Welcome to my new blog. I'm starting this really as a record of my progress but also to compare 2 different spread betting strategies I am using on 2 separate accounts to see which comes out top after 12 months. I hope you'll stick around and follow my progress.
A short introduction about myself:
I'm male, 35 years old and I'm a self employed architectural consultant, so I'm in the fortunate position of being able to work out of my home office. This gives me an added advantage of being able to trade at any time of day during London market hours.
I began spread betting (or trading as I prefer to call it) around 6 months ago after reading a few books on the subject. I've been a regular investor in normal stocks for around ten years so I have a fare grasp on how the markets work. I have the usual savings, ETFs and ISA accounts so spread betting is just another investment vehicle that I am trying out.
I actually turned a small but not insignificant profit during my first 3 months of spread betting, but as I began to learn the ins and outs of the platform software I discovered that the company I traded with had quite limited features compared to other companies out there - and on top of that their spreads were quite wide. Obviously every little advantage helps, so I closed all my positions and withdrew my funds whilst I did my research into other spread betting companies to decide what was the best platform for me.
During that first 3 months I was using a position trading strategy and like I said it turned a nice profit for me. What interested me was how this strategy which leaves the stock picking completely up to you would perform against a strategy based on 'professional' stock tip advice.
So I decided to open up 2 separate accounts on 2 similar platforms (both in features and in spreads) and test each strategy against each other.
So there you have it, basically this blog will follow the progress of each of the 2 accounts for the next 12 months. I am already 1 month into this experiment, so the next post I make will show you what positions I currently have open in one of the accounts.
Hope you'll stick around and enjoy the rollercoaster ride that is spread trading!
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