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Full Description
This title helps you reach the heights of spread betting success! Financial spread betting is growing in popularity. But who wins and who loses at this game? What do the winners do that differs from the losers? That is what this book is about. Malcolm Pryor uses the model of climbing a mountain to explain a disciplined, winning approach to spread betting. First a base camp must be established: which includes getting set up with the right corporate data, charting and accounts software, deciding what to bet on and what your time frame should be, learning the nuances of operating an account, controlling risk, and learning from other people's mistakes. Many spread betters don't even get this far. Next, we start climbing the mountain: this means having strategies that are right for us. The whole of this section is devoted to illustrating strategies which can be used for spread betting, for example trend following, counter trend strategies and delta neutral strategies such as pairs trading. Finally, we make our assault on the summit of the mountain: which is where the winners set themselves apart from the losers.Issues covered here include trade planning, record keeping, performance reviews, more on risk management, psychology and continual development. Spread betting is great fun, and almost anyone can enjoy the odd bet now and again. But if you want to make money from spread betting, then it must be taken seriously and a disciplined and tactical approach is required. This book is the essential guide to get to the top of the mountain.
Contents
Preface Acknowledgements Risk Warning Introduction PART 1 - BASE CAMP Choosing A Spread Betting Firm Origins and growth of the market Selection criteria The 6-Stage Plan for opening an account Directory of spread betting firms Getting Set Up - Computer Hardware and Software Hardware Internet connection General software Backing up Postscript Trading Resources Trading software Price data Information Web sites Postscript What Do Winning Spread Bettors Bet On? Markets The 3 key tests Differences between the spread betting firms Summary Postscript Choosing a Spread Betting Type Types of betting 1. Extremely short timescale 2. Short timescale 3. Medium timescale 4. Long timescale 5. Very long timescale Differences between the spread betting firms Postscript Timescales for Spread Bets Postscript Pricing and Hedging Do they really want you to win? How spread betting firms work out their prices How competitive is the market? Do they hedge? Future developments a wish list Postscript 10 Common and Really Expensive Spread Betting Errors 1. No edge 2. No planning 3. Wrong bet size 4. No risk management 5. Mistiming exits 6. Out of control 7. Not in tune with the markets 8. Running before walking 9. Emotionally unstable 10. Not taking responsibility Postscript Keeping Losses Small - The Stop Loss Stop or no stop? Near or far? Automated or mental? Instant or delayed? Techniques for placing stops One more useful approach - the time stop Two tips Moving stops Postscript Spread Betting Order Types Are some orders better than others? What is on offer in the market? Postscript Practical Issues Order placement Automated stop orders Dispute resolution Funds transfers Keep abreast of your margining position Postscript Congratulations! PART 2 - CLIMBING THE MOUNTAIN Finding A Strategy That Works For You What do you like? Technical analysis is excellent for spread betting The basic choice: trend or countertrend strategies? Or delta neutral strategies Master one strategy first Postscript Spread Betting Strategy I - Betting On A Trend - Trend Identification Basic concept - using spread betting to ride a trend Breakouts or pullbacks? How to identify trends Postscript Spread Betting Strategy I - Betting On A Trend - Selecting A Bet Simplifying trade selection - the weekly shortlist Simplifying trade selection - identifying daily set ups Taking the trade - entry triggers Postscript Spread Betting Strategy I - Betting On A Trend - Bet Size Taking the trade - the right size of spread bet Postscript When To Exit A Bet 1. The bet goes against us 2. The bet goes nowhere 3. The reason for the bet disappears 4. The bet goes our way Postscript The Re-entry Postscript Spread Betting Strategy II - Betting On Reversals 1. Buying support and selling resistance 2. Betting on candle patterns 3. Betting on gaps 4. Betting on divergence Postscript Spread Betting Strategy III - In and Out Within a Day You need the time to do this Finding intraday bets Betting on opening gaps Betting as company results come out Betting on false break outs Betting on blow offs Binary betting Postscript Advanced Strategies The Right Strategy For You Character Account size Beliefs Attitude to risk Postscript Staying In Control - Planning The successful spread bettor's plans A week in the life of a successful spread bettor Postscript Staying In Control - Record Keeping Postscript Staying In Control - Regular Reviews Monthly review Quarterly review Postscript Staying In Control - Risk Management Staying in tune with the markets Monitoring positions Monitoring and controlling stops Margin control Managing total exposure and leverage Net long/short Diversification Standing aside Counterparty risk Exceptional events Contingency planning Postscript Developing a Winning Attitude Profile of the successful spread bettor 10 Rules for Profitable Spread Betting Postscript Continual Development Books Courses Magazines Web sites The final postscript... Appendix Examples of Basic Bets Spread Betting Glossary ADX Support and Resistance Betting via Exchanges How it works Benefits and risks of this type of betting Directory Of Spread Betting Firms
