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Hi Zarif,

On an earlier thread you mentioned you had opened an account with Spreadex,

I was just wondering what they are like???

This morning i received a letter, saying they are offering 10% interest and all the usual benefits that come with spread betting, but 10% is very attractive. i know that they offer the binary bets too which appeal to me as unlike any other bet you know exactly what the downside is. Does anyone trade these binary bets??

how many people here actually spreadbet??

Horse19, I spreadbet with Fins.
I haven't really looked at the binary bets. Maybe I ought to.
I don't trade any other instruments although I have traded long options in the past and once bought some shares. Sold them at break even.

Is the DJ going to break 10650?

Just slipped back a bit - but will it try again?

Anyone any comments?

Evening all - I was out all day and just got in.I am just watching the market atm.
Horse19 - The spreadex a/c is what i would term mickey mouse.I dont really know why i opened it -the online a/c is very limited and not much support there.You have to open and close trades by phone.They used to do 1 min stake on the dow but they have upped it since. Regarding binary bets i think igindex do them.

The trend is up and little woman i feel we are going to reach the 10750 -10800 and over levels.I am basing my deduction solely on say the low point was 7250 and then was consolidating around the 9000 mark for ages. The difference between the two is 1750 (9000-7250) so the upside can be 9000+1750 =10750 and as we are in a bull stage market i think this scenario is possible in the medium to long term but need to put in a wider stop and then trail it up and keep evaluating.

rgds
zarif

So the trend is up in the US, and down in the UK!

Morning all.

javidshaik,
i was interested in you having a trade open for a couple of months. Is it better to keep a trade open that long or to collect some profit periodically and reinvest it again thus leveraging up your profits? i can't make up my mind which is the better option.

hi snoball,

i have a friend who does large amounts of money per point on the dow for a big profit the same day. he also has a long going currently so manages to catch the peaks and troughs on a daily basis so still follows the trend.
the dow is quite volatile sometimes so unless you have a credit account or can allow for a largeish stop loss it might be difficult to let it run but yes i would advise that as being less stressful and more money in the long run.

Hi everyone:
Lets see what the beast has got in store for us today - My view is that it is going north.
Read the posts from Javaidshaik about long positions it is a good strategy but need to be well capitalised for this. I call it SLIM - it stands for Small stake Large stop IN the medium term position.
Other way to look at is the daily and weekly average ranges.the trend then set the position up.

rgfds
zarif

i got a long and short today. closed the short little while ago so now left with long. will look to open another short once it is high enough and may close the long if i got a good enough profit.
i think it will be an up and down day today. we may get somewhere by 9 tonight but until then i think we will be oscilating.

Same as u javaid - i closed the long of earlier - have got one long open for long term and now am short and waiting.Also have beed creaming the currencies Shorting USD/CAD and LOng ON GBP/USD and EUR/DOLL. So far so good.

rgds
zarif

hi guys,
thanks for responding to my query,

i have now opened an account with Spreadex, they have a shop in London. The girls in there were very pleasant i went in there and I got the account opened there and then. That's what i call good service!!!

I'm not too concerned that they don't have a trading platform, they gave me a credit account and said if i deposit money i get 10% interest.

Have just sold the FTSE up/down/unch. Looks like i am on to a winner!!!

might do the dow but want to get a feel for these swings....later

O.K. Horse, so what's a FTSE up/down/unch?
Does that mean you win no matter which direction it goes in?
If so i'm off to Spreadex!

Does anybody bet the S&P?
I'm thinking of bringing down my stress levels and trading it.
I figure I can make as much with a 2 point win on the S&P as I do on the Dow.
Which isn't a lot compared to you affluent betters out there.

blimey! How many times does it have to test 10,600?

7th time today.

yeh, i do the s&p
i started doing it since it was 1087. hell of a lot more stable and easy uptrend. i wish i had just gone long and left it. i trade it few times a week and back to your previous question, if i had just left the money in there and tried not to be clever, i would have made a killing.

Theoretically though, javidshaik, one should be able to multiply up on each trade. Finspreads want one to have 25 - 30 on deposit for every 1 bet. So if you bet 20 pp and it goes up 2 points that should increase your margin by another 1 therefore allowing you a bigger bet the next time (and therefore more profit, presumably). If you stay in the same trade all along your margin doesn't increase until you close the trade. I admit I would rather stay in the trade once it is profitable as that would mean less stress trying to pick an entry point for the next trade, if you see what I mean.

i have a credit account with ig so i can keep bets open even when they have temporarily gone the worng way. i should actually leave s&p going and add to it every so often or part close it but instead i close the whole thing because i feel the need to see my balance increase. this once again leaves me back to try and find a good entry point and all teh stress (as you mentioned). however, its not too bad with s&p.

I have traded the s&p before but with 'training stakes' and it was more sedate than the Dow. I think I will give it another try.
The Dow is begining to scare me today! I'm still long!

snoball - i have a long position too. i hope it will recover, if not today then early next week. what is your long open poisiton from?