Top tips on spread betting

Are there any sure-fire systems?

However, here are some nuggets:

BE DISCIPLINED

There's a saying in the business: Plan your trade and trade your Plan. Whatever trading system you use - and pick one that doesn't stretch your personal stress levels - make sure you stick to it. There must be no exceptions to your rules, therein lies the path to disaster.

BE COOL

Don't panic. Emotion has no place in the modus operandi of a speculator. It is a distraction that you cannot allow to influence your decisions.

ADMIT MISTAKES

You are bound to make wrong calls occasionally. When it happens, don't dither. You will have a rule that says cut losses, so do it. Remember, nobody is perfect and all trades cannot be winners. Always look at the bigger picture.

USE YOUR MONEY

Never borrow to bet. Only speculate with money you can afford to lose.

KNOW THE PRODUCT

Research and understand the volatility (range of price movement) of the instrument you are dealing in.

SLEEP WELL

If you lie awake at night worrying about a bet you are going to make, don't do it. If you are wakefully worrying about a bet you have already made, don't do it again. Life's too precious and too short not to enjoy every minute.