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Financial Spread Betting...your opinion?

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  • 13-09-2007 7:34pm
    #1
    Shinto
    Registered Users Posts: 267 ✭✭


    Hello,

    I was considering starting Financial Spread Betting with an Irish company...
    http://www.deltaindex.com/Home/Web/

    I understand the leverage risks involved in this (i.e. You can LOSE significantly more than your stake!!!) but was wondering have any of you done this?

    If so, what do you think of it? Have you been successful or not? I like the leverage principal, but if it goes wrong you could be in for some serious problems. On the other hand, if it works out in your favour, you could be in for Huge profits. What do you think?


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    #2
    Wisesmurf
    Registered Users Posts: 1,002 ✭✭✭Wisesmurf


    why not set up a play account with www.paddypowertrader.com to get a feel for it. then take it from there


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    #3
    Shinto
    Registered Users Posts: 267 ✭✭Shinto


    Thank you, good idea. I shall try that.

    (I was just wondering if anyone had done it for real and whether they had a positive or negative opinion on it.)


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    #4
    nesf
    Registered Users Posts: 27,645 ✭✭✭✭nesf


    Positive if you've a fair understanding of the markets, what drives them or have contacts with people who do it for a living. Depends hugely on what you're betting on (ie the currency markets are very different to betting on individual stocks).

    I've used igindex.co.uk for years. Guaranteed stops are worth thinking about in a volatile market, not using stops is asking for trouble imho unless you know exactly what you are doing (and even then it's still very very risky, a 400 point down-swing at 10 sterling a point is not something you want to wake up to in the morning).


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    #5
    someothername
    Closed Accounts Posts: 148 ✭✭someothername


    ive had a lash at the demo account.
    you should try that first and see if you can make a few quid there first.

    havent done too badly myself up to 55k from the 10K u get to start you off..... good return but then agaon its not real monies.... mores the pity
    you can use the indices if you know what your doing to good affect
    not sure if id be as confident with my own account.... ;)


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    #6
    Shinto
    Registered Users Posts: 267 ✭✭Shinto


    feck it. You only live once. I think i'll give it a go for real. Thanks for the opinions.


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    #7
    Bernard Hopkins
    Closed Accounts Posts: 404 ✭✭Bernard Hopkins


    let us know how you get on.........


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    #8
    someothername
    Closed Accounts Posts: 148 ✭✭someothername


    Bernard Hopkins wrote:
    let us know how you get on.........

    agreed!:D


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