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Starting out a career in financial spread betting is not for the faint hearted. If you read the warnings you can either ignore them, be put off the whole idea altogether or understand them.
FSB is quite a different means of earning an income and is never taught in school education. Of course an interest in financial activities in the world and nationally is crucial, as does some experience of buying and owning shares. FSB differs in that you are looking to gain from a price change in an asset as appose to a dividend return typically over a longer time frame.
One realisation to understand is that when the price of an asset is rising higher, it is generally taken as a signal to buy into the asset. However in modern day life we are taught to buy cheap, and so this fundamental approach is different to buying into a share price rising higher.
Personally i am a fan of YouTube for learning things, from DIY to sorting computer issues. YouTube videos show you how to do something in a way that is similar to a friend showing you right in front of you.
One such teaching age is to sign-up to a website that provides you the entry and exit points of trades on the Ftse100. But more importantly the reasons why the trades are made at at what price/size is provided. Davis runs the website system ftse100trading.com and provides the information via a Skype conference call everyday. Some trades are done within minutes of opening of the markets, other trades can last into the morning, but either way this is day-trading. You are free to ask questions live as other members do, in a self-help manner, and the "system" David utilises over the last few years is well proven and guarantees a return at least 5 times the monthly membership fee. The fee for this service is £100 per month, but is insignificant in terms of the possible income that can be generated. Click here to signup to ftse100trading.com.
David also posts some Videos on YouTube of his charts, suggesting possible movements in the future, support and resistance levels and Fibonacci retracements. These videos are public and so are some days behind actual events, but interesting anyway, here is the link.
There are thousands of books on the subject, and one title that repeatably gets suggested over and over again, is Jack D. Schwager's "Market Wizards". Other suggested reading can be found here.
One understanding you will confront early as well as throughout your trading career is whether you are a fundamentalist or technical trader and possibly whether you generally bullish or bearish (whether the market will go up or down).
One recommended method for getting started with a FSB account is to start small (less than £1 per point) if your budget is small. One such provider is FS Spreads who offer spreads down to 10p per point, for the first 8 weeks. 10p per point gives you an exposure of about £600. Of course you should get a Demo account to start with to allow you to become familar with a trading platform. I would recommend Capitals Spreads Demo trading platform, which is on-going and does not expire overtime like some others do.
Most of the top FSB companies offer iPhone apps or other smartphone apps to enable you to trade on the go.
In the words of David: "Learn to trade the FTSE 100 successfully. 1st in the world to offer my trades solely on the FTSE100 and still going strong along with the trading profits. If you want to know how I arrive at my entries and exits simply come visit my site."
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