One of my friend started to work in a leading spread betting company recently. It was the first time i heard spread betting. It came cross to me as gambling at first but my friend tried to convince me that it is trading more than betting and many trader uses it to hedge their investment.
With these are in my mind, i bought a spread betting and a stock market books to get some beginner information about this sector. Let me be clear first, i don't like gambling, i never heard or seen anybody gains from gambling, apart from casino or gambling saloon owners. Besides, i saw from some of people around me how gambling dramatically effects people's life.
Spread betting book i purchased is Bets and the City: Sally Nicoll's Spread Betting Diary. It has good review rate on Amazon and i think it is a good book to get some starting information on learning phrase of a spread better or gambler.
Nothing can explain this book more than "Bridget Jones meets Wall Street", i think. As a middle age, single lady with tendency to gambling, Sally decides to play on spread betting after reading an article on a magazine. She is also a full-time writer, struggling to finish her first novel. While she learns and gamble rather than trade on spread betting, she writes her spread betting experience or dairies on a spread betting company's website.
She puts together a genuine dairy. In her blog/dairy, she writes all her mistakes, losses, gains and lessons with a hilarious way with her daily life. Like many beginner, she is not much successful, in many trades she loses, but each time she strikes back with new methodologies. And she explains in a clean way her mistakes, as much as she can.
When she published her spread betting dairy as book, after a year, she was still a learner and not millionaire yet. She does not reveal her final account figures in the end of the book, but i think, she lost big chunk of her initial money. But she still claims that spread betting (especially binary betting) is a trade rather than a gambling, which i doubt very much, especially in this financial crisis (even in normal conditions, in the medium and long term). Maybe Sally should try also arbitrage sport betting which a friend of mine claims that he earned decent amount with his pocket money when he was in university. When i heard these, i can not help myself thinking motto of BBC3's The Real Hustle TV program: "These bets are very tempting to take part in but you can guess which way the bet always goes - the hustler's way!"
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