Spread betting!

inversions

I'm being careful and am now £232 up. I now have put £1000 in and have a balance of £1232. Not surprising given the initial sentence.

I have two open bets that are currently running at a combined loss of £16.34.

brendon

BillJones wrote: »

I used to use it for my stock trading (as it's capital gains tax free), but regulations stop me doing that now.

You are not using it to trade stock. At no point do you ever own stock/options. I hope you have filled up your (N)ISAs and exceeded your capital gains tax allowance, otherwise you have no reason to complain about tax.

Masomnia

inversions wrote: »

I'm being careful and am now £232 up. I now have put £1000 in and have a balance of £1232. Not surprising given the initial sentence.

I have two open bets that are currently running at a combined loss of £16.34.

Glad it's going well.

I couldn't resist GBP/USD this week. Gone ok, but I can't risk too much.

Don't get greedy! That's the key I think.

bowlhead99

Masomnia wrote: »

Glad it's going well.

I couldn't resist GBP/USD this week. Gone ok, but I can't risk too much.

Don't get greedy! That's the key I think.

Yes, I picked up some weekly options expiring 19 Sept, so I have an absolute known and limited risk but the opportunity to make money both directions with a put at 1.61 or a call at 1.63. Obviously only one of them will end in the money but I think the rate will swing one way or the other during Thursday and Friday. I didn't time it perfectly (could have got another 100+ points for the same price if I'd held off on placing the call) but hopefully good enough. I have more money on the call because I think a no vote will transpire.

Just a bit of fun rather than my life savings but does give a bit of a hedge to my USD cash and investment fund assets if GBP strengthens significantly this week (driven by economic data or a No vote or both), or alternatively some free cash compensation for our losing the Union if that happens and GBP weakens a lot as a consequence!

inversions

Masomnia wrote: »

Glad it's going well.

I couldn't resist GBP/USD this week. Gone ok, but I can't risk too much.

Don't get greedy! That's the key I think.

I think that is the point. In fact I know it is. This is not a get rich quick scheme but a way of gambling that is more reliable, assuming sense is followed, than any other that I have found.

Now £253 up but with a single open bet that is £9.87 down.

inversions

Not visited MSE since my last post. Generally kept my risk low and been happy making small amounts. I'm now up to £746 profit but my open bets are down £327 with one ending on Dec 14th that looks like it's going to loose me around £70 if my reading of the market is correct!

Found my self getting cocky/greedy/stupid, had a word with myself. Keeping it small and happy with making £10-20 on a deal. At one point was close to going bust so I've learnt my lesson and pumped way more in than I need to to cover fluctuations and not gambling on anything that seems to fluctuate very wildly. I'll track a share price for a while before I bet on it and read/listen to the economics news.

Keep it small and it seems to work. Resist temptation.... I could have been a lot more up and made some dodgy decisions of when to close some bets. Still learning. Always remember that IG make a lot of money.....

gadgetmind

inversions wrote: »

Always remember that IG make a lot of money.....

Last week, my wife received a few hundred quid from IGG by way of a dividend payout. Yes, they make a lot of money, and I hope they continue to do so.

inversions

Keeping it calm. Now £1013 up but with open bets down £312.

longwalks1

inversions wrote: »

Keeping it calm. Now £1013 up but with open bets down £312.

Keep up the good work Inversions, I too am relatively new to SB, and doing well (in my eyes). I'm on average making 60-70% of my weekly salary from spread betting, while still working a 5 day week. I'm very pleased, and so should you be. Dont get greedy (you dont sound like you will), and always use a stop, its better to lose 20 points that it run away and you hold onto a 200 point loser (it DOES happen)

i love it, and hold my trades from anywhere between 3 or 4 minutes to an hour or 2 the majority of the time. What do you bet on?

spender

Any update inversions?