12 Tips For Improving Your Spread Betting - Trader's Guide
I've had some great early gains with my spreadbets making a lot more than my initial capital and thought financial spread betting on the stock market was easy. Not so however and soon I ended up losing my initial profits; and had to top up to maintain my capital.
The spreadbetting trading rules below are mostly for beginners and intended to alert them on not repeating my early mistakes in my trading career. The trading rules are simple, but we need to read and remind ourselves daily of the simple wisdom! As they say: Audio sapiens ones quod perceptum!
About the author
My name is Janice Bollinger. I have been trading through the spreadbetting trading medium for over 3 years now. I am profitable currently, but working on making this consistent, as well as attempting to build my capital to a level where the profits actually mean something. In my free time I also help with updating the website of my mentor: Stock Market Guide
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- Forget Aim shares - the buy/sell spread is too big usually and will gobble up any profits...perhaps better stick to FTSE 100 companies.
- Get a cheap online broker (should be less than £12.50 a trade) or use IG Index or Capital Spreads spread betting.
- Avoid trading/holding when it's company result's day, as it is a pure gamble and the shares can move +- 10%.
- Don't try and go long on a share which is falling fast, hoping for a reversal...it usually doesn't work.
- Don't try and go short on a share which is rising fast, hoping for a reversal...it usually doesn't work.
- Trade with the trend...I always try and trade in the direction of the Bianca blue 50 day trend channel.
- Perhaps try and buy when the share has fallen back for a couple of days when the 50 day trend is up.
- Ignore any hype on forums...when *everyone* is positive it can be dangerous.
- Try and trade over a few days or couple of weeks, if you "day trade" you will probably find you lose money.
- Shares go up and down...don't get shaken out if the share price goes against you.
- Set a strict level at which you will cut your losses...if it goes wrong big time, best to get out and preserve your capital.
- Try and run your profits and cut your losses...human nature tends to do the opposite.
- Diversify your portfolio... never hold all banks or all oil shares for example.
Article Tags:
Info Page | Spread Betting |
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