been trading a while but would like to try spread betting type trading, help

happyhero

Junior member
45 0
I have been buying and selling shares and funds within mainly Hargreaves Lansdown and Barclays and I do ok with that as an amateur invextor but I would like to try Spread betting to see how I do with it.

I went to PLUS500 and opened a demo account. Its a bit weird as I don't really have much of a method other than buying or selling in the general direction of the current movement, yet all my trades are making money. I'm setting a profit of between £50 and £100 on the platform for it to take me out. This is making it seem like I'll always make profit which I highly doubt but I thought it was supposed to be the same as the live platform so what's going on?

After trying different demo accounts in the past a while back I wanted to try and treat this one as realistically as if it were real cash and what I would actually do but I don't feel confident I have a real method or system. Can anybody tell me some basic things that work mostly to try to make a little profit or guide me to a useful link please. I don't want tons and tons of in depth reading? I'm looking for some simple stuff that may work if that's possible.

By the way, are all the platforms like PLUS500 considered to be spread betting?

Reading some forums it seems that PLUS500 is not to be trusted, is this true?

Who is to be trusted and which one is a good platform for beginners with a demo account to practice?

Any help or guidance greatly appreciated.
 

tomorton

Legendary member
8,199 1,253
Demo with a SB provider you might like to trade with, so that's one that's UK-based and FCA-regulated.

I have accounts with LCG and IG. Both are fine to deal with, both offer live and demo accounts. The LCG minimum position sizes are often a tenth of IG's, which can be useful when you first start trading with real money or if you just want to test some idea.
 
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happyhero

Junior member
45 0
Thanks tomorton, any simple profit trading strategies you can offer me link to, I need basic and simple to start but was hoping for something I can maybe make small profits on, in the DEMO account of course to test.

Also do you know anything about the negative comments about PLUS500, is it not a trustworthy company as my DEMO is on there currently?

I will have a look at what you suggested, thanks for that.
 

tomorton

Legendary member
8,199 1,253
There are many strategies to trade with but they are mostly in two camps - either join a trend that is already running (trend-following) or join a trend which is just starting (reversal trading).

Trend-following tends to generate high probability low return trades, reversal or break-out trades tend to be low probability but can offer dramatic returns. Once you're in a trend, you have opportunities to exit and re-enter repeatedly or to build and enlarge your position as the trend continues. Huge generalisations but worth keeping in sight. For a first strategy, select one that is simple and objective.

I've had no dealings with PLUS500. The UK branch is FCA-regulated so that's reassuring but I wouldn't be sending any money to Cyprus, its an unlawful state with a weak regulator and high level of corruption. Its not reassuring that PLUS500 have decided they wanted a subsidiary there.
 
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