Hi All

Looking to gain a small following for an experiment, gonna spreadbet 1,000 of my own hard earned with a view not to stop until I hit 25,000 or lose the lot!!

It'll be across a range of Index, equity & FX trades starting small and building the pot (or lose the lot) will be using flat stops and running profits with trailing stops.

If you want to follow every trade and watch the spiral up or down feel free to follow me on www.twitter.com/eyetrader - where I'll be simply be posting each trade as I click the mouse

BTW this is not spam, I'm not selling anything, I dont want any donations, more of a personal challenge that I'm going to conduct in public!!!! I'm hoping to see a few tips on here as well as my own strategies and ideas.

Lastly I'll be donating 5,000 of the profit (if/when I make it) to charity

May the slaughter commence :)

Eyetrader

Came across this excellent appraisal of IG Index, listing good/bad points on their spreadbetting service:

http://www.financial-spread-betting.com/Igindex-review.html

SBT are a joke outfit imo pt , steer clear.

Saw the breakout myself but due to my own experience with them (I'm limited to placing 16 on an evens favourite and less than a fiver at odds over 5/1) then they obviously have a problem with anyone that ever wins with them and for the record I've only placed about 200 of bets with them in 6 months. If I remember right they also had an offer on that would have increased turnover just before period end with refunds / free bets not being credited til following period. 888sport did something similar.

eyetrader - any chance you might include this link in your header?

http://www.financial-spread-betting.com

It is an exceptionally useful information source for anyone looking at spreadbets for the first time, as well as for the more experienced spreadbetter seeking greater guidance on tactics and strategies.

This character looks a bit dodgy! :-)

This one looks just as bad.

I wonder which of them would win in a fight?

In the days when I dealt via Cantor Index, the officials they chose to show photos of in their brochure were people whose images they presumably thought might impress. They had the opposite effect on me - an offputtingly sharp-looking lot. The kind of people I shy away from shaking hands with.

Dil, interesting stuff, I have no first hand experience of SBT, so always useful to hear of how others view their service. If they can't pay out it doesn't bode well for their future. Having got that particular trade wrong I have little interest in having another go!

Juzzle - I agree that is a good site. I personally (FWIW) have had few problems with Capital Spreads, tried all the others, occasionally use Cantor Index. The main reason I prefer CSpr is the KISS principle and ease of moving stops. The charts are good. Only downside with the charts especially in volatile markets is the requirement to refresh frequently. I only use them for spreadbetting, no knowledge of there CFD platform.

Latest update:

3000 is now 6327.49

Quite frankly, it should be quite a bit more, but haven't maximised profits.

Shares trades are the profitable part of the exercise with 14 of 20 showing a profit and it could be argued that two of the losers were a small part of a bigger position.

The negative aspect are the indicies and FX trades (54 in total of which 33 have been profitable, 16 have been losers and 5 closed flat).

Clearly there are two conclusions to be drawn from the above:

1. I am much better at share trading than I am with the more volatile markets.

2. Despite having more winners than losers with the Indicies & FX I was not cutting losses early enough nor letting winners run; additionally, I know that with some trades the bet size was a little ambitious. Having said that, I was aware this was the case and have been working hard to rectify these aspects.

In fact the last month or so the account has had 21 winners and just 4 losers in this category, showing a profit of 741.45, so perhaps I'm learning!

Hope you're doing ok Juzzle.

well done peter ..... over how long a period?

The first trade was placed in June, but the second not until Spetember, so strictly speaking I've only been active during the last two months or so.

The 14k mission is enduring a bit of a bashing over this past 10 days, and it would not have delivered the planned 375 per week in two of the seven weeks so far without cashing in some positions that I chose not to do. But still looking OK.

