The first step is to fund your spread betting account with £100 - £200 if you haven't already done so. Note: as the spread betting firms are all regulated by the FSA all client money is guaranteed up to £48,000 per person.
Then look to trade at least 50 if not 100 times during the week with little regard for profit or loss, in fact it's immaterial at this stage. Now, before anyone thinks I've lost my marbles for suggesting this, there is a method to the madness and it's all to do with -
a) How and what you should trade, and
b) All trades will be risking the minimum of just 10p a point
The best way to trade 50-100 times with very limited risk is to pick 6 'popular' shares. I've just logged into my Finspreads trading platform and on the main price page they list the 'popular markets', within that you'll find about 10-12 individual shares. Here are 6 of them that I've picked, note they're all priced between 400p - 500p.
- Marks & Spencers
Add these shares, or similar ones, to your Watch List. If you're unsure what a 'Watch List' is, or how it works, see your trading platform's user guide.
The trick to making this all work, meaning you can trade 50-100 times without losing more than £10 (you knows, you might even profit), is to go long 3 shares while simultaneously going short the other 3. This means your overall position will be flat as each long trade generally cancels out each short one.
But also look at the price of the individual shares - between 350p and 450p (at the time of writing). So even if you were long Barclays at 366p (10p a point) and the company issued an unexpected profits warning so knocking the shares 25% (91p) in an instant your total loss would be just £9.10.
However, if you picked shares priced at 1000p+ a 25% move at 10p a point would be mean a far larger loss, in excess of £25. Not a lot of money I admit but why put yourself in a position to lose £25 during the learning process when you could lose under £5 for the same lesson?