Financial Spread Betting – Should You Do It?
I am going to write about all the reasons why you shouldn’t do financial spread betting. Yes my aim is to try and dissuade you from ever considering it again. This will be unlike articles you have read before.
Why am I wasting my time writing trying to persuade you not to take up financial spread betting? Well all I read is how good it is. I want you to get a really balanced picture, not just ‘investments can go down as well as up’ line you read at the end of other articles. If you still want to do it at the end of this then great.
- Image by Getty Images via @daylife
OK so let’s start with the bad points…the first is that you are likely to be rubbish at it when you begin. You are very unlikely to be profitable in your first year. Can you handle that? Will you be able to take losing and take responsibility for it and not blame the market? Other traders will make money when you lose so it isn’t the market that is to blame.
Congratulations, the first year of financial spread betting is over and you are still in the game. You should be proud of yourself as few traders make it. Before you start celebrating note that it doesn’t get much easier from here. Only a small percentage of traders make the real money (and the brokers of course).
Do you have a personal life? If you want to keep it then you should stay away from financial spread betting. The markets are open 24 hours a day and the successful traders are their watching. They do it for the love of it. Do you have the passion to put the hours in?
If you are still reading this then you are obviously serious about it. That is good because you need to be committed to your next task. There are so many financial spread betting companies out there, now you have to select one!
If this article hasn’t put you off too much and you still feel that financial spread betting is good way to trade then make sure you check out Nigel’s website. His blog will help you get started and provide you with the information that you need to advance. It will support you in searching the financial spread betting companies in the market.
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