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I know that there are many people who have or are thinking about taking up financial spread betting as a way of trading. I wanted to give you a little history about why I chose to start is and let you know what I like and don’t like about it.

I have been financial spread betting for a while now with varying degrees of success. When I began I did make more losses than profits. That record is understandable I suppose. The problem I had was that I blamed the market. I made up excuses like it was too volatile and that was why I was making losses. I now accept full responsibility for it.

I was not alone in making losses in my first year. I don’t have the stats but I imagine that the majority of traders lose money in the first year. You should expect that too. You should set a goal of trying to breakeven in the first year. Do that and you are doing well.

Hopefully you are still intrigued about financial spread betting to make you continue to want to learn more even after learning you might lose money, especially at the beginning. OK, so given that you should expect to lose then how big should you trade? Well you should keep your bet sizes to a minimum.

You are only betting small to see if you like the financial spread betting and waiting (gaining experience) so that you are in a position to win bigger. It will take time and it will require patience. You need to be left in the game when your time comes. Your time won’t come in the first year unless you are a genius. It will come though if you stick it out.

I hope that you do give financial spread betting a go. There are lots of advantages to it but remember to take it steady to begin with. If you take it easy and understand the risks then you can become very wealthy.

There are lots of advantages and disadvantages to financial spread betting. You need to learn about these before you start. Nigel Howell will help you with that so go to his website for more resources about financial spread betting.

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Tagged with: day trading • finance • financial spread betting • financial spread trading • money • personal finance • spread betting • stock market • wealth building

Filed under: money

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