Capital Spreads Vs SpreadCo, which one is better? There’s only one way to find out, Fight! (No I’m not Harry Hill from TV’s Burp, I just thought it was a good quote). I’m raising the question because as you may or may not know I trade with both of them. Today I tried an interesting experiment that really came about by chance more than anything else. I was checking through some charts looking for potential trades and I spotted a couple. (more on those later). So I made the trades and realised that my position size for one of them was half what it should be. So I decided to place the exact same trade with Capital Spreads and SpreadCo. I don’t know if it will really prove much as I think both of these spread betting companies offer different things which is why I trade with both. What will be interesting to see is if one exits and the other doesn’t or if one suffers slippage and the other doesn’t. I’m not saying that either of these scenarios will happen but it will be interesting to see if it does.
Moving on. Thanks to Mark and Vince Stanzione for their comments on the last post about withdrawing funds from spread betting companies. It would seem that most of the time people don’t have issues but the people that do kick up a stink about them. It’s always the way though, people do not take the time to review good service but if it’s bad service they make the time. I keep telling my misses the same thing. She works for a big hotel chain and she’s always telling me about the bad reviews they have an wonders why there aren’t that many good reviews.
Getting back to Vince Stanzione I’ve been going back through his DVD’s again just recently as a refresher course and one thing that he talks about in there really stood out to me. He was talking about people these days always feel the need to be connected e.g. checking e-mails or checking their stock prices basically because they are bored. It reminded me or me when I first started spread betting back in 2009. I would check on my trades frequently throughout the day and sometimes watch them as they ticked up and down. I realise now how sad and unnecessary that was. There is no need to check every 5 minutes. Once a day is plenty. Plus it’s not what I want from spread betting. I don’t want to sit there looking at a screen all day long, I do that already. I want to free up my time to do other things. I’m only half way through the DVDs as I’m watching them in stages to try and digest what he says and really take it in.
As I mentioned earlier I have made a few new trades today. They are both trend following trades and hopefully the trends will resume shortly. I know I said my outlook of the entire market was bearish in my weekly FTSE analysis and maybe these new trades will come back to bite me but if I don’t try I’ll never know. The new trades are in Dixons buy at 17.45 stop at 13 £5 per point and Debenhams buy at 78.9 stop at 73 £4 per point. The Debenhams spread bet is the one that I split across the Capital Spreads and SpreadCo accounts. Both of these stocks have been trending upward recently and have just pulled back. My stops are a little wide and I may exit before the stops get hit if they fail to resume the trend. I guess well see how they pan out.
For those that check my list of recent trades I have not been updating it recently. The reason for this is I have moved all my trades into my online position logging utility and have yet to implement making my trades publicly viewable. If you would like to take a look at this position logging utility you are more than welcome to register and start keeping track of your own positions. This utility is in a beta release though as I am still working on it when I get the time. It’s essentially everything I think I would like to be able to do to help me keep track of my positions and review my performance. You can expect much more functionality as I get more time to work on it. Just so you know the login page is in the navigation bar on the left of this page. You can also get to the registration page from there too.
Right that’s all from me for today folks.
Until next time,
“May the markets be with you!”
The Spread Betting Beginner