Financial Betting Tips

Profits can be made from Financial Betting no matter what direction the underlying market moves, up or down, by “going long” when it is rising or “going short” when it is declining. The bettor’s object, of course, is to make the right trading call, so here are some tips on how to go about doing just that.

Select a Reputable Service – Many gaming web sites now offer Financials as a category of wagering, including bet365, Ladbrokes and William Hill, to name a few. But not all are as sophisticated and trustworthy as such leaders. Make sure you choose one you can trust. Also, there are sites that specialise only in “day trading,” such as IG Index and Capital Spreads. They offer many more market opportunities than the high street bookmakers and may be the preferred option when you are ready to diversify your bets.

Test the Waters – Many of the leading online bookmakers offer “play for free” options. It is possible to practice Financial Betting with non-redeemable credits, as opposed to real cash. Use this facility until you are comfortable with the software and nuances of financial wagering. Alternatively, you can “paper trade,” pretending to wager fictional funds and keeping a close watch on what your results would have been if actual funds were involved. Switch over from simulation to real money only when you are confident of your skills.

Establish a Bankroll – Just as with any other form of wagering, from horse racing to poker or bingo, it is highly recommended to provide a “bankroll” or “betting bank”—separate from household finances and savings—specifically for the purpose of Financial Betting. The size of the bankroll should never be more than you can comfortably afford to lose.

Set Some Objectives – If you have a serious mind to profiting from Financial Betting, you must set some objectives or else you will have no way to measure progress. Your goals should be reasonable, quantifiable and assigned specific deadlines. Examples of such goals might be to “double the bankroll within six months” or “gain £100 this week.” Objectives like these allow success to be measured and tracked. They can also be used to know how much to wager and when to stop.

Stick to Fixed Odds Initially – Spread betting is leveraged. That means losses can exceed your initial deposit. There are tools, such as stop-losses, to help manage risk, but if you are new to Financial Betting, it is best to start in the “shallow end of the pool” by making only wagers that carry specified odds.

Maintain Good Records – It is impossible to determine what works well and what does not unless accurate records are kept of each and every wager. Record-keeping should at the very least include the date of the bet, description of the trade, odds offered, how much was bet and the end result. Add any notes that might help identify opportunities or risks in the future. Then, be sure to study the information that’s been recorded until its value is fully understood.

Manage Two Trading Accounts – Just as soon as you are comfortable with the particulars of Financial Betting, it is a good idea to begin trading from two accounts, one for medium- to long-term speculation and one for short-term wagering. This approach offers several advantages, from guarding against taking profits too soon to providing the ability to “hedge” one account against the other to guard against losses.

Make Course Corrections – Studying your successes and failures will allow you to identify patterns and make any necessary changes in your Financial Betting strategies. The most successful bettors learn from their mistakes and build on their triumphs. Don’t allow emotions to come into play, and don’t get greedy. Maintain discipline and bet smart. Use logic to identify any bad habits you might have and correct them before they turn into real problems.

Published on: 14/09/2012

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