Current market carnage - anyone selling or buying?

tg99

EdGasket wrote: »

Nevertheless approx 95% of spread bet accounts make a loss and the remainder are either professionals with inside information or the few people at the end of the distribution who by chance, haven't yet lost. CFDs are very similar to spread bets, both leveraged and short-term with future-dated prices and hence are not investments but gambles where even if you have average luck and win half your bets, you will still pay two lots of spread on each win-lose combination and hence lose overall.

You obviously have not researched in detail how spread betting actually works in practice and how it can be used as a long term investment strategy then if that is what you believe. As I have noted earlier, for starters, spread costs can be more than offset by tax savings for higher / additional rate taxpayers in the case of some investments. Obviously there will be many who use spread betting to gamble on short term price moves and on a leveraged basis which could end in tears if positions move against them but this is not the case for all who use spread betting despite what some people like to portray.

tg99

A_Flock_Of_Sheep wrote: »

It's worked alright for me for some while. Don't get me wrong I have had losses but overall it's has so far been a good experience. Plus you don't have to trade every day.

Where do you get the 95% stat from? If people lose overall then no one would do it

The 95% figure stated is highly questionable to say the least but would be happy to be proved wrong if there is a credible source for this. That said, overall, people using it to gamble on short term price moves likely do lose net of costs (one of the reasons it remains tax free), but people using it for these purposes do it because they believe they will be one of the winners.

A_Flock_Of_Sheep

tg99 wrote: »

You obviously have not researched in detail how spread betting actually works in practice and how it can be used as a long term investment strategy then if that is what you believe. As I have noted earlier, for starters, spread costs can be more than offset by tax savings for higher / additional rate taxpayers in the case of some investments. Obviously there will be many who use spread betting to gamble on short term price moves and on a leveraged basis which could end in tears if positions move against them but this is not the case for all who use spread betting despite what some people like to portray.

It's lack of knowledge. My mum was like that over credit cards. Thought they automatically meant crippling debt and bailiffs banging on the door.

This is why I have until now refrained from discussing any of my investment methods because they are not the mantra peddled here. Either by people's experience or perception based on hearsay. That's why this area needs more balance. This part for people getting their financial kicks from the funds and shares and a dedicated CFD spread betting area for those involved in that.

Spread betting actually offers a generous tax break.

A_Flock_Of_Sheep

CFDs and Spread betting are almost like dirty taboo words on here.

But it is deviating from the topic of the thread.

mollycat

A_Flock_Of_Sheep wrote: »

what's the point of the long haul to create even more wealth for when I am pushing 90? I may not live that long. At 90 how will I enjoy it? Buy a new comfy recliner every week?

I am a RMN of 30 years experience.

I specialise in Narcissistic Personality Disorder.

You could use (part of), your fortune to pay me for a private assessment.

If you wanted.

Just a thought.

Apologies in advance if you are already diagnosed.

gadgetmind

We pay off our credit cards 100% in full by direct debit. The CC companies need to make a profit and we're cool with others doing this for us.

Ditto the CFD companies. Please keep spinning the wheel and keep those profits coming.

EdGasket

tg99 wrote: »

The 95% figure stated is highly questionable to say the least but would be happy to be proved wrong if there is a credible source for this. That said, overall, people using it to gamble on short term price moves likely do lose net of costs (one of the reasons it remains tax free), but people using it for these purposes do it because they believe they will be one of the winners.

Try this link and read the last section:

https://en.m.wikipedia.org/wiki/Financial_spread_betting#Financial_spread_betting

The bookies themselves say only one in ten make a profit. These guys aren't in business to hand over money to you week in, week out for nothing. They make huge profits and earn big bonuses. Who do you think ultimately pays for that?

A_Flock_Of_Sheep

mollycat wrote: »

I am a RMN of 30 years experience.

I specialise in Narcissistic Personality Disorder.

You could use (part of), your fortune to pay me for a private assessment.

If you wanted.

Just a thought.

Apologies in advance if you are already diagnosed.

There's no need to be unpleasant.

A_Flock_Of_Sheep

EdGasket wrote: »

Try this link and read the last section:

https://en.m.wikipedia.org/wiki/Financial_spread_betting#Financial_spread_betting

The bookies themselves say only one in ten make a profit. These guys aren't in business to hand over money to you week in, week out for nothing. They make huge profits and earn big bonuses. Who do you think ultimately pays for that?

Well we all have a choice don't we. I'm quite happy with it just like you are happy with whatever investment methods or tools you use.

mollycat

A_Flock_Of_Sheep wrote: »

There's no need to be unpleasant.

Genuine offer, no unpleasantness intended.

Just to get started can you try Q1.

What is your most treasured possession....

A. Mirror.

B. Childhood Teddybear

C. Portfolio.

D. Diazepam tablets, (value sized pack).


ps To OP; sorry have wandered away from topic.....but it wasnt me who started it!:)