LONDON, October 21, 2010 /PRNewswire/ -- Joshua Raymond, Market Strategist at financial spread betting provider Finspreads (http://www.finspreads.com), 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. They allow you to keep abreast of 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?
One way could be to dedicate more time to your spread betting 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 betting, regardless of whether you ultimately execute your spread bet via a mobile, iPhone or online trading platform.
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.
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, spread betting provider Finspreads offers mobile trading that gives you access to the full range of markets ( http://www.finspreads.com/our_services/spread_betting_markets.aspx) and order types available on its online trading platform. This allows you to continue trading only the markets you truly understand and to carry on using a stop loss order - whether standard or guaranteed - for every spread bet you make.
For more on iPhone spread betting, visit http://www.finspreads.com/spread-betting-iphone-app/. For more on mobile trading, visit http://www.finspreads.com/our_services/finspreads_trading_platform.aspx.
Spread betting 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.
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