Can we living with Spread Betting ?

While looking at yahoo answers I came across the following question related to Spread Betting

Would you recommend spread betting to make a million or at least a living?

I want to know in your opinion if you would recommend spread betting to me to make a million pound fortune, or am I likely to be wiped out completely?

Also, I have quite good knowledge of the financial markets, at least more than I used to, and I've had practice expreience with spread betting with capital spreads, and I'm up 400% with my account.

Would you recommend I do this to make millions or at least a living? Please advise. Thanks.

Best answer by agent4927

It takes the average day trader about two years before they start making any money trading and about 90-95% of all investors give up before then.

Well done on your practice account - but you must trade with real money as soon as possible as that is the only way you will learn how to handle the emotions that go with it, or indeed if you are able to handle the emotions that go with it. (Emotions are the most difficult aspect of trading)

So the answer is - yes it is possible to make a fortune spread betting, but it is much easier to lose money.
Source(s):
Been trading spread betting for about a year, just starting to make money.

Other  answer by David M

Investing in options is a risky business. If it were as easy to make money doing this, everybody would do so and nobody would work. As long as trades go your way, yeah you can make money. Congratulations on making 400% so far. Unfortunately you can lose most of it with just a few bad trades. I'd keep a full time job and continue to try your trading techniques and see how they work. If you continue to do well, I'd suggest writing a book. Good luck.