Buying financial spread trading package - home-based business packages

cazmanian_minx

geek84 wrote: »

Thanks

Does the book have enough info for a beginner to start trading

Yes.

and make a decent return?

Nothing is guaranteed in spread betting and anyone who claims to have a foolproof system is being economical with the truth. I spent about a year spread-betting occasionally after reading Robbie's book (I won a fantasy share trading competition and the prize was an underwritten spread bet on my winning share pick - I wouldn't have opened an account otherwise), only £1 a point, and came out £84 up over about 15 trades. I decided that was a good point to call it quits until I'm out of debt and can afford to lose anything I put in that account.

If you have anything close to an addictive personality, don't touch it with a bargepole. I'm a pretty level-headed person, but the rush of adrenaline I felt when I put my first £1 bet on the FTSE100 and saw the profit start to tick up was like nothing I've ever experienced.

geek84

Hi Folks

Thanks for all your thoughts.

I came across this blog -
http://www.racheluncoversspreadtrading.co.uk/about/

Has anybody read this before?

What so you think?

sillysid

I didn't do spreadbetting - but I tried trading the forex market for years - the spread betting companies have a minimum bet of £1, depending on the leverage you use, you can lose quite a lot, especially if you haven't a clue.

You can trade for free on demo accounts to learn how to operate platform, place trades, close trades and practice. You can also learn for free too - there is a huge amount of info out there, too much actually, makes it difficult to filter wheat from chaff. It is simple, but hideously hard to be successful.
You need a solid reason for entering and exiting market, statistically tested by you using historical and forward testing. You need to follow a plan, you have to know at times your plan will not work - usually discovered after you have undergone a series of losses! The markets change and are ruthless.

key personal characteristics needed - discipline, money management, emotional strength.

Greed and fear are the enemy. It is hard to lose money, but it is a fact of this business. Success is always just a breath away.
Income is not reliable. You have to learn to lose a little, and let winners run- easier said than done, and something I never managed to master...I gave up and got a job!

Many people sell their knowledge (courses) And their are numerous sharks waiting to do so...But others sell because trading is not like working 9-5 and getting paid accordingly, No capital = no trading. Lose your capital, no wages. Have a bad week/day/month and you can't withdraw any money.

So many teach and sell their knowledge as that provides a regular income.

Before I embarked on any paid course, I'd recommend learning about it youself first of all. There are 100's of sites with a mind boggling amount of info. 'babypips' is a beginners site, and they do a school, free, and that gives you an idea of terminology. There are also review sites of education, brokers, etc.

wish you luck