Spread betting

sabretoothtigger

You been with them long chris? I could have referred you maybe ,they are ok ive found

chrismac1

Just signed up with them last week, tempted by their Investors Chronicle ad and the zero spreads on some markets I trade in.

cepheus

chrismac1 wrote: »

Just signed up with them last week, tempted by their Investors Chronicle ad and the zero spreads on some markets I trade in.

I suspect all those spreads will add up in the long run.

How do Worldspreads make their money with zero spreads, surely they need to hedge on the futures or some related market which contain a spread? Watch out that the mid price of the index accurately reflects the futures. It's not much use if they fudge it in the anticipated direction or charge in some other way, they are effectively created a spread by doing that. I doubt if you would do any worse than a proper futures platform for these.

experience08

chrismac1 wrote: »

This week I will be placing my first bets without spreads with Worldspreads platinum account

"Free guaranteed stops" sounds interesting.

EDIT just read you don't get the £300 cash back with the £5k PLATINUM
ACCOUNT

chrismac1

I am not worried if they try to frig their prices. I have four other accounts, all funded, so simply open positions with the best price at present and will continue that in future, expecting Worldspreads to be the best most of the time. But not always. For about 30 minutes last Friday 5th CMC were THIRTY points below the other spread bookies on UK100 cash bets, I doubt if Worldspreads could match that!

grey_lady

I've read a couple of books on this, both spreadbetting and swing/medium term trading - the basic principle i've seen - is obviously have a plan, which includes criteria based on fundamentals and charts to pick your shares/bets etc

But, once you've 'bought' say 6 shares over a few days, a couple will drop - they might hit your pre-determined stop loss and you sell, a couple might not do much and you decide whether to hang onto them for a while longer or sell, but 1 or 2 will make you a profit.

My problem was trying to do this with only 1k, fine for say 6 'buys/sells' of company shares but not for gold, when your losing £40 a second and your automatic stop loss is triggered by some random dip in the underlying market - it kinda puts you off :-)

I would like to give it another go, but probably with more capital.

BTW I was using Finspreads which seemed fine.

cepheus

Surprised you cant bet less, Capital Spreads, CantorIndex, DeltaIndex, MF Global Spreads, ODL Markets Spreadex and WorldSpreads quote gold to one decimal place. http://www.financial-spread-betting.com/Trading-gold.html

EdGasket

blinko wrote: »

The reason i am down in spreadbetting is because i take priofits too quickly and let losses run too long. I look back and think how stupid I am.

If you are new to investing spread betting I recommend doing small stakes eg £1pp etc, it will save you alot of money in the long run

for the me the main advantages of spread betting is leverage and tax free gains other than that its just a fancy way of getting exposure to whatever share/asset you want

It's easy to make money in hindsight; anyone can; so don't think yourself stupid on that count. What is a little stupid is saying the 'advantage' is tax free gains when you are making a loss. The reason they are tax free is that most people make a loss and HMRC don't want betting losses offset against capital gains elsewhere; that is the only reason that gains are tax free. HMRC know the score!

mallard76

sabretoothtigger wrote: »

You been with them long chris? I could have referred you maybe ,they are ok ive found

Hello there, I'm considering singing up to worldspreads. Would you be interested in splitting the proceeds and how ?

The only thing that bothers me is whether I'll qualify for £300 cashback if I'm referred. Can you check and pm me ?

trebor21

It is definatly not for the faint hearted, you can be making big money one minute it loosing it the next. Reduce your point size and keep your stop loss at a reasonable distance away, charts can help you determine support levels. Set the stop a bit below any support level, as quite often they bounce around that support level, before rising again or falling further which is when you want to be definatly out! If your trading dailiy then first thing and at 2.30pm is when everything starts to happen, america opens and we tend to mirror them!