Own Up All Spreadbettors Making £1K to £2K per Month at £1 to £2 per Point

[oatman]

If they're not making it, maybe they should try the course after all

 

[Henry]

Hate to say this, but this is rather depressing - nobody is making 1K - 2K ? Or it just that nobody's making that on a £1 stake?

Might as well give it up if no one's making 1K - 2K regardless of stake fullstop.

The trouble with making any sort of claims on this board as to how much one is making from trading, as others have found, is that people are so quick to say they cant be true. Apart from which, I guess many people wouldn't want to talk about how much they earn anyway.

Just because nobody has replied to say they specifically make this amount spreadbetting, I wouldnt take that to mean it isnt being done.

Just my 2 centimes worth

H.

 

[bonsai]

can I point out that uk futures trade at £10 per point ! -minimum.

 

[Ghost Dog]

I have a small CMC account that I opened a fair while ago, and made all the usual mistakes. I was 40% down, and got it back into profit by being disiplined, so I don't agree that you can't make the losses back.

I'd be the first to admit that I had some luck, in that I caught some good moves, but then again at the start I made some appalling mistakes. And isn't cutting the losses and catching big moves what it's all about when it comes to sb's?

The trouble is now that after trading futures, the stakes seem so small that when using it I'm tempted to over stake, and I can see how people can run into trouble.

Trying to close a £50 per full point S&P bet the other week when one of those dud trades went through on the mini-dow is not an experience I want to repeat...

 

[Finlayson]

I believe the initial thread query was to any people making £1-2K p/month on £1-2 stake, 1 hours work with a SB account..... not to find out what people were making personally in their trading career.

whether u r suited to SB or broker surely depends on your trading style, strategy & personnel choice

Bildonone :

Finspreads r ok but there r better, u can start real small with Fins to get some grounding........once u have some of this u will start to figure out what your trading style might be...........then u can figure out what will suit u

your success will be down to u & your strategy at the end of the day

 

[stoploss please]

Tradindex have virtual accounts were you can practice strategy without losing your hard earned money. However, you have to convince yourself that the virtual money is real otherwise you lose some of the edge.

 

[Felix]

I see that nobody has come forward and said they can make this kind on money even though there are over 4000 members. Someone said that people wouldn’t want others to know how much they earn but to not get a single person saying it can be done doesn’t look good does it.

Felix

 

[Finlayson]

Felix

r u now refering back to the original question of £2k 0n a £1-2 stake or searching for confirmation of possible earnings from trading as a career. ??

 

[spreadbet]

To make that £1000pm from £2 - £3 bets for one hours work per day is not feasible unless the market is in a massive impulsive move and the trade is a swing trade. Even then the chances are remote as this would require a move of over 500pts + spread at £2 per point if trading the Dow Index. As we are all aware this just does not happen month on month.

If this money is to be made from trading individual stocks then that requires more than one hour per day analysis.

Cheers

spreadbet

 

[Felix]

Jayge

I don’t doubt you can make a living by Spreadbetting but not as was said above.


Felix

 

[Finlayson]

Fair Play Felix,

yes I agree u would have to be pretty sharp to achieve these sort of results, not saying it is impossible, but on a consistent basis would be difficult indeed.

jay

 

[CityTrader]

Felix, I don't believe it's possible to make that sort of money from those stakes. I'm sure a lot of people on here make way in excess of that from spreadbetting, but from stakes of significantly higher magnitude.

Wayno

 

[ChartMan]

The DOW has given up a relatively "easy" 500+ points this week and 200 ish for each of the 3 weeks before that.
That equates to 100 or so S&P500 points.

 

[bonsai]

So ?
and somebody else no doubt could pick out periods
where this hasn't happened ?

I think this thread has probably run its course ?

 

[briar]

As for me I'm more confused than ever. Think I will forget
spread betting & stick to trading shares.

