ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 27, 2020 11:47:09 GMT
I haven't found this as a thread subject anywhere on here so please avail me if it already exists fellow Investors and I will duly delete/merge. I have looked at spreadbetting in the past and am about to revisit, I mean, it can't be riskier than "asset backed" P2P Lending. Can it?!! Given that Gains are Tax Free, coupled with the astute use of Guaranteed Stop Losses, it's worth a punt IMHO, after due research of course. Choosing the "Right" firm is the first exercise, and I have found this for starters - www.asktraders.com/broker/spread-betting/Meanwhile, given the awesome contributors on here who have brains the size of planets, I await learned discourse on the arcane world of spreadbetting. As always, OzBoy thanks you. [Thumbs up emoticon here ]
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jaswells
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Post by jaswells on Aug 27, 2020 12:23:38 GMT
Do you have an "edge"?
If not, what makes you think you know better than the market?
In the early days of spread betting (circa 1999), I had an edge. My account was eventually closed down. Doubt much has changed.
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ozboy
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Post by ozboy on Aug 27, 2020 12:49:18 GMT
Do you have an "edge"? If not, what makes you think you know better than the market? In the early days of spread betting (circa 1999), I had an edge. My account was eventually closed down. Doubt much has changed. Yes. Sterling V Oz Dollar.
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ozboy
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Post by ozboy on Aug 27, 2020 13:47:53 GMT
"it can't be riskier than "asset backed" P2P Lending" Yes it can be, you're using leverage, so you can lose more than the initial capital you've deployed. As far as asktraders, I'd start with IG. Then unless you've spent time in the market I wouldn't start at all. Most just lose their money, and much faster than in most other forms of gambling. Many thanks @treehugged. Perhaps I misunderstand, and will investigate further, but I deliberately italicised "Guaranteed", as opposed to the potentially dangerous "standard" Stop Loss instructions.
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ozboy
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Post by ozboy on Aug 27, 2020 13:57:33 GMT
OK, thanks fellas, @wallstreet @treehugget
What I meant when I said ".........am about to revisit" is that I intend to investigate again, and IF I proceed I will initially use a dummy account and thereafter IF I proceed further will use Pin Money.
Thank you both for your comments, which are of course V informative.
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james100
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Post by james100 on Aug 27, 2020 14:28:36 GMT
Do you have an "edge"? If not, what makes you think you know better than the market? In the early days of spread betting (circa 1999), I had an edge. My account was eventually closed down. Doubt much has changed. Yes. Sterling V Oz Dollar. You might find forexfactory.com and the (linked) site/forum metalsmine.com interesting. Ignore the primitive look of the place. To cut out forum noise you can choose to stalk high impact traders or trade explorers who link their brokerage accounts (demo or live). Any chance of a tip for GBPAUD on 1 January?
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agent69
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Post by agent69 on Aug 27, 2020 15:43:37 GMT
Oh ozboy ... I had you down as a sensible chap. I guess you've had one too many Fosters ? Well, as usual, beware of the devil that is leverage. Tempting as it is, I'm not going to repeat myself yet again. Its not the act of spreadbetting or CFDs or options or futures that kills people, its the leverage ! Secondly, I strongly suggest you read up on the arcane world of Transaction Cost Analysis. Remember that spreadbets and CFDs are an exclusively retail mug persuit, the underlying is the futures market. The more layers of abstraction you introduce between the underlying and your asset, the greater the need for solid TCA becomes. Don't forget TCA includes holding costs, not just the actual transaction. Given that the statistics are against you, are you sure you at least don't want to use CFDs instead of Spreadbets so at least your losses can feature on your tax reporting ? P.S. In terms of the "right" firm. There isn't one. Spreadbetting is, by definition, an exclusively B-Book exercise, so its more a case of you picking the least-worst.
Even if you've had two (or three) too many Fosters it would only have very limited effect on your cognitive faculties. Having visited Aus a number of times it is obvious that they keep the decent stuff for themselves and send the p*ss water over here. Same with the wine.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 27, 2020 15:44:08 GMT
Yes. Sterling V Oz Dollar. You might find forexfactory.com and the (linked) site/forum metalsmine.com interesting. Ignore the primitive look of the place. To cut out forum noise you can choose to stalk high impact traders or trade explorers who link their brokerage accounts (demo or live). Any chance of a tip for GBPAUD on 1 January? Sometimes my balls are crystal ("Professional Valuations", Funding Secure, Lendy, Smithson, The Racing Boats on FS, etc), and sometimes they are not (Horse Racing, Tesco, Collateral - which I don't beat myself up about as it was caused by the FCA.)
