Can I Make A Living Spread Betting

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Can you make a living spread betting? – Indeed, you can.
Hugely successful spread bettors include Simon Cawkwell, who has made countless millions with spread bets on stocks. Simon Smith is a bit cagey about exactly how much money he’s made from spread betting on housing prices, but confesses that it’s been at least enough for him to pay off his mortgage.
Yes, the majority of spread bettors will make mistakes and lose money but a minority are profitable, this is evident from a review in 2016 when the FCA found 82% of retail traders lost money, this means the 18% balance must either breakeven or be profitable – about 1 in 5.
In this chapter, we’re going to go over some practical steps to get you onto the right side of this divide. 
If you plan to make a living from spread betting, then you are, in effect, starting your own business as a spread bettor. As such, you should approach it like starting a business. Most businesses take a couple of years to become firmly established and consistently and significantly profitable. Your spread betting business is likely to be no different.
Having sufficient capital to start your spread betting business is actually likely to help you succeed
Having sufficient capital to start your spread betting business is actually likely to help you succeed, as it will free you up from feeling pressure to be profitable on every spread bet trade right from the beginning.
Next, you need a good business plan. Part of creating a business plan for spread betting is going to involve finding and adopting a profitable spread betting trading strategy.
It may take some time spent experimenting with various trading strategies before you find one that is (A) profitable and (B) that you’re comfortable with using.
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At the beginning of this chapter, we made reference to a number of spread betting success stories. You may have noticed that each one of the successful spread bettors named specialised in trading a certain market – Cawkwell, the stock market, and Smith, the housing prices market.
Most successful investors of any stripe concentrate their trading efforts on trading the financial instruments of a specific market. Therefore, it makes sense to focus your own trading efforts in the same way.
If you already have experience in, for example, trading stocks or forex, then you may want to take whatever skill and expertise you already have in one of those markets and apply it to spread betting.
Alternatively, you may want to blaze a trail as a spread bettor in a market that you haven’t previously traded. Either way, it’s important to find a market that fits your trading style and then learn all that you can about trading that particular market.
There are a couple of important calculations you need to make in planning out your spread betting business.
If you’re planning to make a living from spread betting, then how much annual income from betting do you need to live comfortably or at whatever level you desire.
What kind of return from your spread bets do you need on a daily, weekly, or monthly basis in order to generate that level of annual income. That calculation has to take into account what type of trader you are – a day trader, a long-term trader, or something in between.
However, depending on how much money you have available to fund your spread betting business, you may have to start out betting at that level and then gradually increase the size of your bet stake as your trading account grows.
In that case, you also need to try to estimate how long it will take you to amass sufficient trading capital to be able to bet at the level you need to in order to make a living from your trading.
Just like fine-tuning any business, successful financial spread betting takes time, practice, and effort. Don’t expect to be a market wizard right from the start. Instead, be realistic and just accept the fact that it takes time and learning to become a really good spread bettor
Be realistic and just accept the fact that it takes time and learning to become a really good spread bettor
First of all, no matter how adept you become at spread betting, you’re going to still have losing trades from time to time. Even the very best spread bettors don’t win every bet. Second, every losing trade can be a learning experience that helps you have more winning trades in the future.
The best attitude is to simply view losing trades as part of the cost of operating your business. There aren’t any businesses out there that operate with a 100% profit margin, so why expect yours to be any different
One of the many advantages that the spread betting industry offers is that you can make money from financial spread trading just as easily selling short as buying long. In fact, Simon Cawkwell amassed the bulk of his spread betting fortune by making short selling spread bets – betting on stock prices to drop rather than to rise.
A reversal is usually confirmed when price crosses over a major moving average
It may take some practice to get comfortable enough with selling the spread so that you are equally ready to buy and sell the market at any time. You can speed up your learning and trading skill in this area by making a conscious effort to be on the lookout for selling opportunities, and by always making sure to examine the markets from both sides, both buyers and sellers.
Keep in mind that the only reason one trader is able to buy is because another trader is equally willing to sell – and that selling trader is just as convinced that the market price is going down as the buying trader is that the price is going up.
And if it’s possible to make money from it, then it’s also possible to engage in financial spread betting for a living. All that’s necessary are the same ingredients that make for any successful business:
All profitable businesses are the result of hard work, regardless of whether that work is manual labour or market research. As long as you’re prepared to do the necessary work to make your spread betting business a success, there’s no reason that you can’t be the next spread betting success story.
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25th August - Wednesday at 1130 GMT
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Spread Betting for a Living – How to Make Money
For traders looking to play the markets professionally (or make a living out trading), whether through financial spread betting or any other instrument or investment type, there are a number of considerations that must be taken into account. Particularly for those considering giving up their job to trade financial spread betting for a living, running through the numbers and the practicalities of the plan are an important precursor to deciding whether or not it is viable. By the time you get to making a decision about whether to trade part or full time, you should already be reasonably far into your trading journey, and be comfortable with your ability to make a trade profitable. Beyond that, there are several key issues you need to think about in deciding how best to structure your working life.
