Subscribe
Our FX reports
 |
| Adam Solomon's insight into business and corporate FX issues. |
 |
| Your Questions on foreign exchange sent direct to the professionals. |
 |
| The Economy News brings you the latest foreign exchange rate news. |
| The most popular posts
|
Economy News
- Exchange rates: Service data pressures the British Pound
- Buy the Nasdaq Composite and Apple Inc say Delta
- Yell Group holds onto rumour mill gains
- Exchange rates: British Pound awaits US data
- Barclays gears up for improved US economic data
- Yen is criminally expensive
- Exchange rates: British Pound lifted from lows by MPC
- BHP Billiton, Rio Tinto: Australian mining tax back in focus
FX Latest
The Virgin Spreader chronicles my journey into the world of spread betting.
This spreadbetting blog starts from day one of a novice spreadbetting career. I intend to hunt down as much advice on spread betting as possible, talk to as many professional spread betters as possible and develop a winning spread betting strategy. And I will write it all down here. If you have anything you would like to contribute PLEASE get in touch!INSIGHT
Insurers challenged by increased wild fire risks
With Russian wildfires grabbing the headlines, the Lloyds of London insurance market warns that...Read more...
With Russian wildfires grabbing the headlines, the Lloyds of London insurance market warns that...Read more...
Swiss bankers dismisses earning season hype
The Economy News presents an excerpt of an article looking into the hype that is the earning season...Read more...
The Economy News presents an excerpt of an article looking into the hype that is the earning season...Read more...
Defending Woodford's Zimbabwean investment
It is lazy journalism to describe the Zimbabwean economy of 2010 as being one that is in scandalous...Read more...
It is lazy journalism to describe the Zimbabwean economy of 2010 as being one that is in scandalous...Read more...
Forex markets await the stress test
Mark Deans at MoneyCorp gives his morning verdict on the forex markets.Read more...
Mark Deans at MoneyCorp gives his morning verdict on the forex markets.Read more...
Standard Chartered warn of increased likelihood of double dip recession
Standard Chartered researchers say premature fiscal tightening could cause double dip recession....Read more...
Standard Chartered researchers say premature fiscal tightening could cause double dip recession....Read more...
Home 
The Virgin Spreader The Virgin Spreader Biggest spread betting mistake to date
The Virgin Spreader The Virgin Spreader Biggest spread betting mistake to date
| Biggest spread betting mistake to date |
 |
 |
 |
| Written by Virgin Spreader |
| Friday, 23 October 2009 12:29 |
|
Going into a position without a plan has seen my account at record new lows. I know how spread betting companies make their money now - off people like me. My account is in a dire position this morning after some really poor bets on the FTSE 100 yesterday. The index closed the day off in the red, it was one of those days where the downside momentum was always greater and my bet that the index would break upwards did not materialise. Looking back it is clear that I was not using any judgement or spread betting strategy. It was a reckless move to jump straight into a 'buy' when I saw the market had entered some kind of consolidation. When that trade went bad I would close out, only to jump in at another inopportune moment and get burnt further. My first week in spreadbetting was not a success. Now that I have decided to read up on spreadbetting best practice in order to seek as much advice as possible I can tick off all the classic errors. I really do need a plan now, it is clear that going with ones gut is not going to cut it, especially now that the market appears to be consolidating. The mistakes have promted me to sit and watch the index today in order to try and learn the patterns the market takes. More reading is also in order. 
|
