Spreadbet Beginner joins the Youtube age

So I figured maybe it was time to get on with that thing i’d been meaning to do for aaaages. I’ve wanted to do some videos on Spreadbetting for a while now and yesterday I recorded and uploaded my first ever Youtube video.

It was mainly an introduction to me and my background, and I talk about what I plan to do going forward with the videos etc.

The lighting was poor and I had to keep my voice down to a monotonous tone as the kids were asleep, so I apologise in advance for the quality. However, it’s my first crack at a video and I’ve already learnt a fair bit about “piece to camera” filming just from doing that one. I hope to improve my technique the more vids I do.

If you have a few minutes spare you can check it out. And drop me a comment, even if you think it’s shit 🙂

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Comments

  1. great video, fair play for appearing on screen. makes it all the more interesting. would like to see you analyse a couple of trades from open to close. maybe one win and one losing trade.

    glad its going well for you. will you be calculating a nav going forward?

    • Hi Paul

      Thanks for your kind comments. I do intend to do a bit with the charts. Just to show how I use them really. nothing groundbreaking I can assure you but hopefully interesting.

      As for calculating a NAV, I suppose that’s something I should think about doing more of. I mean, I have my profits and losses measured but not my running costs. These as you can imagine are rather minimal though. But if I were running as a business I’d need to factor in my training costs and my chart subscription costs. Something I had in the back of my mind to do at year end.

      thanks for reading

      • i was more thinking about the timing of putting in new capital which screws with return figures as opposed to costs. thats the pleasure of trading – it’s cheap as chips and its tax free. you just need to be good at it!!

  2. Hi Chris,

    Great introduction, fair play to you for opening it all up for everyone. I’ll be following your progress and hopefully learning with you.

    Got your follow via twitter today and pleased to see someone else in a similar situation to myself. My spreadbetting journey started in March this year and has so far been ‘educational’, to say the least.

    I started with account capital of £500 and after banking profits of up to £300 in a month over too many trades I’m now looking at losses of almost all of my capital.

    The positives are that I’ve learned the hard and fast way to be more cautious in my strategies and of course, I now have an excellent porftolio of bad trades to analyse.

    When I looked into them all in a bit more detail, I found that over 80% of my positions eventually went where I was expecting them to go. My problem in each of the trades (on UK Equities) was that I got stopped out too early. I was setting my stops based on my risk; eg. I wanted to risk £50 per trade, £10 per point (10% of my account – yes, I was playing a risky game for quicker gains), and in the beginning I tried to time my entry so that there was no chance of going the wrong way. I would look at the price and open £10 positions – this would only give my a 5 point stop. I opened them based on recent price action and a general trend bias.

    Many of them got stopped out because of he daily fluctuations in price range.

    It was only a few weeks later when I started to look at previous support/resistance levels as an indicator of where my stops should be instead of my arbitrary judgement of good timing.

    In my last blog post I highlight two of these trades that really managed to grate me because had I had a little more give in my stops, I’d be looking at close to £1000 profit!

    Now, as things stand, I’m almost wiped out with an account balance of £85, 2 open positions in HAVAS SA and EU/GBP (both currently showing a loss).

    The annoying thing, neither trade was made with any real judgement and both on the back of news.

    If I’ve learned anything, it’s that you cannot underestimate the psychological battle of being a trader, which so far, to me, seems to be much more important than having a good system.

    • Hi

      I think I’ve read that the 80/20 rule can apply to the whole psychology vs system debate. 80% psychology is probably right. Sounds like your not far off getting it right, just need to look at wider stops and lower bets perhaps. It’s less exciting but then I’m sure anyone would rather a profit at the end of the year in exchange for a bit of the roller coaster treatment.

      Just checking out your blog now.

      Thanks for reading and commenting. Good luck on your current trades. If you need any help gimme a shout. I’m not an expert but might be able to exchange some ideas between us.

  3. Hi, Chris

    A great intro to your trading. Congrats on your current trades. Will be watching the vids.

    Di

  4. Hey Chris,
    Loved the vid. From what you say about your success thus far with spread betting last year and this year it seems as if you have something for a ‘Midas touch’ when it comes to picking trades! Look forward to your pearls of wisdom.

    Nick

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