Avoid the scams, find out which Business Opportunities actually work
20th June 2011
Filed under: Financial Trading — Ben @ 10:08 am

These updates were previously provided on the main website under the Vince Stanzione review page but I’ve decided to move them onto the blog as it is easier to post them here.

A load of trades expired on the 14th June 2011 and caused a large move in the balance of the account.

Here are the important numbers:

Trades opened: 42
Winning trades: 28
Losing trades: 13
Break-even trades: 1

This leaves my spread betting account up 24.1% from the balance at the close of play on the 15th March 2011 (the time of the last update).

28 trades rolled-over – can you guess why? These will all expire on the 20th September 2011.

As this account approaches its first anniversary, the overall return on closed positions is a very healthy 27.08%.

Speaking to a business associate over the weekend it occurred to me that not everybody has a vast understanding of spreadbetting and that, compared to some, I’ve got plenty of experience! My account with Finspreads was opened way back in 2004 and has had many ups and downs.

In fact, I discovered some old trading statement emails from back in April 2004. These showed just how undisciplined my trading was in the early days.

For example, I lost almost 50% of my bank in just 10 positions over a week (!) and then made 20% from 9 positions over the next two weeks when I was on holiday and away from a computer.

The style of trading I adopt now – where I often don’t check my positions for days, and only open new trades once a week – is far less stressful and appears to be performing quite well at present.

With the low amount of funds I have I am limited in the markets I can trade. All of my trades over the last year have been on UK shares that are under £7 whereas back in the days where I was losing a lot of money I would trade Gold, GBP/USD, US shares and stock indices.

My main aim for the first 12 months of this new, cautious approach to spreadbetting was to simply not lose money and providing that I don’t suddenly make a huge mistake or get caught on the wrong side of all of my trades, I could end up doing better than I imagined.

With stop losses in place on all my trades, I know that I am covered to an extent against a sudden crash (or boom) in the markets. Providing we don’t see massive gapping occurring in UK FTSE 350 shares I should survive.

What was missing in my trades back in 2004 was a solid money management plan. Everything I traded was at, say, £1 a point or £2 a point. It was always rounded up to the nearest pound.

Today it is different. One trade I opened this morning is for 72p a point, another for £1.05 a point. A few weeks ago I opened a trade for £5.23 per point but this has the same risk as all of the others.

Is this money management plan helping me to make successful trades? Maybe. What it definitely is doing is allowing me to relax. I know the worst case scenario for any trade I make and that makes it far less stressful.

No margin calls, no anxiously watching the screen hoping for a turnaround.

Risking only 2% per trade means I’d have to have 50 losers in a row to go bust. Although this can happen, the likelihood is low.

At the moment, it is quite enjoyable to be a “spreadbettor”.

Vince Stanzione’s spread betting course is available at:
http://www.thefintrader.com

8 Comments »

  1. Hi there

    This is more of a question than a comment. How do you feel about whether or not Vince’s claim that you can make several hundred’s of pounds profit per day is realistic.

    Thanks

    Comment by Craig Barlow — 9th May 2013 @ 6:53 pm

  2. Hi Craig,

    I imagine that after several years of trading you can work your way up to making hundreds of pounds of profit per day. However, first you would have to get used to losing money on trades and you would also need to have a large bank in order to make that kind of profit.

    Plus you need to realise that Vince doesn’t mean you will be making and withdrawing hundreds of pounds everyday but rather you will be making profit over the long term which averages out at “hundreds of pounds profit per day”.

    I haven’t updated my results in some time but as of today if I were to close my positions as they stand I would be 40% up over 3 years on my initial (and fairly small) starting bank.

    Technically if I had started with a bank of £300,000 and made the same profit I could legitimately say I have made hundreds of pounds profit per day! So I guess the potential is there.

    If you imagined that you could start today with £300 and make hundreds of pounds profit per day next week I’m afraid that just isn’t going to happen.

    Hope that helps,

    Ben

    Comment by Ben — 10th May 2013 @ 11:03 am

  3. Hi Ben

    I bought the course just over 12 months ago – and then other stuff happened and it stayed on the shelf – nobodies fault but mine! Just about to have another go with it and have been googling for some inspiration and found your site. Your 40% performance over 3 years is very impressive, but as you say you need a fair amount of capital to make that 40% enough to pay the mortgage!In your view, is it worth the effort?

    Regards

    David

    Comment by David — 5th June 2013 @ 9:55 am

  4. Hi David,

    For me, yes, it’s definitely worth the effort because I have a real determination to succeed in financial trading.

    There are ups and downs but overall I am comfortably up and it is another income source along with several others.

    Start small, don’t take big risks and keep an open mind.

    And don’t forget that as a customer you can email Vince if you have any questions.

    I closed the positions that I spoke about in the comment above and now my bank stands 48.5% up over 3 years. However, I do have some positions open again which expire in September so this could rise or fall over the next 3 months.

    Cheers,

    Ben

    Comment by Ben — 5th June 2013 @ 10:12 am

  5. Hello Ben – Just a quick question if I may – How do you choose which share to trade? Is it a question of selecting any stock then, if it conforms to a 20 day moving average (long or short) then you would trade.
    Regards
    Craig

    Comment by Craig — 15th June 2013 @ 10:46 am

  6. Hi I was looking at purchasing the course , but after comparing the sales pitch with the actual view of a real user , I am now having second thoughts .
    I was considering starting with approx. £2000-£3000 initially, with the aim of doubling the money every 4 months or so . I now realise this is not going to happen . 40% over 3 years is not a great deal better than some of the alternative investments out there in which your initial capital is safe.

    kind regards ken

    Comment by ken — 30th April 2014 @ 12:30 pm

  7. Ben, I don’t know if you are online. I bought the course recently
    and was curious to know what bank you started with? Regards
    .

    Comment by Rahamut — 25th May 2014 @ 1:07 am

  8. I thought of buying this course with a view to convert 20,000 pounds to 1 million in 5 years and now I feel doing my software contract job fetches more money than this(atleast 350 gbp per day,risk free).i think this trading plan needs atleast 100000 pounds as capital to make a profit which creates some change to my life.

    Comment by john george — 5th July 2014 @ 5:20 pm

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