Is anyone here a full time consistent spreadbetter?

[nkruger]

TraderAli,
Day trading with spreads is tough because the spread is usually wider than using direct access. That said, when I have the time and inclination I trade cable and some of the other forex crosses intraday. Yes I make money from it but day trading is too time consuming for me normally. I have lots better things to do...like watch the grass grow here in sunny Australia ;-)

AT

Hello Aussietrader, I have been reading some old threads of yours and am very interested in the book that you used to market (Sorry, cant seem to find the title of it now !!) Is this still available ? Also, can't seem to get onto your website. Hope you can reply.
Best wishes, Nick.

 

[taba]

i spread bet for a full time job
i for example have traded 57 times in the last month and brought home 24 k for that many trades
i use nothing but point and figure charts and this really works for me.

yeah ive made big losses in the past but not due to point and figure.its down to bad planning and gut feeling trades which i must say never pay off in the long run.

 

[CityTrader]

i spread bet for a full time job
i for example have traded 57 times in the last month and brought home 24 k for that many trades
i use nothing but point and figure charts and this really works for me.

yeah ive made big losses in the past but not due to point and figure.its down to bad planning and gut feeling trades which i must say never pay off in the long run.

Nice going. Great result, and in spite of all my sceptical remarks about charts in general, point and figure charts are about the only charts I'd ever consider. ( shame I can't get them on Proquote)

CT

 

[taba]

Nice going. Great result, and in spite of all my sceptical remarks about charts in general, point and figure charts are about the only charts I'd ever consider. ( shame I can't get them on Proquote)

CT

well id agree with you there.. ive tried just about everything out there and point and figure if you stick to the plan work very well.the only problem is you spend alot of time not doing anything which can cause gut trading.i use orders now all the time to cut this out and set mine 5 points away from the signal price.this helps stop pre ordering happening.

i only look for 2 to 5 points per trade because ive back tracked point and figure and ive found spread bet firms tend to swing there prices in wrong direction once you gone past 10 points on the signal.

 

[CityTrader]

well id agree with you there.. ive tried just about everything out there and point and figure if you stick to the plan work very well.the only problem is you spend alot of time not doing anything which can cause gut trading.i use orders now all the time to cut this out and set mine 5 points away from the signal price.this helps stop pre ordering happening.

i only look for 2 to 5 points per trade because ive back tracked point and figure and ive found spread bet firms tend to swing there prices in wrong direction once you gone past 10 points on the signal.

I rely on gut trading and instincts. For example I bought the FTSE futures this morning on reasoning that:-

1) Market had a **** couple of days end of last week, therefore due a bounce.
2) Most private schools go back this week, therefore a lot of PM's and Hedgey's will be back at work this week - most ready to buy the market.
3) article on back page of FT Fund management suplement - highlighting that bull markets run on longer than investors think .

But now I have the position, I could do with a point and figure chart to work out when to get out, rather than just thinking " fck it, it's lunch time ( or whatever) take a profit ( or loss) and one less thing to worry about!

 

[taba]

I rely on gut trading and instincts. For example I bought the FTSE futures this morning on reasoning that:-

1) Market had a **** couple of days end of last week, therefore due a bounce.
2) Most private schools go back this week, therefore a lot of PM's and Hedgey's will be back at work this week - most ready to buy the market.
3) article on back page of FT Fund management suplement - highlighting that bull markets run on longer than investors think .

But now I have the position, I could do with a point and figure chart to work out when to get out, rather than just thinking " fck it, it's lunch time ( or whatever) take a profit ( or loss) and one less thing to worry about!

well looking at point and figure i cant see any buy signal coming up for a long trade today.if anything a bounce back down of 6245 was on the cards which is what happened.

as1 min chart has gone through support and 5 and 15 are bouncing along it id sit on my hands today untill the market moved away from these lines a bit and gave me a gap to create a new sign..

i like your thinking on the gut bit but hasnt most peeps got there credit card statements in this week so they feel they need to earn that extra bit to pay them off?
the only thing im on today is gold for long.

 

[nkruger]

i spread bet for a full time job
i for example have traded 57 times in the last month and brought home 24 k for that many trades
i use nothing but point and figure charts and this really works for me.

yeah ive made big losses in the past but not due to point and figure.its down to bad planning and gut feeling trades which i must say never pay off in the long run.

Good morning Taba, interesting posting - which company do you use to spreadbet ? and do they play fair ??

I've not really used point & figure charts before ( I trade the Dow on news releases days) and I wonder whether you could point me towards any books/websites that I could peruse to get me up to speed on what looks like a potentially profitable idea......

Thanks in anticipation,

Nick

 

[taba]

hi

my tip is go look at the updata website.check out point and figure through them.i wouldnt use anything else now

i use cmc to spreadbet.there ok but dont get to big on the stakes as they soon play silly buggers with requotes andsuch.. also remember dont be short on tuesdays on ftse bets

 

[Priceman]

Here's some info on P&F charts, hope it's helpful...

http://stockcharts.com/help/doku.php?id=support:using_sharpcharts_point_and_figure_charts

 

[Jack o'Clubs]

Just noticed that the Global Investors bookshop is selling Plessis's P&F 'bible' at £20 off. Have previously balked at buying it as I have a 'lesser' P&F tome on my shelf, but may reconsider at £40. I need a new strategy to test anyway...

http://books.global-investor.com/books/21822.htm?ginPtrCode=00000&identifier=448c3d5fbcf587eed0448fda81198053

 

[nkruger]

hi

my tip is go look at the updata website.check out point and figure through them.i wouldnt use anything else now

i use cmc to spreadbet.there ok but dont get to big on the stakes as they soon play silly buggers with requotes andsuch.. also remember dont be short on tuesdays on ftse bets

Thank you Priceman & Jack o'Clubs, I'll have a look.

Taba, also thanks for the updata tip, I did meet the guy who runs that company years ago, David Somebodyorother, seemed to know his stuff, and they're still going, so that can't be bad then ? What's the 'Don't be short on the FTSE on Tuesdays' all about then ??

Nick

 

[Paulds11]

ORION, IIf one is to spread bet then swing trading I too believe is the only sensible way . I too have tried the short scalp intrday, even trying to use breakouts but the skulduggery of the firms in that mode is just too much, one cant argue with a week long trend and as such I think thats a good approach by you their. Hopefully you stay away from the "CASH" markets as these are weighted and actually fake markets.
Well done

Paul
---
These boards are rammed with employees of spreadbetting companies in disguise attempting to foil and discredit all complaints.. its ruining the legitimacy of t2w

 

[Battler]

Nice setup!

 

[vizatelli]

Could this work:

2 Spreadbet accounts, on one, open a long position for the DOW with a relevant stop-loss, on the second account open a short position on the DOW with yet again a relevant stop-loss.

If the average move is around 60 points then that should conver the loss of the first incorrect position and still make a small tidy profit? Has anyone tried this?

What a moron.