Spread betting exit strategies
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by Harry Davies on 18th October, 2016
While the majority of traders are entirely focused on their entry point and timing, the truth is their exit tragedy should be the first thing to consider, crafting an effective get-out plan that gives way to betting success. At Spread Betting we are strong believers in the worth of a strategic plan, especially when it comes to devising spreads. Allowing players to leave their emotions at home and view the experience as a business move an exit strategy can be the difference between a good day at the office and a marvellous one.
Have a plan and stick to it
Although many traders may have a loose plan in their head (and dollar signs in their eyes) high level spread betting requires much more, especially for the unseasoned trader.
Determining various aspects such as where you plan to exit, whether it is at a loss or a profit, prior to entering a spread bet, can dissolve some of the uncertainty, helping prevent any costly errors or emotion-based decisions in the long run.
According to LeapRate:
'Traders should have a target in mind and should determine the risk he or she is prepared to take in order to reach this target. Think of a stop loss as the amount of money you are willing to bet that the trade will go in your chosen direction.'
At Spread Betting we offer a wide range of spread bet providers that encourage control, going to great lengths to educate and inform. Through channels like Spreadex traders have the chance y of setting various order types, utilise advanced trade protection such as a Stop Loss, Take Profit or Guaranteed Stops.
If you like the idea of spread betting with a strategic head on then sign up with any of our partner platforms today and enjoy a free welcome bonus.
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