New to spread betting - New to trading !!

[Vaco]

its nice to see the new mumbers of the site getting together and sharing their experiences.

It seems to be a common theme between you all that you dont trust the companies you use to trade and this is going to mess with your heads.

Its very important in trading to take full responcibility for your actions and results, the sooner you do this the quicker you will climb the learning ladder.

If you are serious about trading and seriously dont trust the platform that you are using may i suggest that you open CFD accounts instead.

This will eliminate your fear of been done over by the spreadbet firm.

CFDs are regulated by the fsa so therefore no funny business leaaving you with only 1 place to look if it goes tits up (yourself).

I trade with cmc with a cfd account and although i have heard many similer stories to what you have described about their spreadbet platform i have never experienced these problems with their CFD platform.

Another advantage is that if trading non uk instruments eg us indices the minimum contract size is 1 cfd equal to $1 a point roughly 50p so you can get more trades in with less risk.

Good luck to all of you and welcome to T2W

 

[Trading2k]

Hey micmar,
I started out like this but as soon as your luck turns your in trouble. Its always a good strategy to plan your trades even mentally. Know where you are willing to enter and know your exit. Finger on the trigger is exciting but I could never handle it and after a few sleepless nights I started creating a plan before each trade. I also try and document it in a blog to keep me on the straight and narrow. Best of luck with oil, very volitile.

Have you read any of the blog posts on Paddy Power Trader, they had a good feature on oil.

 

[SalesFreelance]

Hi,
as you can see this is my first post as I am doing research into spread betting. One thing that I am very concerned with is when a few of the posters here say that the price always seems to be below where they can make a profit and when the sell to cut their losses the price rises to a value where they would have made a profit, if they had stayed in. They seem to be indicating that all is not correct with the system that spread betting companies use.Dose Spread betting companies not use the same price index as the market use's in other words when the prices change in the market place dose it automaticly change with the spread betting companies at the same time.
Thanks in advance.

 

[gle101]

Spread betting companies not use the same price index as the market use's in other words when the prices change in the market place dose it automaticly change with the spread betting companies at the same time.
Thanks in advance.

These days to movement of the SB feed reflect the movement of the real market. Not necessary the same figures, but the momentum is the same.

 

[jason0181]

SalesFreelance

Timing an exit is critical to spread betting, and what often happens, many people place the exit at the same place, or stop losses where the professionals know. These are usually very clear support and resistance levels, or whole numbers. When spikes occur many people get taken out, and then the price rallies, as so many have had to sell (limit orders, or stop losses), and then the price reverses.

Planning the trade, from Entry, Stop Loss, and Exit, as well as knowing how much profit you expect from the trade is very important. If the trade does start to go in the direction you hope, trailing the stop loss will help keep profits, as long as they are at sensible distances not to be tested too often.

By studing the trends and watching how prices move on certain markets will give you an idea of how things move. Forex markets are very fast moving, and you can easily see the swings and reversals that many people get caught out on.