K/year while you lie back on the beach, under the palm trees getting a massage?

Joking aside, I don't think you're going to quite do it that way. You really do need to put in the hours until all the stuff on this site isn't overwhelming (haven't managed in myself yet) and have traded your own system with the discipline, confidence and focus required to yield a consistent profit with low drawdown and one that that suits your psychological profile and lifestyle to the point where it's not effort - but fun to trade.

This probably hasn't helped you in your immediate quest, but that one's a non-starter anyway.

I hope it helps you in the longer run.

 

[olwenh]

Bramble is right, unfortunately there are no shortcuts. Looking for shortcuts is the fastest way to lose money. Take it from those who've already been there. The markets are brutal and they are out to deceive you.

as an aside, if this guy does so well, why don't you ask him his method? And don't forget to share it with us - I'd be interested.

Good luck, but be careful.

 

[andrewmooton]

He says he uses the camarilla equation which he sent to me. I can share it with you if you'd like but it doesn't seem to work.

He also says he uses head and shoulders patterns.

Thanks for the replies btw.

Perhaps its too much to ask for a complete strategy to be handed to me on a plate but if there are any people here who do make money from SB i'd REALLY love to know how they do it.

 

[FetteredChinos]

andrew, if you have really, really deep pockets then you could do something along these lines. it may take ages for it to work, but if you have enough capital it shouldnt fail.

on the 1st of every month, buy £1 a point of the FTSE or the DOW or both.

repeat every month until you are either wealthy beyond your wildest dreams or broke, or both!

super long term trend of the indices is up. so if you have enough capital to meet the margin calls, you should be ok.

of course its a really dull strategy, and requires deep, deep pockets, especially in a bear market. but if you have a spare £50k, it could be a winner...

 

[Mr Chill]

He says he uses the camarilla equation which he sent to me. I can share it with you if you'd like but it doesn't seem to work.

He also says he uses head and shoulders patterns.

Thanks for the replies btw.

Perhaps its too much to ask for a complete strategy to be handed to me on a plate but if there are any people here who do make money from SB i'd REALLY love to know how they do it.

You want short time or long time up to you :cheesy:

 

[andrewmooton]

Very funny guys!

I'm afraid I dont have that much cash FC, i've only got 500 quid set aside to start Sbing.

 

[TheBramble]

£500 isn't a feasible amount to start trading with - sub-£ SB or not.

Are you working at the moment or just planning the next trip to SE Asia?

If you're working - save until you've got at least £5K.

Use your spare time (you'll have plenty because you wont be going out a lot) to study the various systems and issues discussed here on t2w and elsewhere.

Start paper trading your system - whichever one(s) you end up feeling comfortable with for at least 6 months.

Tentatively start trading with no more than £25 risk per trade until your actual trading results mirror your paper trade results.

By which time your capital should be increasing nicely and you can afford to increase your risk up to 1% of your total available trading capital.

If you're looking for a real easy system - try heads/tails. Heads - it goes up; Tails - it goes down. Choose any instrument to trade. Any trade that goes against you by your max risk - you exit. Any trade that goes with you - stay with it and exit when it goes against you by your max risk locking in the profit you've made.

I'm not suggesting you actually trade that system with your £500 - but as as a starter into market observation and price movement. You're obviously itching to get started - this might help you.

 

[adrianallen99]

Maybe look at Fixed odds betting with someone like betfair to start with. You can bet min of £2 per bet, which would be you maximum risk. Make sure you are watch real time charts and do some of the hourly bets. I found this a great way to learn a bit about the Indices (FTSE and DOW) using real cash, but only small risks.

If you manage to make decent money, then great, if not, you;ve probably learnt something anyway.

 

[JonnyT]

With £500 forget it.

You need £10,000 before you even think about it.

JonnyT

 

[Newtron Bomb]

andrew, if you have really, really deep pockets then you could do something along these lines. it may take ages for it to work, but if you have enough capital it shouldn't fail.

on the 1st of every month, buy £1 a point of the FTSE or the DOW or both.

repeat every month until you are either wealthy beyond your wildest dreams or broke, or both!

super long term trend of the indexes is up. so if you have enough capital to meet the margin calls, you should be ok.

of course its a really dull strategy, and requires deep, deep pockets, especially in a bear market. but if you have a spare £50k, it could be a winner...

FC
Very interesting
My no brainer swing strat is based on pirce rather than a time to buy or sell.

I think ive mentioned it inthe fx chat room (sorry not been in for while i know)

Basically choose a direction based on intermediate or longer term TA then start buying or selling at every round number. short term whips and draw downs will happen but its good for long term success and gives me the bread and butter of my trading without stressing over charts and totally mechanical.
Currently I'm using this type of strategy on Dow futures, Dax futures and cable (gbp/usd) I'm also trialling it on a uk stock with a view to rolling it out across a few others then to us stocks.

HTH

NB

 

[Mr Euro]

Use half of that 250£ and invest in a course, there are many around and if you want advice just ask.

At least you'll have a fighting chance of hanging on to the other 250.

 

[TheBramble]

Mr. Euro - what course for £250 have you found useful?

 

[Mr Euro]

Bramble, depends what you want to get out of it.

My recommendation would be to have a look at Global Markets for general material. It's run my Mike Boydell, who is a friend of mine (and I'm not punting his services in the slightest) but knows his way around the markets more than most.

If it's US specific then one could do far worse than to speak to Mr Charts.

I would only recommend people who are successful traders themselves. Sadly David Anderson passed away this week or he would be on the list too.

 

[TheBramble]

Sorry. I thought you meant that there was a specific course for £250 that you had found useful. I was just surprised at the low price tag.

Mr. Charts has a good reputation as a coach - but I don't think £250 will get you through the door.

 

[Naz]

Here is the link for US training at Mike Boydell's courses http://www.glomtc.com/nasdaq.htm

 

[jklondon]

I started with 1K last year and have doubled that year to date (not difficult you could argue given the upswing from last year).

So How ?

1) I manage the risk on all trades (i.e. set a stop and in some cases a limit price) and dont risk more than 5% of my measly Capital for a Type 1 Trade and 10% for a Type 2. These types are determined by the system I use.

2) I am right more often then I am wrong

So result is a healthy return. Although finding these conditions a bit difficult and have less time to devote to Trading as well...

Was thinking this morning , with all these fund management companies out there and the wealth and experience of people in this Boards - im sure if a few of us got our heads together we could start our own Fund. ...Just a pipe dream ..at this stage.