5 Spread Betting Tips

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Spread betting is growing at a rapid pace in the UK. Spread betting has a massive appeal because of the unlimited nature of the bets. It also is a tax free way to take advantage of stocks and commodity markets. Besides obvious tips like choose a reputable company with the best Spreads Bonuses, I offer five simple common sense tips for new spread betters.

1.Start Small

I would advise new punters to start small. Depending on your personal situation, this might even mean a trial account with fake money. As long as you can afford the chance you might lose it, actual money is always better as you will try your best. Start with small bets, in markets you best understand. You don’t have to make a lot of bets at first, concentrate on making winning ones. When you grow to making larger bets you will not have to win very many to have a sizable return, especially if you properly limit your losses.

2.Use Data

It is important to understand the market you are going to trade. Stay focused on an area you can fully research. You need to read charts, watch for news and understand the trends. Do not let initial success allow you to get lazy about digesting all the data. To be a successful spread better you will need to stay educated, and current. This is a game where the winners win by knowing more then the losers.

3.Don’t Use Tips

This is an odd one for a ‘tips list’, but I mean specific trade tips. You do not know how the person came by the tip, it might just be a ‘hunch’. Also, even if it is a great tip, how will you know when to exit the position? Look to make wagers you understand. You should know why you are taking the position, and what factors delegate your exit.

4.Write a Plan

Every time, before you open any bet, write down your plan. Trading can get very emotional, and the winners do not cave to emotions. If you write down your reason for taking your position and key details you will have a tool to help combat impulse moves. Firstly, writing the plan itself makes you reconsider the important details of the spread and evaluate its worth. More importantly, after you have the position you will have a reference for a stop loss limit and plus side exit strategy. Fully understanding and writing down your plan will greatly improve your results, and create a person history for you to study.

5.Follow the Plan

Seriously, the plan is the most important part. It is your thoughts when your are rational. If you spread bet for some time, you will run into a scary moment. You will be glad you have a plan to guide you. Your plan will have a stop loss point, and you must follow it. It is hard to accept a loss, especially in the heat of battle. It is also important to take your wins. You should follow your exit strategy as you laid it out. If the position is good, you can probably take a similar bet with a new plan.

In Conclusion

As you can tell, I believe in a slow cautious approach to spread betting. You will want to comprehend your entire plan, and write it down before you start. Follow the path you laid out and you and if your data and conclusions are correct you could make a tidy profit.

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