Sucessful Profitable Spreadbetting - The way I do it

Im sure every spreadbetting firm is guilty of making it sound very easy to lure you in, so they can make money.

As far as i understand, they dont care if you win or lose, because they make money on the number of trades you process, and spread x Stake.

Spreadco's spread is 0.8, so if i enter a trade at £100 per point stake, SpreadCo have made £80 regardless of my trade's outcome.

If i am wrong, can someone correct me please. thanks

It's hard to know where to begin. btw, are you hotbaz?
 
It's hard to know where to begin. btw, are you hotbaz?

lol no i am not - didnt he say he was with his wife shopping ? I hope to see his trades with timestamps to see if he is actually speaking of truth.

If i can screenprint my trades, he should be able to also - if he has nothing to hide.
 
I use SpreadCo which dont have the HangSeng index on there so i cannot see the premarket charts im afraid. However, the current price on there is 20,136.12.

It is entirely possible for that to move 70 points within a matter of 10 minutes.
Between 9:42 and 9:47 [HKT], it moved by 60 points. Thats in 5 minutes. Hence why i do not doubt that.

Same with the US100 - this trades at 13200, so experiencing 50+ point moves is not uncommon in a short space of time, unlike the FTSE where it may be - especially since the total movement from high/low on friday was only 50 or so points on the FTSE.


HotBaz - can you provide us with some timestamps, prices of open and close positions of these trades you did on Friday so we can settle this once and for all - if not - a screenprint would be better. If thats not too much to ask.

I can also provide some screenprints of my SpreadCo trades where i have made over £1000 in 10 minutes if someone so wishes to see - but as i say my downfall is lack of discipline and possibly greed - which resulted in losing half of it 10 minutes later.

Before asking me if I can read, I would suggest asking yourself if YOU can read - he made the 45 points on the US30 - have you got that chart....?

.....if so have a look at where and when he would have needed to get in to make 45 points.
 
:LOL: I need a nappy.

I thought i needed one when i lost that 365.... but that isnt the most i have lost. Ive lost more than double that one time - but i made it back lol.

Fact is, as soon as my negative trades went considerably negative, i should have closed them. But its difficult not to let your emotions/hopes take over. Takes real disciplin to accept a loss. Gets tougher and tougher as that negative figure just carries on going....
 
lol no i am not - didnt he say he was with his wife shopping ? I hope to see his trades with timestamps to see if he is actually speaking of truth.

If i can screenprint my trades, he should be able to also - if he has nothing to hide.

Wife shopping? A person of his wealth shouldn't need to use those Russian web sites.
 
" this Is because I had opened a us30 position which by early morning had dropped some 45 plus points by 6am "

I concur . I fail to see this on my chart also.

HotBaz - some clarity please if you may.

US30 did not drop 40points by 6am if you were watching for 10 minutes.

You would have needed to open a short at 11pm the night before to have had a 40+ drop by 6am on Friday.
 
I thought i needed one when i lost that 365.... but that isnt the most i have lost. Ive lost more than double that one time - but i made it back lol.

Fact is, as soon as my negative trades went considerably negative, i should have closed them. But its difficult not to let your emotions/hopes take over. Takes real disciplin to accept a loss. Gets tougher and tougher as that negative figure just carries on going....

OMG. It's like watching babies play with razor blades.
 
f) I try not to have positions open when I am busy doing other things - to many opportunities can me missed. The other day I took my family to the cinema - I missed the important 1:30 USD Initial Jobless Claims report - as a result i missed out on some big intraday profits as there were large swings.

CMC Markets have an iPhone app - you could have traded from your iPhone.
 
CMC Markets have an iPhone app - you could have traded from your iPhone.

I wouldnt recommend this.

Executions wont be instant, and if your 3G reception is gone, and your stuck in a trade, ouch. All sorts can go wrong imo.
 
I wouldnt recommend this.

Executions wont be instant, and if your 3G reception is gone, and your stuck in a trade, ouch. All sorts can go wrong imo.

Quite true. I'm currently testing the demo at the moment, though it could be totally different from the live!
 
Considering I am new today, and trying to offer some optimistic advice, I seem to be getting some negative flack from some people. I am sure I have better things to do that write on this forum. Lets face it - what benefit do I get.

I will try and answer all the various points that you guys have mentioned.

I have never heard of the term "Scam vendoring" so I'm not trying to sell you anything.

In fact until yesterday I had never read into any forums - its only because I read someones negative comments about spreadbetting that I thought I would come in and throw my pennies worth.

pboyles - you look like a very experienced poster and have obviously come up against all sorts in your time here. I will never ask for money of anyone - whats the point - I dont have a crystal ball.

Im only trying to offer some positive encouragement by the way I do things. I'm not perfect - Not a professional - I have no insider knowledge - I just been "Feeling" the markets on and off for 15 years. I have had pain, but now consider myself deciplined. I have to be - I have a family to look after, and cannot afford to take big risks.

As I said I watch the charts very closely even to a point where I do not blink for long periods and as soon as I see a slight panic and its in the wrong direction I get out.

I make my money by making very small trades - £25-£50 at a time for all open trades. Once I hit that figure (£50) I withdrawl it. (SO as not to get tempted to lose it)

If I am down - I will spend more hours in that day trying to get it back into positive territory.

CMC do not requote not - the price you close at it what it closes at. There site is CMC Markets | Forex, CFD & Financial Spread Betting Platform Providers | CMC Markets

I used IGINDEX in the past years ago, but I am most comfortable with CMC and they have a slick online system and a app for iphones.

I do not always hold overnight - depends how the day has gone, and whether I feel asia will react in the same way.

I will try and list trades I make during the day on Wednesday, as im taking my wife out for a 2 day break tomorrow - and yes I will go out my way and provide a screen shot as well.

Seriously guys its not too difficult to make 40-60% a day. Especially when you are monitoring real time.

Nice table KUIK - considering your learning, your playing with big numbers - but good luck to you - just do not get greedy - thats what got me in the past.

"Hacks" - yes, sad it may sound - I sometimes trade via my iphone in bed and yes executions are instant - well within 1 second.

KUIK - thank you for the support - I am genuine here and do find it a tad annoying at some of the comments some are coming out with. I am certainly not here to call any body. I want nothing from you guys!

I admit I increased my account of £400 to £1100 on Thursday, but as of Wednesday I will be going back to £400 - Why, I wanted to try something, but was not comfortable, so I am going back to what I know.

Transaction Tables
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a couple below will show that I made £185 by 8:40am and then a further £61.50 by 9:06am

Thats a total £246 by breakfast - By 10 I had finished for the day - and hit my £150 to £200 a day target.

friimg0.png


friimg1.png
 
You'll need to post up live trades Baz to get people taking you seriously......
Lot in your opening post that I agreed with but to win friends and influence anyone here, you need to post those live trades as you place them.....
 
Jungerms - The prove is in the pudding - I do not have anything to prove to anyone other than myself - I am just trying to share and maybe help others in this area.
 
There are numerous examples. A guy called Jacko at forexfactory was providing free advice and then took money off people for a managed account and disappeared with it. There was some guy called Llewelyn trying it on here yesterday, offering free advice as an ex prop trader with 8 years experience. Turned out he was a purveyor of get rich quick schemes and had only been at a prop firm (in Wales) for 6 months.

Believe me these guys only come here to set up a few gullible people for a fleecing.

Mistake 3
 
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