Chris Kobewka is a major figure in the world of spread betting whose tale could quite possibly lead someone to take advantage of one of the manifold spread trading offers to hand and open a live account. He has written two books on the subject and had his account closed by Finspreads for being suspiciously successful.
Kobewka was born on a farm in Lincoln in 1960. Since he was 13 years-old he wanted to become a stockbroker. He had not the slightest idea what it was they did for a living, but he knew they made plenty of money and had large houses. He became the man of his family at the age of ten upon the death of his father. At 16, he finished school and began work as a mechanical engineer.
Kobewka became his employer’s apprentice of the year, and developed his skills in electrical work, sheet metal, welding, milling, fitting and turning. He was promoted and participated in a management buyout.
At first, he established a spread betting account to bet on Grand Prix races and other sporting events. He then diversified into financial trading, and in his first month transformed a stake of £200 into more than £11,000. Anyone wishing to emulate him can do so using Cantor spread betting.
Kobewka is very frugal. He says he “just hates to lose money.” He lives in a modest flat in Manchester and drives an equally modest Rover 214, which places him in a lower bracket for car tax. He has never been on an aeroplane or left the United Kingdom. His hobby is cooking, and he loves to make stews and curries. He is divorced, but takes care of his three sons twice a week.
One of his spread betting techniques is “the fade,” where he trades in the opposite direction to the short-term trend. He trades once a day and says he wins much more than he loses. He sometimes stays up late to trade the Nikkei index, but is at his happiest trading Dow Jones.
Kobewka is happy to make any profit, even as little as a fiver. While most traders say the risk-to-reward ratio should be no more than 3:1, Kobewka will often allow a trade to go 40 points against him if the potential profit is sufficiently large. He uses the system described in his book, 60 Minute Trader System.