Your conscience, London, United Kingdom. Spreadbetter tells it as it is and stops you getting ripped off…
I’ve discovered the world of spread betting about 6 or 7 years ago. Earlier I had been investing in shares. Don’t get me wrong, but shares suck! Seriously, it takes way too long for anything to happen. Sure you might grow your capital by 20% a year and double your money every four years or so, but when you have a starting capital of almost nothing, that million dollar goal seems awfully far away.
And then, buying the physical shares can be expensive business as you have break-even costs. Spread betting is probably a cheaper way to do it even though spreads are slightly larger. It’s the stamp duty that is really the killer with buying physical shares, the costs diminish as size increases.
In any case enter a friend who studies actuaries and this thing called CFD and spreadbets. Interesting at first. It seemed at the time that there might be a way of finally achieving a degree of financial independence. There was no tax to pay on winnings, no commission per trade, and the possibility of leveraging your available money to make a worthwhile return. But I found it addictive soon after. It offers speed, excitement and riches – I was hooked! The thought of doubling my money in a few days just seemed so damn…
At first I opened an account with the largest spread betting provider, IG Index, with the intention of just experimenting. It instantly hit me that the trading platform was far more sophisticated when compared to those available from my retail share brokers, and in my experience, IG Index still sets the standard for other platforms on the market today. With charting software and a wealth of technical analysis tools, (many of which I had scarcely heard of at the time), it dawned on me how much I really did not understand.
I have made money spreadbetting, lost it, made more, lost a bit of it, made even more and lost a bit more. Addictiveness and overtrading are my biggest banana skin and I can get hit by under trading as well. Overall, I’ve made money but perhaps more valuable, my education has improved markedly in the three years I have been trading spread betting. I feel better placed to take what the stock market throws at me. If I had one frustration it is that I can’t be around all the time and the kit I have to deal with isn’t the best but I make do, grit and occasionally gnash my teeth when I’ve missed my exit or entry. Missing an exit is always worse than missing an entry…
I still aspire to doing this full time but in the meantime I’m gradually getting to a trading strategy that suits what I am able to do without worrying too much about what’s happening when I’m away from the screen.
Personally I work for a UK company on the international side which gives me the flexibility to take long spells out to pursue my hobbies: Riding risky shares, frisky girls and fast bikes! lol. Last year I worked 8/10 week spells followed by a month partying in the land of smiles! This year I’ve got my sensible head on, no time off and getting back to the markets after a long spell out…
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Spread-Betting.com is a free resource focused on sharing knowledge and market experience in the most clear and simple way. We are an independent company that rates financial spread betting firms on a number of criteria so that you can make a more informed choice. We are here to provide you with relevant news articles, support, guidance, videos, training, tools and more free of charge – welcome to the community!
Why? Because when it comes right down to it, it’s capitalism on a personal scale. No-one is going to look after your interests better than you are, as long as you take appropriate risks and understand what there is to lose, and gain. Which is why private banks are telling us that self-directed or advisory services are growing faster than discretionary. Why there is a retail rush into gold as a ‘safe’ asset, and why more and more people are realising that at least some part of their personal wealth has to be sectioned off and used as active, directly traded, alpha money. It’s about taking a bit more control.
I’m dedicated to helping new and experienced traders gain an edge by not just teaching about trading but actually how to trade and what actually “works” in trading. Whether you’re a brand new beginner wanting to learn how to plan your first profitable trade, or you’re an experienced derivatives trader seeking a way to reduce your risk exposure on a short position, you will find this site full of helpful stuff. Enjoy 🙂
Please note that the contents of this website are presented for informational and educational purposes only. They should not be viewed as investment advice, nor a solicitation to buy or sell any financial securities.
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Did you lose spreadbetting? Why and what happened? Or have you found it easy and you’re a winner?Tell me be filling in the form below! Also, it’s possible the answer you seek from me is already in the frequently asked questions. And do remember I can’t discuss individual shares with you as it would be classified as investment advice which I’m not authorised to give.