Making Money With Spread Betting??

[pboi]

now you are just a big tease!

feel free to PM if you need extra brains to help you in your endavour.

 

[Visaria]

Well Anley, it's a step that I am about to take.
I will be leaving my job shortly and trading at an arcade.
However, the money I have made is a result of nuances in the SB companies themselves and not skill in the underlying market.
I strongly believe I could become a millionaire SB'ing but could probably never make a penny if I trade the real markets.
So that is why I SB.
To be honest, when I start at an arcade, I will probably still want to SB there.

Just curious, if you don't think you can make money from the real markets, why are you joining an arcade?

 

[trader_dante]

Well I'm thinking I can join an arcade and use their facilities to SB.

I'm sure I'd able to make even more money if I had the time and equipment seeing as I managed to make many thousands whilst at work with the following constraints:

1. Being the last to know what's going on in the market (i.e. economic indicators after they have been released rather than as they are released)
2. Making technical decisions following the cash market when I'm trading the respective futures contract.
3. Having to enter and exit markets, analyse news and monitor positions and cope with emotional pitfalls whilst working under extremely tight deadlines in my main day job. Not to mention being called into meetings or called out of the office when I have open positions which can get nasty
4. Being surrounded by people that tell me to "get real" and that I'm "never going to make it" rather than by actual traders all day.

I'll get in an arcade and I'll have a go at the futures markets. But really I want to SB. Why not from home? Because I want to get up and go somewhere every day. I don't think it's a good thing to associate a place of rest (the home) with a place of stress (work) - especially not something that generates as much stress as trading does. And I want to be surrounded by like minded people that share my enthusiasm and want to win.

 

[Visaria]

Well I'm thinking I can join an arcade and use their facilities to SB.

As far as I'm aware, arcades are set up to trade the real markets and have no relation to SB. Happy to be corrected if this is not so.

 

[trader_dante]

Visaria, you are right.
But you misunderstand: I would be using it to trade the real market.
I just presumed I could use one of the screens to SB. That way if I make any losses in the futures market I know I can offset them with wins SB'ing.
Let's call it a nice hedge until I am more experienced
I know little about arcades so I would be happy to be corrected.

 

[Visaria]

I know little about arcades so I would be happy to be corrected.

Perhaps you should find out more before you leave your job.

 

[trader_dante]

Maybe. But I think I'll leave my job all the same.
I have a guaranteed income from SB'ing.
What's the worst that can happen? I can't trade futures at an arcade.
It's a shame. Maybe I'll have to rent my own office....

 

[Visaria]

Maybe. But I think I'll leave my job all the same.
I have a guaranteed income from SB'ing.
What's the worst that can happen? I can't trade futures at an arcade.
It's a shame. Maybe I'll have to rent my own office....

Pretty good. Maybe too good to be true....

 

[trader_dante]

I understand.

There are so many people that find it difficult to make money SB'ing that no one believes you when you say you can.

But I'm not claiming to be a market wizard here. All I am stating is that I can beat a company.

 

[a904lea]

I understand.

There are so many people that find it difficult to make money SB'ing that no one believes you when you say you can.

But I'm not claiming to be a market wizard here. All I am stating is that I can beat a company.

Can I ask which SB company you are dealing with and whether you have any hints/tips you would care to pass on to someone who is fairly new to SBing? Do you bet on shares, indices or currencies? I am living on disability benefits and need some extra money to supplement my 'income'. I believe that it's possible to make profits this way and the tax position of SBing is a bonus - I just haven't cracked it as yet!

 

[trader_dante]

I'm sorry but I don't like to give away company names or specific techniques. If I did, then the loopholes I use would be immediately closed by the company.

A consistent winner sets off alarm bells. Consistent winner(s) will do so doubly fast.

My advice is open two different accounts and, if you can, spend all day, every day watching the prices they quote. And I mean watching....checking once every half hour doesn't count.

It's just like the markets...look for patterns...

Maybe you noticed that Heating Oil futures are extremely volatile and move a huge number of ticks on certain days and the SB company gives you a guaranteed fill for a certain period of time at a certain price - meaning that you can "lock" in a price that no longer exists. Or to put it more simply, you are in profit before you have even decided to buy.

Once you find something, test it small and then go large while it lasts!

They will change it as soon as they notice you profiting consistently. One SB company had to change not only the contract they quoted but also the length of time they quoted for and the way they quoted, to stop me profiting from it.

As I said, keep looking for opportunities.