Own Up All Spreadbettors Making £1K to £2K per Month at £1 to £2 per Point

[Zenda]

OK some people just don't give up - I think I'm never going to win - ( I said sometimes you don't get stopped out with finspreads) I think Big Business wants to make it a Hanging offence to be open - I think I would be better off just giving the support to those 50 odd people who have attended my workshops and the many that have purchased my beginners course on CD. and that is exactly where I will leave this subject!!

 

[bonsai]

Si tacuisses, philosophus manisses

 

[Finlayson]

John B

u know what they ''if u stick your head out of the crowd- u r bound to catch a few tomatoes''

surely it is good it has generated the interest.I believe most of the questions have come from honest intrigue..........not just trying to shoot u down !

Jay

 

[Bigbusiness]

John B, I am sorry if I have offended you. I seem to be getting in to the habit of asking too many questions. It is not meant to be personal, it is just in my experience if the actual price moves more than my stop loss, finspreads have stopped me out. Perhaps I am unlucky.

With a rolling cash bet, they stop me out if the actual stock or index hits the stop price. With a next month bet, I would imagine the spread would move further than the rolling bet price. So I was curious why they didn't stop you out. I wonder if they don't pay so much attention to small stake bets?

 

[JonnyT]

Hi Paul,

I wouldn't spreadbet such a share with that spread!!!

JonnyT

 

[Glenn]

There is nothing wrong with asking precise specific questions - otherwise what's the point of this web site ?
As Bonsai says, if no specific answers are forthcoming, people can draw their own conclusions.
Glenn

 

[rglenn]

If you are making money from your trades - then there is no real point in trying to convince anyone about if you are or not.

What does it matter? Unless you are trying to make money from your course rather than your trading.

It was very tempting to join this argument about whether you are making so much from so many points etc.

But as I am making money and thats all I am interested in - I don't have to prove it to anyone- as only my ego will benefit.

 

[sidinuk]

In my defense I would like to say once again that I do believe that John B's course appears to be excellent value for money given the amount of material that he proposes to cover. As John B says there is a lack of basic courses aimed at real trading at a reasonable price. Given John B's experience of spreadbetting I have no doubt that the course will help many beginners who have never spreadbet before avoid a lot of common mistakes that most of us made in the first few months (years!).

My objection was at the way this course was being advertising by stating that anyone could make £1-2000 plus every month spreadbetting. This to me implies that trading is easy. That simply is not the case. Even with the right knowledge many people will still lose money.

Unfortunately many people who have never tried to trade do believe that it is an easy route to vast wealth and simply do not understand the complexities of the business or the psychological pressures. In reality only a small minority are success and the majority will give up having lost money.

As most non-traders believe that trading is the ultimate get-rich-quick scheme then this is how most systems and courses are advertised. The advertising reinforces their own beliefs.

As someone else posted recently, "Trading is the most difficult way I know to make easy money". The psychological aspect of trading is immensely important. There are millions of different ways to make money from the markets and even more ways to lose it. Some work better than others at times but there is no one method that will consistently make money all the time.

Trading is about probabilities in the same way that a casino runs a roulette wheel. As a new trader to the market we are like the punter playing roulette, the odds are not in our favour. However with experience and the assistance of others we realise that we need to trade to a plan and eventually realise that we would be better off being the casino owner rather than the player. The casino owner knows that he has an edge, given a million spins of the wheel he'll be ahead. But occasionally a punter will get lucky and he'll experience a series of losses. Knowing that he still has the edge though, the owner will ride out the losses and eventually get back into profit.

So however we trade there will always be losses and their will always be drawdowns on capital. To say that you can consistently make £1-2000 per month every month doesn't make any sense. In reality one month you might make £5000 and then lose £2000 the next.

Implying that trading is like having a part time job where you get a nice credit in your bank account at the end of each month is simply not correct.

However I do accept that John B is in a difficult situation as the best way to get new traders on to the course in the first place is to play to their own sense of greed. But that doesn't make it right.

 

[sidinuk]

Skidog41, you are quite right I did congratulate John B on his own website for his honesty. I was congratulating his honesty in publishing his recent trading results which showed that over 40 trades he had lost 159 points.

Unfortunately these trading results have subsequantly been removed. Funny that.

 

[barjon]

I've been watching this thread with interest. A couple of people have praised John B's course and judging from the things they have said I am sure his course provides very sound techniques and very good advice. I am waiting for any of the 50 or so course attenders to post (surely some should be members of T2W) that they have achieved the advertised goal.

Traders who make good money consistently are dispassionate and have nerves of steel. You can advise about that, but you can't teach it. We all have sound techniques in our kit bags - it's applying them without letting our human frailty creep in that's the problem!!

To anyone who makes a living from trading - you have my admiration. I don't do so bad but I shouldn't like to have to live on the proceeds - wouldn't get me many exotic holidays!!

good luck and good trading however you learnt the business

jon

 

[bonsai]

Glenn
that's not quite the right translation.

 

[bonsai]

Hope there weren't any newbies short on this.
Its a beaut.
I have it at 537 +52 in the last 24 hours.
========================================
ABBEY NATIONAL SLUMPS TO HEAVY LOSS
Mortgage lender Abbey National has lost
£144m in the first half of the year
before tax, compared with a profit of
£412m in the first half of 2002.

The UK's second-biggest lending bank is
undergoing a major shake-up and selling
all non-core assets while refocusing on
its UK Personal Financial Services.

The three-year overhaul follows a
disasterous foray into investment and
wholesale banking.

 

[Zenda]

Update on that trade CAT

I was asked by email - if I still have an open position on CAT - Yes - but moved stop to Lock in 150Plus points today - we will see where it goes from here? letting ir run.....

oops forgot to attach image!

 

[Felix]

I am surprised at the level of response that this thread has generated. There does seem a lack of evidence other than isolated examples of successful trades made. I really wish more people had said it could be done but that just hasn’t happened.


Felix

 

[rglenn]

Felix

Don't loose heart mate!

Nothing is impossible.

It can be done without a doubt- but not in the way that has been stated.

Most of what's been said have been averages rather than actual daily figures- which is understandable- as you never get the same amount every day.

Don't expect the real pros to reveal their secrets though- as it has taken them a long time and a lot of sweat to get where they are today.

 

[Glenn]

Bonsai
Mine was not meant to be a literal translation - I used a bit of poetic licence.
I can see that you are using the verbs tacere and manere.
However I'm not familiar with the tenses in your phrase.
Perhaps you will enlighten us with your translation ?

Sorry if this is getting a bit off topic folks.

As far as the topic is concerned, personally I would not spread bet. The co's are there to make a profit.
Bargepole touch not a would I it with.
Glenn

 

[bonsai]

Glenn
check your mail

 

[darrenf]

Glenn

To be fair, every company is in business to make a profit. If the SB companies didn't make a profit we wouldn't be able to trade.

Equally, every institution that makes a market in any financial instrument is in it to make a profit. Again, if they weren't, we would have no liquidity, no market and nothing to trade.

 

[Glenn]

Darrenf
I agree with you.
It's the way they make a profit that I prefer to steer clear of.
Glenn

 

[Zenda]

Closed

Going to take the dog for a walk....