Im new to spread betting...help

[Nicola35blondey]

Hello everyone my names nicola I'm intrested in getting into spread betting, i have opened and funded an account with ig index, but i'm am struggling to get my head around what markets to bet on, my exhusband used to trade currency pairs and that intrests me, does anyone know of any good tipping or advisory websites?
thank
NIcola x

 

[Mr10%]

Few things:

Day trading vs Investing.
You are going to have to find out which one you rather do, end of day trading or intra day trading. I assume you have a current job, so it is more likely that you should opt for end of day trading or investing then if you are consistently getting profits for the next few years, look into going solo...

Don't look for tips or advice. Don't trust anyone on the internet unless you know them in real life, most people giving out information are doing it for self interest > I'm not saying there isn't useful articles out there for trading. I'm just saying that most people post strategies for 1.money 2.ego 3.interest 4.generous nature / in that order. (note i am talking about tipping and advisory).

Lastly, make sure you have a genuine interest in this, you will be spending a lot of time learning to trade. You don't expect to walk into your first day of medical school and perform brain surgery. You shouldn't expect to make 10% a week from trading as soon as you start. It'll probably take 3-5 years to become mildly successful. If you have no interest in this and are just doing it because your ex is doing it (and you want to trade better than him) don't. [ Trust me there are a lot of posts out there that start with emotional dribble ].

I would suggest you look into the first steps forum of this site and read the stickies there. After that, open up some charts and try to start analysing them with information gathered. The more simplistic the charts the better usually.

However, you can trade with no charts at all and work only on fundamentals, this will probably require a good news feed and a good macro-economic insight.

Most new people find their path like this:
penny stocks > blue chips > forex / indices with indicators > fx and indices with less indicators > specialist in 1-4 currency pairs or 2-3 indices / FI.

I hope this helps.

 

[futuresandoptions]

Hi Nicola - I'm in a similar situation - I'm currently following this strategy:
Mr Spread Betting Mr Spread Betting: Maximum Profit, Low Risk Trading: Amazon.co.uk: David Robertson: Books

You can search this forum and others for reviews - I couldn't find anything negative and it's not a huge investment either. (And I'm not on commision for it either!)

Hope this is helpful!

 

[montmorencyt2w]

Nicola,

Please check your PM (private message) inbox if you have not already done so.
It can be found under the "User CP" link, near the top-left of the forum pages.

 

[Bizkine]

Hello everyone my names nicola I'm intrested in getting into spread betting, i have opened and funded an account with ig index, but i'm am struggling to get my head around what markets to bet on, my exhusband used to trade currency pairs and that intrests me, does anyone know of any good tipping or advisory websites?
thank
NIcola x

Any market that you find interesting. I don't think there are any 'special' ones.

 

[Splitlink]

Hello everyone my names nicola I'm intrested in getting into spread betting, i have opened and funded an account with ig index, but i'm am struggling to get my head around what markets to bet on, my exhusband used to trade currency pairs and that intrests me, does anyone know of any good tipping or advisory websites?
thank
NIcola x

Stick to pairs with least spreads, probably GBP/$; GBP/EUR; EUR/$.

You take care, it's a jungle. Keep the trades at minimum. Stay away from paying tipsters, there are advice threads that are just as good (and free) on here. Go to the Forex section.

 

[Renegade Master]

Nicole, use Capital Spread. They have the tightest spread. I say bet on equity then move to FX.