First Steps in Spreadbet

[rajstar]

I am now ready to take a plunge into SB and would like some one on this BB to share their knowledge. Funds available £1k.

a. Which trading platform is the best??
worldpsreads is currently offering a spread of 1point.

b. do I need sharescope or equivalent to pick winning trades based on filter criteria or do i have to join one of the tipsters i.e Alpesh Patel, johnpipers or tipstracker.

c. also checked www.insight.net which gives tips for mini contracts at $199.00 a year. Ig index allows £5.00 a point for mini contracts.

So lots of options, too confusing and i need just to start and make a few quid while still keeping my day job.

Advise welcome.

Rgds
Rajstar

 

[tomhunter]

I am now ready to take a plunge into SB and would like some one on this BB to share their knowledge. Funds available £1k.

a. Which trading platform is the best??
worldpsreads is currently offering a spread of 1point.

b. do I need sharescope or equivalent to pick winning trades based on filter criteria or do i have to join one of the tipsters i.e Alpesh Patel, johnpipers or tipstracker.

c. also checked www.insight.net which gives tips for mini contracts at $199.00 a year. Ig index allows £5.00 a point for mini contracts.

So lots of options, too confusing and i need just to start and make a few quid while still keeping my day job.

Advise welcome.

Rgds
Rajstar

Im not sure about spreadbetting, but people normally advise not to follow tips and to always do you own research.

Thanks

 

[options]

Yep. That was the tip I was going to give as well.

It would appear rajstar that you are not ready to yet to take the plunge.

Join one of the tipsters indeed. Do that and the bank roll will not last long.

Open up a demo account with whoever you see fit and trade away to your hearts content.

 

[hellokimchi]

And aside from doing your own research as PPs have said, you can't afford tips. $200 per year from a GBP1000 account results in a 10% annual drop in capital from the tip expenses alone. You'll never recover from this huge expense.

Tips, if you can afford them, are only useful to asses within your own system - or to monitor. A raw tip is not often of much use.

 

[Hoggums]

i need just to start and make a few quid while still keeping my day job.

The above statement sounds like a recipe for disaster. Go with the advise above - open up a demo account and trade it to your hearts content. You seem to have no plan or strategy in mind - develop one using the demo account. When you have 3 consistent months of profit - then maybe you're ready for risking your own. Start with your own money now and you'll probably lose the lot.

 

[Jack o'Clubs]

May I suggest membership of the following: http://www.thesportsmancasino.com/casino.html

Financially you'll end up in the same place, but you'll have much more fun getting there.

On the other hand, if you want to take it seriously, there is plenty of advice on strategies etc on here for free and loads of references for further reading if you look for them. And a demo account as suggested above. If you're in too much of a hurry for that, then I recommend the link...

 

[Peter lisbon]

My experience with FinSpreads.com is positive. I'm with them since 2006.
I started my spreads with 1p during 8 weeks and after that the minimum is 50p.
The plantform is Java based and so far I don't need an extra software like sharescope. All I have to do is the "homework" - Search and research.
Regarding mini contracts, they are at £3 at the moment.