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Workshop Session One

Last edited on Sunday May 29th, 2005 08:33 by Le Moor

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Session Two

Why use a financial bookmaker? The simple advantages of financial trading are

No income tax payable

Trading with a financial bookmaker allows for tax free gains. HM customs and excise recognise the transactions as bets and therefore liable to betting duty currently 9%(i think) which is paid by the bookmaker and not you. Of course laws could change in due course but i doubt it.

The ability to trade in amounts less than standard market contract sizes

When you trade with a bookmaker youre effectively betting and not buying or selling a contract on the actual market(conventional share dealing), this means that you dont have to bet the exact contract size.

Example: If you trade the FTSE Financial Futures through a futures broker you must trade in the actual market size which is A LOT, one lot=£10 per point on the index. Now when you bet with a bookmaker you can have any size of bet subject to the min/max bet size, at present with Financial Spreads you can bet 50p a point min.

No commission or stamp duty

A financial bookmaker does not charge commission like a stockbroker, futures or commodity broker, they do however quote a larger spread. For example they may quote the FTSE100@ 5000-5007. That basically means the price is 5007 to buy and 5000 to sell. So as soon as you place a trade you would be 7 points in the red if you closed your trade immediatedy without the market moving at'll. Its within this initial spread difference that the bookmakers profit is built in. Hence they profit regardless if you win or lose.

The ability to trade outside normal hours

A very powerful facility that is often overlooked is the fact that you can trade on a market through a bookmaker even though the official market is closed. At present IG index is open 24hrs a day from Sun night until Friday night.

Small clients welcome

If you phone a typical London based futures or commodity broker and try and open an account with £2500 you will be poliitely told to go away. To open an account at present you need at least £10,000 and even then you could not trade all the financial markets you could with a bookmaker. So unless you have around £25,000 to risk its either a financial bookmaker or nutin folks. Currently with financial spreads their min deposit size is £100. So thats all you need to get going. Go to http://www.finspreads.com and get familiar first with the website. Look around see the different markets on offer and different indiviual shares you can trade as well. Come back and ask questions but at this stage just investigate further.

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Last edited on Thursday January 12th, 2006 12:36 by Le Moor

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Session Three (Why use a fina.......Cont'd)

Controlled Risk Trades( Guarenteed Stop Losses )

It is thanks to this feature that bookmakers offer, which makes the whole process of financial trading safer especially for the novice. A controlled risk trade or trade with a guarenteed stop loss(GSL) attached (both the same thing) is one which has a special kind of guarentee attached to it. When you open your trade you pay a small premium through an increase in the bookmaker's dealing spread, and you choose a stop loss level at which if the the bookmaker's quotation reaches it, your trade is automatically closed out. This is guarenteed, including if the market moves overnight and protects you for the amount your willing to risk, if the market moves against the direction of your trade.

Let me give you an example:

Its August and you think the London FTSE future is going up, so you open a £20 per point UP trade or Buy FTSE @ £20 per point(same thing). What this means is that you have speculated on the market rising and for every point the index moves you make £20. (The FTSE100 by the way is made up of the top stock exchange listed 100 companies in Britain in terms of size). The trade you opened was at the price of 5000 and you set your Guanteed Stop Loss(GSL) at 4900 which is 100 points away. This means that the maxuim you can lose come rain nor shine is 100  x £20= £2000. 

Lets say you have opened the trade but that night a major financial collapse occurs in the Far East. This effects the UK markets and the next morning the FTSE Futures opens dramatically lower at 4750. Luckily you have a GSL so your trade automatically closes at 4900. However if you hadnt of taken this this out with the initial trade you would be 250 points in the red 5000-4750=250. This would mean that if you decide to close the trade here to avoid further losses you would have lost £5000 (250x£20per point).

So Controlled risk trading together with sensible size trading (£ per point size) will ensure that you dont end up losing everything you own. The maxuim you will lose is the the exact amount that you have committed and no more. Back in 1987 before the bookmakers offerred a stop loss facility, one IG Index customer who was trading that the market would go up, lost over £800,000 in one day when the market dropped 500 points on Black Monday.

