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Is spread betting for fools?

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@Caseynotes the chart above was about the gray area, not the Mid Bid Ask position. 

I know what the Mid Bid and Ask price are.  I said earlier that the Limit Line was my Buy In price.  You said i was utterly completely wrong!  I am not.!

If I have no Limit amount set, the Limit Line is my Buy price, going Long or Short. 


The chart above is not set to Ask, it is set to Mid.  It's simply on Sell.  That's why there is no price showing.  The white box is the Mid price  This is what changing from Mid Bid Ask price does.  It highlights those prices.  The Limit line below the Mid price of is the Sell price buy point.

I only use the Mid price as it indicates clearly the amount of spread.  Remember Shares don't show Spread count.  It must be calculated.

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Right, hopefully I've figured out the Gray area.

It's the chart moving after the trade has been placed............... i think.

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11 minutes ago, nit2wynit said:

@Caseynotes the chart above was about the gray area, not the Mid Bid Ask position. 

I know what the Mid Bid and Ask price are.  I said earlier that the Limit Line was my Buy In price.  You said i was utterly completely wrong!  I am not.!

If I have no Limit amount set, the Limit Line is my Buy price, going Long or Short. 


The chart above is not set to Ask, it is set to Mid.  It's simply on Sell.  That's why there is no price showing.  The white box is the Mid price  This is what changing from Mid Bid Ask price does.  It highlights those prices.  The Limit line below the Mid price of is the Sell price buy point.

I only use the Mid price as it indicates clearly the amount of spread.  Remember Shares don't show Spread count.  It must be calculated.

The shaded area has nothing to do with spread.

Move the Limit line out of the way so you can see the entry line.

The price level is the white box, the stop level is the red box, the limit level is the purple box and the entry level is the blue line.

On your picture the price (white box) was the same as the Buy price because it was set to Ask.

The shaded area covers the min stop position if the price is set to Ask but the actual stop level is always taken from the entry level.

 

 

image.thumb.png.553493e67ca299dc085360a695db9674.png

 

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Just now, Caseynotes said:

The shaded area has nothing to do with spread.

lol.  Sorry. my Bad!!!  The Stop, not the Spread :O

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Casey it was not set to Ask!!!  I know you know your stuff, but you're mistaken.  See below.  The highlighted number is the Mid price showing.  The Red Limit Line below it is the Sell Price.  this is where i would place the trade.  as i have not altered the Limit, the Limit Line is the Sell Price i would go in at.

The Buy Price being 1244.8, 4 points above the Mid price! 8pt spread.

 

795542498_StopLimit.jpg.70f1d1e1e90ac495dff7b82c0fd4bc91.jpg

Edited by nit2wynit

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3 minutes ago, nit2wynit said:

Casey it was not set to Ask!!!  I know you know your stuff, but you're mistaken.  See below.  The highlighted number is the Mid price showing.  The Red Limit Line below it is the Sell Price.  this is where i would place the trade.  as i have not altered the Limit, the Limit Line is the Sell Price i would go in at.

 

795542498_StopLimit.jpg.70f1d1e1e90ac495dff7b82c0fd4bc91.jpg

yes, in THIS example pictured above the price is set to Mid as is half way between the Sell and Buy as opposed to the previous picture which showed the price set to Ask as it matched the Buy price.

Each chart can be set individually so might be worth going back to the previous chart and check.

The Sell price is your Entry price level for a short which is covered over by the Limit line if no limit is set and the stop is set from the Entry level regardless of price being set to ask, bid or mid. 

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Confirmed.

The Gray Area, happens in this instance:

If I place a trade.  Then go to place another trade, one or the other is shadowed under or over the previous trade.

Pretty sure that's it.

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Just now, Caseynotes said:

yes, in THIS example pictured above the price is set to Mid as is half way between the Sell and Buy as opposed to the previous picture which showed the price set to Ask as it matched the Buy price.

Each chart can be set individually so might be worth going back to the previous chart and check.

The Sell price is your Entry price level for a short which is covered over by the Limit line if no limit is set and the stop is set from the Entry level regardless of price being set to ask, bid or mid. 

That's what I said.  My Limit is my Buy in :D

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17 hours ago, Caseynotes said:

The limit line is your take profit level, if you click and hold you can slide it as far up as you want.

