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OT: Day Trader - Spread Betting on the Markets...



hybrid_x

Banned
Jun 28, 2011
2,225
is anyone into this? i know someone who has done this for over 10 years very successfully....and i finally got round to being able to ask this person a ton of questions and check out the cmc software platform.

it seems really good:

tax free.
different types of stop losses.
ones margin is amplified as never actually own any commodities.


the only issue it seems is if there is a gapper that jumps past the stop loss......which is rare (so i am told).


this person told me tons of ppl get burned (especially those hopped from sportsbook), but if one knows what they are doing (terminology and the structure of parameters in the software/game so to speak) - then one just watches the market and news tickers, and soon gets a feel for it......then its candy from a baby.

anyone know anything?
 


Justice

Dangerous Idiot
Jun 21, 2012
18,249
Born In Shoreham
I trade on a daily basis I mainly trade the index's, the name of the game is to develop a strategy which works 60-80% of the time. You will need to learn how to read the charts candle stick patterns support and resistance etc.

Any questions give me a shout :)
 


The Maharajah of Sydney

Well-known member
Jul 7, 2003
1,364
Sydney .
I've had 30 successful years trading derivatives - Futures and CFDs .
Started in 1983 , honing my skills whilst working for a commodities broker.
I then went independent in '86 trading as a 'local' in the Bond , Interest Rate and Stock Index futures pits.
You need to have an amazing amount of self-discipline and to be able to trade leverage & risk with zero emotion .
I'm slowly winding down my career now , taking on less risk & leverage .
Yes , it's true , the cost to trade is cheap and access to a lot of "live" financial information is now freely available .
I think if I was to start up today I'd find it very tough going . The advent of automated algorithmic trading software has totally changed the playing field .

My advice to you or anyone who doesn't possess the right personality characteristics and without a thorough knowledge of forthcoming risk events is simply ;

DON'T DO IT !!!
 


User removed 4

New member
May 9, 2008
13,331
Haywards Heath
I've had 30 successful years trading derivatives - Futures and CFDs .
Started in 1983 , honing my skills whilst working for a commodities broker.
I then went independent in '86 trading as a 'local' in the Bond , Interest Rate and Stock Index futures pits.
You need to have an amazing amount of self-discipline and to be able to trade leverage & risk with zero emotion .
I'm slowly winding down my career now , taking on less risk & leverage .
Yes , it's true , the cost to trade is cheap and access to a lot of "live" financial information is now freely available .
I think if I was to start up today I'd find it very tough going . The advent of automated algorithmic trading software has totally changed the playing field .

My advice to you or anyone who doesn't possess the right personality characteristics and without a thorough knowledge of forthcoming risk events is simply ;

DON'T DO IT !!!
this^^^^,the algo boxes have completely changed the game.
 


Tricky Dicky

New member
Jul 27, 2004
13,558
Sunny Shoreham
this^^^^,the algo boxes have completely changed the game.

Indeed, trading opportunities are spotted by specialist software well before you get a chance to jump in. I've worked on the IT side of it for 25 years, and I wouldn't do it personally. Writing trading and algo s/w is fun though. :)
 




Justice

Dangerous Idiot
Jun 21, 2012
18,249
Born In Shoreham
I'm not put off by algo s/w I still see the market move the same way day in day out, when you have been trading long enough you can spot the big institutions making their move just trade with them not against them.
 


Mar 12, 2008
180
As TMS said, don't do it!

The trick is, be prepared to ride out volatility. If you believe in a trade don't get sucked in by short term noise. Provided you have the margin of course :)
 


hybrid_x

Banned
Jun 28, 2011
2,225
thanks guys - pretty much all saying what my friend has said in answers to my Qs.

@Tricky Dicky i see these software platforms 'have an algorithm' to price any out of hours markets - is this different per platform (company supplying SB)? also how roughly and simply do these work - e.g do they just piggy back other open markets or are they based on ammount of clients trading?
 




tinycowboy

Well-known member
Aug 9, 2008
4,002
Canterbury
Good luck! I work in asset management, and I wouldn't do it. You're competing against a combination of computer programmes dreamed up by doctors of mathematics/physics and irrational responses from human beings, some of whom will have more knowledge than you and some who will have less. Long term, I think the markets just about make sense, but short term, well..
 


Seagulltonian

C'mon the Albion!
Oct 2, 2003
2,773
Still Somewhere in Sussex!
Looking to have a punt at CFD's in the near future. Anyone have any pointers that might be helpful to me, if I do give this is a go? :) Muchos Gracias!
 


Tricky Dicky

New member
Jul 27, 2004
13,558
Sunny Shoreham
thanks guys - pretty much all saying what my friend has said in answers to my Qs.

@Tricky Dicky i see these software platforms 'have an algorithm' to price any out of hours markets - is this different per platform (company supplying SB)? also how roughly and simply do these work - e.g do they just piggy back other open markets or are they based on ammount of clients trading?

I don't know about out of hours stuff, all my work is done on open exchanges around the world. We wouldn't allow anyone to trade on a market that wasn't open.
 






User removed 4

New member
May 9, 2008
13,331
Haywards Heath
Indeed, trading opportunities are spotted by specialist software well before you get a chance to jump in. I've worked on the IT side of it for 25 years, and I wouldn't do it personally. Writing trading and algo s/w is fun though. :)
Nothing personal dicky , but I'd like to play golf with the nuts of the *******s who thought of algo boxes :lolol:
 


User removed 4

New member
May 9, 2008
13,331
Haywards Heath
Good luck! I work in asset management, and I wouldn't do it. You're competing against a combination of computer programmes dreamed up by doctors of mathematics/physics and irrational responses from human beings, some of whom will have more knowledge than you and some who will have less. Long term, I think the markets just about make sense, but short term, well..
This !!!!
 


Tricky Dicky

New member
Jul 27, 2004
13,558
Sunny Shoreham
Nothing personal dicky , but I'd like to play golf with the nuts of the *******s who thought of algo boxes :lolol:

Hey, I just write the s/w I'm told to, I don't make up these things. If I could, I'd probably be working for Goldmans earning millions (though the 4 that interviewed me there 4 years ago were a weird bunch, I thought)
 



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