Spread Betting Guide to Trading On the Go for Beginners

LONDON, March 28, 2012 /PRNewswire/ --

Financial spread betting can be a part-time pursuit for traders. Following the markets; organising your account, and generally staying on top of your trades, can be a struggle.

Spread betting provider City Index makes juggling your work and home life simpler through easy-to-access trading platforms, available online and through mobiles.

Stepping away from the conventional trading platform is safe too; traders can access their accounts fully and securely, in the exactly same way they would do at home - but from wherever they are, whenever they want.

For some traders however, watching price movements through their mobiles via a mobile spread betting app, such as the one provided by City Index, can make them inclined to trade on impulse. This can sometimes be folly as traders need to stick to their trading goals and strategy.

Before you start trading on the various City Index mobile trading platforms, it is important that you've a comprehensive trading plan in place.

Trading Plan

A carefully considered trading plan can be imperative to your trading success.

If a market moves quickly, or becomes volatile, you must be able to make quick and well considered decisions; a solid trading plan would help you to do this and could be the difference between a profitable trade and a losing one.

Through your plan, it is advisable to make a note of realistic profit goals and maximum losses that you are willing to accept, as well as the maximum trade size at any one time and orders to set up entry and exit points, in and out of a market to help you manage your account in the long-term.

Start Mobile Trading

Increasing numbers of traders are using mobile trading apps to manage their accounts on the move.

The City Trading mobile app, from City Index, was voted 'Best Mobile Trading Platform' at both the 2010 and 2011 Money AM Finance Awards; being praised for its intuitive usability and the autonomy it offers traders.

Traders choosing to spread bet with City Index can quickly and easily download the app for free to their iPhone, Android or BlackBerry devices, meaning they can start spread betting - as well as trading CFDs - instantly and securely 24-hours a day from wherever they are. 

"Giving spread bettors the ability to trade whenever they want and wherever they are is completely where we feel the industry is going," said Joshua Raymond, Chief Market Strategist. "No longer are you restricted to making spread bets in front of the computer."

Summary

A spread betting mobile trading app can be the difference between a trade that nets a profit, and one that nets a loss. With heightened access to price movements, it's important that as a trader, you trade by the guidelines set through your trading plan - to avoid trading on impulse, which can lead to losses.

Spread betting is a leveraged product, and can result in losses greater than your initial deposit. Ensure you fully understand the risks.

About City Index:

Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.

As a group, we transact in excess of 1.5 million trades every month in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, CFD trading and, in the UK, spread betting.

We constantly look to improve the performance of our platforms and expand our range of services. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer support.

SOURCE City Index