Starting Spread Betting..

[matt85]

Hi guys.

I came across someone recently who opened my eyes to the world of spread betting on the financial markets and am curious enough to consider giving it a go myself.

Basically though i dont really know a great deal about it and how it works. I am currently studying economics at university meaing i have decent knowledge of how markets work and i am also aware of how spread betting works in general, just unaware of how to link the two in order to make money.

So really what i could do with is a total 'idiots guide to financial spread betting'. And i mean REALLY basic if you could. ie what is a broker? etc.

if anyone would care to explain some of the more basic points, techniques, tips and golden rules in order to become successful, i would be extremely grateful.

i am also more than willing to put in the required time and effort if that is what it takes to make it work. I think that when i know enough to start i will have maybe £1k + to start with. is this ample? or can i start with less?

also, i have just ordered ' An Introduction to Financial Spread Betting' by Jon Eagle. can anybody recommend this book? and also is there anything else that you would recommend reading at all? financial times? any other books.


thanks in advance

matt

 

[adrianallen99]

Probably would be good to do a search on here for other posts on Spreadbetting, there have been a few. but here are a few pages anyway.

www.learnspreadbetting.co.uk
www.financial-spread-betting.com
www.onewaybet.com
www.about-spread-betting.co.uk
www.fillyaboots.com
www.bullbearings.com


Also it may be worth you opening a simulation account with capitalspreads. www.capitalspreads.com.

Also finspreads offer spreadbetting tuition when you open an account with them, an allow you to bet at 1p a point.

 

[beartrap]

I am currently studying economics at university meaing i have decent knowledge of how markets work and i am also aware of how spread betting works in general, just unaware of how to link the two in order to make money.

Unless the teaching of undergraduate economics has changed pretty substantially in recent years, I think you'll find you've been exposed to theories of how markets ought to work rather than how they actually work in practice.



If you're planning on trading markets based on your own analysis of fundamental news etc, then you'd better prepare yourself for some unexpected - and probably unwelcome - surprises!

beartrap
(Economics graduate, FWIW)

 

[matt85]

yes, thats certainly a fair point.

i was just trying to put across the point though that i at least have SOME basic knowledge about market theories and practices that occur rather than implying i knew ALL abot markets and how they react, and also instead of saying something along the lines of: 'im studying media studies at uni, whats the stock market? whats a stock? whats a share? how do i make money?'

if you can understand what im trying to say.

 

[chump]

At your stage do nothing ,but read the threads on this and other forums for at least a couple of months. After that you will have a decent idea what to do next. If you haven't then you would be better leaving it alone.

Cheers

 

[matt85]

i agree totally.

i have ordered some books and ill probably set up a demo account at some stage as well if i feel as though it could be something that suits me.

i couldnt jump in feet first if i wanted to to tell you the truth its just not me. and im far too tight as well!!

 

[chump]

"im far too tight as well!!"

Teeside is where all the tight scotsmen originally got lost when they were trying to find London...LOL

 

[nheath100]

Hi,

I have read the Jon Eagle book and I found it useful.
I am a beginner also, and have just started trading on finspreads for a penny a point.
The best thing you can do is keep looking at the posts on this site as there is some very valuable information here.

 

[rossored]

If you havent found it already, try this :

http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=8332

Folks, please let me know if you have useful links, hints, tips etc that I can add into the First Steps thread, as it is meant for just this kind of thing!