In this short Video Vince Stanzione explains how he makes money from financial trading and financial spread betting. to find out more just go to http://www.winonmarkets.net
Want to be a trader?
If you want to be a trader you need to work out what is your best trading style as, although the idea of ‘day trading’ and making short-term bets may sound exciting, the reality is that my wealth has not come from short-term bets. It has come from trading trends over weeks, months and years.
While brokers and bookmakers like to generate more business from active customers, I believe the winners in the long run are the least active traders. For many readers that are more conservative and with a little grey hair, you will not be suited to short term in and out trading.
As a trend trader I am not glued to a screen all day and only check prices at the end of the day and on some trades only once a week.
Learn good money management – start small
To be a profitable trader you do not need to make money that often. In fact, you could fail with 80 per cent of your trades and still turn a profit.
If you lost £100 on 8 trades and you then make £500 on two trades, you are in profit.
However sure you are that the market will crash or XYZ is going to soar, if you make your first trade a small one, and then, if you are correct, add more to that trade. Pyramiding a successful trade is the key to making large returns.
And never add to a losing trade!