2 - 4 minute read
Trading in the financial markets can be a daunting task, especially for new traders. With so many different techniques and strategies, it can be challenging to pick the right one. But as per Corvin Cordiller, founding part of CCFX, spread betting is possibly the best starting point for a new trader.
Spread betting is essentially placing a wager on the future price movements of a market, asset or financial instrument. As such, it requires minimal capital and provides traders with an opportunity to learn the vital skills of risk management and money management, without exposing themselves to significant financial risk. The video suggests that spread betting is an excellent way to start trading, offering a low-risk entry point where new traders can gain experience and learn valuable lessons in the trading strategy without having to invest significant sums of money.
Corvin Cordiller, who runs CCFX, has been working in the financial markets for many years. His experiences have led him to believe that the key to successful trading lies in the trader’s ability to adapt and evolve their strategies continuously, as markets are always in a state of flux.
The interview also discusses the psychological challenges faced by traders when they are trying to avoid overtrading. Many traders feel the need to have an open position at all times, believing that it is the only way to maximize their opportunity. Still, this often leads to unnecessary risks and ultimately, losses.
Spread betting provides an excellent starting point for new traders. Minimal investment, low-risk entry points, and opportunities to learn valuable trading lessons make it an ideal way for traders to gain experience. This highlights the importance of constantly updating and evolving trading strategies, while also avoiding overtrading. By maintaining a healthy approach to the markets, and carefully managing risk and money, traders can position themselves to succeed in the long term.