RE: Spread betting Spikey25 Sep 2017 21:26
hi daniel, yes, i do make some money trading,
would be a bit daft to keep going if i didn't.
but i'm more reliant on investment, not trades.
best tip really is *stay away from s/bets*, but also
stay way from short-term trading of any sort,
since as you say most pis do end up losing.
(unless you have some special reason to think
that your background /skills puts you in the 15%?)
if you must dabble, would suggest, firstly keep the
stakes *small* - lots of people lose on spreadbets as
they get overexcited by the leverage that's possible,
seriously bad idea to get sucked into that. secondly,
don't bet for the sake of it ... if you can't see a good
trade that day/week/month, don't place one! lots of
people get into a bad habit of overtrading, looking for
gains that are too small (which then tempts them into
stake sizes that are too big). thirdly, don't double down
on bets going wrong - if you had an investment idea,
but it's not going as you predicted, *don't* chuck more
money at it. step out, & think again. fourthly, don't do it!
fifthly, if you are going to do it, take it seriously, which
means that each and every trade should be placed only
if you think it's a good one ... don't place any bets at all
"for fun", and don't put anything "in the bottom drawer"
that doesn't work out. if something failed, cut your losses
and get back what you can from the stake for another day.
too many people trade seriously with 80/90% of their cash,
but then waste the profits on a few frivolous 'side bets'
sixthly, don't do it!
atb.