Where are the successful spreadbetters?

Feb 17, 2003
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Chippenham
#1
Having been trading on and off for 7 years I have only lost accounts. I've tried so many systems but spread betting to me seems to be about how long you can keep your account intact before you lose it all.

I'm interested in hearing from anyone who has been trading successfully for 3+ years and any advice

Cheers
D
 
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Splitlink

Well-known member
Nov 18, 2001
10,850
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#2
I've done better investing in a portfolio, long term. However, some progress has been made in spreadbetting.

Firstly, do you feel that you are getting screwed or do you accept that losses are your fault?

If it is the latter, I don't think that you would do better with DA. I, on hindsight, know when I make a mistake. For instance, this morning has been difficult for me. I have made four trades, very close stops, lost on three trades and am a few points ahead on the fourth. All my fault. Tomorrow's another day.

Split
 
Feb 17, 2003
5
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Chippenham
#3
No its not that I've been screwed. I've never had a bad trading issue with any broker.
From my experience I win I loss I try different systems BUT eventually lose.

95% of spread betters lose, so nothing new here... But my question is where are the successful traders if any?

7 years is a long time to constantly loose and I just think Human emotion is something that cannot be avoided which I blame for my losses. If we didn't have emotions we would be DEAD!

D
 

Lee Shepherd

Well-known member
Feb 12, 2008
2,165
570
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#4
I'm here, 4+years indices trading and 10 years prior stocks trading.

It sounds like from both your posts you have a problem with accepting its your fault, even if you doubt this then question why you state that 95% of spreadbettors lose, is it any different with DA, you also ask for specificly spreadbettors, again, is it any different going DA.

As for advice:

Go over your paper work and check the trades that you made. It's very possible you gave up on a good strat when it went through a bad period only to pick up another one and trade that equally bad with bad timing.

Remember, we all see the same prices and at the same time, this is true for all traders all around the world, so ask yourself, why does one person win consistantly and another lose.

This can also be attributed to the popular game of poker, more people lose than win, this happens year in year out and every single day, yet, the same people consistantly get near or at the top of the tourny boards. Surely the game is not rigged, they all get random cards yet it is not the cards you get....its how you play them.

Good luck
 
Feb 17, 2003
5
1
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Chippenham
#5
Lee,

Not at all. I accept all loses myself. I do not blame the market or anyone else.

I have taken a £1000 account to over £8000 in the space of 5 months, however as soon as I get a bad run of loses,(which again I accept and know its part of the game), then I try to get the account back up quickly by increasing the risk.

I know Patience, discipline etc are required BUT I just seem to let these essential rules go out of the window.

Maybe my character just isn't right for spreadbetting?

How do you cope with a poor run of loses?

D
 

RedGreenBen

Active member
Nov 17, 2007
268
52
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#6
How do you cope with a poor run of loses?

D
I know this was addressed to Lee, but for what it's worth...

I know that I have a historical Win Ratio (WR), I also know - with a bit of O-level maths - when my run of poor losses deviates statistically significantly from this WR.

Until this threshold is exceeded it is just 'noise' and should return to the mean over a sufficient number of trades. It is boring, but interesting, to do the maths. e.g. With a WR of 50% you can expect to get some stroke-inducing drawdowns, when you know these are a normal part of the system performance then it does wonders for the state of mind.

Ben
 
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Lee Shepherd

Well-known member
Feb 12, 2008
2,165
570
123
#7
RedgreenBen has said what I would have said.

As for patience and discipline ect, if you dont posses these then you're right, trading is not for you.
 

Xeno

Active member
Feb 26, 2008
244
34
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#8
Lee,

, then I try to get the account back up quickly by increasing the risk.
D
There's the answer. Unless you can sort your trading psychology out you'll always lose in the long run. I had a few losses last week. Stopped trading. Read some trading books (again, that I hadn't read for a while) Analysed my losses and worked out whether my system needed tuning - came up with a couple things, started again this week, all is good again.

Seriously, the time off really works for me - work out what would work for you - why would you want to do otherwise? You have a big advantage in that you have a load of losing trades to learn from ;-)

cheers
 
Feb 17, 2003
5
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Chippenham
#10
Some very interesting replies. Thanks.

As for all you winners, are you trading for a living after 3+ years?

D
 

fibonelli

Well-known member
Oct 1, 2006
1,338
288
93
#13
Lee,

I have taken a £1000 account to over £8000 in the space of 5 months, however as soon as I get a bad run of loses,(which again I accept and know its part of the game), then I try to get the account back up quickly by increasing the risk.

D
It's very simple. You are wildly overtrading a £1,000 a/c.

If you haven't already done so, calculate your risk of ruin.

You should not risk more than 2% on any one trade.

To do this, either, put in at least 50 times the typical risk per trade into the a/c to get your risk per trade below 2%, or you risk no more than 2% of the £1000 a/c.
 
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RedGreenBen

Active member
Nov 17, 2007
268
52
38
#14
Some very interesting replies. Thanks.

As for all you winners, are you trading for a living after 3+ years?

D
I'm not in a position to call myself a 'winner' but the facts are ...

Milestone 1 - Stop losing money, took just under a year.
Milestone 2- Make a McWage, 6 months into this and about to tick the box.
Milestone 3 - Make a living wage, probably another 6-12months.

So after 2-3 years I still won't be making as much as I did in my old job, but I should be confident of being able to scale-up to a very good income whilst retaining the flexibility that initially attracted me to trading.

I have never risked more than 2% per trade. I also collect data on every aspect of my trading and analyse it until my eyeballs bleed. I'm not trying to sound smug, I am just trying to hint at the steepness of the curve.

Ben
 

chilltrader

Well-known member
Jan 6, 2008
1,296
115
73
#15
Interesting post. Could you please share on how/what do you analyse your trades?

(y)



I'm not in a position to call myself a 'winner' but the facts are ...

Milestone 1 - Stop losing money, took just under a year.
Milestone 2- Make a McWage, 6 months into this and about to tick the box.
Milestone 3 - Make a living wage, probably another 6-12months.

So after 2-3 years I still won't be making as much as I did in my old job, but I should be confident of being able to scale-up to a very good income whilst retaining the flexibility that initially attracted me to trading.

I have never risked more than 2% per trade. I also collect data on every aspect of my trading and analyse it until my eyeballs bleed. I'm not trying to sound smug, I am just trying to hint at the steepness of the curve.

Ben