Spreadbetting beginner seeks guidance...

[LeroyBrown]

I've recently been having a looking into the world of financial spread betting and thought I would give it a crack. I am under no illusions of becoming rich and accept that I will probably lose more money than I make but it seems like something I can occupy my time with at the moment, and time is something I have a lot of! (Just graduated and then had my pelvis and hip corrected so i'm housebound for a good period of time till the bones nit back together).

I'm aware playing with your money like this isn't something you can master in a day so i'm taking a very cautious approach and have been trying to read as much information as possible, i'm not expecting to become rich I don't want to lose my money at the first hurdle so all advice is welcome, good or bad!

I have been looking at Finspreads and they seem quite competent with what they do. I've read a lot about their 1p for 8weeks thing but cannot find any mention of this on their site, does anyone know if this still holds? Although http://www.easy2spreadbet.com/ seem to offer this offer and seem to be a division of Finspreads, are there any differences between signing up with these 2 companies?

I've read some Financial Spread Betting eBooks I managed to get my hands on and the majority of them talk about Real Time Data Feeds, I'm just wondering if this is a necessity for spread betting and if I was to make a good profit on my investment would it be worth the outlay for this RT data? If so which would be a good, fairly straight forward program to use to view this data?

How long should i be spread betting for hours or days?

It would be good to get some feedback from people with some suggestions and advice!

Thanks in advance

Lee

 

[Trader333]

Lee,

If you are trading over a few hours then getting a realtime datafeed is essential in my view. If you are trading over a few days or longer then it is not as important. I dont spreadbet but from what others have said I think Finspread still offer the 1p per point bets but only if you trade via the internet and only for the first few weeks.

I hope this is of use and that your injuries heal quickly.


Paul

 

[tomorton]

Hi Leroy

I trade with fins and agree with Trader333. Of course, once you have a SB account, you get real-time prices anyway, though these are real-time quotes in truth, not the underlying prices themselves.

You can paper trader with Tradindex. I have just signed up for that (free) so cannot say how well it works, but its better to lose paper money than real during a learning curve.

Good luck

 

[LeroyBrown]

I'll have a look into Tradindex before I start anything, see if i can get anything down on paper before I try the real thing, should give me a good insight in what to look for.

With regards to RealTime data, im thinking that if i had a package (such as eSignal, only one i've really looked at at the moment) then this real time data would give me a lot more information about what I was spread betting on than just a realtime priice at Finspread if you see where i'm coming from?

 

[andrewmooton]

Leyroy,

If you are planning to SB intraday then imo you will need real time but if you are going to do it interday then you wont need it.
Most people say that you cant profit from SB intra day anyway because you wil get hammered with the spreads.

HTH

 

[JonnyT]

Why do you need realtime with an SB account?

They provide charts of their data which is different to the real market!

JonnyT