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The Financial Spread Betting Handbook, 2nd edition

The definitive guide to making money trading spread bets

By Malcolm Pryor

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About the Author

Malcolm Pryor

Malcolm Pryor is a member of the Society of Technical Analysts in the UK and has been designated a Certified Financial Technician by the International Federation of Technical Analysts.

He is a director of a consultancy practice and is an expert at several games, including bridge, where he has held the rank of Grandmaster or higher since 1996.

He provides one-to-one coaching for traders, ... Read more on Malcolm Pryor

Contents Listing

Preface to the 2011 edition
Preface
Acknowledgements
Risk Warning
Introduction

PART 1 - Base Camp
1. Choosing A Spread Betting Firm
- Origins and growth of the market
- Selection criteria
- The 6-Stage Plan for opening an account

2. Getting Set Up - Computer Hardware And Software
- Hardware
- Internet connection
- General software
- Backing up

3. Trading Resources
- Trading software
- Price data
- Websites

4. What Do Winning Spread Bettors Bet On?
- Markets
- The 3 key tests
- Differences between the spread betting firms
- Personal observation

5. Choosing A Spread Betting Type
- Types of betting
- Differences between the spread betting firms

6. Timescales For Spread Bets
1. Extremely short timescale
2. Short timescale
3. Medium timescale
4. Long timescale
5. Very long timescale

7. Pricing and Hedging
- Do they really want you to win?
How spread betting firms work out their prices
How competitive is the market?
Do they hedge?
Future developments - a wish list

8. 10 Common and Really Expensive Spread Betting Errors
1. No edge
2. No planning
3. Wrong bet size
4. No risk management
5. Mistiming exits
6. Out of control
7. Not in tune with the markets
8. Running before walking
9. Emotionally unstable
10. Not taking responsibility

9. Keeping Losses Small - The Stop Loss
- Stop or no stop?
- Near or far?
- Automated or mental?
- Instant or delayed?
- Techniques for placing stops
- One more useful approach - the time stop
- Two tips
- Moving stops

10. Spread Betting Order Types
- Time stop
- Are some orders better than others?
- What's on offer in the market?

11. Practical Issues
- Order placement
- Automated stop orders
- Dispute resolution
- Funds transfers
- Keep abreast of your margining position
- Congratulations!

PART 2 - Climbing The Mountain

12. Finding A Strategy That Works For You
- What do you like?
- Technical analysis is excellent for spread betting
- The basic choice: trend or countertrend strategies?
- Or delta neutral strategies
- Master one strategy first

13. Spread Betting Strategy I - Betting On A Trend - Trend Identification
- Basic concept - using spread betting to ride a trend
- Break outs or pullbacks?
- How to identify trends

14. Spread Betting Strategy I - Betting On A Trend - Selecting A Bet
- Simplifying trade selection - the weekly shortlist
- Simplifying trade selection - identifying daily set ups
- Taking the trade - entry triggers
- A new approach to short listing

15. Spread Betting Strategy I - Betting On A Trend - Bet Size
- Taking the trade - the right size of spread bet

16. When To Exit A Bet
1. The bet goes against us
2. The bet goes nowhere
3. The reason for the bet disappears
4. The bet goes our way

17. The Re-entry

18. Spread Betting Strategy II - Betting On Reversals
1. Buying support and selling resistance
2. Betting on candle patterns
3. Betting on gaps
4. Betting on divergence

19. Spread Betting Strategy III - In And Out Within A Day
You need the time to do this
Finding intraday bets
Betting as company results come out
Betting on false break outs
Betting on blow offs
Betting on indices and currencies intra day
Binary betting

20. Advanced Strategies
Arbitrage
Pairs trading
Hedging

PART 3 - The Route To The Summit

21. The Right Strategy For You
- Character
- Account size
- Beliefs
- Attitude to risk

22. Staying In Control - Planning
- Annual trading plan
- A week in the life of a successful spread bettor

23. Staying In Control - Record Keeping

24. Staying In Control - Regular Reviews
- Monthly review
- Annual review

25. Staying In Control - Risk Management, Again
- Staying in tune with the markets
- Monitoring positions
- Margin control
- Managing total exposure and leverage
- Net long/short
- Diversification
- Standing aside
- Counterparty risk
- Exceptional events
- Contingency planning

26. Developing A Winning Attitude
- Profile of the successful spread bettor
- 10 Rules for Profitable Spread Betting

27. Continual Development
- Books
- Seminars

Appendix
- Examples of Basic Bets
- Spread Betting Glossary
- ADX
- Support and Resistance
- Betting via Exchanges
-- How it works
-- Benefits and risks of this type of betting

Index
Preface to the 2011 edition
Preface
Acknowledgements
Risk Warning
Introduction

PART 1 - Base Camp
1. Choosing A Spread Betting Firm
- Origins and growth of the market
- Selection criteria
- The 6-Stage Plan for opening an account

2. Getting Set Up - Computer Hardware And Software
- Hardware
- Internet connection
- General software
- Backing up

3. Trading Resources
- Trading s ...

Jacket Text

Financial spread betting is a huge industry. But who wins and who loses at this game? What do the winners do that differs from the losers? That is what this book is about.

