IG Index Spread Betting Seminar

I went to an IG Index seminar tonight at the very posh Celtic Manor Resort in Newport. My view was it was a sales pitch to recruit new punters. They said they had lost a few customers in the downturn and they spouted about some guy that opened an IG account with £70k in 2009 and he had built it up to £6.5m! They failed to state its value today or show evidence of it! They also failed to say 90% of spread bettors lose money! They worded it: ‘over 50% of spread bettors lose money usually due to poor risk management lol. Ho and David Jones was pushing sales of his new book but I didn’t bite, however I did take a very large bite of the free posh grub and wine that was on offer, it was a million miles away from my Tesco value beans and pizza! The smoked salmon topping was still there and the cheese hadn’t disappeared either! My mate stopped me from filling my Tupperware box but luckily I had a coat with big pockets! I also made short work of a couple of bottles of expensive very nice red so I’d say they won’t ask me to come again?

After the seminar I had some questions but the guy running it was by his own admission more interested in getting into the restaurant before 9:30pm for his (presumably free) posh feed so he asked us to ‘email him’ with questions, I found the seminar pretty useless to be honest. Lots of hind sight trading ie if we had bought here and sold here we would have made a fortune! Well we all know that but what I wanted to know was where the chart was going to be next week but he couldn’t tell me? Examples of RSI divergence were given (hindsight view) to predict the future direction of the chart but even a trucker noticed the divergence didn’t start and finish in the same place but I kept quiet and drank more of their wine!