There are many ways to sell to a skeptic, before that Skeptic are those who are in dilemma or in doubt to accepted opinions. So here we will discuss how to do successful selling of spread betting.
Trade at small positions when starting: So in order to sell we need to keep our trade really very small as possible to a maximum point let £1 at a point. So, initially do this then after you will be a head of new traders.
Patience: Secondly, be patience and learn to pick your trading spots. Here, the importance of patience is that we don’t need to think that every move had to be trade. So instead it better to watch the market and get some sort of most selling trades and even where the risk (means loss) is small and profit is more. So, be patience and sell to skeptic who attracted the exact trading spot.
Comparing different services: The way a spread betting provider makes their money is via the difference between the buying and selling prices, which is known as the spread. Whenever you open and close a position you have to cross check the spread and this represents the main cost of the trade. All the companies price their quotes from the underlying assets and then add a small mark-up to the market spread. Some providers are more competitive than others and this is an important factor especially if you are an active trader or deal in large size.
Plan your trades: To consistently make money from the markets you need to plan your trades in advance. This requires an approach where you are clear about why you have opened the position and know where you intend to take profits and at what point you would close out at a loss and also keep on track of your results which you had trade it before so that you can find some mistakes which you had done earlier and try to minimize that.
Stop losses: This was the basic thing that we need to minimize our loss and to maximize our profits. So to reduce loss we need to think what type of trade we need to do, we don’t get profit for every trade but if we stop getting lose then it will save our financial life.
Seeing markets and spotting the trades: Another way is to identify the trade from markets analysis. An important news about a particular company can often result in a major price movement. So, the large spread betting providers include a live news feed in their platform and most publish an analysis of the key items.
Social media: So now a days social media takes part a major role, so the spread betting industry has adapted its services to reflect the growing importance of social media. Twitter is particularly useful as it offers a convenient way of keeping clients up to date with all the latest market news and analysis.
Best educational resources: This resources are basically to the persons who are new to spread betting or else the traders who wants to improve their trade for these people there are lots of educational resources that can help them. So if you see something you think would be useful from another provider you might want to consider moving your account or opening a second one to run alongside it.
Videos and seminars: CMC Markets, which has produced a number of useful videos including how to use stop losses and the five most common trading mistakes to avoid. It is also worth watching their non-farm payroll webinar. This goes out live once a month and looks at the market reaction to this key piece of economic data.
Client sentiment: One of most innovative developments is the client sentiment indicator. This shows the proportion of clients with long positions in a particular market, as well as the percentage who are short and the total number of people involved together with the direction of the most recent client trading activity.
Clients have found the sentiment indicators and the breakdown into trading activity that covers several different time frames to be one of the most useful elements of the platform. CMC Markets has also developed a similar feature, except that users can filter the data to exclude clients that have not made an overall account profit over the last three months.