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Spread betting

#1 Spread betting
24/04/2009 09:13

MC get Rich

I've been an MC long enough to know I've missed a few tricks in my time. With hindsight, I now know I could have made a mint with various opportunities in the past, which are now gone. So, this time I want to make sure I don't miss the boat.

My question to the forum is - what do you think of spread betting?

It looks like something I could do in my spare time, and potentially make a FORTUNE with. Of course, I could lose some money too.... but what are the risks? Is it a good/viable way of making money? What do you need to know or ask yourself before deciding to have a go with it?

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#2 RE: Spread betting
24/04/2009 12:17

cakewalk to MC get Rich (#1)

It's dead easy mate. Pile in. Hardly anyone else in the world has grasped how rich this can make you. With that consultant brain of yours you will make a fortune!

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#3 RE: Spread betting
24/04/2009 12:23

yup to cakewalk (#2)

Yup! You can't go wrong with spread betting mate!

I've got a roulette "method" you can buy off me for £100 if you want too!

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#4 RE: Spread betting
24/04/2009 12:59

MC get Rich to yup (#3)

OK, so basically the consensus is that it's not worth doing?

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#5 RE: Spread betting
24/04/2009 13:38

D to MC get Rich (#4)

It's not a good thing for people with no knowledge to be doing.

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#6 RE: Spread betting
24/04/2009 13:52

King Cash to D (#5)

Is very easy to make many many money with this.

Myself, I come to this country with nothing and now am a millionaire many years ago

Please send me two blank copies of a letter signed by you, along with your bank account details, and I will show you how to make untold riches.

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#7 RE: Spread betting
24/04/2009 14:51

anon to MC get Rich (#1)

It's a mugs game, stay clear unless you know exactly what you are doing and have a lot of money you don't mind loosing.

My wife has been a Risk Manager/Trader for one of the largest Spread/CFD firms for a good few years and the number of people who have lost everything, homes etc... is unbelievable. There is the potential for unlimited losses if you don't understand the game and even very competent people have lost a lot of money by forgetting to put stop losses in place or putting them at the wrong level.

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#8 RE: Spread betting
24/04/2009 15:34

MC get Rich to anon (#7)

So just so I understand it better, which of the following are we saying:

1) It's a mugs game. No money to be made here. The 'house' always wins. In the long term, it's as dumb as playing fruit machines and you will definitely lose money.

2) It's risky. Like betting on horses. You might make some money if you really know your stuff and have a bit of luck, but the odds are against you and you'll probably lose.

3) There IS money to be made, but you really need to be an absolute expert and know 101% what you're doing. If you make even a tiny mistake, you could bankrupt yourself... so the downside risk is so great that any normal person should just stay clear.

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#9 RE: Spread betting
24/04/2009 15:40

anon to MC get Rich (#8)

A bit of all 3 really, people do make money in the short term but long term the house always wins - if it didn't it wouldn't be in business.

But point 3 sums it up best, the risk/reward balance just isn't there. Your better off doing some day trading on the side at least your potential lost is limited to the amount of initial capital you invest.

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#10 RE: Spread betting
24/04/2009 16:00

MC get Rich to anon (#9)

Re: the point about the spread betting 'house' always winning otherwise it wouldn't be in business.... is this actually correct? Surely you're betting against other people in the 'markets'... i.e. the 'house' gets its income from the spread (difference in buy vs sell), regardless of whether you win or lose?

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#11 RE: Spread betting
24/04/2009 16:32

anon to MC get Rich (#10)

The spread company will always make money from the spread itself.

But you are not betting against the market, you are betting the company against what the market will do. The company may hedge certain trades but not all, so therefore in most cases you are betting against the house as to what the market will do but there is no direct involvement with the market.

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