Best Thread Spreadbetting, the myths and what is the reality?

[shortsell]

i wouldn't quite say that Arabian.

if you position trading stocks, it's the best way to go regardless of size really.

it's also good for those not keen on trading full lot sizes.

and for those who only want sterling exposure on medium term positions.

and for people starting out.

it's not good for people who try and scrape 2 points out of the ftse on a one point spread and then cry when they get the wrong side of a move and get slipped in a market that traded 2 lots in 20 index points and then blame the bookie for slippage/stop hunting and so on.

but then anything other than a cash isa probably isn't good for those people.

 

[DashRiprock]

Nope, it's actually pity, you're a total fookin mess. I pop my head in here less and less but each time I can't get away from your drunken, irrelevant trollish ramblings. You need to clean yourself up a bit dude and your act is getting very stale. I know you have a couple of evangelical followers on here, you have a bit of a rep. but tbh you're a whopper. Oh and stop it with the PMs, told you long ago that if you weren't a mod/ connected with the site you'd have gone straight on ignore with the rest of your lightweight pussies..

shut up black swan you're just a tw@t.

look I mean there is nothing wrong with spreadbetting fx from your home.
nor is there nothing wrong with not being particularly good at it.
nor even painting yourself in the best light.

but when you are a tw@t to people that have less experience than you (a la TEC thread) AS WELL AS a tw@t to people with more experience than you (Arabian, me, paz, meanreversion, martinghoul, robster, hotch, Bramble... err can't think of any more off the top of my head but there are lots) then you need to sit down and have a cold hard think...


and ask yourself...


..."Am I a tw@t?"

 

[arabianights]

Got fook all to do with trading this son, everytime I come on here you make a childish snide remark, each and every time I make a post, how old are you ffs? Grow up Dave, quickly and clean yourself up and get yourself out the gutter. You make "a living out of this"? LOL, listen..to the gang of useless c11nts that pay any atttention to you you may be impressive, but you're no-one in your industry mate...and you and I fookin know it, remind us who your work for? Yep, you've really set the world on fire there son, LOL..

Now grab another tamazie, sit in a darkened room, neck another Stella and have a long hard think were it all went wrong..

What on earth are you talking about?

Actually, test: who do I work for?

 

[arabianights]

i wouldn't quite say that Arabian.

if you position trading stocks, it's the best way to go regardless of size really.

it's also good for those not keen on trading full lot sizes.

and for those who only want sterling exposure on medium term positions.

and for people starting out.

it's not good for people who try and scrape 2 points out of the ftse on a one point spread and then cry when they get the wrong side of a move and get slipped in a market that traded 2 lots in 20 index points and then blame the bookie for slippage/stop hunting and so on.

but then anything other than a cash isa probably isn't good for those people.

Yup - there's definitely specific situations where it makes sense... Indeed one need only look at how it came about (IG, iirc, stands for Invest in Gold) - the most relevant point (and it bears repeating) is that these situations are very unlikely to apply to the beginner trader... when it does, said person is probably in a position to afford a decent financial advisor and then won't be lurking here anyway....

 

[DashRiprock]

does anyone know if Black Swan is from Chesterfield?

 

[DashRiprock]

the only bad thing I can say about spreadbetting for people starting out is that it can incubate a "Me vs. Them" ideology which doesn't really help. As well, I think that actually one of the most imortant things to learn is how markets work, difference in order types, learning about how your broker/whatever deals with orders you give him, are your stops triggered by time and sales or quotes, do you want to put volume filters on them, yadda yadda yadda

but to a green eyen n00b the graphs are more interesting and so you end up not having a clue what actually happens on a transactional level. Not to say that it should be everyones style but end of the day its what you get filled at that counts.

 

[Pazienza]

does anyone know if Black Swan is from Chesterfield?

I thought it was t'other side o' Pennines lad. Chester way, not Chesterfield (ee oop bah gum).

By the way, how did I miss this thread? I haven't been doing my search for BS's BS, and so I missed some lulz .

 

[Pazienza]

There seems to be a general gist that professional traders wouldn't use a SB company and that DMA is the way to go, I've never tried DMA so I wouldn't know, I joined this site to find out peoples recommendations on it, I actually really enjoy SB and yes I have had all the usual problems but it just makes me more careful with stops and there isn't really much they can do if something keeps going your way but with all the rollover costs, wide spreads etc just curious as to whether trading by DMA would eliminate these? Also would like to know if there are any actual really successful spreadbetters? Has anyone made a million? Just knowing that someone had made it through SB would give me some hope.. ;-)

Personally, I'm happy with IG, although you're experience of SB will probably vary depending on how you trade. If you're shooting for 2 ticks on ES or NQ with a 2 tick stop SB is probably not the way to go .

If you want a broker recommendation, try IB. No originality prizes there, but they're good in my opinion.

