Spread Betting on the Financial Market

Bromarc

Hello,

I want to start trading in the financial market to see if I can make some extra money, I have read a little bit about spread betting but there does not seem to be any books geared towards beginners.

Can anyone lend me some advice, for example:

- How much do you need to start?
- Does anyone recommend any good books for novices?
- Which broker website is the best?

I really look forward to your tips and advice.

Many Thanks
Bromarc

Nico151

Have a look on the Gambling Introductory Offers Forum, there is information about spreadbetting in there, particularly about making the most from sign-up bonuses.

Sarahhhh_2

Yea there is a lot on information on this forum. I've been reading up on it and have made £90 from matched betting. I think the best thing is to be prepared and read up on everything before rushing into it. Any questions send me a message.

lily_the_pink

Bromarc wrote: »

Hello,

I want to start trading in the financial market to see if I can make some extra money, I have read a little bit about spread betting but there does not seem to be any books geared towards beginners.

Can anyone lend me some advice, for example:

- How much do you need to start?
- Does anyone recommend any good books for novices?
- Which broker website is the best?

I really look forward to your tips and advice.

Many Thanks
Bromarc

I am not sure what the statistics are but most people who "play the stockmarket" lose money - or at the very least dont make more than inflation/a decent tracker.

Have a look at the Motely Fool site (but have a good read first before posting otherwise although people can be helpful you might well get shot down in flames) -to be honest though this site is more geared up towards investing rather than spread betting. iii has market based forums as has ADVFN - but beware of these sites as there can be a lot of ramping and deramping going on (even if the people doing it are not doing it with bad intentions). Technical Analysis is king for most day traders - there are loads of basic resources on the web.

ses6jwg

I started spread betting a while ago.

With IG Index, they let you do 10p a point the first week, then 20p, then minimum 50p.

Some observations:

1) Use stop losses but don't put them too close or they get taken out very easily especially on volatile stocks

2) Dont spread bet indices - a sure fire way to bankruptcy I tried it once and watched my money tick away, 50p, £1, £2, £5, £10. DONT DO IT as tempting as it is!

3) Dont have too many positions open at once

I'd say the best way to success is to bet on boring companies that arent too volatile

But I have lost the attraction as its just too risky

Encantador

Bromarc wrote: »

Hello,

I want to start trading in the financial market to see if I can make some extra money, I have read a little bit about spread betting but there does not seem to be any books geared towards beginners.

Can anyone lend me some advice, for example:

- How much do you need to start?
- Does anyone recommend any good books for novices?
- Which broker website is the best?

I really look forward to your tips and advice.

Many Thanks
Bromarc

IGIndex is as good as any.

You need a good system, or you need to spend many many hours/days/months/years watching screens and learning to trade.

Only use money you can afford to lose.