Spread Betting

[N10k]

Anyone dabbled in Spread Betting on the side.

I have just bought this
http://www.amazon.co.uk/Naked-Traders-Guide-Spread...

And was interested in a little dabble. Does anyone do this in their spare time?

[RemainAllHoof]

Depends who's asking. : peeksoutfrombehindsofa:

Edited by RemainAllHoof on Tuesday 26th April 12:22

[Chilli]

Yeah, I have a play now and then. It can easily take over your life though, so beware!

[N10k]

Chilli said:

Yeah, I have a play now and then. It can easily take over your life though, so beware!

Well the fact you are constantly looking at whats going on in the market and i havent event put my money down yet.

Im constantly looking at the news and market prices. i can see how it can.

Just interested if people mess around spread betting on the side and if it can easily be done

[N10k]

RemainAllHoof said:

Depends who's asking. : peeksoutfrombehindsofa:

Edited by RemainAllHoof on Tuesday 26th April 12:22

Im asking.

What are you doing on the sofa, shouldnt you be at work

[Lawrence5]

Trade fair demo account - have a dabble..... A very good book but actually put me off.

Been doing proper shares but may still spread bet so I can short at some point...

[ringram]

Hard to short with central banker puts.

Hedgie's are starting up long only funds these days.

Still spread or CFD might be good when certain shares or markets get hammered and swing past fair value.

[mattnunn]

Homer Simpson said:

After years of failed get rich quick schemes, I know I'm gonna get rich of this scheme - and quick

Did for a familly member of mine, things did not end well at all.

[Condi]

I lost £700 in as many days once I think?

Not entirely sure why I was gambling those sums at 20, but I was, and I did. I learnt a lot. Now I spend my days looking at markets and telling other people why things are happening. It pays more with less risk.


One day though, one day I'll be trading again, only this time with someone elses money.

[dalenorth]

I use the IG platform, which is simple and cost effective.

Just bear in mind,only ever bet what you can afford to loose, I've seen many people think they have found the holy grail, only to find out a month later that markets have changed and there theory is now kaput!!

[peatmoor]

Use your stops, thats my advice! Especially if you aren't infront of the screen all the time. Markets can change very quickly, those stops can save you. Also neutralising trades can be useful for example if you are long a position and are in profit but see the market coming back on you you can short the position which effectively neutralises your profit-loss on that trade. If the market goes the right way you can sell the short at a profit but maintain the long if you see it going further.

Also I tend to only trade one instrument at a time, try and understand the drivers and get a feel for the movements. At the end of the day though its educated gambling and you should never bet what you can't afford.

Anyone see the court case going on at the moment involving UBS trader Adoboli? He was meant to be an expert but racked up over 100k of IG CFD trading losses. He was in debt when they arrested him, and used pay-day loan companies like wonga.com. How is that possible when you earn 300k a year?