How much money can I make?

This is a discussion on How much money can I make? within the First Steps forums, part of the Reception category; Using spreadbetting what sort of return on a monthly basis should be achievable by trading on an end of day ...

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Old May 9, 2004, 3:52pm   #1
 
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Joined May 2003
How much money can I make?

Using spreadbetting what sort of return on a monthly basis should be achievable by trading on an end of day basis using stocks/forex/indices whichever gives me the best setups.I would be holding for anything from a day to a week or so.
Is anybody prepared to say what they are making ,especially as a trader I respect told me last week that only 2% of people make money spreadbetting!
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Old May 9, 2004, 4:26pm   #2
 
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Joined Jan 2003
]How long is a piece of string???

Seriously though the answer is open ended. Spread betting is no more than a trading vehicle, like options or any other form of taking a risk position in a financial market.
What you can make is, without extraordinary luck, dependant entirley on the amount of time you spend learning how to trade your chose market. I would say that an as an EOD trader you would have to take positions with wide stops as you won't be able to fine-tune your entries to limit this potential drawdown, and this in turn will affect your return on capital employed. Ie its not how much you can make-but how much money you have to put at risk to make that return.

One thing I do know is that there is no substitute for screen time, and sb companies are suckering mug money into the game knowing that 98% plus will not be in the game soon after.

There is a cost to everything and there is no such thing a easy money, there is also a risk so decide what you want to do, how much time you want to give it and how much you are prepared to lose as your education begins and go from there.

I wish you well
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Old May 9, 2004, 6:20pm   #3
Joined Dec 2003
Impossible question to answer. But you're making an easy mistake to make. Trading and making money from trading for 95% of the winners is not like a normal job. In a normal job you go to work everyday, do what you're paid to do and then get pretty much the same paycheck every month.

In trading if you're going to make say £12,000 in a year then this could be broken down into £1000 a month in winnings. But in reality you may well lose money for the first 3 months, breakeven for the next 2, have a great run for 4 months (making £12,000) and then breakeven for the remainder of the year, hence making £12k.

As for listening what other people are making then my advice is to believe NO ONE in this business when it comes to money. 90% of the losers will tell you they're making or breaking even and most of the clever winners will tell you the same. The ones that tell you they're making a fortune, well they're the ones I'd trust the least.

So how much can you make, depends on how good you are OVER a period of time. Your guess on this fact is as good as mine but your friend hints on the truth that most people lose or at least break even over time. My advice for most people is to treat this game as a hobby to start with (say 1-2 years), play with small money, money that it doesn't matter if you lose. Then if you really can make it in the business you'll know about it within this timeperiod, in effect you can't kid yourself of your own abilities or lack of them.

Good luck anyways
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Old May 9, 2004, 6:25pm   #4
 
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How much money can you lose?
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Old May 9, 2004, 6:41pm   #5
 
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Quote:
Originally Posted by oatman
How much money can you lose?




I am gonna give you a very serious answer to this question,

Every thing you are willing to risk
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Old May 9, 2004, 6:55pm   #6
 
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How much money can I make?

schoe,

using my state of the art market beating system and trading on all the margin available to you, I guarantee you will be a millionaire in no time!!!! The 'super Trader' system uses technical analysis that you dont have to understand to determine the perfect entry and exit points on the S&P 500. You will receive an email whenever a signal is triggered and all you have to do is follow the instructions. Its as so easy a child could follow it. And all this for only £5000 a year, but you must hurry this spacial offer price is only available for the next 5 days, after that you would have to pay the full price of £10000.

Thats not all we are so confident in the super trader system that if you are not completely satisfied with the results after 1 year you can cancel your subscription and get half your money back.

Dont delay pm me and i will send you details of my pay-pal account so you can sign up and start benefiting from this amazing software asap!!!
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Old May 9, 2004, 6:58pm   #7
 
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Hi Schoe.

This was asked a while ago and makes for some very interesting reading
How much dosh can I make
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Old May 9, 2004, 7:24pm   #8
 
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Spreadbetting, if we ignore the tax angle for a moment, allows you to leverage the amount of cash you actually have - where you could expect to make 10% on a stock deal, making £200 on a £2000 investment in a month perhaps the spread allows you to make rather more - you might have 10:1 leverage and get £2000 profit back. However, spread companies don't offer the stock trade bid-ask generally, and are able to move the spread when they see which way the wind (or money) is blowing - to an extent you avoid the government version of tax only to run afoul of the middleman cut.
Also, if you can't pick a stock trade direction correctly then leverage will ensure your losses get bigger - it's not far off what commonsense says ought to happen, bigger profits and bigger losses go hand in hand.
Don't concentrate on what you might manage to win each month, if you don't understand the mechanics you'll lose - your possible winnings are huge, to offset this you can be wiped out in short order if you don't know what you are doing.
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