Posts Tagged Spreadbetting
The markets have taken a bashing of late and extremely oversold. Silver has had 10 straight down day and you would expect a bounce. Two nights ago there was a pinbar showing support and then the following day, a green bull bar. I bought at the close of this bar at 28.05 and it rode up nice today. I closed out today at 28.76 for 71 points.
I closed for two reasons... the market is still in a downtrend and after a weekend, anything can happen with the markets.
It was nice to grab 71 po
May 18, 2012
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Today my focus was getting short on the GBPJPY forex pair. I decide this by looking at the daily and 1 hour chart. This gives me a rough idea where I think the market is heading. This is purely a visual thing to see the direction of the trend... nothing complicated.
What is a bit more complex is looking for an entry after you've decided which way you want to trade.
I've annotated the chart slightly differently today and I'll go through it now.
So after deciding to go short in the
March 28, 2012
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Spreadbetting has been in the UK for over 10 years now. In a nutshell, it is tax-free financial trading, in other words you do not have to pay any tax on your profits. Gambling as a whole in the UK is tax free... this means that spreadbetting is classified the same as the casino.
There is also a fine line in trading whether it's gambling or not. I think for the majority of people it could be classified as gambling as they don't actually have a plan and don't really know what they are doing. T
March 25, 2012
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