tar
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tar
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tar
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shadowninja
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It's turning into groundhog day around here.Sorry guys, for making you post these items. It has become quite apparent that it is a cr*p subject and that no one really knows nor cares.
So far, There seems to be a few who stay under the radar and never have any problems. I will just have to hope that I will be one of the lucky few.
Ninja, sorry mate, but I agree after reading through to page 10 it does seem like groundhog day.
Anyway thanks for the links.
If anyone is reading this thred and spreadbets for a living in Essex, let me know, I would appreciate coming to see you do it live and what kind of set up you use etc...
So far, There seems to be a few who stay under the radar and never have any problems. I will just have to hope that I will be one of the lucky few.
Ninja, sorry mate, but I agree after reading through to page 10 it does seem like groundhog day.
Anyway thanks for the links.
If anyone is reading this thred and spreadbets for a living in Essex, let me know, I would appreciate coming to see you do it live and what kind of set up you use etc...
Why persist with spreadbetting, look at futures, at least then you are not trading against a bookie.
Thanks Pboyle,
Where do I start? Just a couple of pointers and I will have a read. After reading lots on this site, I have made my target for today and thus am reading more.
I love thoughts from everyone, as I said in my very first post, I really dont care about critisim, I have learnt just to take it on the chin, it was hard learning this but it happens. ("What sh!t" "Sometimes")
Thanks,
BTW sorry for the forrest gump quote, I do love film quotes!!!
Where do I start? Just a couple of pointers and I will have a read. After reading lots on this site, I have made my target for today and thus am reading more.
I love thoughts from everyone, as I said in my very first post, I really dont care about critisim, I have learnt just to take it on the chin, it was hard learning this but it happens. ("What sh!t" "Sometimes")
Thanks,
BTW sorry for the forrest gump quote, I do love film quotes!!!
Read on up the e mini S&P and e mini Dow, these are futures contracts that dont require a massive account to trade with. You dont pay a spread like in spreadbetting but you will pay between $1.75 and $5 in commission per trade. The big difference is that you are trading in the real market, not against a bookie, so there is no funny business like platforms freezing and prices and spreads being manipulated etc (people who promote spreadbetting tell you this happens in futures too, but it doesnt).
You can access free charts through FXPro which also provies a demo account, however you'd probably want to get an account with a proper futures broker once you go live. For the purposes of testing its fine though.
This guy posts support and resistance levels, plot them on your charts (I use my own but these are fine)
http://www.trade2win.com/boards/us-...-support-resistance-trading-s-p-emini-58.html
Then read up on 'PIN bars', there's a lengthy thread about them called james16 chart thread on forexfactory.com http://www.forexfactory.com/showthread.php?t=2331&page=3969 ...but you may find a shorter explanation elsewhere, they are pretty simple.
To cut a long story short look for PIN bars at those support and resistance levels. That should be enough to get you started. See example below, this is somewhat simplified but a good starting point
Attachments
BSD
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http://www.trade2win.com/boards/gen...ndex-taking-me-bankruptcy-13.html#post1072272
Go trade futures and you're getting real, unmanipulated prices.
Trading is tough enough already without having to skew the odds against you by choosing to spreadbet.
Go trade futures and you're getting real, unmanipulated prices.
Trading is tough enough already without having to skew the odds against you by choosing to spreadbet.
Keith Upsdell
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Day trading is always tricky. You have to have strict rules in place such as automated exits (eg. brackets or trailing stops).Systems that automate this process remove the emotion from trading - if you have a strict profit to risk ratio you should stick to it, apply an automated bracket (avaliable on most futures platforms - sounds complicated but exceptionally easy to put in place) around open positions with a target and a stop, multiple stops and targets also help if you need to scale out as well as trailing and trendline stops. Remove the manual element of your exits and see how it compares!!
FXTrend240
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spreadbetting for a living if you are swing trading, is ok . But OBVIOUSLY direct market access is better, ecn forex or futures are better than retail/spreadbetting
Sunshine On Leith
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Theres a lot of snobbbery about spreadbetting not being 'real trading' but I would suggest you work out your instrument and trading style first then work out which method of trading to use last.
If your strategy involves trading the most liquid instruments (which would make sense starting out) and your holding period is more than a few hours then spreadbetting does work. You can get one point spreads on things like FTSE and DAX these days. If giving up 0.5 points of execution cost on a trade in FTSE is going to stop you making money then a broker isint going to save you!
Basically I think you need to work out your trading strategy first then worry about the liquidity provider last.
If your strategy involves trading the most liquid instruments (which would make sense starting out) and your holding period is more than a few hours then spreadbetting does work. You can get one point spreads on things like FTSE and DAX these days. If giving up 0.5 points of execution cost on a trade in FTSE is going to stop you making money then a broker isint going to save you!
Basically I think you need to work out your trading strategy first then worry about the liquidity provider last.
Keith Upsdell
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great DMA scalping platform is IQ Trader, has trading from charts, reverse button, drawing tools as stops, brackets........
Sunshine On Leith
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So if you had done that with a spreadbet your roundtrip would have cost you an extra 0.5 points (less $1.75 com). Im interested why it wouldnt have made sense to pay that cost to make your profit tax free?
What is the spread on the S&P June contract at 0905am UK time with your spreadbet company?
After I placed the order the price went one tick higher to 1170.75 and filled my order at 1170.50, where would your SB fill you?
My SL was at 1171.25 would your SB company allow a SL that close?
Being filled at 1170.50 allowed me to get out at 1169.50 with 4 ticks, if you had even got in what price would have to have been reached before you got out with 4 ticks?
Actually you're probably not allowed to scalp so why am I asking.
StephenMcCreedy
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yes, i spreadbet for a living, sometimes it's a good living and at times it isn't.
i try to restrict myself to the daily ftse contract with cantor index but often get distracted with the dow, crude, cable etc.
if you want any advice please free to ask. i've been trading full time ten years.
my first bit of advice would be; if you are spreadbetting, trade half as much as you already trade and you'll make more money. i reckon 1-2 trades a day on daily ftse is optimal. the spread is horrendous and the more you trade the more edge you surrender.
i try to restrict myself to the daily ftse contract with cantor index but often get distracted with the dow, crude, cable etc.
if you want any advice please free to ask. i've been trading full time ten years.
my first bit of advice would be; if you are spreadbetting, trade half as much as you already trade and you'll make more money. i reckon 1-2 trades a day on daily ftse is optimal. the spread is horrendous and the more you trade the more edge you surrender.
B
Black Swan
Spread of 1 pip on ftse with IG?
StephenMcCreedy
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yes but i'm used to trading futures with ib and trading inside of the spread. with cantor it's 2 points and on slow days you really feel it. personally i think in every variation of trading the advice i would give is trade less with larger targets. i feel this is even more important in spreadbetting as there are bad prices and fills and skew and you can combat this the most when aiming for 30 point moves (for instance) than 5-10 point moves that i feel some people do when they start out. by the way i like your name (black swan) good book and got more out of it when i re read, probably due a reread.
ftse weakening but even though i'm short i'm not comfortable. the market is thin and it can take an hour to fall 10 and retake the whole lot in a minute when it wants to.
ftse weakening but even though i'm short i'm not comfortable. the market is thin and it can take an hour to fall 10 and retake the whole lot in a minute when it wants to.