Finspreads Market Strategist Joshua Raymond, recently stated that he sees the future of spread betting as being dominated by mobile trading. "[Mobile trading platforms and iPhone spread betting] are fantastic” he said.
“They allow you to keep up to date with the markets wherever you are, whenever you want. With many markets available to trade 24 hours a day, and especially since the markets have been volatile recently, it is imperative that you can react with just a few clicks of a button."
So, with mobile trading platforms and iPhone spread betting set to play a big part in the future of trading, how can you adapt your spread betting behaviour to get the most out of them?
Research
One way could be to dedicate more time to your analysis. Whilst mobile trading platforms increase your ability to access financial spread betting prices whenever you want, the danger is that the more you look at prices moving, the more likely you may be to make impulse spread bets.
This makes thorough spread betting research more important than ever. You should always analyse your market carefully before spread trading, regardless of whether you execute your spread bet via a mobile, iPhone or online trading platform.
Complete Spread Betting Strategy
Another way of capitalising on the fluidity of being able to access prices, spread bet and monitor open positions whilst on the move might be to develop a more complete spread betting strategy.
Acting on emotion is never a good idea, so knowing price objectives, entry points, exit points, risk-reward ratios and which stop loss to use for every spread bet you make will help you to approach your mobile trading or iPhone spread betting with a level head.
Keep Calm, Carry On
Finally, although there are ways in which you can adapt your spread betting style to the mobile trading platform, it is also important to remember to keep some of your trading methodology the same.
For example, Finspreads offers mobile trading that gives you access to the full range of markets and order types available on its online trading platform.
However, you should continue to only trade the markets you truly understand and carry on using stop loss orders, whether standard or guaranteed, for every spread bet you make.
Spread trading carries a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.
Article provided / approved by Finspreads which is a trading name of City Index Limited ('CI'), which is a spread trading and contracts for difference ('CFD') provider. CI is authorised and regulated by the Financial Services Authority, Firm Reference Number 113942.
iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.
'Spread Betting Tips: Getting the Most from Mobile Spread Betting' edited by DB, updated 09-Nov-10
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Risk Warning:
Please note that spread betting and CFD trading carry a high level of risk to your capital. You can lose more than your initial deposit. These products may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
* Tax law is subject to change or may differ if you pay tax in a jurisdiction other than the UK.