Last edited on Tuesday June 21st, 2005 16:58 by Le Moor

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Session Four(Why use a fina.......Cont'd)

Bookmakers quote a firm 2 way price (buy/sell) that you can deal on immediately, no waiting to deal through the market or calling back. This again is a very powerful advantage. If you are trading through a financial futures broker on some markets it can take 10 minutes at times to execute a deal. With a financial  bookmaker a typical deal can be completed within 1 minute, even quicker when trading online.

Markets that you can bet on

Financial bookmakers offer you a one stop facility to trade on a diverse range of stock market indicies, shares, currencies, options, interest reates, commodities and much more. Occasinally there are unusual markets offerred, such as who will win the General Election and who will be the next chancellor etc.

Why you have never had it so good

As a small private trader armed with a financial bookmakers account, access to the internat, teletext and CNBC, the business channel, you effectively are able to do anything that a major city financial institution can do. It really does give you the chance to compete with the big boys. Trading is a true level playing field, it doesnt matter what your background is, what nationality you are, whether your male, female or whatever. With todays technology ie PCs and mobile phones you can trade from almost anywhere on the planet. (Sitting on the veranda of my beach home with my laptop and over- looking the Caribbean sea, is a dream i refuse to stop having.)

We will touch more on the different markets, shares, commodities etc, however they all have one thing in common, they will either go UP or DOWN.

Selling Short

(I have covered this early see above) Very useful to have this facility. In the event of a major UK and US meltdown, it will be a way to make large profits when many around you will be losing their shirts.

Leverage

Financial trading has the advantage of allowing you to be highly leveraged. If you wanted to buy 1000 Glaxo Welcome shares at the current price you would need £13,500. If you wanted to spread trade on the equivilent of 1000 GW shares(£10 per point) you could do this with no capital upfront if you had a credit facility or with around £1500-£2000 of deposit. So a big difference in capital required but you still get the same profit.

The down side of leverage is that it can also got the other way. By using good monay mangement prinicples which i will discuss and using stops, you can always limit risk. On the whole leverage allows for massive gains to be made on relatively small stakes and starting capital.

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Last edited on Sunday July 3rd, 2005 14:38 by Dada

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Hello La Moor,

I am interested in Spread Betting.

I go Long and Short. When somebody says dont' trade as the markets are very volitile" they must be confusing Trading with investing. Traders earn their money on volitility unless your name is Nick Leeson and you write Options!

Trailing stops are not included with my software. I ,like you am a great believer in Technical Analysis, and I am learning all the time.

I would reccommend attending one of the many Spread Betting or CFD seminars (Most are Free) like Finspreads provide. In deed attend the same ones more than once, then read a few books in Futures and Sharedealing etc.

If your really interested then I would highly reccommend attending and taking:

The Securities & Derivatives Certificate Level III - by the Securities Institute, it's  mainly for people who actually work in the city but anyone is allowed to attend, either on the course or distranceonline learning.  The Cost is around £1,000 but that is cheap if you consider some of these Get rich quick course you see advertised and what's more you will have a formal Qualification.  It should take no longer than a term to achieve.

I found it very disappointing that although many Asians attend these seminars either on Spread Betting, CFDS , Derivatives  or Technical Analysis Courses, very , very few Africans British or Carribean attend even though the many are Free.

My Particular Markets of Interest are:

Commodities

*Oil

*Forex

*FTSE 100

*Coca ( yet to learn)

I day trade but am starting to turn my strategy towards Longer term positions (months)

If you are really interested in this sort of thing I would highly Reccommend

"Remininsecences of a Stock Operator" by Edwin Lefevre

Based on the Life and times of Jesse Livermore in his heyday. Seriously do not trade until you have read this book twice.

 
La Moor,

You were right to dismiss the previous poster as this is such a common thing within our community we are the enemy within. Your intentions were and are positive and there is absolutely no reason to be critized , if one is ignorant of something then ask and learn.

