No worries. The link has been pulled. Here is the "free" article in full;
10 SECRETS THEY DON'T WANT YOU TO
KNOW ABOUT SPREAD BETTING
1.
Be sure of the reason/s why you are making the decision to invest in the financial market.
Its very important to write a list of reasons for getting into the financial business of buying and selling assets, then categorise them in two ways; urgency (1 – 5) and importance (1 – 5) 1 being least and 5 being most. Then set these targets in line with your trading plan. This will keep you focused.
2.
Understand that there are different types of people who participate in the financial markets.
The market as a whole is mostly psychological, however there are three main types of roles you can play as a buyer and seller of assets; an investor who looks more at long term investments typically 6 months and beyond, a trader who looks at getting in and out of trades quickly typically several times a day. Each have advantages and disadvantages however if you intend to be a trader you are more likely to fit the Options market or gamblers Spread-Betting market.
3.
Be aware of the gamblers fallacy.
The gamblers fallacy is a very interesting concept especially if you intend to trade on a Spread-Betting platform. The story of this fallacy is that the individual believes that the chance of the price turning around gets greater as time moves on. This is not true and this is one of the main ways these gambling houses make their money, the truth is you always have a 50/50 chance at any point in time of the price going up as well as down. You need to understand this concept and it is one of the most valuable points of this paper. Cut this point out and stick it on your computer monitor.
4.
Test as many platforms as possible.
It’s important to trade using a platform that suits your temperament. The interface such as the colours and font type could greatly affect your chances of success. Other things to watch out for example: how quickly does the platform execute your trade and how easy is it to execute, can you close all your positions at once are the spreads reasonable, are your brokers respectable and fair. Don’t get hoodwinked.
5.
Specialise in one particular asset class.
Be sure to specialise in one asset class be it commodities, currencies etc. This will give you a greater chance of success; make sure you observe the differences in volatility as this will greatly decide how much profit or loss you incur over time.
6.
Know when to trade.
There are three main trading centres North America, Europe and Asia where each area overlaps in opening and closing hours, so be sure to know their open hours and changes in any daylight saving. Good times to trade are the last 30 minutes of each opening and closing. But be careful; refer to your technical analysis as well as fundamentals only for guidance before making a trade.
7.
Do not over invest.
Trading is done at your own risk, all rewards and losses are down to your own judgement,
Making Life Entertainment or our consultants hold no responsibility on your trading actions.
10 SECRETS THEY DON'T WANT YOU TO
KNOW ABOUT SPREAD BETTING
Trading is done at your own risk, all rewards and losses are down to your own judgement,
Making Life Entertainment or our consultants hold no responsibility on your trading actions.
Only invest what you can afford to lose, make sure you don’t invest any more than 10% of your account balance at any one time. If and when you double your money do not double your stakes, you will lose it. Double your initial stake when you made something like 400% on your initial balance, that way even in the worst of swings you are able to continue to trade many times over.
8.
Always take profits out off your account.
Start with one or two positions at anyone time, close it once you’re in more profit than the initial commission/spread value taken by the broker and then transfer your profits out to you personal bank account, leaving your initial balance.
9.
Know when to quit.
Remember Point 3 the gamblers fallacy, if you begin to feel uncomfortable about your position close it, in fact close it within 15 minutes regardless of profit, loss or personal gut feel. Remember the market will not wait for you neither will it come back for you. If you start with £200 and end up investing a further £800 which becomes to total of £1000, I would advise you to stop trading and learn more about the business or platform without investing real money.
10.
Staying in touch
Like everything in life, love what you do. Same applies with trading, sleep, breath and eat financial if it’s what you really want to do. However like everything else in life there is a cost that goes with it, make sure you get lots of sleep so you are focused when trading, eat well and listen to as much financial news as possible.
Paper written by: Andrew - Trader and Statistician
I know this paper will be worth more than the price you paid for it.
Play hard, work harder and donate what you can afford for the better good of keeping you well informed, for now and the future.