Have I wasted my money?

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neilmc

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Hey guys and girls,
I heard about spread betting and thought i'd look into it as it sounds interesting.
Before i found this site i didn't realy know what i was looking for and what it was. But i did find Vince Stanzione's site which advertised his dvd's and course for £352. I had a look on ebay and found someone selling it for £40 so i've bought it and i'm awaiting the delivery.

Now, have i just wasted £40? Is it worth reading/watching/learning?
I have read the begginers giude on this site and some other articles but i'm still unsure as to where to start?
There are lots of diferent SB sites, should i open a demo account and play around first? IG Index does a 6 week course where i can bet for pence and learn? Is it worth just giving that ago straight away? I'm seem to be still confused with it all, as i had no knowledge on the stock market and such topics.

Thanks for your time,

Neil
 
Neil,

I'm not familiar with Stanzione but £40 is neither here nor there. And if you bet with pennies, then you can't lose much. However, before considering anything serious, I suggest you do some serious study in the areas that are of interest, not just Spreadbeting per se, but the broader markets, ie the underlying instruments of your intended bets.

Grant.
 
I've seen some of his videos. It's nothing revolutionary but it is easier than reading a hefty book. A good intro into basic trading concepts.

As for spreadbetting, try Tradindex for a free, unlimited time £20k play money. IG Index's 6 week intro thing is good because you can place bets of just 10p and their system is pretty robust (and looks pretty). There is another company who does 10p bets but I can't remember who it was.

Also, take note of my signature, below.

PS I'll give you £25 for the DVDs when you're done... :D
 
neilmc said:
Hey guys and girls,
I heard about spread betting and thought i'd look into it as it sounds interesting.
Before i found this site i didn't realy know what i was looking for and what it was. But i did find Vince Stanzione's site which advertised his dvd's and course for £352. I had a look on ebay and found someone selling it for £40 so i've bought it and i'm awaiting the delivery.

Now, have i just wasted £40? Is it worth reading/watching/learning?
I have read the begginers giude on this site and some other articles but i'm still unsure as to where to start?
There are lots of diferent SB sites, should i open a demo account and play around first? IG Index does a 6 week course where i can bet for pence and learn? Is it worth just giving that ago straight away? I'm seem to be still confused with it all, as i had no knowledge on the stock market and such topics.

Thanks for your time,

Neil
Click to expand...

Hi Neil,

I also have not heard of Vince's strategy, but 40lbs is 40lbs. That being said, bad information is worse than none! Most of what you need to learn how to trade, you learned in the 1st grade...be disciplined and listen to the rules. Also, most of what you can learn in trading can be found for free on websites like this, or in the library.

Good luck, and don't waste money on someone else's strategies. You will eventually need to come up with your own. Learn some fundamentals about High Probability Trading (great book by Marcel Link-a must read for any trade) and money management. Those are the two keys to trading that are the hardest to learn. Without them, you are guaranteed to fail!

Good Luck

Andy Geller
EMAIL ADD REMOVED PLEASE DO NOT PUT THIS IN YOUR POSTS
 
Vince....hmmm

don't mean to sound negative, but this is a lot of crap. I have the folder from one of his courses....The stuff he goes through you could get for nothing by reading this website. Also if trading was really as simple as using from memory a 200sma then we would all be millionaires. Put it like this...count yourself lucky that you didn't pay £352 for it...you would be sick.

For £40 still very toppy for what it is going to teach you. A lot of whats in there is covered in the Free IG Spreadbetting guide you get when you open an account.....Sorry but in my opinion I wouldn't give this guy 40p of my hard earned let alone £40...TOTAL RIP OFF.
 
totally...

ceydababy said:
don't mean to sound negative, but this is a lot of crap. I have the folder from one of his courses....The stuff he goes through you could get for nothing by reading this website. Also if trading was really as simple as using from memory a 200sma then we would all be millionaires. Put it like this...count yourself lucky that you didn't pay £352 for it...you would be sick.

For £40 still very toppy for what it is going to teach you. A lot of whats in there is covered in the Free IG Spreadbetting guide you get when you open an account.....Sorry but in my opinion I wouldn't give this guy 40p of my hard earned let alone £40...TOTAL RIP OFF.
Click to expand...

Very well said!
 
Think Clearly

EFXandy said:
Very well said!
Click to expand...

There is a great deal written about VS elsewhere on these boards - mixed views but generally negative - his latest offering, a modest £2997 to attend a seminar next Monday 19th to learn about something tha no-one else has thought of called the "profit" lever".

The truth of the matter is that he would only be selling something to you (others) if he thought he could earn more from selling ideas than by trading. Otherwise he would take the trading idea to the likes of Goldmans and really make his fortune.


