Spreadbetting the FTSE100 - Made Simple (Not Mentally)

pboyles said:
I think the edge will work but the spread will always increase losers and decrease winners, especially if, like me, you have trouble holding onto trades. I would have been out of all those trades with 5 to 10 ticks so for me spread would make a huge difference, not to mention all the other potential pitfalls of SBing. In particular some of my trades might only have a 3 or 4 tick stop, I think that's asking for trouble when SBing.
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Lifetime of learning to get exits right...if ever...No debate that there's a 10-15% 'tw@t factor' when s-betting versus other methods, measured over a long series of trades that can be quite a pill, adding that to the fact that their platforms aren't..ahem..designed to cope with playing off lower TFs and it can make a difference..But I just reckon it's a good place to start, even better place to start would trading EU at 2 pip spread given it's volume etc..but often folk can find the world of forex scary at first and want to trade that thing they see in/on the news all the time...
 
vchohan said:
On GStrader are you able to put trailing stop that follow to the pip?
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Dont know never use them and its not immediately apparent from the platform that they do, ask Global, if GS doesnt have it some of their other platforms may.
 
Right, so today I've missed two trades as I was otherwise occupied, which is totally my fault, and they were two winning trades one for 9.5points this morning and the other for 5points. Feel a bit gutted that after the losses I've had I missed the opportunity I was supposed to take to begin covering the losses.

Well let's just see if other opportunities arise and if I can take advantage of them!
 
Spreadbetting the FTSE100 - Made Simple (Not Mentally)...you gonna re-name the thread then, or stick to your plan??? ;)
 
Lol I haven't made up my mind as yet.

I did want to ask for some advice though. I truly want to be a day trader but the fact in the matter is I don't really and truly have the time to do it as I need the income every month to support myself (bills etc) and I know it will take me a good 6 months to become anywhere near decent, so I think.

I was thinking maybe I should be a different type of trader instead of a day trader. I like the idea of futures trading as the spread betting companies can screw around with the prices from time to time. Probably in my retirement days I may become a day trader or if I make it rich, who knows, but I need to go to work, and either need to trade in the evenings (US Markets) or place orders once markets in the EU are closed. I think I would prefer trading the EU markets as after work I don't want to spend another 4 hours or so trading the US markets. I would love to do an hour to two hours of analysis and make entry or exit decisions.

I will continue these two weeks as I am but will also be looking at some things you guys can recommend or help me with.

So, here goes, give us your two pounds worth....
 
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vchohan said:
Lol I haven't made up my mind as yet.

I did want to ask for some advice though. I truly want to be a day trader but the fact in the matter is I don't really and truly have the time to do it as I need the income every month to support myself (bills etc) and I know it will take me a good 6 months to become anywhere near decent, so I think.

I was thinking maybe I should be a different type of trader instead of a day trader. I like the idea of futures trading as the spread betting companies can screw around with the prices from time to time. Probably in my retirement days I may become a day trader or if i make it right, who knows, but I need to go to work, and either need to trade in the evenings (US Markets) or place orders once markets in the EU are closed. I think I would prefer trading the EU markets as after work I don't want to spend another 4 hours or so trading. I would love to do an hour to two hours or analysis and make entry or exit decisions.

I will continue these two weeks as I am but will also be looking at some things you guys can recommend or help me with.

So, here goes, give us your two pounds worth....
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I can suggest what I do, since I have a day job. I trade medium term equities (6-8 week trades on average). I place perhaps 5-6 trades a month, buying the dips sort of market timing etc.. Takes very little of my time, and I simply check trades end of day. So far this year doing quite well, account up 33%. The beauty of longer time frames is it is "alot" less risky than day trading.
That's my £2 worth...
 
