If You Use A System, Stick To It!

I am actually a big believer in using a system for financial spread betting, it is obviously a big help if the system that you are using is one that shows a profit but I have seen so many spread bettors chop and change from system to system which results from them not seeing any benefits whatsoever.

From my experience and the many emails that I receive it would seem that the following scenario is what usually happens. Someone becomes interested in financial spread betting and due to the wonders of the internet, they start to carry out a few searches to see what they can find about the subject. They usually find a forum or a sales page for a particular system and start to get excited. Promises of untold riches for not much work is usually the norm and if someone is unlucky to find that their initial search finds a well crafted sales page which advertises the latest spreadbetting ‘loophole’ there will also no doubt be mention of making money from spread betting whilst sipping a cocktail by a pool somewhere warm and sunny.

It can take a lot of resolve for anyone who needs to make some money for whatever reason to be able to keep their credit card in their pocket so a purchase of the system or trading course is made. I am aware that it may look like I am tarring all system and course providers with the same brush but that is not intentional, there are some good examples out there but on the other hand, there are some that at best can be described as misleading.

Anyway, in the example I am talking about, someone purchases a system and they are blinded by the promises that have been made, at the back of their mind they are secretly panning to leave work, book a holiday, buy a new car etc but start spread betting with stakes that are to high and a bank that is not adequate.

The first few trades don’t go as expected, interest is lost and after a period of time this person starts to dip their toe in the water again, not by trading the same system with smaller stakes but by looking at what other systems and trading courses are out there. Looking at what other systems can offer gives a warm fuzzy feeling but the same scenario is repeated again and before this person knows it they are on a never ending circle of buying systems, losing interest and doing exactly the same thing again and again.

Never mind losing money on betting, these systems often don’t come cheap and after a while, this person who had so much hope will have become completely disillusioned  and will put financial spread betting down as something that just doesn’t work.

I realise that this all sounds very negative but the situation could have been completely avoided by starting off slowly. One of the great things about the internet is that any system can be researched, there is bound to be feedback on one forum or another so before you part with your cash, make sure that it does as it says on the tin, so to speak.

Next, bear in mind that no system will produce winning spread bets every time so if you are using large stakes to an inadequate bank it doesn’t really matter if you are using the best system that has ever been invented, you will still probably run into trouble.

Several brokers nowadays allow new traders to start off with small stakes so use this facility when trying a system out, don’t give up if the first few trades don’t go as expected and if you have done your research beforehand you will be confident of staying with it for the long term and be in a position to reap the rewards that financial spread betting can bring.

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