Re: Stocks and Shares?
Originally Posted by
MKJ
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Spread / Bet. Applied the newly acquired knowledge to this very risky form of trading and guess what? I made £1520 today on 1 deal
. This was from a starting point of £10,000 (they allow you this amount on the practice account).
Sh .............. it. And I could have doubled the amount quite easily. Looks like I might well have found my feet at last
. Looking forward to what tomorrow will bring. If it continues - and I really can't see why it won't - then REAL money will be forthcoming very soon.
Ok this will likely fall on deaf ears but I urge you much caution. Like all online gambling and financial "sysems" it is all rigged to hell and back.
£10,000 is a lot of money to put into that.
What you have experienced is what they call the "honeymoon period". It's the instant win, instant gratification to make mugpunters think "wow this is bloody good" I will up my stake next time.
I have SB accounts with LCG and IG. I haven't used them for 2 to 3 years. I originally created them because I trade stocks and shares and thought it would be better to spread bet rather than buy actual shares because there is no tax with spread betting. I found however that once I got there, I couldn't actually spread bet on the specific shares that I wanted to (mostly AIM shares).
I tried the spread betting on currency pairs and like you saw instant success. As with everyone else that was followed by lots of losses.
They know EXACTLY what they are doing and if you haven't already had one, you will get a phone call from one of their "team" to check you are ok and basically suss out what kind of a customer you are, professional, mugpunter, easy mark etc.
Like all forms of gambling, spread betting is highly addictive. You literally sit there and watch that money meter climbing upward. It seems too good to be true. And it is ! Once the honeymoon is over they will relieve you of that £10k in no time at all.
They know exactly what they are doing and they CAN influence the price of the stocks or currencies on THEIR system any time they want.
I strongly advise you to limit your bet size and go instead for actual buying of stocks and shares. When you buy a share you actually own something, you can never lose more than you invested, whereas with spread betting you can lose your stake and many multiples of it besides.
All that said, the stock markets too are rigged to hell and back. Especially AIM. The regulators turn a blind eye to the blatant market manipulation and fraudulent activities of a great many company directors.
There are no free lunches.
Last point, don't even think of tryng to chip away with small bets and closing the deal when you are £1 up, repeating that over and over. It's called "scalping" and the brokers hate scalpers. They will con you as soon as you start doing it and take ££££s off you.
The system of stop losses and guaranteed stop losses is of itself a huge con. It's basically giving them free information that tells them how far they need to rig the price to hit your stop loss. All managed by computers. If they know your stop loss they have full control. If you don't use a stop loss they will change the price very quicky to put your bet well into the red and then you'll get what is called a "margin call". That is, you have to have a certain amount of cash in your account to cover any bet and they will say that the bet has gotten so far against you that they were forced to close it and that means you have to pay.
They win any ways, and all ways. The systems guarantee it.
But there you go. You will have to see it for yourself I'm sure rather than take my word for it.
In your heart you of course realise that if it were that easy to make £000s then everyone would be doing it. It isn't. You're just on your honeymoon and it will be over in a flash.