Spread bet is actually predicting a bet. We, the company makes predictions about the outcome of the event. You, customer, decide whether actual output will be higher or lower than our forecast. If you are right then you work, if you are wrong you will lose.
1. Research and Preparation
2. Keep a realistic scenario when paper trading. There is no purpose in trading 20-30 markets at a time / with 20-30 open positions. You will not have time to investigate and do business with this in real life. Keep 0 – 10 open positions.
3. If you continue to lose a lot, check where you are going wrong. Keep paper trading until research and policies are good and until you trade without becoming a major arbitrary card.
4. Karate Kid or Star Wars? It does not matter who you want but both share the lesson and learn that knowledge. If you have blue blue Alec Guinness you are not next to you and that Mr. Miyagi does not live across the road, much of your training is available. It's great to have trainers, business collections, chat rooms and friends? & # 39; but your very business is down for you.
Many research, testing, research, testing and more research and testing, I think you have the idea. This will help you stop trading on hunches. It will reduce your losses and hopefully increase your profits. Similarly, do not keep everything in the spreadsheet of the transaction, even though you can not interfere. Your tablet icon will help you identify what you're doing well and what you're doing badly.
5. Winning and lost business. If business goes against you, check it down and why. If business goes with you check it down and why. Do this, even though the market went up / down because you knew it initially.
6. Have a plan
7. Be -Man (or Woman) -The program. There are a number of tactics and steps that you can take to be successful in business but everyone has well thought out and consistent plans. Nothing was perfect for the first time. You need to improve your schedule along the way. Business – Planning = Gambling.
8. Change your plans. You should only allow minor changes to the business plan. Major changes must have a very good reason.
9. Have a medium-term plan, for example, a 2 or 3 year plan, and say what kind of profit you're looking for, for example 10% return after Y2. This will help you diagnose how you come. If your goal is realistic, it can help to reduce your greed in individual business.
Below are the main tools for trading:
10. Good quality, reliable PC with fast and reliable internet connection and printer.
11. Access to fast live market information.
12. The phone to call the merchants.
13. Print a copy of your comments and open a status if your computer crashes. I usually print from my business magazine after each new store. Obviously you should support the data as well.
14. The capital you are willing to miss.