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Types Of Spread Bet Orders
With spread betting there are a number of orders that one can use to conduct business. While all of them are simple, some of them can seem complex and involved to start with. It is therefore recommended that you fully understand the nuances and correct application before you use any individual type of order.
But don't worry too much because there is a fail-safe procedure built into the whole process - the spread bet broker will not accept an order unless he is confident that both sides understand it.
Beginners To Spread Betting Should Relax
- Spread Betting companies certainly have their fair share of professional clients but they also have many clients who are starting to spread bet for the first time
- The brokers are therefore well trained and experienced with handling clients who are new to the game
- Don't be worried at first if you don't know the absolute correct way to place a trade or if you need help
- It is essential that you trade at your own level of expertise and don't be afraid to ask for any help or for the broker to explain something that you don't understand.
What Does Long & Short Mean?
With spread bets it is not only possible to make money in a rising market but you can also profit from a falling market.
A long position or bet is when you are betting on the price rising. You could say for example;
'I have bought £1 a point of FTSE 100 index' or
'I am long £1 a point of FTSE 100'
A short position is where you are betting on a price decline. As in;
'I am short £1 a point of FTSE 100'
What Does 'Filled' Mean?
Filled simply means that an order has been completed. You may be working a limit sell order (discussed on page 5) in the Dow Jones index, 20 or so points above the current price. You telephone your spread bet broker an hour later to see if anything has been done.
The broker in this situation can only report one of two outcomes;
1. 'Your order is filled Sir', meaning you have traded at your price, or
2. 'Your order is still working Sir' and therefore nothing has been done
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