Newbie question - How to bet on the ASX for the day?

Nelson67 · 20 September 2011

Hi,

I am a relative newbie to trading but I did buy $15k worth of Apple shares back in 2006 for $67 each and they are now worth over $400!

I have a question. Lets say I have a strategy which will predict which way the Australian market will go for the day. What is the best way to bet on the market for the day or for a few days?

Buying the equivalent amount of 200 shares is not an option. Maybe trading an Exchange Traded Fund like IOZ would work but I am wondering if it is possible to achieve the equivalent through options or futures?

tech/a · 20 September 2011

Nelson67 said:
Hi,

I am a relative newbie to trading but I did buy $15k worth of Apple shares back in 2006 for $67 each and they are now worth over $400!

I have a question. Lets say I have a strategy which will predict which way the Australian market will go for the day. What is the best way to bet on the market for the day or for a few days?

Buying the equivalent amount of 200 shares is not an option. Maybe trading an Exchange Traded Fund like IOZ would work but I am wondering if it is possible to achieve the equivalent through options or futures?

SPI Futures Contract.

You can have a look at it on say a site like Futures scource.
code AP-Z1

Knobby22 · 20 September 2011

Or you can go to a gambling site and literally bet! -

https://bluebird1.betonmarkets.com/d/c_Start.cgi?l=GB

Nelson67 · 20 September 2011

Thanks for the replies. tech/a where is the site Futures source? I couldn't find anything obvious after a google search.

tech/a · 20 September 2011

Nelson67 said:
Thanks for the replies. tech/a where is the site Futures source? I couldn't find anything obvious after a google search.

http://futures.quote.com/

davede · 27 September 2011

Am also a fan of futures source (yes i believe they changed their name recently to futures.quote)

As you're a newbie you'll need to demonstrate a sufficient level of knowledge before being allowed to trade futures through many brokers. If you want long only exposure to the Aussie share market ETFs can work well.

The S&P/ASX200 ETF is STW.

Hope that helps

P.S. Congratulations on the Apple trade! Good Stuff!

young-gun · 6 October 2011

Nelson67 said:
Hi,

I am a relative newbie to trading but I did buy $15k worth of Apple shares back in 2006 for $67 each and they are now worth over $400!

I have a question. Lets say I have a strategy which will predict which way the Australian market will go for the day. What is the best way to bet on the market for the day or for a few days?

Buying the equivalent amount of 200 shares is not an option. Maybe trading an Exchange Traded Fund like IOZ would work but I am wondering if it is possible to achieve the equivalent through options or futures?

You can also trade cfd's(contract for difference) on the asx 200. it's more of a real time thing so you have to get in before you think big moves are gonna happen. But you can set limits and losses. Beware that cfd's are a leveraged product and without proper knowledge and research you can get yourself into trouble. You need to sign up with a cfd broker for this.

LostMyShirt · 8 October 2011

Try IG Markets CFD indicies contracts. Be very weary of those though - I use IG for DMA CFD's so I don't need to worry about my losses being IG's gains and visa versa. There is always a buyer and seller that you are buying or selling into and IG make money from the fees.

Newbie question - How to bet on the ASX for the day?

Nelson67

tech/a

No Ordinary Duck

Knobby22

Mmmmmm 2nd breakfast

Nelson67

tech/a

No Ordinary Duck

davede

young-gun

LostMyShirt

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