I am making good money spread betting

[DimPrawn]

I only "bet" on crude oil futures (Jan 2010)

The price of oil drifts up to about $80 a barrel over a few days and then drifts down to about $76 a barrel and then drifts up again.

I bet up and down from these positions and clear £300 to £800 every few days. Tax free I might add!

It's like I've discovered a golden goose.

What can possibly go wrong?

[HairyArsedBloke]

What can possibly go wrong?

I had loads of beer money for summer back in the late '90s when the FTSE was stuck in a range. Went on for months. Small punts as I was just getting going on this trading lark, but as I said it was beer money. Then one weekend some idiot made comments about UK joining the Euro and the FTSE shot off and brought the range to an end. Luckily the guy that I was learning from was very experience and was always saying "where is your stop" and things like that. I learnt very early the value of a stop.

[DimPrawn]

I have a wide stop. A sudden swing in oil price would kill me, but it's a real calm out there at the moment.

Boomed!

[Churchill]

I have a wide stop. A sudden swing in oil price would kill me, but it's a real calm out there at the moment.

Boomed!

OPEC won't be happy for long, something will happen...

[George Parr]

I have a wide stop. A sudden swing in oil price would kill me, but it's a real calm out there at the moment.

Does the market trade all weekend? Would your stop on your short position be honoured if Israel bombed Iran on Saturday morning and crude jumped to $200 a barrel on Monday?

[NoddY]

Gamblers are only vocal when they win.

[HairyArsedBloke]

Does the market trade all weekend? Would your stop on your short position be honoured if Israel bombed Iran on Saturday morning and crude jumped to $200 a barrel on Monday?

I presume (coz I'm too lazy to find out) that the spread bet is based on the CL contract. That opens at 6pm NY time on the electronic exchanges.

There are plenty of other crude futures contacts too, including those in the ME, and there is the spot market.

[downsouth]

I only "bet" on crude oil futures (Jan 2010)

The price of oil drifts up to about $80 a barrel over a few days and then drifts down to about $76 a barrel and then drifts up again.

I bet up and down from these positions and clear £300 to £800 every few days. Tax free I might add!

It's like I've discovered a golden goose.

What can possibly go wrong?

always been interested in doing something like this, any suitable reading etc you'd recommend before taking the plunge?

[SuperZ]

always been interested in doing something like this, any suitable reading etc you'd recommend before taking the plunge?

Yeah, click HERE

If it were that easy, everyone would be doing it and WINNING .
Just when you think you have an edge, the market takes it away.

However I do know of someone with a multi PC setup doing all sorts of monitoring who supposedly makes real money (and a living) from spread betting. SPread betting is too much liek "bookies" to me, and just like the bookies the companies involved I believe have been known to close out accounts if clients seem to frequently make money, they don`t like winners, only losers.

The thing about trying to make money from channels is that a breakout will occur and sometimes that move can be fast and far. How long will it channel for and how do you spot a channel early on?

[SantaClaus]

I only "bet" on crude oil futures (Jan 2010)

The price of oil drifts up to about $80 a barrel over a few days and then drifts down to about $76 a barrel and then drifts up again.

I bet up and down from these positions and clear £300 to £800 every few days. Tax free I might add!

It's like I've discovered a golden goose.

What can possibly go wrong?

So big deal, it's ranging. Good luck when it finally breaks out.

Here's another one for free.

Keep selling the euro near 1.5000 with a small stop, target 14850 - 14800. Of course that could stop ranging too