Looking for a good Spread betting advisory service for Indices and currency trading

[SilverVixen]

I keep losing money! I am following FTSE, DOW , Cable and Dollar/euro on a day to day basis. Does any one know of a good advisory service with an audited trade history that would give me recommendations on the above markets. I could probably start one myself giving contra recommendations to the trades i take myself.The bank is getting smaller by the day and i could really do with some help. Come on you guys help out a lady in need.

 

[JTrader]

Hi SV

you're willing to place your hard earned cash at the mercy of the opinion of a complete stranger. Wow!!

 

[Hoggums]

I keep losing money! I am following FTSE, DOW , Cable and Dollar/euro on a day to day basis. Does any one know of a good advisory service with an audited trade history that would give me recommendations on the above markets. I could probably start one myself giving contra recommendations to the trades i take myself.The bank is getting smaller by the day and i could really do with some help. Come on you guys help out a lady in need.

Time to stop trading! I wouldn't reccomend any advisory services as they often don't work - or focus solely on pips and do not cover money management. I suggest you open a demo SB account and trade that until you've worked out a profitable strategy.

There really is no easy answer - time to buckle down and do some homework, read a few books, read these boards.

 

[jacinto]

Time to stop trading! I wouldn't reccomend any advisory services as they often don't work - or focus solely on pips and do not cover money management. I suggest you open a demo SB account and trade that until you've worked out a profitable strategy.

There really is no easy answer - time to buckle down and do some homework, read a few books, read these boards.

this is good advice. i would just add that you should not try to cover all the markets until you can trade 1 market profitably and probably 2 (i.e. not FX and Index but FX and FX or Index and Index)

 

[SilverVixen]

I know that the whole advisory thing is a little shady thats why i was asking for audited results. There must be someone out there who is offering good reliable advice.I have heard that there are companies who text out recommendations with entry price stop loss and target price.Does anyone of you know of any such enterprises.I need someone to do the TA for me and i execute the trades.Ever hopeful. SV

 

[JTrader]

I know that the whole advisory thing is a little shady thats why i was asking for audited results. There must be someone out there who is offering good reliable advice.I have heard that there are companies who text out recommendations with entry price stop loss and target price.Does anyone of you know of any such enterprises.I need someone to do the TA for me and i execute the trades.Ever hopeful. SV

I think you might be living in a fantasy land if you think it could be this easy It would be great if things could be that easy to make money.
Would you be really happy placing trades blindly, not knowing the reasons/methodology behind the signals...

 

[jacinto]

I know that the whole advisory thing is a little shady thats why i was asking for audited results. There must be someone out there who is offering good reliable advice.I have heard that there are companies who text out recommendations with entry price stop loss and target price.Does anyone of you know of any such enterprises.I need someone to do the TA for me and i execute the trades.Ever hopeful. SV

then i suggest you google the topic but always using the word reviews, you should find at least 2 or 3 sites that do that with reviews of users.

it is not the path i would take, but its your money.

j

edit: you will find that most people here dont use that.

 

[fibonelli]

Hi SV,

You'll lose the rest of your trading capital much more quickly with the broker churning your account to earn huge commission charges.

Assuming you have backtested your strategy, are psychologically comfortable with your strategy and that many of your losses were not caused by stops being too tight. It would be better to learn about TA. When you re-start, consider if it is practical to reduce position size and/or increase timeframe until you are able to start slowly increasing your profitability. Also, think about changing some of the instruments you trade.

Good luck

Fibonelli
(a fellow newbie)

 

[SilverVixen]

Right i am going long on the FTSE at 6450..what do you think. Will this be another losing trade for me and if so why.

 

[SilverVixen]

well i am out of that...another loss. I am going to reverse the position.

 

[rnl16616]

It seems like you are trading on intuition - likely to get highly variable results. If you are not keeping records about your trades [why you opened a position and then why you closed it] there is very little chance you will improve your results.

I would suggest that you read: http://www.babypips.com/school/ it is a very good primer that will help you understand a bit more about FX but the ideas are equally applicable to trading Indexes. You need to have a clear idea about entry, exit and stops BEFORE you enter a trade but also about risk, reward and position size.