Thanks leonarda, do you have a thread on here where you strategy is shown or some of your trades or anything of the sort. I'd be very interested to see what your strategy is and how you find the stocks you trade, what markets you trade? How did you learn to trade medium term? Any links, websites?
 
vchohan said:
Thanks leonarda, do you have a thread on here where you strategy is shown or some of your trades or anything of the sort. I'd be very interested to see what your strategy is and how you find the stocks you trade, what markets you trade? How did you learn to trade medium term? Any links, websites?
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I don't have any journals etc... don't have that much time..!
Re.Strategy, I would say, and you'll hear this alot on here, that you must learn your own strategy based on experience and learning, i'm still doing that myself...
But, the basics of what I find works for me:
- I use a market breadth/stochastic to determine a good time to go long or short, typically buying dips in market sort of thing, as well as market sentiment (read www.marketwatch.com, www.cnbc.com, etc...)
- Select stocks based on fundamental analysis and TA to work out stop/target with a worthwhile risk/reward (target typically 15%, stop -5%). So usually buying at support on a market dip etc.. I use www.advfn.com for fundamental analysis
- I found the Naked Trader book a good read, as he works on this sort of timescale

good luck
 
hmmm....In your position I'd swing trade one currency pair, take trades off 3/4 hr TFs, you'll need a bigger stop than you're used to...much bigger, and you have to trust in your edge.. I'd go with EU, you can check it every couple of hours discreetly without distraction/inteference with your day job. How you enter/exit? Well a combo of what you're currently using should work well off 4hr TFs..
 
Risk is what you define it to be. Hmm so currency pairs EurUSD. Do you say that as it runs through the night and I can pretty much check it anytime? Are there periods like through the night the market is closed or do currency pairs go on and on? (May sound vague but currency pairs are vague to me).

I'm looking at the chart but my strategy I think needs to be changed. I mean what am I looking at for a stop loss on a 4hr chart?
 
Jack Hughes said:
Not so sure about that, but I suppose it depends what you mean by 'risky'.
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What I mean for example is a bet on a quality stock with good fundamentals in a run up to earnings, that is currently moving up from support, going up over the next 2 months, is an easier bet than betting on which way the FTSE is going to go over the next hour...

The word "alot" was probably over doing it !
 
I've had a couple of nasty FT constituents. The last one was some time ago, DMGT ( I think that was the Epic). It was about to dispose of its free press arm and the shares, I thought, were going higher.

It changed its mind overnight and the shares gapped down at the open. News is, often, released after the exchange closes and if you have the wrong one, hard luck! That one went down 80 odd points if I remember correctly.
 
Splitlink said:
I've had a couple of nasty FT constituents. The last one was some time ago, DMGT ( I think that was the Epic). It was about to dispose of its free press arm and the shares, I thought, were going higher.

It changed its mind overnight and the shares gapped down at the open. News is, often, released after the exchange closes and if you have the wrong one, hard luck! That one went down 80 odd points if I remember correctly.
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yep, s**t happens, you have some losers and you close them out, but more often you get some great winners, i've had some 30% gainers over 3 months this year. But as I said this is just what I am confortable with. Everyone to their own.
 
Right, So I had my first trade of the day come up and hesitated to pull the trigger. Guess what though, it was a winner and still is. It would have locked in 9points.

That's what losses do to you!
 
Just made my first trade of the day which was meant to be the second, however took in 4.5points. Good execution this time and good trade management.
 
One thing I have noticed is that, monetary value plays a large part in a person's ability to trade without emotion. Knowing how much you have or haven't got, lost or won does bring about fear and greed. I can honestly say a strategy that is followed to exactly how it is supposed to, eliminates a large portion of emotions.

Having 3 or 4 losses in a row with a strategy you follow is much better than trading and winning without one, you will end up losing. (My £2s worth).
 
vchohan said:
Just made my first trade of the day which was meant to be the second, however took in 4.5points. Good execution this time and good trade management.
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5125 on the futures is weekly pivot, resistance at 5122 and 5123 as well but we are right near the US cash open.
 
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