The basics in his spread-betting tutorial are quite good but the same information is available either here or from the spread betting companies for free.
 
cant see any harm in watching , just flog them on ebay again once you've finished they're quite popular on there.

it seems from looking at some of the trading statements from his website he's made a killing trading over the past few months?
 
I think you've had a massive result if you’ve only paid £40 (not saying that you’ve got a good deal, just that IMO you haven’t wasted £100s if not £1,000s).

Now go an make your fortune which apparently it's easy to do after buying his stuff :) :)
 
anley said:
I think you've had a massive result if you’ve only paid £40 (not saying that you’ve got a good deal, just that IMO you haven’t wasted £100s if not £1,000s).

Now go an make your fortune which apparently it's easy to do after buying his stuff :) :)
Click to expand...

lol - words out of my mouth!

so, whats this guys chances of surviving a year spread betting or trading?

plus: the market is offered £375, but he gets filled at £40! well done. patience and analysis has paid off.

minus: he's worried about £40. under capitalised?

sorry, am i over analysing this?
 
charliechan said:
lol - words out of my mouth!

so, whats this guys chances of surviving a year spread betting or trading?

plus: the market is offered £375, but he gets filled at £40! well done. patience and analysis has paid off.

minus: he's worried about £40. under capitalised?

sorry, am i over analysing this?
Click to expand...

I'm not worried about the £40. I'm just questioning the actual info that I have paid for.
Like I said in my first post. I was unsure where to start.

So i guess you are over analysing it.
 
it is essential you read all that vince has to say, then try it on paper and see how you go....... give it a month or two - ON PAPER only. If it works for you, then go for it. If it doesnt, at least you will have learnt something. Eventually, if you have aptitude for trading, you will find a trading style that suits you. I work for a hedge fund and each portfolio manager has a specific style and passion. If there was ONLY ONE way to trade. We would all have the same portfolios and that obviously wouldnt work! So find what is best for you and work work work on it.

Regards
 
Best advice is to listen

neilmc said:
I'm not worried about the £40. I'm just questioning the actual info that I have paid for.
Like I said in my first post. I was unsure where to start.

So i guess you are over analysing it.
Click to expand...


I wouldn't dismiss CharlieChan so quickly my friend. His reponse is actually quite funny if you are a real trader. £40 is nothing. If you're having second thoughts about chucking that amount of money at a real product (albeit one you won't see until you get it) then you don't have the mental stamina for spreadbetting. You'll lose more than £40 getting to grips with trading. Just remember to enter stops - not too close - otherwise you're on to a loser straight away.
 
greybox said:
You'll lose more than £40 getting to grips with trading.
Click to expand...

Utter nonsense. I've never done that. :eek:

whistle.gif
 
Just wondering Neil, have you made a killing yet with the Stanzione material :) :)
 
I think spreadbetting is a waste of money full stop.

I've looked mainly at Indexes.

I quickly made £1500 in the first 6 months this year, whilst indexes were going up.

I was making stop losses of 13%, because history shows that was the largest "Correction". The stop losses triggered and bottomed out at 13.5%, I lost all my profit.

I then traded up to make about £300 in October, I had less to play with so my trades were smaller, only to wipe out my £300 profit and my orginal £300 investment in the latest correction.

So I am skint having lost £300.

Now your hear lots of people saying how much they've gained, but the bottom line is as quick as profits come, losses come even quicker, so you could make thousands in your first year only to see it wiped out the following year.

It is just plain gambling, with the only real winners being the companies offering the service.
 
GeedoubleU said:
So I am skint having lost £300.........It is just plain gambling, with the only real winners being the companies offering the service.........
Click to expand...

aye, better blame them than consider that you might have been under capitalised, with no plan or edge;)

UTB
 
GeedoubleU said:
I think spreadbetting is a waste of money full stop.

I've looked mainly at Indexes.

I quickly made £1500 in the first 6 months this year, whilst indexes were going up.

I was making stop losses of 13%, because history shows that was the largest "Correction". The stop losses triggered and bottomed out at 13.5%, I lost all my profit.

I then traded up to make about £300 in October, I had less to play with so my trades were smaller, only to wipe out my £300 profit and my orginal £300 investment in the latest correction.

So I am skint having lost £300.

Now your hear lots of people saying how much they've gained, but the bottom line is as quick as profits come, losses come even quicker, so you could make thousands in your first year only to see it wiped out the following year.

It is just plain gambling, with the only real winners being the companies offering the service.
Click to expand...

The problem here was not with spreadbetting - but your strategy. You were running over-leveraged buy-and-hold positions which is a guarantee to getting wiped out.
 
Money management is important. Clearly, you have a winning method but you need to manage your risk better.

Thing is, did you work out how you lost the money or do you think it was just a random occurence... Sod's Law, perhaps? In trading, you only really learn from your losses, I found.

Have another go, go on, you know you want to.
 
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