Hi All,
I am like many others really enjoying this thread. The difference of opinion and various approach's to the financial markets are both stimulating and seriously interesting. I have never traded financials and am still getting to grips with donkey trading first and maybe financials later....
By a stroke of rather sad luck I found myself managing some funds for the familly in 2008 just as the banking crisis hit the streets. Realizing I knew sod all about any of this and felt I ought to, started reading around the subject, got to trading/investing et al.
I for one would love to see a live "this is what I tried to today" thread with examples for all of us curious to learn and understand more... As one poster said the market is gargantuan and open to all. But it does appear to honour winners and crucify losers... a very real challenge...
luck to all,
Groovy
Spread Betting
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andyfuller
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Can't say I know the reasons why but a company I was tipped a while back was Range Resource Limited and was told to get back in a couple of days ago.Groovyelms wrote:I for one would love to see a live "this is what I tried to today" thread with examples for all of us curious to learn and understand more... As one poster said the market is gargantuan and open to all. But it does appear to honour winners and crucify losers... a very real challenge...
I don't trade horses by tips with no reasoning and I don't plan to trade shares by tips with no reasoning, though with hindsight I wish I had this time
http://www.bbc.co.uk/news/business/mark ... _month.stm
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superfrank
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I got tipped Medusa Mining at 220 (http://www.bbc.co.uk/news/business/mark ... _month.stm) but like you I find it hard to follow tips blindly as I know others that have lost small fortunes that way.
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superfrank
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I saw an ad for this while watching Doomberg today... I don't think it's a new offer, but you can't complain at zero spreads! (Platinum Account requires min initial deposit of £5k).
http://www.worldspreads.com/en/Spread-B ... reads.aspx
http://www.worldspreads.com/en/Spread-B ... reads.aspx
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Groovyelms
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That link looks interesting, I am off to seminar next week on the basics of forex, and i'll scribble something up after it. looking at various threads and u tube missives it seems you would need a fairly hefty account to make good money at it and be able ride out the inevitable lossing trades. Regarding the above link I am not clear how they make their money??? any suggestions or is it just me being thick 
luck to all,
Groovy
luck to all,
Groovy
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superfrank
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It's only on the most popular markets and bear in mind that the average person who 'trades' using spread betting is not Peter Webb and they can't lose.Groovyelms wrote:Regarding the above link I am not clear how they make their money?
A great promotional idea for getting new business and it sounds like a fab offer assuming there isn't a catch.
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Groovyelms
- Posts: 277
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Hi All,
I recently attended a free seminar run by IG Index on the basics of forex trading, presented by their chief market strategist "David Jones". It was very good, well presented with a live link projector set up to IG's trading platform. Interestingly I was the only non account holder there but found it easy and informative to follow. I also spoke to several attendees including one guy who had gone full time about 6 months previously and claimed it was going really well. David Jones himself is funny and immediately endeared himself with the following question to the audience:- anyone heard of the Elliot Wave or Stochastics? a forest of knowing hands shot up... all nonsence says David..this made me giggle as he is a "qualified Technical analyst", so I was expecting a bit of complicated mumbo jumbo...nope non of that, he then went on to present some simple analysis/strategy based on support and resistance...I have just finished his book "spread betting the forex markets" and now know a good bit more than I did.
Overall it a was good evening with decent snacks and a very reasonable glass of wine to boot.
It would be interesting to hear comments from other forum members if they attend something similar. IG do give the impression of being very professional and made it clear that could accomodate the big hitters along with more modest accounts.
luck to all,
Groovy
I recently attended a free seminar run by IG Index on the basics of forex trading, presented by their chief market strategist "David Jones". It was very good, well presented with a live link projector set up to IG's trading platform. Interestingly I was the only non account holder there but found it easy and informative to follow. I also spoke to several attendees including one guy who had gone full time about 6 months previously and claimed it was going really well. David Jones himself is funny and immediately endeared himself with the following question to the audience:- anyone heard of the Elliot Wave or Stochastics? a forest of knowing hands shot up... all nonsence says David..this made me giggle as he is a "qualified Technical analyst", so I was expecting a bit of complicated mumbo jumbo...nope non of that, he then went on to present some simple analysis/strategy based on support and resistance...I have just finished his book "spread betting the forex markets" and now know a good bit more than I did.
Overall it a was good evening with decent snacks and a very reasonable glass of wine to boot.
It would be interesting to hear comments from other forum members if they attend something similar. IG do give the impression of being very professional and made it clear that could accomodate the big hitters along with more modest accounts.
luck to all,
Groovy
Completely agree with him!Groovyelms wrote:David Jones himself is funny and immediately endeared himself with the following question to the audience:- anyone heard of the Elliot Wave or Stochastics? a forest of knowing hands shot up... all nonsence says David..
I'd be wary of using support and resistance levels to trade though - IMHO, they are only knowable with hindsight, and even then there is a lot of scope for interpretation.
Jeff
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superfrank
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I wrote to WorldSpreads this morning and suggested that they develop a ladder style interface for their zero spread markets. It has been forwarded for consideration.
It would be fab if they did it... no transaction costs and decent software (a winning combination!).
It would be fab if they did it... no transaction costs and decent software (a winning combination!).
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andyfuller
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- Joined: Wed Mar 25, 2009 12:23 pm
Groovy - as you were a non account holder when you went on your seminar were there any issues? Did you have to sign up for an account in the end?
With regards to world spreads I am guessing they make their money on the zero spreads as Superfrank said by people just losing money and WorldSpreads not hedging the position? I would have thought though that if you are a Premium customer putting in £5K you would surely have a bit of a clue about what you are doing?
With regards to world spreads I am guessing they make their money on the zero spreads as Superfrank said by people just losing money and WorldSpreads not hedging the position? I would have thought though that if you are a Premium customer putting in £5K you would surely have a bit of a clue about what you are doing?
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andyfuller
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Just been doing some back ground reading and it seems scalping is not looked upon favourably with the zero spreads, it seems to be looked upon as High Frequency Trading.superfrank wrote:I wrote to WorldSpreads this morning and suggested that they develop a ladder style interface for their zero spread markets. It has been forwarded for consideration.
It would be fab if they did it... no transaction costs and decent software (a winning combination!).
Define scalping. 
Are you talking about trades where you aim for, say, 5 pips? If so, I'm not sure you want to be spread betting, as there's a good chance that the spread will kill you!
I've used Capital Spreads, and they make it so that the market must have travelled x pips in your favour before you can put in an order that means that, in the worst case scenario, you break even. If other companies operate likewise, it may make quick scratching difficult.
Jeff
Are you talking about trades where you aim for, say, 5 pips? If so, I'm not sure you want to be spread betting, as there's a good chance that the spread will kill you! I've used Capital Spreads, and they make it so that the market must have travelled x pips in your favour before you can put in an order that means that, in the worst case scenario, you break even. If other companies operate likewise, it may make quick scratching difficult.
Jeff
andyfuller wrote: Just been doing some back ground reading and it seems scalping is not looked upon favourably with the zero spreads, it seems to be looked upon as High Frequency Trading.
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andyfuller
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- Joined: Wed Mar 25, 2009 12:23 pm
The spread is Zero tho Jeff.Ferru123 wrote:Define scalping.
andyfuller wrote:Just been doing some back ground reading and it seems scalping is not looked upon favourably with the zero spreads, it seems to be looked upon as High Frequency Trading.