Also what is your view of Proprietory Traders and Trading Arcades that are mushrooming around the City and the World due to the access through online trading. It has been said the due to the lower costs in this type of trading countries such as India and China are setting up there, this is something many African Countries especially Nigeria could do given the high number of Educated individuals there.

The negative thing about the Spreads are the more you trade and the higher one trades the more expensive it becomes and one is more suited to trade actual Lots or CFD's i.e

i.e A £25.00 spread is actually £150 round trip, i.e three points to get in 3 points to get out.

If you are a scalper with I have been doing going in and out 6 times in a day means £900.00 goes to the Spread betting firm (indirectly) before you can make your profit  compared to a two point spread of (£600.00 saving) so after a fashion i.e three months scalping a spread saving of (£36,000) remains with you rather than to the spread betting firm, provided of course your trades have been profitable if only by one point with the CFD or actual Future Lot size against the spread better.

What's your take on that ?
  

Dada wrote: Hello La Moor,

I am interested in Spread Betting.

I go Long and Short. When somebody says dont' trade as the markets are very volitile" they must be confusing Trading with investing. Traders earn their money on volitility unless your name is Nick Leeson and you write Options!

Trailing stops are not included with my software. I ,like you am a great believer in Technical Analysis, and I am learning all the time.

I would reccommend attending one of the many Spread Betting or CFD seminars (Most are Free) like Finspreads provide. In deed attend the same ones more than once, then read a few books in Futures and Sharedealing etc.

If your really interested then I would highly reccommend attending and taking:

The Securities & Derivatives Certificate Level III - by the Securities Institute, it's  mainly for people who actually work in the city but anyone is allowed to attend, either on the course or distranceonline learning.  The Cost is around £1,000 but that is cheap if you consider some of these Get rich quick course you see advertised and what's more you will have a formal Qualification.  It should take no longer than a term to achieve.

I found it very disappointing that although many Asians attend these seminars either on Spread Betting, CFDS , Derivatives  or Technical Analysis Courses, very , very few Africans British or Carribean attend even though the many are Free.

My Particular Markets of Interest are:

Commodities

*Oil

*Forex

*FTSE 100

*Coca ( yet to learn)

I day trade but am starting to turn my strategy towards Longer term positions (months)

If you are really interested in this sort of thing I would highly Reccommend

"Remininsecences of a Stock Operator" by Edwin Lefevre

Based on the Life and times of Jesse Livermore in his heyday. Seriously do not trade until you have read this book twice.

 
La Moor,

You were right to dismiss the previous poster as this is such a common thing within our community we are the enemy within. Your intentions were and are positive and there is absolutely no reason to be critized , if one is ignorant of something then ask and learn.

Also what is your view of Proprietory Traders and Trading Arcades that are mushrooming around the City and the World due to the access through online trading. It has been said the due to the lower costs in this type of trading countries such as India and China are setting up there, this is something many African Countries especially Nigeria could do given the high number of Educated individuals there.

The negative thing about the Spreads are the more you trade and the higher one trades the more expensive it becomes and one is more suited to trade actual Lots or CFD's i.e

i.e A £25.00 spread is actually £150 round trip, i.e three points to get in 3 points to get out.

If you are a scalper with I have been doing going in and out 6 times in a day means £900.00 goes to the Spread betting firm (indirectly) before you can make your profit  compared to a two point spread of (£600.00 saving) so after a fashion i.e three months scalping a spread saving of (£36,000) remains with you rather than to the spread betting firm, provided of course your trades have been profitable if only by one point with the CFD or actual Future Lot size against the spread better.

What's your take on that ?

Don Dada yes your right that fool deserve fe get cuss. Its more not what she said but how she said it that annoyed me.  Glad you mentioned prices for training material, maybe i should start charging Blacknet veiwers per hit.

Last edited on Sunday July 3rd, 2005 16:30 by Le Moor

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