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iRobot
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Post by iRobot on Aug 27, 2020 17:12:55 GMT
You might find forexfactory.com and the (linked) site/forum metalsmine.com interesting. Ignore the primitive look of the place. To cut out forum noise you can choose to stalk high impact traders or trade explorers who link their brokerage accounts (demo or live). Any chance of a tip for GBPAUD on 1 January? I've followed @forexfactory for sometime, but I've never has an account on their site. As an equity investors I follow a couple fx sites. Most have a simple subscripition model, but I've never really worked out how ForexFactory make money. Do you know? I didn't think they had a product as such, but more a community where traders could link their accounts and provide "read only" access, which created an enviroment of collective activity sharings. That you could examine with their and your own tools. Am I wrong? Or do they have a sunscription service of some kind? I've used their Economic Calendar for years and certainly never known them to even hint at a subscription plan, so I always assumed revenues were generated from their advertising or, in their words, Branding Placement -- no idea if that's solely sufficient to sustain them or if they've some VC's behind them. (Would have to be a patient bunch, FF have been going for 15-years or so.) Also their Mission statement (fights gag reflex) includes: " The most valuable information will be exchanged on these pages, accessible to every trader, at the same exact time, regardless of location, citizenship, or financial standing." -- which suggests to me a site that intends to provide all content for free. (my bold)
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Greenwood2
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Post by Greenwood2 on Aug 27, 2020 17:21:58 GMT
I've followed @forexfactory for sometime, but I've never has an account on their site. As an equity investors I follow a couple fx sites. Most have a simple subscripition model, but I've never really worked out how ForexFactory make money. Do you know? I didn't think they had a product as such, but more a community where traders could link their accounts and provide "read only" access, which created an enviroment of collective activity sharings. That you could examine with their and your own tools. Am I wrong? Or do they have a sunscription service of some kind? I've used their Economic Calendar for years and certainly never known them to even hint at a subscription plan, so I always assumed revenues were generated from their advertising or, in their words, Branding Placement -- no idea if that's solely sufficient to sustain them or if they've some VC's behind them. (Would have to be a patient bunch, FF have been going for 15-years or so.) Also their Mission statement (fights gag reflex) includes: " The most valuable information will be exchanged on these pages, accessible to every trader, at the same exact time, regardless of location, citizenship, or financial standing." -- which suggests to me a site that intends to provide all content for free. (my bold) Isn't the phrase if you don't know what the product is, it's probably you. My italics above.
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james100
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Post by james100 on Aug 27, 2020 18:12:28 GMT
You might find forexfactory.com and the (linked) site/forum metalsmine.com interesting. Ignore the primitive look of the place. To cut out forum noise you can choose to stalk high impact traders or trade explorers who link their brokerage accounts (demo or live). Any chance of a tip for GBPAUD on 1 January? I've followed @forexfactory for sometime, but I've never has an account on their site. As an equity investors I follow a couple fx sites. Most have a simple subscripition model, but I've never really worked out how ForexFactory make money. Do you know? I didn't think they had a product as such, but more a community where traders could link their accounts and provide "read only" access, which created an enviroment of collective activity sharings. That you could examine with their and your own tools. Am I wrong? Or do they have a sunscription service of some kind? They make their money solely from broker ads, AIUI www.forexfactory.com/mediakit
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Post by Deleted on Aug 27, 2020 21:55:55 GMT
Oz, the first time I met Terry Smith we discussed tax on capital gains.
If you have cert put it in your ISA. If you have a so-so put it outside your tax wrapper so if you lose money you lose the chancellor's too.
If you are a great trader you should have no problem borrowing money. But never leverage until you are a great trader.
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lobster
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Post by lobster on Aug 28, 2020 9:34:51 GMT
Oz, the first time I met Terry Smith we discussed tax on capital gains. If you have cert put it in your ISA. If you have a so-so put it outside your tax wrapper so if you lose money you lose the chancellor's too. If you are a great trader you should have no problem borrowing money. But never leverage until you are a great trader. If you have cert , please seek help because no such thing exists. In theory, if you did have a "cert" , then sell everything and also borrow as much as you possibly can and pile it all into your "cert" to reap as much reward as possible ........ if it's a certainty, why wouldn't you ?
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lobster
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Post by lobster on Aug 28, 2020 9:42:24 GMT
Do you have an "edge"? If not, what makes you think you know better than the market? In the early days of spread betting (circa 1999), I had an edge. My account was eventually closed down. Doubt much has changed. Out of interest, what was your edge back in 1999 ?
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Post by bernythedolt on Aug 28, 2020 11:18:49 GMT
ozboy , IG provide a "sandpit" area for free, where you can experiment on loads of FX historical data without losing a penny. It's a great introduction. A couple of years ago, I spent some time writing my own robots to implement all manner of 'clever' schemes I designed to break the bank, testing them against the mass of historical data while sitting back to watch the loot roll in... For example, one simple scheme might be to watch out for maybe ten or twenty successive drops in a market, followed by a small rally of two increases, at which point your robot piles in to buy the currency. You run the robot over a year's worth of GBPAUD, for example, to gauge your profit/loss. In the end, despite some quite complex algorithms involving curve fitting, data trending, etc, etc, none of the several robots I wrote could make money consistently across all the FX indices. I might win big on GBDAUD, but would lose it on another index. In the sandpit, I could never consistently make a penny overall... and this really came as no great surprise - all my mathematical education had suggested as much. Conclusion: no way I'd risk real money on it, but writing the robots was great fun and sharpened up my rusty programming skills (I was once a software engineer in a previous life, in the old days of ALGOL 😁). I commend such a sandpit to practice on before committing real cash.
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