Am I ready to spread bet with real money?

Perhaps you have run a demo account for a while, read all the references and help guides on the internet and feel you are ready to face spread betting in real life with your own money. But how do you know if you are ready to spread bet with real money?

Feeling slightly nervous about placing your first trade is natural; however, if you are losing sleep over it, then this means your feelings are getting in the way and you cannot afford to lose the money you are using.

If that sounds like you, then it might be an idea to begin trading with a smaller amount. At the point where you feel more relaxed trading that money then that’s the amount you should use to start your spread trading pot with.

It might also mean you don’t feel confident in your knowledge of the market. It is easier to trade for a few months, losing the odd £10 here and there, and making the odd profitable trade whilst you feel more comfortable. As your pot builds, you can gradually increase the size of your trade.

One point to note is that you are likely to lose a little money early on and in a way, this is a good thing. When you lose, you can learn from your mistakes but if you win early on, your confidence could build too early and you could become overconfident too soon. Start small and treat spread betting like a new trade you must learn.