Could someone point out any flaws in this plan, it occurred to me after I read in someones thread a while ago that if they had either very wide or no stop losses then every bet/trade they made last year would have been profitable.
Putting a long bet on GPB/USD (for example) with a stop loss at £1=$1, which I am taking to be so unlikely as to be nearly impossible. That's about 2000pips away at the moment. The aim would be to make only 10% in less than a year, bearing in mind 2 weeks ago this pair was 200pips higher, this could happen in a matter of days or weeks.
Having read about the interest charges for daily funded/rolling bets I would use the quarterly bets which I gather have a broader spread. I don't have an account at the moment (I never have) so I don't know how wide the spreads are on the quarterly bets but I am presuming they are not in the 100s of pips?
I would be considering this "an investment" rather than a "bet", with the thinking being that even if it took 2 years to make 10% that would be 5% per annum "interest" which is better than any bank account.
I haven't thought about what I would do if it made me 10% in a matter of weeks, i.e. would I let it go further up or bet the other way. I haven't decided.
Many thanks for any advice/input people wish to offer.
Putting a long bet on GPB/USD (for example) with a stop loss at £1=$1, which I am taking to be so unlikely as to be nearly impossible. That's about 2000pips away at the moment. The aim would be to make only 10% in less than a year, bearing in mind 2 weeks ago this pair was 200pips higher, this could happen in a matter of days or weeks.
Having read about the interest charges for daily funded/rolling bets I would use the quarterly bets which I gather have a broader spread. I don't have an account at the moment (I never have) so I don't know how wide the spreads are on the quarterly bets but I am presuming they are not in the 100s of pips?
I would be considering this "an investment" rather than a "bet", with the thinking being that even if it took 2 years to make 10% that would be 5% per annum "interest" which is better than any bank account.
I haven't thought about what I would do if it made me 10% in a matter of weeks, i.e. would I let it go further up or bet the other way. I haven't decided.
Many thanks for any advice/input people wish to offer.
Using Spreadbetting for potentially long term FX investment
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