The first thing you should think about is whether you need extra trading time, and whether your strategy can be expanded to fill either part-time or full-time hours. Generally, the bulk of trading work tends to revolve around research and strategy time, in addition to monitoring open trading positions and broader account management. Knowing how much time you need, or more important how you could use your time to turn a better trading performance is important as part of making the assessment as to how much time you need.
Another key consideration that should be at the forefront of your mind is the rate of return on offer from the hours you spend in front of your trading desk. In the situation where you are deciding between part-time and full-time hours, calculating this as an hourly rate is required to determine whether you can cover your cost of living for the hours you intend to dedicate to trading. Obviously this is dependent on a number of variables, including the amount of capital at your disposal and the efficiency and frequency with which you can generate results, but is nevertheless an essential computation in deciding whether full or part time works for you.
When taking the step towards becoming a spread bettor for a living, whether through switching up to part-time or full-time exposure, traders should be mindful of the need to set performance targets, to meet them and to learn from them in order to progress. Setting targets helps avoid getting too bogged down in the day-to-day, and allows traders to maintain a general oversight over how their account is performing. This allows strategic decisions to be made more effectively, but most importantly allows traders to make sure they are hitting their earnings targets to make part/full-time trading a viable option.
Spread betting can be great fun, but it has to be hard work. New traders especially can tend to get easily entangled in the novelty and adrenaline of being engaged in the financial markets, and it can be a exciting and exhilarating way to pass the time. But spread betting as a financial trading tool is so much more important and valuable than that, and unlike gambling, presents viable, credible opportunities for risk to be controlled and managed with a view to generating returns over the long term. When you’re engaged in trading the markets, there are a number of factors you should bear in mind to distinguish yourself from ‘leisure traders’, and to make the most of what the markets have to offer.
Being serious about spread betting means being absolutely ruthless, in a calculated, measured way, in order to extract the most from every position. That means sometimes taking non-glamorous positions, or exposing yourself to uncomfortable markets, if that’s where the opportunities reside. Sometimes it means holding positions open for longer than you naturally feel comfortable with, or chopping well-researched but losing positions as soon as they start costing you money to keep a tight grip on your portfolio. If you want to succeed, it’s important that you treat each opportunity as a professional, with the hunger and drive for a profit whenever possible. The more ruthless you are in position management, the better the results you can expect.
The most infuriating bad habit of new traders from the professionals’ perspective is gambling. Gambling in this context can be considered to be trading without enough research to make an informed decision. Even if the odd position comes up positively, gambling with financial spread betting is crazy. For anyone that wants to lose their investment capital, gambling is one of the quickest ways to go about it, effectively stabbing blind at the markets in the hope of a profitable position.
As an alternative, trade on measured logic and reasoned research. It might not sound instantly as fun, but it is a whole lot more satisfying to research, identify and profit from your own hard work, rather than hitting and hoping for the best. Indeed, gamblers also expose themselves to significant downside risks, which are far better controlled through a managed approach to the markets.
Along a similar vein, you need to research every single position and market you think you might trade before risking a penny of your capital. Spread betting may be enjoyable, but that isn’t its primary focus – you need to put work and effort into every position you trade in order to make sure you’re making the best of every pound risked. Read current affairs, research the markets and look at the graphical pricing data to establish trend directions and whether there are any obvious opportunities in waiting, before taking your exposure to any market. This will help ensure that the trades you do place will be the best thought-out, and the most likely to succeed with all other things being equal.
Unlike gambling in an online casino, where you may be happy to lose substantial amounts of your capital in the hope you’ll eventually recover it, the approach to capital management for successful spread bettors has to be different. It has to be much more guarded, and traders should try to guarantee the integrity and safety of their capital as far as possible on an ongoing basis. Lost capital is not just a few pounds down in your account – it’s lost opportunities for making more money. As the core and probably one of the only assets traders can leverage, capital integrity is a key theme amongst experienced spread bettors who appreciate the professional demands put on .
Trading spread betting on a more professional basis is a risky, difficult way to make money, but one that remains viable for traders who take the necessary steps to ensure good results.
Independent Investor is a news and educational portal covering latest events in the world of trading and investment. Our team of dedicated writers work hard to bring the facts to our readers on a daily basis. Information on this website is for informative purposes only. Financial spread betting, forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs, forex, and spread betting. You should consider whether you can afford to take the high risk of losing your money. Independent Investor offers an unbiased and independent broker comparison service, but we may receive compensation from listed brokers.
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