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Business FX Blog

Adam Solomon is a specialist in business foreign exchange issues at foreign exchange brokers TORfx.

The idea of this column is to assist businesses in saving money on making or receiving payments in foreign currency. It is developed with all companies in mind from public companies with large and complex operations, to smaller companies and individuals.

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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!

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Home The Virgin Spreader The Virgin Spreader Spread betting car crash

£200 Trading Bonus

Spread betting car crash PDF Print E-mail
Written by Virgin Spreader   
Thursday, 12 November 2009 16:15
How to avoid cleaning out your spread betting account....

>> Download the free guide
designed to help you avoid
all the classic Spread betting
mistakes <<

 

As mentioned previously this blog has been followed by a couple of people at GFT - GFT work with the Economy News and hence the relationship.

Having witnessed my plight they have supplied me with a couple of guides that were designed for the novice spread better and trader.  

Having read some of the pamphlets I now realise that when I first started trading I was making some classic spread betting mistakes.

So many classic mistakes in fact that I cleaned my account out of all its credit.

Ironically the first guide is entitled 10 Tips to Help You Avoid Your Own Trading Tragedy.

The first piece of advice to the new spread trader, in line with the car crash theme, is that he or she should learn the rules of the road. And I agree - it's hard to overstate the importance of educating yourself about the markets. Take the time to study the markets and learn the intricacies of trading before risking real capital.

Obviously starting with a practice account is a good point, but it must be stressed this is very different to the real thing.

The emotional element that your own capital presents is a significant factor in the process.

I would suggest starting out with say £100 - and be prepared to lose that money.

Consider that £100 as being money you have spent on educating yourself on spread betting and trading the markets.

I have dealt with only the first piece of advice in the booklet, there are ten other points that will be dwelt on at another time.

If you want to move ahead - just download the guide, it's free.
Last Updated ( Wednesday, 18 November 2009 12:53 )