Spread betting is an exciting albeit risky business to be involved in. Trading can be great and offer a lifestyle with freedom and financial success. However spread trading is not as easy as we would all want it to be. Like any job trading successfully can be learnt though it takes considerable time and effort.
Now that you have covered the essentials and are probably eager to get started, do remember that successful trading is a journey and not a race. Ensure that you have a full understanding of the basics of opening and closing a position as well as knowing how to manage your open positions.
Spend a lot of time getting educated, and speak to people all the time to get as much information as you can. It can be a lonely and difficult task trying to beat the market by yourself at home, trying to pick tops and bottoms, technical analysis has gone way beyond that.
The rewards of developing a successful trading plan and adhering to good money management can far outweigh the hours of learning. The flexibility of trading as a profession can allow life choices that normal occupations simply cannot.
To recap;
- Select and work with spread trading company/ies you are comfortable with and make sure you know your trading platform easily and can manage your portfolio efficiently.
- Keep discipline at all times when trading and when selecting your trades.
- Remember that knowing when not to trade can be one of the best decisions to make.
- Stick to a good Money Management system.
- Control and Manage your losses.
- Remember the markets, governments, world events, economic cycles etc. are in a constant state of change. This should be included in your analysis and reflected in
your trading.
Before we come to the end, I would like to use this opportunity to personally congratulate you on furthering your own financial education. There is a lot of helpful information in this e-book and digesting it all is not easy. Some of the risks associated with spread betting we have looked at were more obvious than others. My hope is that it has in some way made a positive contribution to your understanding of the financial markets. I do hope enjoyed your learning experience and found the guide useful and informative.
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So what now?
Take action; review your trading plan to see if elements of this guide can be added to it. If you do not have a trading plan, now would be a good time to start one. It really does not matter how you write the trading plan just so long as you have one.
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