Three things every new spread better should do

Novice spread betters can often get their fingers burned. But that needn't happen. Tim Bennett oultines three vital things to do that will help you get off to a winning start.

For a beginner, spread betting can seem daunting. There's all the new jargon to master, for starters. And some markets such as commodities and currencies move very fast. Stories abound of how novices get their fingers burned. It's enough to put you right off.

But that's a pity. With a bit of effort you can ensure you are armed and ready when you decide to place your first bets. Like learning a new language or skill, spread betting rewards time invested. Just like any other type of investing, spread betting is no fast track to untold riches. So what can you do to build up your knowledge?

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.