Beginners guide to Spread Betting

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Old Sep 10, 2017, 11:05am   #9
Joined Jul 2008
beg to differ with points 3 & 4 above:

"3)
Trade with that virtual £10,000 as if it was your hard earned cash,
and do so for a least 2-2 months with your theoretically ‘winning’ strategy.

4)
If your strategy is ‘truly’ sound you should be able to easily turn £10,000
into £20,000 with minimal/controlled losses."

No, a newbie shouldn't be able to double your fictitious (or even real) money in such a short time, even if "your strategy is sound" and BTW, even if that should read "2-3 months". That would be extraordinary/ridiculous.
Doubling your money on a lucky break may well happen, but to double your money on any sound strategy or technique, will take many years of experience. It's almost always, in other words, a very long ride, and newbies shouldn't feel that there is any quick route to success.

Come to think of it, any strategy which returns anything positive in a few months, never mind doubling your money, would, frankly, be an encouraging start.

But make no mistake, it's "a start" and only a start. Once again, I can't stress enough to any newcomer that it'll be a long journey...

HTH
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Old Sep 10, 2017, 1:23pm   #10
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Originally Posted by peakoil View Post
No, a newbie shouldn't be able to double your fictitious (or even real) money in such a short time, even if "your strategy is sound" and BTW, even if that should read "2-3 months". That would be extraordinary/ridiculous.
Not at all. A beginner will inevitably go all in. The chance of a beginner doubling his money at the beginning is rather high compared to the more experienced who don't go all in. The question is not whether it is possible to double the money, but rather is it useful to double the money given that it will be lost on subsequent attempts to double some more ?
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Old Sep 10, 2017, 4:18pm   #11
 
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Originally Posted by EnlightenedJoe View Post
Not at all. A beginner will inevitably go all in. The chance of a beginner doubling his money at the beginning is rather high compared to the more experienced who don't go all in. The question is not whether it is possible to double the money, but rather is it useful to double the money given that it will be lost on subsequent attempts to double some more ?
Your statement is false and misleading. Not sure where you got that from but more than likely disinformation or gamblers mentality. Most beginner traders regardless of whether they go all in or not, will lose. Think about my statement here:

If you were right and I were wrong then hedge funds, banks and even including me would throw serious money at noobs and cash out when they doubled the pot. The majority of noobs lose. In fact most 'wannabe traders' lose. And that's fact.

Lee
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Old Sep 10, 2017, 5:04pm   #12
Joined Apr 2016
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Originally Posted by Lee Shepherd View Post
Your statement is false and misleading. Not sure where you got that from but more than likely disinformation or gamblers mentality. Most beginner traders regardless of whether they go all in or not, will lose. Think about my statement here:

If you were right and I were wrong then hedge funds, banks and even including me would throw serious money at noobs and cash out when they doubled the pot. The majority of noobs lose. In fact most 'wannabe traders' lose. And that's fact.

Lee
wabu27's thread is a good example of a beginner winning big quickly. Winning big does not necessarily need skill, just the willingness to take large risks. Hedge funds know this too, and this is the reason they reduce size and risk to the bare minimum necessary to earn the management fees.
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