Today I placed one new spread bet. I went short on Barclays at 287.7. This is a sell according to Vince Stanziones trading system so when I get the Buy/Exit signal I will change my position form short to long. I’m hoping that this system will pay off over the long term as the big wins should out weight the small losses. The biggest thing is to stick with it.
In fact I think that is the biggest issue that faces a spread bettor or trader. It’s very easy to try a new strategy or system and dismiss it after a few trades as it’s not giving the results that you expect. You then move on to look for the next spread betting system that hopefully will work for you. This process is then repeated until your funds are gone and you’ve moved on and given up spread betting for ever. If its sounds like you then stop it. Stop it right now. If you have a trading system, strategy or edge(call it what you will) and it has proved to give good returns then you need to stick with it through thick and think. Chopping and changing is a sure way to the poor house, believe me I know. I almost ended up broke and out of the game around this time last year. I had a word with myself and now I seem to have stabilised. I’ve yet to recoup all the losses I’ve made along the way but I’ve chalked them up to the cost of my tuition. Hopefully I’m at the start of the path to winning ways. Only time will answer that question.
Anyway I don’t have a lot of time today as I have to pick the misses up from Heathrow soon. She’s been in Germany visiting her parents. I think the weather has been much the same as we’ve seen here so I’m sure she must have a bit of a sun tan
Until next time,
“May the markets be with you!”
The Spread Betting Beginner