Some of the advice you have received here already is worth seriously considering and acting on as you seem impatient for positive results and it is unlikely to be that easy for you. A golden rule for any aspirant is: protect your capital. You need to consider that as you seem on course to lose it all. Now is the time to change.

Good luck.

 

[SilverVixen]

I think its back to basics for me.I am just looking at dollar yen. I want to go long if it goes above holds above 120.50. What do you think?

 

[JTrader]

Right i am going long on the FTSE at 6450..what do you think. Will this be another losing trade for me and if so why.

...............

I think its back to basics for me.I am just looking at dollar yen. I want to go long if it goes above holds above 120.50. What do you think?

STOP RIGHT NOW!!!!


Hi SV

I'm going to be bluntly honest....you DO NOT seem to have a CLUE what YOU ARE DOING!!!

Why not spend some time doing some learning, instead of flushing money down the toilet right now :idea: .
Believe me, once you have "educated" yourself, being profitable will be FAR FROM EASY.
Therefore trading CLUELESSLY as YOU PRESENTLY SEEM TO BE DOING - is a SUREFIRE way of LOSING!!!

Good luck.

 

[Hoggums]

well i am out of that...another loss. I am going to reverse the position.

I'm guessing you got stopped out of that position too?

I've looked at the FTSE chart for this morning and I can't comprehend why you went long at 9:30 - there is certainly no technical evidence there. Do you really have a method or are you "guessing"..?

You should never reverse a position that is in a loss - it's a sure fire quick way to bust.

Stop trading, you're throwing away money.

 

[SilverVixen]

Thanks guys. Now you see why i need an advisory service.Back to the virtual trading for me i think.

 

[JTrader]

Thanks guys. Now you see why i need an advisory service.Back to the virtual trading for me i think.

How about sticking your spare cash in a high interest savings account?
That sounds like a much better option than the advisory service - IMO.
If you still want to trade, do your homework in the meantime.

 

[SilverVixen]

I have made money today on the ftse reversal.I thought it would find support at 6450 but did not. I then thought as it has gone through that support that it did have some downside. I was right on this one. The dollar yen trade again, i do feel if it had gone above the 120.50 area then there was some potential to the upside. This did not work...but it may later on today.I don't understand why the whole reversal issue is a bad one. The markets are either going up or going down, surely its just a matter of being on the right side of the movement. On a different note as anyone heard of Dow Stomper.An american outfit that stomps on the dow i presume.Also had a recommendation from a friend who said i should look at Elm trader. Anyone heard of these.

 

[trendie]

subscribe, for FREE, to this guys videos.
very entertaining, loud, and funny. he is quite passionate about trading.
(he has started, of late, to push for "gold" and "silver" membership, but still its free)

he analyses what he thinks is going to happen, explains why, so no blind-following, gives approximate entry and exit points.

STOPS ARE IN!! - EMOTIONS ARE OUT!!

I am not a member of his Omni club, or on commission. I trade some of his SP500 recommendations.

Also; there are so many of his videos online, you could do an analysis of how often he is accurate. worth it over the weekend. And no, I am not going to tell you - do you own work; it will mean more if you do.

Other benefit, its just a single trade per day, so no itty-bitty stuff.

 

[fibonelli]

Right i am going long on the FTSE at 6450..what do you think. Will this be another losing trade for me and if so why.

Hi SV,

I saw no reason for going long at 6450. Although 6450 was support (Feb07 high) all moving averages and oscillator and momentum indicators were in a downward and/or bearish orientation. I've marked the area above 6450 in light blue. You can also see how the FTSE100 fell through many support levels.

I'm pleased that you reversed your position. But, I would also urge to STOP trading and go back to studying TA. Remember, the markets will always be open.

Good luck

Fibonelli

 

[SilverVixen]

some profit at last

Have a look at this. www.analyst-online.com They do a two week trial. Been following since Monday and it seems to be rather interesting.They charge £75 for the first two months and then after that its just £50 a month.Got 150 points on Dow yesterday. Then lost 20 points on a quick reversal that they went in to on the basis it was sitting on the moving average.They did state it was a bit risky so i left it alone.They are using some charts which i don't recognise using weekly diff and average to calculate what levels to be aware of.The analysts seemed to be of very good pedigree too. Anyone out there heard of this outfit or have any feedback.
P.s thanks guys for all your advice.