Spreadbetting

[simy]

Hi all,

Just found this wonderful site! Having just opened a spreadbet account with IG I'm now looking to further my knowledge before trading. I've set myself a limit of £500 to start.

Do most of you trade individual shares or indices? In view of the current volitility I'm going to start with indices due to time constraints. When people talk about support & resistance levels is this purely for individual shares or is this also true for an index?

Is there bible to spread betting? I've come across this site http//www.zyworld.com/financialtrader/spread.htm but from experiance anything that looks too good to be true generally is.

Any advice gratefully received.

May you all be wealthy.
Simy

 

[Riz]

Welcome aborad, Simy...

To answer your question for sup/res levels, they work for anything you can see on a chart in the same way, be it stock, index, option, etc...

As for index trading, you dont mention if you have any experience in trading them, if not I suggest you try several indices on paper first, before deciding which is most suitable for you...also keep in mind that sb firms base their index prices on their futures, you may therfore need to keep an eye on index futures as well...

Good Luck

Riz