Spread Betting Help

[Pete007]

Hi Guys,

This is the first time on the site and I think it is very interesting to read comments on the techniques that people try to take money out of the markets.

It’s surprising the bad press that Spread Betting receives I’m into it in a big way, I have found it difficult to make a living yet when you consider that a bet can be from £2:00 to £1,000:00, and only keeping the bet on from 10minutes to a couple of hours my aim is TEN points profit then I think it’s got huge potential to make real money.

I have enclosed my spread sheet of my bets, if I can control my stop limit then I can make a serious amount of cash it’s not easy but if making money was then everyone would be at it.

I would like to hear your comments after you have opened the Spread Sheet.

If I can be of further assistance please do not hesitate to contact me.

Good Luck

[email protected]

 

[Racer]

Your losses are higher than your target gains
10 points profit is tight if you are dealing with speadbetters cos of the way they skew the price.. you have to be able to deal with that as well

 

[Pete007]

Hi Racer,

Thanks for the advise the SB Company I use put's a 7point charge for a controlled risk bet so my target is a min of 17 points it can be done. I think my attitude needs to change when I see the market moving against me I have to get out a lot sooner, it's not the taking part that counts it's the wining that counts by thinking that it may turn in my favour cost's me.

I think in the short term I need to focus on the charts and trusting what they are telling me.

pete007

 

[Racer]

7 points on top of what spread?

 

[DanBlystone]

Spead Betting Features

Surprising that you can use stop orders and be short in the spread betting market- be careful though you can lose more than your initial account deposit!!

__________________
Dan
www.TradersLog.com

 

[Hoggums]

Hi Guys,

This is the first time on the site and I think it is very interesting to read comments on the techniques that people try to take money out of the markets.

It’s surprising the bad press that Spread Betting receives I’m into it in a big way, I have found it difficult to make a living yet when you consider that a bet can be from £2:00 to £1,000:00, and only keeping the bet on from 10minutes to a couple of hours my aim is TEN points profit then I think it’s got huge potential to make real money.

I have enclosed my spread sheet of my bets, if I can control my stop limit then I can make a serious amount of cash it’s not easy but if making money was then everyone would be at it.

I would like to hear your comments after you have opened the Spread Sheet.

If I can be of further assistance please do not hesitate to contact me.

Good Luck

[email protected]

Unfortunately as you are experiencing - huge potential to make money equals huge potential to lose money also. Your accuracy of bets is less than 50% which means your profitable bets should generate more money than your losers lose. However you method has this the other way round.

Firstly I think you need to look at your trading method, try to back test it on data to see if you would have made a profit in the past. Secondly consider moving to non-guaranteed stops as the extra spread on them is contributing to your losses.

 

[Racer]

Pete you are trying to scalp with the wrong setup, your costs are way to high to do this method using spreadbets

 

[Pete007]

Racer

I can see why you think that, short term I need to push up my win to lose ratio to over 50% which I'm confident I can do. However I feel I need to reduce my stop limit and get out of the market sooner, this would be a good overall target.

Long term my plan was to offer to friends and family the chance to speculate with a small sum for example £300.00 with a £2:00 bet working on the 10 point profit £20:00 return a day a £3 to £400:00 return a month.

One can dream I suppose

Cheer's Pete007

 

[Pete007]

Surprising that you can use stop orders and be short in the spread betting market- be careful though you can lose more than your initial account deposit!!

__________________
Dan
www.TradersLog.com

Hi Zing,

It gives me peace of mind mate that I can at present only lose 30 points max with fixed costs I can budget a little better, I could widen my limit but higher costs it's a trade off

Cheer's Pete007

 

[Pete007]

Unfortunately as you are experiencing - huge potential to make money equals huge potential to lose money also. Your accuracy of bets is less than 50% which means your profitable bets should generate more money than your losers lose. However you method has this the other way round.

Firstly I think you need to look at your trading method, try to back test it on data to see if you would have made a profit in the past. Secondly consider moving to non-guaranteed stops as the extra spread on them is contributing to your losses.

Hello Hoggums,

Using spread sheets and charts to monitor my progress can very quickly spot bad trends because I intra-day I do need more experience and time to test data

Your quote is interesting

Pete007