I am running a spreadsheet that I wanted to display on a blog - but I am told that my chosen format prevents me doing so. And I'm in the process of very slowly moving house, one carload at a time, so while I have been able to trade, I've not had time to bother with updating a blog. Coming up to the end of month 2, and with several positions banked or stopped out, I now have bets open on 18 stocks, the riskiest one being Avanti (AVN). They are launching a satellite tomorrow evening, the successful or failed outcome of which be reflected in Monday's share price. Unfortunately guaranteed stoplosses are not available on that one - and it could easily move either way by hundreds of points.

Eight quid Monday Juzzle and a tenner by xmas are my conservative estimates for AVN so good luck.

Nice trading pt ... you subscribing to sln2 the sure fire multibagger ? :-)

Dil,

Yep, can't wait to get my sticky paws on some XGEL shares. As proven since the early days of BTL it's a sure fire winner, it made huge amounts of money before finally delisting and going into admin. Oh, hang on a minute, the only people who made money were the founders and all the subsequent scammers; perhaps I'll have to rethink my strategy!

Having a wee punt on AVN, let's hope that feckin rocket doesn't go whoosh in the wrong direction. The launch can be watched on Arianne's web cast tomorrow night. Nice to have a bit of interest in proceedings. I guess if it does go wrong in any way, my SB account is going to get a right good twatting!

My 14k mission (see post 10 & 12) has not gone well enough in recent weeks. Were I dependent on taking the intended 75 per day out of it, the overall total would be down. At present I am on track for a 33% gain for the 12 months. Needed to be doing much better than that.

Hi Juzzle

Sorry to hear not going quite according to plan, however, a 33% gain is probably much better than most funds achieve!

I don't have my laptop with me at the moment, so not too sure where I stand exactly, but think I'm somewhere close to 11,000 representing a 367% increase on the original pot. Curiously, I have not used the profits to any great extent to increase position size or number of trades. The maximum deposit in my SB account at any one time has averaged 4k, although currently 6.5k.

Juzzle - Well Done on your 33% gain! If true that 90% of spread betters get stuffed then you are in the 10% club of winners. We all have different methods of trading/investing thanks for sharing yours and good luck!

I don't see why that 90%-10% thing should be true. Spreadbetting is the same as any other type of investment in that you take a position on the future SP of a particular company and your success depends on the accuracy of that position.

Ok, the spread will be a little wider with spreadbetting, but no so much that a significantly higher proportion lose money compared to any other form of investment.

Where did that statistic come from anyway?

Can I make a very basic observation on that point (post #77)?
Firstly, the Spread betting companies make much of their profits from punters who get it wrong. Hence, if most got it right, they would change their trading rules. Secondly, the Chancellor doesn't tax S/betting for much the same reason. I'm not sure if CC's %age is correct, but his principle argument must surely be correct?
Very interesting thread and tempted to dip my toe into s/betting, but have a natural aversion to trading on margin, so happy to watch for the moment.

ValueMax - .......Better explain.... I first heard that 90% theory five years ago when I first started trading/investing, have heard it quoted many times since, no idea where it originated from or if indeed it is a true statistic. When I first heard it I took it as a direct challenge :O). In hindsight perhaps it should be re-phrased to 90% of the people who try Financial Spreadbetting with either no knowledge, experience ie buying/selling shares, forex,Indeces,technical analysis etc lose. Which unsurprisingly was true in my case five years ago. Got Banjaxed! Today 90% of my trades are spread bets long and short on shares that I either own or have experience trading.

The comment regarding we all have different methods of trading/investing was a reference to Juzzle's method of spread betting ... 14K pot with a portfolio of 40 stocks. I can only aspire to reaching that level. The comfort zone for me is only to have a maximum of three open spread bets at a time. I accept that five years is nothing experience wise, that is why I like this thread. The main objective is to enjoy it, avoid sleepless nights and make a few bob.

Harry - Go for it :O) You have a lot of experience, your predictions and technical analysis on EMG and BA. for the last fourteen months have usually been spot on, all my trades on same have been spread bets, cocked up a few times but have made a few bob on both.