 

[Pazienza]

Got fook all to do with trading this son, everytime I come on here you make a childish snide remark, each and every time I make a post, how old are you ffs? Grow up Dave, quickly and clean yourself up and get yourself out the gutter. You make "a living out of this"? LOL, listen..to the gang of useless c11nts that pay any atttention to you you may be impressive, but you're no-one in your industry mate...and you and I fookin know it, remind us who your work for? Yep, you've really set the world on fire there son, LOL..

Now grab another tamazie, sit in a darkened room, neck another Stella and have a long hard think were it all went wrong..

Seriously, what the f*ck is wrong with you these days? All lulz and opinions on trading ability aside, you used to come across as an OK bloke. Now you seem stuck in tw@t gear, with a d1ckhead turbo-boost.

 

[vaughanv]

I'll try and get this thread back on track...

Back in the mists of time when the Dead Sea was still alive, I opened an account with a SB firm whose offices are near Tower Hill.

They invited myself and other newbies to visit their offices. We even went on to the "trading floor".

I noticed one chap glued to a screen and having a very nervous body-language. I asked our host what he was doing. His reply struck me then and still does today, but for changing reasons as I age and gain experience.

"Oh, he's looking after an account who bets £10,000 a point on the S&P 500."

I tried to shimmy over to have a better look, but was guided away to rejoin the group.

Deduce from that what you want.

As aside, they also had a very large monitor visible across the floor showing what their total nett exposure was at that moment. At that instant in time it read £50.

 

[MasterOfTheUniverse]

I'll try and get this thread back on track...

Back in the mists of time when the Dead Sea was still alive, I opened an account with a SB firm whose offices are near Tower Hill.

They invited myself and other newbies to visit their offices. We even went on to the "trading floor".

I noticed one chap glued to a screen and having a very nervous body-language. I asked our host what he was doing. His reply struck me then and still does today, but for changing reasons as I age and gain experience.

"Oh, he's looking after an account who bets £10,000 a point on the S&P 500."

I tried to shimmy over to have a better look, but was guided away to rejoin the group.

Deduce from that what you want.

As aside, they also had a very large monitor visible across the floor showing what their total nett exposure was at that moment. At that instant in time it read £50.

I wonder what amount you need to be dealing with to get their attention.. I'd have thought there would be a lot of people trading with 10k per point, they can't have someone to monitor every single trader trading say over 10k a point??

 

[tar]

I wonder what amount you need to be dealing with to get their attention.. I'd have thought there would be a lot of people trading with 10k per point, they can't have someone to monitor every single trader trading say over 10k a point??

r u for real ?!

 

[MasterOfTheUniverse]

Yes, I don't see why you couldn't have 10k a point on really low volatile stock say with 100k+ account? Admittedly maybe not a lot of people would be doing that

 

[Pazienza]

I wonder what amount you need to be dealing with to get their attention.. I'd have thought there would be a lot of people trading with 10k per point, they can't have someone to monitor every single trader trading say over 10k a point??

If he's talking £10k per point on S&P futures (ES) that's the equivalent of about $16,000 today.

Assuming he does mean per point and not per tick(!), one ES contract is $50 per point. That punter is therefore trading the equivalent of over 300 contracts.

I don't think they have many punters trading that kind of size. If you're trading the equivalent of 300 underlying contracts, you're going to get noticed at an SB firm.

 

[Pazienza]

There have been some excellent set ups on ES recently. One near the start of the month was a classic PA set up that should easily have generated 12 pts.

Or £120,000.

Noticeable.

 

[anley]

The problem is with getting big and spread betting is they're either going to tag you as a mug punter and take much of the risk on board themselves, or they're going to lay your bets off but only after they've mimicked your trades AND put theirs on first. Either way it's better business for them than you.

Mind you, I'd do the same myself if I was in charge, as I think most of you would. Assuming that is you're in the business to make good cash that is.

 

[Pazienza]

(IG, iirc, stands for Invest in Gold)

Investors Gold Index

http://www.iggroup.com/corporate/ab_history.html?ct=ln

 

[stevespray]

The problem is with getting big and spread betting is they're either going to tag you as a mug punter and take much of the risk on board themselves, or they're going to lay your bets off but only after they've mimicked your trades AND put theirs on first. Either way it's better business for them than you.

Mind you, I'd do the same myself if I was in charge, as I think most of you would. Assuming that is you're in the business to make good cash that is.

That's called 'front running' and it's very very naughty!

 

[shortsell]

why do you keep referring to me by my first name - we don't know eachother i don't think?

just because someone is better informed than you on a subject that is no reason to be angry. i called you up because you were posting rubbish. because of that you want me to stop posting?

all very odd.

 

[Black Swan]

why do you keep referring to me by my first name - we don't know eachother i don't think?

just because someone is better informed than you on a subject that is no reason to be angry. i called you up because you were posting rubbish. because of that you want me to stop posting?

all very odd.

Yes it is very odd, but there's a gaggle of you snides that skulk and lie in the shadows, then get all brave like now and again..Oh can you point to the trading rubbish I post..? D1ckhead..