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Dummies guide to Financial Spread Betting

  • 03-06-2010 12:44pm
    #1
    Big Mouth
    Closed Accounts Posts: 234 ✭✭


    I seen the other thread earlier and it got me thinking about Financial spread betting again.....I opened an account with Deltaindex about two years ago and tried to understand the fin markets but really didnt get it.

    I would buy oil and all I knew was when it went up it was good and when it went down I was losing, I didn't know who or what was changing the price and why.

    So....how about people add some tips here i.e explain the market demand as above, the volatility of certain markets, what to specifiy in forex / commodities etc, things to look out for, strategies to play.


Comments

  • #2
    puppetmaster
    Registered Users, Registered Users 2 Posts: 433 ✭✭puppetmaster


    Hey BM, Ive been using both Paddypower trader and capitalspreads.com's platforms in the past few months, Their demo accounts only, i wanted to spend some time trying to understand the movements of the markets. I am about to open a "real money" account as ive been quiet sucessfull on conservative bets on the Demo accounts.

    As many, i have a healthy fear of the too Good to be true scenario. Imho i think if you jump into spread betting/ trading after seeing the green arrows pointing up on the 6 one news, ya might as well go into a bookies and fire a dart at the wall.

    On the other hand, if you have the time (depending how much u wana invest/make) there are huge mines of information to help you in your quest. Im sure many people here will have some great bites of info n tips. (others will accuse you of being a wreckless gambler) but isnt everthing a gamble.

    Sites like paddypower (great for beginners) and Capitalspreads have great resources and info, in captial spreads case they have whole day training courses and online seminars for prospective traders. Im sure there are also many other sites with this info. But possibly have a look there instead of waiting for a generous soul to type a beginners guide. Maybe when you look at these sites you can post some questions that people might be able to help with.

    My own advice would be practice practice practice. Make your big mistakes in the demo accounts before you fork out your own hard earned cash ;)


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