The entry level is on the left column and will just say +/- the position size while the stop and limit above and below will say the amount to lose or gain.

This is basic stuff, you really should find the time to look at the academy :D

This is what we've been going back and forth about @Caseynotes

Then I replied this:
 

14 hours ago, nit2wynit said:

You're kidding...Right??

I've been trading since Feb lol

I know what they mean lol

to which you replied this:

7 hours ago, Caseynotes said:

LOL, as you say, you've been trading since Feb  and you thought the limit line was the entry line and you have no idea what the spread is or where to find it.

Do you see the problem here?

The Limit Line IS my Buy In.

But I can see how you may have taken this too literally, that even if i set my Limit to 500, you must have thought i was saying 500 would be my Buy in.

I hope this is clear now.

Thanks

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14 hours ago, hart said:

Its facts,its obvious lots of novice individual being tricked by it.

You must have capital of 50 -100K for a start,and trade INDEXES, like NIKKEI,DAX,DOW,S&P.

To have holding power is A MUST .

 

 

 

That's an interesting perspective, and probably not far from the truth.  

I think it's possible to make money from a smaller balance, but not enough money to 'live on'.

I like the example of choosing whether to put £2000 into a savings accounts that pays out 2% interest or spread betting with it and trying to make a greater than 2% return over 12 months.  It sets expectations much lower and makes them more realistic.

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19 minutes ago, nit2wynit said:

This is what we've been going back and forth about @Caseynotes

Then I replied this:
 

to which you replied this:

Do you see the problem here?

The Limit Line IS my Buy In.

But I can see how you may have taken this too literally, that even if i set my Limit to 500, you must have thought i was saying 500 would be my Buy in.

I hope this is clear now.

Thanks

Of course I see what the problem is, I've been explaining it  to you for ages, go back over the thread and see for yourself .

 

 

Edited by Caseynotes

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11 minutes ago, Caseynotes said:

Of course I see what the problem is, I've been explaining it  to you for ages, go back over the thread and see for yourself .

Wrong, and you seem to offer no humility at all.

I grow tired and weary.

Thanks.  I'll work the rest out on my own.

 

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4 minutes ago, nit2wynit said:

Wrong, and you seem to offer no humility at all.

I grow tired and weary.

Thanks.  I'll work the rest out on my own.

 

What are you talking about I've just worked the whole thing out for you, it's all there in the thread. As I said, you should try reading it, instead of just firing out rapid replies and additions one after the other that miss the point or deliberately try to misdirect, it's obvious where the humility should be coming from.

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This is literally the last i will say on it.

You scoffed and lol'd once again about my being wrong about my Limit being the Buy price.  You clearly confused yourself about which chart and what point was being made.  You create another short story about how silly I am and how you pointed out the Academy 2 months ago etc.  You think I don't have access to the internet Casey?  You realise there are thousands of pages to Link to for info on What is Spread betting etc.  The market, Lessons, charts Instruments.  Everything you know, you acquired over time.

You're arrogant, Sarcastic, and offer rhetoric that can be easily found by typing it into Google.

You may have a lot of knowledge on the subject, but a teacher you are not.

Who fails first?  The Teacher or the Student?

What is it you think you worked out???????????????

I asked what the Gray area was.  You said you didn't know.  I've figured it out and told you.  You've gone on and on about Mid Ask and Bid prices.  I never asked you!

I told you I knew and you lol'd, and referenced a mute point that was never asked!


17 hours or more later, still going on about Mid and Bid....I know what they are.  I know the spread.  I now I know what the Gray area is.

I've seen this approach from you with other people.

It's bad taste.


If you really want to help, use 1k find a trade, and Live stream your success of it. 

I told you my Limit was the Buy price.  you said i was wrong.  You were wrong.



Have a  great Day. :D

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59 minutes ago, nit2wynit said:

This is literally the last i will say on it.

You scoffed and lol'd once again about my being wrong about my Limit being the Buy price.  You clearly confused yourself about which chart and what point was being made.  You create another short story about how silly I am and how you pointed out the Academy 2 months ago etc.  You think I don't have access to the internet Casey?  You realise there are thousands of pages to Link to for info on What is Spread betting etc.  The market, Lessons, charts Instruments.  Everything you know, you acquired over time.

