Book Club Live - 5 Questions with Robbie Burns, author of The Naked Trader\'s Guide to
- What's the book about for those who haven't heard of it?
It's about learning to use spreadbetting as an extra tool for those who already invest or trade their money in stocks and shares. Spreadbetting is considered as a tool for city slickers but the book is designed to take the fear out of it for newcomers and describes how to do it simply.
- What's spread betting for those who are not completely sure?
It's the same as buying or selling shares in the market except you are in effect putting on a bet with a bookie rather than buying or selling real shares in the market. But the benefits include being able to make money from shares going down as well as up - very useful in turbulent times - and it is tax free!
- What's the best tip you'd give to a new spread better?
Take it very slowly and carefully at the start and ensure you know exactly what you are doing before moving to larger stakes.
- What's a big mistake newcomers to spread betting make?
Using all the credit offered which leads to overtrading. For example a £1,000 deposit could give access to trading in £10,000 worth of shares. This could lead to losses that the new trader can't cover.
- What projects are you working on next?
A third edition of the bestseller Naked Trader.
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