Just back from my run and it was lovely and sunny out – I’ve a good feeling about this month already!
As mentioned last time, I’ve decided to up my bank to about five and a half large later this month so I’m holding off on the sports trading until I get some money that I’m owed midway through this month.
However, I’ve been looking more at the non-sports trading and want to dip the toe in a bit more following a very enjoyable seminar on Saturday, run by marketspreads.
I’ve two trading accounts at the moment but I’m liking marketspreads’ package the best so may move the rest of my money there as I’ve only a couple of hundred in that account at the moment.
The seminar covered trading basics, there was a talk from Charlie Fell of the Irish Times (very interesting) and there was also other stuff like Technical Analysis. The TA was excellent and I learned quite a bit.
The great (and potentially catastrophic!) thing about non-sports trading is that you get leverage. On Betfair, for example, you can’t place a bet or trade unless you can cover the bet with the money in your account. But when you are trading with a broker or spread company, you get leverage that allows you to go into the red. On Gold for example, market spreads offer 200:1 That means you can do some decent trades with only a small bit of money in your account – the downside is that you can rack up serious losses and then owe them money.
I’m playing a cautious game while I learn the ropes, but it’s a great mental game and keeps the brain active.
I still find the sports trading a lot easier though and that’s where I’ll be putting the money later this month.
Anyway, Happy Spring everyone, I’m glad to see the back of a dull and dark January. I lost quite a bit on the horses and really felt the pinch in the wallet but I’ve a good feeling about the month ahead. After that, we hit March and it’s Cheltenham territory (already!).