Spread Betting for a Living..

mayser77

Spread betting was heavily featured in all of todays papers, driven by the managment buyout of worldspreads.
Is anyone making a living from spread betting or know of anyone doing so, in the same way people live off day trading?
Just curious to the usage levels..haven't ventured into it myself, but thinking about opening a account - advice welcome!!

patbrady877

There are plenty of people doing it for a living - however i wouldnt like to be relying on making money at it to meet my monthly mortgage payment.

You need a lot of capital to be able to do it

Pal

In my experience the long term success rate is low.

Less than 5% are still in the full time professional game after 2 years.

They're not good odds.

You may get lucky short term but to succeed over time, you really need to know what you are doing. I cannot stress that enough.

mayser77

thanks - I hadnt planned on going fulltime, (I don't think I'd last too long - haven't the temperment!)
I have opened an account, handy for short term punts now and then, as long as your not leveraged too much.

luckystrike23

if you make a living day trading or even swing trading you can make a profit spread betting... as simple as that. don't overleverage yourself or overtrade and youu should be fine...

lucky-colm

i opened an account with paddypower a few mths back i lost €200 and packed it in i still have €19 there but it is to small to bet on any thing with

the catch as i see it is when you buy there is two prices say 50-56 the spread, the share price is 56 and lets say you buy €5 but when you buy it is bought at 50 so straight away you are down your a/c registers a loss of €30 6 points multipled by €5. so now the share price must go up 6 points just so you can break even.

and then they have the nerve to tell you that they don't charge commission

Rocket!

lucky-colm wrote: »

i opened an account with paddypower a few mths back i lost €200 and packed it in i still have €19 there but it is to small to bet on any thing with

the catch as i see it is when you buy there is two prices say 50-56 the spread, the share price is 56 and lets say you buy €5 but when you buy it is bought at 50 so straight away you are down your a/c registers a loss of €30 6 points multipled by €5. so now the share price must go up 6 points just so you can break even.

and then they have the nerve to tell you that they don't charge commission

Emm, that'd be the spread...

lucky-colm

lol