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Spread Betting Tips

  • 01

    Disciplined Trading

    It pays to settle upon a trading strategy and then keep with it until you close out the trade in question. While it may be tempting to alter your technique in the middle of a trade - especially if it’s not panning out as you planned - it is risky and is not really conducive to long term strategy.

    By sticking with a trading technique over a decent period of time across different trades and markets, you give yourself the opportunity to find out a significant amount about how these markets work. You may then be able to learn valuable lessons and hopefully alter your strategy accordingly. Gradual evolution will generally be a more successful policy than constant frenzied revolution.

  • 02

    Be realistic

    When you place a trade it’s a good idea to envisage the eventual outcome you’d be happy with and it’s wise to make that goal a realistic one. This is especially true when you start trading. It’s best to begin with small trades with the idea of making a modest profit. This way, if things do not go your way you will not end up too disheartened. No one can guarantee profits 100% of the time - not even the top professional traders - so manage your expectations accordingly.

  • 03

    Understand the market

    You wouldn’t invest your hard-earned money in a company without first taking some time to do a bit of research on them. You’d want to know how it had performed in the past and what the forecasts are for the future.

    Online spread betting should be treated in the same way; before trading on commodities, currencies, index or stock, make sure you’ve done your research. With the facts to hand, you’ll be much better positioned to make the sort of informed decisions that will lead to consistent profits.

  • 04

    Don’t be afraid to cut your losses

    It is occasionally prudent to just accept that a trade isn’t going well, close it and take the loss. The temptation is to stick with the trade in the hope that your position will recover, but the risk is that the value will continue to fall. It’s far better to make a small loss and move on relatively unwounded, than to suffer a huge one because you thought that the position would reverse itself. However, this isn’t to say that the strategy you have chosen should necessarily be discarded due to one unsuccessful trade; you will have to analyse the trade in further detail to properly determine whether to continue your current strategy with some slight tweaks, or adopt a new method altogether.

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