You're arrogant, Sarcastic, and offer rhetoric that can be easily found by typing it into Google.

You may have a lot of knowledge on the subject, but a teacher you are not.

Who fails first?  The Teacher or the Student?

What is it you think you worked out???????????????

I asked what the Gray area was.  You said you didn't know.  I've figured it out and told you.  You've gone on and on about Mid Ask and Bid prices.  I never asked you!

I told you I knew and you lol'd, and referenced a mute point that was never asked!


17 hours or more later, still going on about Mid and Bid....I know what they are.  I know the spread.  I now I know what the Gray area is.

I've seen this approach from you with other people.

It's bad taste.


If you really want to help, use 1k find a trade, and Live stream your success of it. 

I told you my Limit was the Buy price.  you said i was wrong.  You were wrong.



Have a  great Day. :D

you asked about the shaded area then said it was the spread, i told you you were wrong and you were, i then worked it out for you (it was to do with the ask, bid and mid prices). read the answers before replying.

you were wrong about the shaded area, you were wrong about the spread, you were wrong about what the limit is, you keep saying you need more education but you admit you never get round to it which is a shame because you don't know any of the basics at all, as a consequence your posts are misleading to others just starting out which is why I feel compelled to keep correcting them.

Using max margin on every trade to put on £170/point with a £2000 account. Good Lord.

I can understand why you want someone to copy trades from as your own technique of mashing the buy or sell button on a whim and a prayer is not working out for you. Still, that wont be a problem for long with a 60% drawdown on your account in just 4 months, and most of that time was spent on demo. 

Yes, it's a common theme people will repeatedly ask for help but then never take on board any of the answers or advice. Can you imagine the hundreds I've seen go through this forum over the last 3 and a half years, some things never change. 

 

 

 

 

 

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Almost every assumption you've quoted above above is wrong.

Nothing else to reply.

 

Thanks

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1 minute ago, nit2wynit said:


Almost every assumption you've quoted above above is wrong.

Nothing else to reply.

 

Thanks

All the working out is within this thread which you contributed to but never actually read at all.

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1 minute ago, Caseynotes said:

All the working out is within this thread which you contributed to but never actually read at all.

I did

 

Thanks

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Just now, nit2wynit said:

 

I did

 

Thanks

Look at the time stamp, hardly enough time to read let alone think, as usual just rapid fire meaningless, pointless reply.

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1 minute ago, Caseynotes said:

Look at the time stamp, hardly enough time to read let alone think, as usual just rapid fire meaningless, pointless reply.

You are incredibly defensive and seeking acknowledgement.  I've listened to you and thanked you the entire time.

I'm often met with arrogance ignorance and sarcasm from you.

You assume knowledge is the same as Learning.  It's not.


You assume everything about me and know Nothing at all.  Your opinion is based upon text only.

you assume most of your knowledge and it's simply opinion.

I've been very open in what I've done and why I've done it.

I don't need your validation to know this.

I'm learning.  I'm happy with this.

 

Thanks

 

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4 hours ago, nit2wynit said:

You are incredibly defensive and seeking acknowledgement.  I've listened to you and thanked you the entire time.

I'm often met with arrogance ignorance and sarcasm from you.

You assume knowledge is the same as Learning.  It's not.


You assume everything about me and know Nothing at all.  Your opinion is based upon text only.

you assume most of your knowledge and it's simply opinion.

I've been very open in what I've done and why I've done it.

I don't need your validation to know this.

I'm learning.  I'm happy with this.

 

Thanks

 

oh, so within a few hours I gone from needing to be more humble to suddenly being 'incredibly defensive and seeking acknowledgement', oh and arrogant.

it's not arrogance to refuse that Limit orders be renamed nit's entries.

it's not arrogance to point out that if the chart price is the same as the buy price then the chart price MUST be set to Ask.

it's not arrogance to point out that the shaded area refers to the min stop level if the chart price is set to ask for a buy order.

Nearly every reply to you has been after time spent on the platform checking this and that, what a waste of time. You don't even bother to read let alone digest the info in my reply posts, or to even check, you just dismiss because ...? of your own arrogance.

And that's my last word, until you respond with yet another bs reply.

