Spread Betting the Dow

[mombasa]

Have you read Chartman's current Daytrading the DOW series, right from the begining?

Suggest you take timeout and start with that. I did that a month ago and have learnt lots - and am still learning. The other important thing is start trading with a very small stake - CM suggest 0.1% of your capital, eg £1 for every £1000. I'm more cautious and have started with 10p a point.

Started real trading 2 weeks ago with Fins and am currently down - no big deal because my capital is protected by 10p a point dealing. The main thing is, I'm learning from my mistakes - I know exactly where I went wrong (thanks to CM and all the others who replied to my postings).

As Skim says, the goal is to be consistent - think about points not pounds - then u can be comfy about raising your stake. minimising your losses is the biggest challenge.

Well, I hope I can succeed one day with what I've learnt on T2W.

Cheers

 

[Skimbleshanks]

hi rudolf, and welcome to T2W

Nice post - it's good for others to be able to see a comparison between SB companies.

 

[grubs50]

Is it possible to SB the DOW with a stop loss of 20 points as suggested by Bonsai without getting wiped out considering the volaitility of the DOW? or does he mean just 4 intraday trading?.

 

[wysinawyg]

It'd be pretty hard to think of a reasonable EoD strategy that could use a 20pt stop if that's what you're talking about. About the only viable thing I can think of would be buying/selling pull-backs to support/resistance with a limit to get you in within 10pts of the s/r and a stop to get you out 10pts on the other side.

Basically you have to pick bottoms (or tops) which is, as they say, for monkeys.

wysi

 

[bonsai]

grubs
I never suggested any such stop loss.

and wouldnt.

 

[grubs50]

sorry Bonsai, i have just realised it was bottomdollar and not u

 

[sos]

pls can you guide me to any books using your trading technique

 

[bansir]

pls can you guide me to any books using your trading technique

Hi SOS,
I recommend you have a browse through T2W books section.
Depending on your experience and aspirations etc.you should be able to filter out a few useful titles.
If you're looking at Technical Analysis, I can recommend John Murphy's "Technical Analysis of the Financial Markets". I also like Alexander Elder's book "Come into my trading room". Have a look at the "getting Started" section in the books on T2W. The books + articles are all in the K.Lab tab at the top of the browser window.
Cheers,
Neil

 

[Vorbis]

Is anyone using Cantors and if so, what are they like.

I've had an account with them for a couple of years, but don't use them much now.

Their spreads are poor, the interface is good, the charts are OK. Customer service is not great (They ignored all the E-mails I sent with enquiries).

The main reason I don't like to use them is that they will not let you move your stop less close to your bets current price. This makes it impossible to protect your profits (I trade fairly long term compared with most).

They also have an irritating habit of making equities go "phone only". If you have a bet open when they do this, they prevent you from moving your stop loss as well. So, again, you can't protect your profits.

 

[philhackett]

Tell me more please. Is this based upon Market Matrix?

DATE: 29th April 2006 - 7.44pm





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