Currency spread betting markets may also be available through other companies. Notes.
2)Where can I find Live Spread Betting Prices for the Euro - Pound Market?
For forex spread bets please see the above tables. Where a company offers the relevant market they will also provide clients with live prices on that market.
3) Where can I find Live Charts / Candlestick Charts for the Euro - Pound Market?
Spread betting companies often offer a variety of free data to their clients (accounts are subject to status, terms and conditions).
The most popular forex data, apart from live prices, tends to be the candlestick charts. The time period of the charts can usually be varied. You can often alter the candlestick charts to show market movements in the order of 1 minute, 2 minutes, 5 minutes, 10minutes, 1 hour, 1 day or 1 week periods.
With a number of the charts you can also update the settings to help your technical analysis. For example you can add Bollinger Bands and 20, 50 and 100 point Moving Averages and forex candlestick charts are currently available with:
Trading Charts?
Spread betting charts may also be available from other companies. Notes.
Sample Currencies Chart from Financial Spreads:
4) How do you Spread Bet on the Euro - Pound Market to Go Up?
Euro/Pound Financial Spread Betting Example
If you decide to spread trade on a foreign exchange pair like the Euro/Pound then, looking at a spread betting company's website, you may find a spread of £0.9012 - £0.9014.
Therefore, you can spread trade on the Euro/Pound to go higher than £0.9014 or to go lower than £0.9012.
If you are spread trading, you bet on every unit the market moves up or down; specifically, for the Euro/Pound market a unit is £0.0001 of the forex pair's price movement.
In this case, you could choose to bet £2 for every £0.0001 the Euro/Pound moves up or down.
Betting on the Market to Rise
If you were to buy the Euro/Pound at £0.9014 and the forex pair went up then the market might be re-priced at £0.9052 - £0.9054. In that case, you could close your spread bet for a profit, if so you would sell at £0.9052.
Your P&L = (final value of the market - initial level of the market) x stake per £0.0001
Your P&L = (£0.9052 - £0.9014) x £2 per £0.0001 stake
Your P&L = £0.0038 x £2 per £0.0001
Your P&L = £76 profit
Markets can also fall, if the market had decreased to £0.8978 - £0.8980, you may decide to close your trade to prevent further losses. Assuming this was the case, you would sell your trade at £0.8978.
You would do this with the same £2 per £0.0001 stake:
Your P&L = (final value of the market - initial level of the market) x stake per £0.0001
Your P&L = (£0.8978 - £0.9014) x £2 per £0.0001 stake
Your P&L = -£0.0036 x £2 per £0.0001
Your P&L = -£72 loss
5) How do you Spread Bet on the Euro - Pound Market to Go Down?
A major benefit of spread trading is that investors can short the markets.
When we started this example, the spread betting price was £0.9012 - £0.9014.
If you were to go short of the Euro/Pound at £0.9012 and the forex pair fell then the spread could move to £0.8968 - £0.8970. If that happened, you might decide to close your bet for a profit at £0.8970.
Your P&L = (initial level of the market - final value of the market) x stake per £0.0001
Your P&L = (£0.9012 - £0.8970) x £2 per £0.0001 stake
Your P&L = £0.0042 x £2 per £0.0001
Your P&L = £84 profit
Financial markets also move up, if the market had moved up to, as an example, £0.9050 - £0.9052, you could choose to close your spread bet to limit your losses. If so, you would buy the market at £0.9052.
So, with the same £2 per £0.0001 stake:
Your P&L = (initial level of the market - final value of the market) x stake per £0.0001
Your P&L = (£0.9012 - £0.9052) x £2 per £0.0001 stake
Your P&L = -£0.0040 x £2 per £0.0001
Your P&L = -£80 loss
Euro/Pound Rolling Daily spread betting prices accurate as of 23-Nov-09.
6) Where can I find more on Spread Betting on Currencies?
For more details on trading the currency markets see Currency Spreads.
Note - Spread Betting carries a high level of risk to your capital and you can lose more than your initial investment, it may not be suitable for all investors. Ensure you only speculate with money that you can afford to lose and that you fully understand the risks involved and seek independent financial advice where necessary.
'Euro - Pound Spreads', Guide by D. Jones, last update: 15-Jul-10
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