A question to successful spread betters

[ajs5274]

I use IG Index. have been for a few weeks now. In profit trading 1-2 hours a day. See my link http://www.trade2win.com/boards/showthread.php?t=27343.

Any constructive comments appreciated.

 

[ceydababy]

Thank you very much everyone for sound tips.

I am intending to day trade (about 50 bets per day), not sure if it is classed as scalping as I won't be in and out in seconds or minutes but more like anything from 5 mins to 20 mins. I guess that's called short term trading? Just looking to make £10-£50 profits per bet.


I am not particularly looking to trade as Hoggums described above but I will be trading throughout the day so if it happens or as and when it happens, if SB is quoting late for whatever reasons, it's no my fault and I'd take my profit if it's there regardless.

SB market may not be mature yet but I bet brokers must be thinking there will always be newbies.

I won't moan for unfilled orders. It seems to happen quite a lot across the board so looks like I'll have to bear with it.

HI spread bunny,

Don't mean to pour water on your parade, in theory it is possible to trade 50 times a day nicking a few points from each trade.but in reality you need to be RED HOT to be profitable and achieve the goals you are looking to achieve.

The problem comes in two forms firstly the spread and secondly taking a hit. Most SB companies have a 2 point FTSE spread, so you are 2 points offside from the point of entry. So you need a 4 point move in your favour to net 2 points. Now in my opinion it is unrealistic to cut a trade when it moves 2 points against you that is not enough breathing room. If you run it 5 points against you and cut it you have lost 7 points, this means you need to make four winners to net 1 point. As I say on paper it probably appears doable. However, I would be amazed if anyone could pull this kind of trading off and actually:

a. Make Money,
b. Be in a sane mental state to communicate with the outside world after a day of it
c. Not get themselves sectioned after a week of it.

Remember when you look back at the charts everyones a billionaire, in reality it is different. I look at charts and think...I should be XXX up and in fact I am not. One is a theoretical profit the other is the Actual, and it is the actual that matters not the coulda woulda shoulda.

Just my $0.02 worth