 

[FTSE Beater]

Claims are being made that for just 1 hours work a day it is relatively easy to make £1000 to £2000 per month using a spreadbetting company at just £1 to £2 per point. In my view it is difficult enough to do this if you were allowed to use direct access trading at £1 per point which you cannot do as the cheapest is $5 on the Dow Mini.

But I am very interested to know of anyone who does this and if so how they do it


Felix

Hi all

I know I'm late to this thread

I can honestly hold my hands up and say that I've made £1000+ spreadbetting and on £1 stake size. If you believe me or not is another matter. - However, I did not manage to maintain it (money management issues )

Have a look at the trades that Mr.Charts takes. Trading for about 2 hours (so obviously a different strategy) and regularly taking 50+ points from the markets. Admittedly Mr.Charts uses direct-access account, so we can decrease his earnings by 5 points (for spreads on US Stocks). That still leaves a nice profit.

As we're only talking 50 points a day, that can be done on 2 or more trades and also trading more than one instrument. How many times has the FTSE moved with the Dow? If the dow goes down 50 points on Open, the FTSE will fall about 25, so that's 75 points or £75 right there.

In order to take £1000 a month from the markets, spreadbetting you have to be a good trader, and as someone has mentioned - a good trader rarely spreadbets for long as they move onto more productive trading platforms.

Just my thoughts

 

[Oldun]

I can honestly hold my hands up and say that I've made £1000+ spreadbetting and on £1 stake size. If you believe me or not is another matter. - However, I did not manage to maintain it (money management issues

FTSE Beater

Thanks for the words of encouragement.

Are you the same FTSE Beater whose journal contains the following testimonial to your own sucess(30/3/2003)?

Well, after 10 months of trading, it's back to work again - doing the 9 to 5 (well for a couple of weeks at least). In the 10 months I've been full-time trading I've been on a very steep learning curve, and once I've saved up a few pennies I'll be trading again - with a much better idea of what full-time trading is all about.

Sorry to sound mildly sceptical.

 

[spreadbet]

a good trader rarely spreadbets for long as they move onto more productive trading platforms.


I guess this quote means any long term spreadbetter is not a good trader.

There are only two reasons I stick with spreadbetting.

1) I can select the size of bet to suit my perception of the market at any given time. However I acknowledge I can do similar on the futures market by regulating the number of contracts I buy.

2) This to me is the most important issue and is perhaps a demon from the past I should overcome. As we all know I in 87 the market took a nosedive big time. Fortunately I was on the right side of the market and made money. I was on the right side of the market by 40 minutes. Friends of mine were not so lucky and lost large amounts, one friend lost £1.2 million and has never recovered and never will. Anybody considering writing naked should at this point contemplate upon the wisdom of their strategy.

So to get to the point with spreadbetting I can place a guaranteed stop loss, in the futures market there is no guarantee, I even place stops on intraday bets and indeed this may seem somewhat belt and braces given I am sitting at the screen but it ensures my money management is firmly in place and also removes a psychological fear carried since 87.

Good trading is good trading irrespective of the traders preferred instrument.

Bet you all thought I would say tax free, on this issue I am not sure which instrument is the better given the high cost of spreadbetting.


Cheers

spreadbet

 

[Trader333]

FTSE Beater,

I dont think that the point of this thread was whether anyone had been able to achieve this as a one off but was more whether it is possible with 1 hours work a day by a beginner on a consistent basis.

Chartman has already indicated that the Dow has given up an easy 500 and 200 point gain in recent times. So far you are the only one who has said they have done it, albeit not consistenly.

That said I take on board the point you made that it may well be possible using the methods and techniques advocated by Mr Charts but this was not included as a condition in the original claims.

Cheers


Paul

 

[CityTrader]

Spreadbet - have a (time) formula, that shows me at which point, for an inidividual equity, I would be better off trading CFD's rather than Spreadbetting. - obvioulsy CFD's have a lower "in" cost" but have the negative of tax at 40% - but a spreadbet rolled on a weekly basis a few times- soon becomes more expensive than the cfd.


Wayno