Where are the successful spreadbetters?

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Old Oct 16, 2008, 1:05pm   #1
 
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Where are the successful spreadbetters?

Having been trading on and off for 7 years I have only lost accounts. I've tried so many systems but spread betting to me seems to be about how long you can keep your account intact before you lose it all.

I'm interested in hearing from anyone who has been trading successfully for 3+ years and any advice

Cheers
D
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Old Oct 16, 2008, 1:30pm   #2
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I've done better investing in a portfolio, long term. However, some progress has been made in spreadbetting.

Firstly, do you feel that you are getting screwed or do you accept that losses are your fault?

If it is the latter, I don't think that you would do better with DA. I, on hindsight, know when I make a mistake. For instance, this morning has been difficult for me. I have made four trades, very close stops, lost on three trades and am a few points ahead on the fourth. All my fault. Tomorrow's another day.

Split
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Old Oct 16, 2008, 1:45pm   #3
 
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rumbey started this thread No its not that I've been screwed. I've never had a bad trading issue with any broker.
From my experience I win I loss I try different systems BUT eventually lose.

95% of spread betters lose, so nothing new here... But my question is where are the successful traders if any?

7 years is a long time to constantly loose and I just think Human emotion is something that cannot be avoided which I blame for my losses. If we didn't have emotions we would be DEAD!

D
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Old Oct 16, 2008, 2:01pm   #4
 
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I'm here, 4+years indices trading and 10 years prior stocks trading.

It sounds like from both your posts you have a problem with accepting its your fault, even if you doubt this then question why you state that 95% of spreadbettors lose, is it any different with DA, you also ask for specificly spreadbettors, again, is it any different going DA.

As for advice:

Go over your paper work and check the trades that you made. It's very possible you gave up on a good strat when it went through a bad period only to pick up another one and trade that equally bad with bad timing.

Remember, we all see the same prices and at the same time, this is true for all traders all around the world, so ask yourself, why does one person win consistantly and another lose.

This can also be attributed to the popular game of poker, more people lose than win, this happens year in year out and every single day, yet, the same people consistantly get near or at the top of the tourny boards. Surely the game is not rigged, they all get random cards yet it is not the cards you get....its how you play them.

Good luck
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Old Oct 16, 2008, 2:20pm   #5
 
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rumbey started this thread Lee,

Not at all. I accept all loses myself. I do not blame the market or anyone else.

I have taken a £1000 account to over £8000 in the space of 5 months, however as soon as I get a bad run of loses,(which again I accept and know its part of the game), then I try to get the account back up quickly by increasing the risk.

I know Patience, discipline etc are required BUT I just seem to let these essential rules go out of the window.

Maybe my character just isn't right for spreadbetting?

How do you cope with a poor run of loses?

D
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Old Oct 16, 2008, 2:30pm   #6
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Originally Posted by rumbey View Post

How do you cope with a poor run of loses?

D
I know this was addressed to Lee, but for what it's worth...

I know that I have a historical Win Ratio (WR), I also know - with a bit of O-level maths - when my run of poor losses deviates statistically significantly from this WR.

Until this threshold is exceeded it is just 'noise' and should return to the mean over a sufficient number of trades. It is boring, but interesting, to do the maths. e.g. With a WR of 50% you can expect to get some stroke-inducing drawdowns, when you know these are a normal part of the system performance then it does wonders for the state of mind.

Ben
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Old Oct 16, 2008, 2:51pm   #7
 
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RedgreenBen has said what I would have said.

As for patience and discipline ect, if you dont posses these then you're right, trading is not for you.
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Old Oct 16, 2008, 2:52pm   #8
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Lee,

, then I try to get the account back up quickly by increasing the risk.
D
There's the answer. Unless you can sort your trading psychology out you'll always lose in the long run. I had a few losses last week. Stopped trading. Read some trading books (again, that I hadn't read for a while) Analysed my losses and worked out whether my system needed tuning - came up with a couple things, started again this week, all is good again.

Seriously, the time off really works for me - work out what would work for you - why would you want to do otherwise? You have a big advantage in that you have a load of losing trades to learn from ;-)

cheers
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