Another s/b question I'm afraid......

[Trender]

G'day all....

I've only recently discovered this site and I'm most impressed. Good to see sensible stuff about trading.

I'm a one time swing trader of shares, who now finds himself increasingly drawn towards intraday trading, specifically index futures. However before I start parting with the big bucks I want to open a spreadbet account, more than anything just to explore at first hand all the horror stories I hear.

My question is, although CMC offer tighter spreads, it would seem to me that Finspreads at least give you the option of confirming the position at a specific price, rather than the CMC method of requoting in their favour, which can actually make the spread much bigger. I've free trialed the CMC system, but it appears to me a case of gloss over substance, IMHO. Surely the ability to confirm or cancel at a specific price is the most important option?

Sorry to bring up the s/b issue again, but I'm genuinely interested on peoples' thoughts/experience of this. (And I do realise that spreadbetting is totally in the bookies favour btw.)

Interested in your thoughts....

 

[Helenqu]

Hi Trender,

Check out JPWones site on Spreadbetting:

http://212.38.89.86/spreads/

There he outlines a system for helping to beat the spreads. Takes a lot of the advantages back from the firms.
Personally I like D4F and have closed my Fins account. Since I only trade with small bets £1 a point I am unable to use Fins stops system. Trading without stops to me is like jumping out of a plane with no parachute

I don't find the requote system on D4F a big problem and I trade both Dow and FTSE with them.


HTH

 

[ChartMan]

Dig around my posts, Trender. Email me If you want to know how to set this up. I can only tell you about the dow, but there are tricks you should know before you get going

 

[Trender]

Helenqu and Chartman. Many thanks for the info - much appreciated. Chartman, I'll have a look through your postings then drop you an e-mail if you don't mind.

Many thanks
Trender.

 

[steve-th]

Hi Trender.
Before you switch from trading shares realise that a £1 bet on the Dow ain't small time. It's the same as a £95/point bet on Vodaphone!!! Thus the only way to limit your potential losses is to impose such small stops that just a change in the infamous SB bias is likely to take you out.
Steve

 

[orchard]

Hello trender
Spread betting can be fun ha ha. I also bet in £1 but you can now place stops and limits on Fins on net trading. I have found this a big advantage. I am certainly up and down at the moment, but my 'ups' are greater than my 'downs' because of the stop loss facility. By the way, I have always lost exactly what I placed with fins, not a £1 up or down. I also bet only Wall st daily futures. The spread may be big, but at least it is constant.
Best of luck
Orchard.

 

[java]

I'm also new to this spreadbetting lark and hope to start with a real cash account with D4f before too long. Posters have pointed out elsewhere the discrepancies between the CMC quoted price and the actual index figures, but surely you could use CMC's own charting to look at the trends from their own figures? I'm just using the demo right now so I'm not sure what the charting facility is like, so I don't know whether this can be done - I've read a couple of posts that suggest it's possible but without the benefit of many indicators.