Sucessful Profitable Spreadbetting - The way I do it

hotbaz

Junior member
23 0
Hello

I am new to this forum and have read many posts with great interest, but thought it was time to put my personally comments about Spread betting.
It seems that you all require some success stories of profitable SP. I am not one of these.
I have been doing this on and off for over 10 years. Sometimes made big, but always lost out.

But recently my business collapsed so I had time on my hands - It was hard to get a job with my expertise (IT Systems developer) in the area I lived in so I needed to do something.

I scraped together £400 and went back into Spread betting using the CMC System. First let me say - I find this system excellent and is one of the best around. I now make a full time living from it making an average of £200 a day from it (still using the same £400 capital).

I keep promising to teach myself technical analysis, but never get round to it - I have sort of adopted my own method of reading charts.

If I was giving tips I would:-

a) Stay reasonably knowledgeable about the daily news.

b) Limit the number of instruments you trade with - I only trade UK100, US30 and German Indices and occasional Bent Crude Oil if I feel good about them - and that’s it.

c) Know the economic daily calendar - This way you will which events/news will move the market and approx at what times. So will see short term trend lines appears before and after each economical calendar event - like Non-farm payrolls and trade deficit balances etc

d) I only trade at £1 or £2 a point. Any bigger then the psychology of it all changes and you will panic more. I have proven this many times.

e) Always have stop loss positions on each - I always set around a 30pt stop loss and stop out early.

f) I try not to have positions open when I am busy doing other things - to many opportunities can me missed. The other day I took my family to the cinema - I missed the important 1:30 USD Initial Jobless Claims report - as a result i missed out on some big intraday profits as there were large swings.

g) Not everyone recommends this - but I watch the screen and if I feel the trend changing I back out and take any profits and then back in again in the other direction.

h) Do not be greedy, otherwise you will lose. Set the daily minimum amount you want to make and try and stick to it. On Friday I had may £243 by 9am in the morning - that was enough for the day - spent the rest of the day gardening and deep waxing the car.

i) If the first in/out trades are bad - i quit early that day, as I feel the rest of the day might be like that.

j) When you profit from a trade - take the money straight out (this is easy using the CMC system) so that you are back to your initial capital.

I am sure there are more, but these are just some simple rules I set myself. I basically trade trend lines - if its going UP then ride it up, if its going down,then ride it down - After a time you will feel when its running out of steam with direction. This is the time to exit. I can be in and out of trades several times an hour.

MAINLY STAY FOCUSED!
 

p-lab

Active member
189 12
Most refreshing.
You must have some insider knowledge / prop trader experience.

You can make a few bob selling top tips rather than giving them away! And for that I salute you
 

tomorton

Legendary member
8,314 1,308
I agree - refreshing, encouraging, contradicts some accepted wisdom, acknowledges the psychological risks and most importantly you're doing it profitably.
 

mik1973

Well-known member
290 13
So you regularly clear £200 a day from £1- £2 bets- seems very hard to beleive.

You've indiacted that your stop is around 30 points away - could i ask what your TP is and what your % of winning/losing trades are?
 

x4x

Well-known member
465 61
b) Limit the number of instruments you trade with - I only trade UK100, US30 and German Indices and occasional Bent Crude Oil if I feel good about them - and that’s it.

d) I only trade at £1 or £2 a point. Any bigger then the psychology of it all changes and you will panic more. I have proven this many times.


MAINLY STAY FOCUSED!

Wow, you made 120 - 240 points by 09:00 on Friday - that's very good, in fact it's positively exceptional - especially as none of them had moved more than about 20 points by 09:00. Perhaps Gay Crude Oil was the one getting all the action.
 
Last edited:

Big Stones

Junior member
13 91
p50116.jpg
 
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R.Charnock

Well-known member
400 124
Anyone consistently making £200 per day using £400 capital and £1 or £2 per point bets could easily scale up and become stupendously rich very quickly. So why hang around with all us T2W loosers?

PS. By the 'CMC System' do you mean the spreadbet provider, or is it your strategy?
 

DionysusToast

Legendary member
5,963 1,501
Yup - in fact, this is THE perfect formula.

Own proprietary chart reading method/trading technique - THE SECRET!
Only working half the day - allure of little effort
Being able to make a living from a starting capital of 400 quid - cast the net wide.

The only flaw I see here is that the OP fails to understand there's plenty of people out there that couldn't actually live on 200 quid a day.

I say re-word it, start with 1000 quid capital and say you make 500 quid a day.
 

DionysusToast

Legendary member
5,963 1,501
So far not a single 'wonderful' trader managed to back their claims with live calls (so far as I'm aware).

Hotbaz, why don't you try to be the first one to do it?:)

Posting live calls is one thing.

Posting live calls after announcing how hot you are - well, that's another thing entirely.
 

pboyles

Legendary member
8,072 1,302
Here we go again. No sooner have we seen through Taffie the prop trader than we have 100 points a day part time spreadbetter.

Hotbaz, I'd advise you give it up now, the outcome is going to rather embarrassing for you.
 
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