pennypincher
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pennypincher said:..over the last few days I bought into the Dow indices because if the US interest rates were paused the dow would rise as money would flow into shares.What a joke it took a nose dive today...
pennypincher said:I've been playing with the spread betting simulator tool from delta index,to see if it's possible to make money.So I watched bloomberg and a few other financials and based on their "analysis" over the last few days I bought into the Dow indices because if the US interest rates were paused the dow would rise as money would flow into shares.What a joke it took a nose dive today and thankfully I lost none of my own money...but it does make me think that economists are only correct inretrospect.How can you make money at this other than an oil pipeline bursting...all the information in the media isn't being followed by the investors so what are they basing their investments on?
demoivre said:1 Don't spread bet because as Brendan says the spread will get you. Trade a liquid market using a direct access broker. As a practical example Delta quote the FTSE futures with a 4 point spread whereas it is a half to one point in the actual market.
Hi, I just made my first profit on delta. I made €150 on the price of gold rising. Great kick, however I have put 5k aside in this a/c because I can afford to lose this amount. Delta offer a course on spread betting which I will attend asap. This is gambling, no doubt but I fancy my chances here rather than on a horse.
Out of interest when you say direct access - does this mean you can purchase on line rather than having to call to execute.
Correct - calling a broker is far too slow particularly if you are a short term trader, and inevitably far more expensive commission wise.
Also would you mind naming a few of the direct access brokers you mention.
http://www.manfinancial.com/home.cfm have several different trading platforms but my preferred option ( to put it in the correct vernacular) is http://www.interactivebrokers.co.uk/en/main.php who I have used for several years.
Demoivre I've been checking out IB and trying to understand benefits etc.Am I right in thinking I need a min $5000 to open,then I can pay per trade or pay for a batch of trades,but each month I have to pay a minimum trade whether I trade or not(Not bad as it's only $10!).It doesn't look as easy a site to use as the Deltaindex,but the spreads are better so it's worth investing the time to understand it better.Last question Is this not spread betting but at better spread prices etc?Hence no taxes to pay?
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