Best Thread How To Make Money Trading The Markets.
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Trevor2522
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How did you manage to whittle 9,000 available stocks down to 14?
Trevor2522
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Saxobank 9000+ CFDs (obviously mostly stocks)
Nasdaq 2709
NYSE 2308
FTSE 350
Nikkei 225
Hang Seng 306
Etc.
Trevor2522
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As in most things, it pays to specialise...
Naturally. However the esteemed Mr Charts uses data scanners to turn up prospective big movers on mostly Nasdaq stocks, rather than a few high-cap London shares.
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Mr. Charts
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This trade is a little different as the entry didn't follow a trend but a range.
I knew Janet Yellen was speaking to Congress at 1000 Eastern http://www.federalreserve.gov/newsevents/testimony/yellen20140507a.htm
and that she was taking questions afterwards.
I decided to watch the diamonds DIA which trades like a stock of the Dow 30 as that might respond if anything unexpected was said in the statement or the answers.
I didn't have to know what was said, just to see the market reaction and trade accordingly if the move was clear and obvious.
When it started waterfalling I jumped on board the falling candles for +43c per share.
It is always worth looking at ETFs like the diamonds at specific times when there is the possibility of a sudden move and jumping on the momentum if it happens.
I knew Janet Yellen was speaking to Congress at 1000 Eastern http://www.federalreserve.gov/newsevents/testimony/yellen20140507a.htm
and that she was taking questions afterwards.
I decided to watch the diamonds DIA which trades like a stock of the Dow 30 as that might respond if anything unexpected was said in the statement or the answers.
I didn't have to know what was said, just to see the market reaction and trade accordingly if the move was clear and obvious.
When it started waterfalling I jumped on board the falling candles for +43c per share.
It is always worth looking at ETFs like the diamonds at specific times when there is the possibility of a sudden move and jumping on the momentum if it happens.
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Spread-Bettor
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Hey guys, who amongst you has a good experience in trading only stocks with a Spread Betting or CFDs broker. I spent almost half an hour screening this thread and the opinions offered by Mr Charts and some others are really overwhelming. I would like to follow your lead but I would rather do it without paying tax
Mr. Charts
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WFM was on my pre-market watch list, but I didn't see it produce any of the dozen set ups I use and I traded other stocks as listed on my blog.
Hope you made good money from WFM
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SpreadDoctor
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Hey guys, who amongst you has a good experience in trading only stocks with a Spread Betting or CFDs broker. I spent almost half an hour screening this thread and the opinions offered by Mr Charts and some others are really overwhelming. I would like to follow your lead but I would rather do it without paying tax
I have had account with most CFD and spread bet providers in the last 15 years. I can tell you that Interactive Brokers is by far the best I have ever dealt with. Their CFD's are pretty much the same fills as if you traded the underlying, commissions are very low, financing and short costs also very low. For me the worse fills / spreads / financing / short charges offered by spread betting companies is not worth the headache. Sure you pay tax if you trade CFD's but once your income is large enough you can then take advice on how to minimise the tax bill by using different structures.
good luck.
lexcorp
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IB cfd's? Didn't even know they offered them.
What are the spreads like compared to the underlying symbol?
(UK CFD/spreadbet companies rip you off big time on the spreads making short term trading impossible)
Colmex have identical spreads etc to the underlying and would be very tempting if they were UK/US based/regulated)
What is the account requirement for IB cfd's, bearing in mind no PDT rule requirement of 25k.
thanks
What are the spreads like compared to the underlying symbol?
(UK CFD/spreadbet companies rip you off big time on the spreads making short term trading impossible)
Colmex have identical spreads etc to the underlying and would be very tempting if they were UK/US based/regulated)
What is the account requirement for IB cfd's, bearing in mind no PDT rule requirement of 25k.
thanks
SpreadDoctor
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oh yeah they have offered them for years and they are the go to place for pro traders and small funds, small hedgies/CTAs
spreads - there aren't any, you trade the underlying market price. You can even synthetically place you order into the book (add liquidity) as IB will automatically place a hedging order there for you. When they are hit you are hit. similar for other orders you can route the ECN how you want.
margins are typically 10% of underlying. as you say there is no PDT rule on CFDs. I think the account minimum is $10k.
https://individuals.interactivebrok...ding/pdfhighlights/PDF-CFDs.php?ib_entity=llc
You can trade pretty much anything from one account futures, stocks, FX, bonds, options underlying or synthetic. This I like as I have can have up to 20 market neutral positions on at any one time. :innocent:
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Trevor2522
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Sorry, not me, at least not yet. Sure, you get your tax pre-paid in the UK, but the spreads of 9-15 cents on stocks are rather punitive for Mr Stocks' style of scalping with 4c to 7c stop losses. As a direct-access trader, like Mr C, for which you need a $25,000 account, the spread is only 1 or 2 cents. With wider stops, spread-betting the Heikin-Ashi 3-minute chart, you have a chance on the swings. But how will you monitor 7,000 stocks?
Forex and indices are better-subscribed and thus offer more value to spread bettors. I was shocked at IG's crazy-high deposit requirements for stock trades!
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Mr. Charts
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You can trade and make money using any of my methods, for example the one on this thread, using CFDs.
As Trevor says, it's much harder with spread betting, but better to make money with either Direct Access or CFDs and pay tax than struggle with SB and only get the big moves.
You only need a few thousand dollars to get started and grow your trading capital.
As Trevor says, it's much harder with spread betting, but better to make money with either Direct Access or CFDs and pay tax than struggle with SB and only get the big moves.
You only need a few thousand dollars to get started and grow your trading capital.
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SpreadDoctor
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FYI
interactive brokers CFD's are DMA and commission starts at 0.5c per share for both stocks and CFDs.
$25k account is required for pattern day trade (PDT) rule. $10k account is required for CFD's which are not caught by PDT rules.
enjoy.
SpreadDoctor
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see commission link for interactive brokers:
https://individuals.interactivebrokers.com/en/index.php?f=commission&p=stocks2
https://individuals.interactivebrokers.com/en/index.php?f=commission&p=stocks2
Trevor2522
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For their faults, I prefer to stay below the tax radar with UK spread-betting companies -- for now.
$10,000 is still a fair chunk to find for those used to IG-Index-land!
https://www.interactivebrokers.com/en/?f=4969&ib_entity=uk
$10,000 is still a fair chunk to find for those used to IG-Index-land!
https://www.interactivebrokers.com/en/?f=4969&ib_entity=uk
Hi Trevor
I think many folk with not so massive trading accounts (or those that just hate paying tax period!) are happy to use SBs and 'swallow' the larger spreads and dodgier fills than you get with DMA trading for the benefits of SB trading.
I think the issue the OP was querying was the suitability of SB platforms to daytrade in the way Mr Charts suggests on this thread. It appears the consensus is that SB is not ideal for this type of daytrading.
