From successful Fixed odds FTSE/ WALL ST/DAX betting to first ever trading account.

[Range Finder]

Right I have been meaning to post this for a while so here goes.

I have been placing fixed odds bets on the FTSE, Wall St and the German DAX with a well known bookmaker and have been very successful. ( in my opinion anyway )

My best trading day so far was 862% daily R.O.I. for a few hours work and I have also achieved 1,125% R.O.I. over 3 days trading. Needless to say my account with said bookmaker is now as good as redundant. I have well and truly caught the trading bug and long to trade on a proper live trading account instead of through the bookmakers for obvious reasons. However this quote scares the hell out of me
"Spread Betting and CFD's are leveraged products and losses can exceed your deposit". I have also read that on rare occasions the price can move so far and so quick that "stops" may NOT be trigged. I have a few questions on this.

1./ Can anyone open an account with any trading firm or do they vet their applicants by way of Credit checks , experience etc.

2./ What are the realistic chances of my stops not being trigged and incurring losses which exceed my initial deposit.

3./ What are the chances of making returns as stated above with a small but proper live trading account taking into account fees and such like.

4./ Are you allowed to actually win / make money with these companies as I know from experience that the bookmakers hate winners.

5./ What would happen in the event that my losses exceed my initial deposit and I end up owing a trading firm money which I do not have ? Court, Prison, Bankruptcy ?

I appreciate that some of my questions may well have already have been answered in part or in full on the site but I am looking for personal confirmation before taking the giant leap into the unknown. Many thanks in advance for any advice and help offered.

Range Finder

 

[seti2]

had have long time experience

hi
i trade spread betting since 1999 and i involve in every thing you could imagine
and i will give you answer to what you asking for

1-some they do credit check some no and that could affecting your application and no experience check as this no important

2-stop losses could be away few points and nothing more and this could affecting on how the size of your bet ,if your size £10 per points so that mean 50 60 pounds more but if your size big like £200 or more ,the result will be bigger and nothing serious about the stop because most of the companies now not like before .they will close your position and you and them safe because they make sure you have money and margin on your account before you open that trade and even there money left on your account because most of them now close at 80% of your balance

3-to make money by spread betting and ccd unlikely because what you win today you will lose them tomorrow unliky to make good return unless you size bet is big and when you lose you loose big as well

4-if you win your account will close shortly like me as they close my account just few days ago because i f'''' cked by £20000,and that doesn't suit them

5-you could not imagine how they rude and they will use every thing to get their money back (bankruptcy first option to them and if you have nothing court and send bailiff to your house and so on and of course that by their own ruse solicitors who will treat you like badly and don't think any one or the company will listen to you until their money back

 

[sportbilly]

Hmmmmm....intersting reading!