Malcolm Pryor uses the model of climbing a mountain to explain a disciplined, winning approach to spread betting. First a base camp must be established. This includes getting set up with the right corporate data, charting and accounts software, deciding what to bet on and what your time frame should be, learning the nuances of operating an account, controlling risk, and learning from other people's mistakes. Many spread bettors don't even get this far.

Next, we start climbing the mountain; this means having strategies that are right for us. The whole of this section is devoted to illustrating strategies which can be used for spread betting, for example trend following, counter-trend strategies and delta-neutral strategies such as pairs trading.

Finally, we make our assault on the summit of the mountain. This is where the winners set themselves apart from the losers. Issues covered here include trade planning, record keeping, performance reviews, more on risk management, psychology and continual development.

In this enhanced second edition, you also benefit from:

- Refreshed and improved trading and risk management techniques, incorporating four additional years of spread betting experience and changes in the markets.

- Brand new advice on managing exposure.

- Updated analysis of spread betting firms' behaviour, order types and other practical issues.

Spread betting is great fun; almost anyone can enjoy the odd bet now and again. But if you want to make money from spread betting then it must be taken seriously and a disciplined, tactical approach is required. This book is the essential guide to get to the top of the mountain.

Professional Reviews

"This leading guide to trading well justifies its second edition." - Money Maker magazine

Praise for the first edition

"This book really is a must for anyone who wants to spreadbet and indeed for experience spread bettors too because there are some excellent advanced strategies in here." - Robbie Burns, www.nakedtrader.co.uk

"It is an ambitious task to write a comprehensive handbook about a trading method, but The Financial Spread Betting Handbook does not let the reader down. Many will find it useful, from keen beginners to more experienced spread bettors." - Shares magazine

"The clue to the book's usefulness is contained in the title: Handbook...This is because the mountain climbing analogy is apt: climbing a mountain means you don't go from base camp to the summit in one step (you'll probably forget to pack the thermal underwear and oxygen mask). You have to start at the bottom and work your way up. So too with this book. This is not just a book about spread betting, it's also a strategy of how to apply spread betting to your investments... [It's] something you'll frequently dip into to clarify a point or refresh your memory. Even if you're not an investor but someone who, say, has...a knack for predicting the outcome of sporting events - but are wary of fixed odds betting, then spread betting is a Godsend and you'll find this book extremely useful." - Martin Fagan, UK-Analyst.com


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Media Coverage

Money Maker Magazine

This new edition of Malcolm Pryor?s original spread betting bestseller not only takes account of recent market changes, but also adds four further years of trading experience ? making it, says ...

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Your Trading Edge

This a review of the second edition of this book. The first edition received a positive report back in 2008. Both books are a clear guide to spread betting, from opening an account to managing ...

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Traders Day Trading

The Malcolm Pryor Interview - author of The Financial Spread Betting Handbook: The definitive guide to making money trading spread bets talks to Kenny of www.tradersdaytrading.com

Financial Spread ...

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Casino Online

As with any second edition of a book, The Financial Spread Betting Handbook had a lot to live up to, as its predecessor experienced considerable success. After all, if the The Financial Spread ...

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Exchange Magazine

Four years since the first edition of The Financial Spread Betting Handbook was published, experienced financial analyst Malcolm Pryor returns with an updated second edition. In those four years, a ...

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Self Trade Stock Take

Spread Betting has been one of the fastest-changing areas of trading in recent years. But even its incredible growth has done little to change the ratio of winning to losing traders. 􏰀e ...

Read more

Media Review

Malcolm Pryor - YTE's Ben Power speaks to technical analyst and educator Malcolm Pryor - Your Trading EdgeJanuary/February 2012

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Media Review


Traders Tools - The Financial Spread Betting Handbook - Traders MagazineJanuary 2012

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Ytemagazine.com

"An excellent guide for those who are new to spread betting on the workings of the marketing and what to expect from your spread betting provider and account...Pryor's knowledge here is excellent... ...

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Casinoonline.co.uk

"As the book progresses, so does the complexity of the information that?s handed out. This is where the book?s main strength lays ? its versatility...Another major strength of this book is the level ...

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Tradersdaytrading.com

The Malcolm Pryor Interview - Traders Day Trading4th August 2011

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Media Review


The Exchange Book Club - The Financial Spread Betting Handbook - Exchange MagazineAugust 2011

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Cityam.com

For healthy profits, take the pulse of markets with technical analysis by Malcolm Pryor - City AM25th July 2011

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Issuu.com

Malcolm was named in the Top 50 Most Influential People in Spread Betting, Forex and CFDs by Exchange MagazineJuly 2011

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