  

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17 minutes ago, Caseynotes said:

oh, so within a few hours I gone from needing to be more humble to suddenly being 'incredibly defensive and seeking acknowledgement', oh and arrogant.

No, not within a few hours. I've told I've noticed this since I joined the forum.

There's no doubting your input Casey.  Not at all, but your Bedside manner needs some work.

You can't offend me, ever.  I don't take insults online by strangers personally, for that matter, to my face with people I know.  But it's obvious you're trying too hard to save face after you attempted to insult me cos you basically Got it Wrong.  Now you can't step back.

I've encountered many many people like you in my life.  Like I say, No humility.  Yet here you are still asking for permission to be Right.

You were wrong in your assumptions.  You are still wrong.

What would you like to achieve here?  I'm happy to resolve any misunderstandings.

Can I ask what you do in the real world and how old you are?  It might help me understand your Sarcasm better!

 

Edited by nit2wynit

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I'm going to guess you are in your 30's.  You have trouble in social encounters and often feel alone.  You think the world is dumb and you are smarter than everyone around.  But you feel desperately isolated.  Maybe you are on the Autistic Spectrum?  I don't know.  I'm just guessing as you have about me and what I've revealed about my Learning Process.

You might have a partner, but you don't feel appreciated.  **** life is sedated and often unfulfilling;; for them.  You are self involved but lacking spontaneity and generosity.  you feel like it's easier to belittle and prove your worth , that show support and humility.

I'm guessing here.  

Maybe if you stop insulting clients asking for guidance they' stop revealing who you really are.

But i do wish you the best.

If all that above seem Random, it's not.  Before i decided to learn about Trading, I was considering becoming a Psychologist.  6 years either way, I figured in time I could make more money this way.

But everything I said above may be entirely wrong.; but how could I prove it anyway.

I still thank you for your input Casey.

Edited by nit2wynit

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bedside manor is bs, your account is dying. keep your idiotic psycho babble to yourself.

I'm not trying to offend you but you always refuse to address the points I raise, you ignore them for your own peace of mind

The problem is yours, I've been with IG since 2012, you are not going to last 6 months unless you wise up

oh, just read the bit about a new career, well 6 years to be a professional, makes sense.

I am not insulting people, I am just telling them not to be so bloo dy stupid, this is a tough game and the ne're do wells won't make it.

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16 minutes ago, Caseynotes said:

I am not insulting people, I am just telling them not to be so bloo dy stupid, this is a tough game and the ne're do wells won't make it.

You are insulting.  You're certainly not supportive.

I still thank you for your input.

As for being Polite and BS.....well.

You said it pal.

 

You can either Help or be Insulting.  If you do both, it's kind of redundant.

 

Psycho babble?  Basic Human decency.  Manners.  Social decorum.  Delivery, Politeness.

Why are you here Casey?   To Educate, to to regurgitate?

 

Am I the pupil or the teacher?

i'm here to find answers, yet you seem to have them all, so why are you here?

As for account dying....I've lost more money on Wine, Drugs and corrupt biz partners.  1k.....christ it's pennies.

 

Edited by nit2wynit

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@Caseynotes  Stay with me pal.  :D

I do appreciate it.  we're not robots bud.  It takes time, erros, questions, understanding.  It's not something you learn in a paragraph.  try not be be so angry and frustrated.

Stupidity is expecting a change because of words, not learning.  You think i'm stupid?  Wow.  I learn by doing, by failing.  Cost me 20k for U~ni degree, learned Eff All.

Cost me so far 1k about trading in 4 months.  I think that's a Good deal!

Edited by nit2wynit

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you fail to acknowledge the time i have spent on you, going over problems on the platform, working out what is and what isn't, for you, I don't even trade on the blimmin thing.

I am helping by being honest and truthful, if you see that as being insulting then that's just your perspective (from a position of arrogance obviously) .

I'm here because I've seen this rotation a hundred times, 80% of new traders don't last 9 months, it's like being in the bloo dy matrix.

Again you have added 2 replies before I can send a reply to your post. Try less rapid fire and more thought.

 

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3 minutes ago, Caseynotes said:

I'm here because I've seen this rotation a hundred times, 80% of new traders don't last 9 months, it's like being in the bloo dy matrix.

Do you still want to help me?

everything I post is pregnant with thought

Edited by nit2wynit

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