Learn How to Play The Markets And Win Money
By AdFeatures | Wednesday, December 19, 2012, 09:53
If you have ever looked at the financial pages of the newspapers and thought that, with a little training and knowledge, you might be the kind of person that has the basic skills and correct mental approach to do well trading the markets, then now could be the time to put your theory to the test.
The major obstacle in the way of finding out if you have the knack of being a good trader is that you need seed money to start. The responsibilities that come with knowing that different platforms such as spread betting, contracts for differences (CFD) and margined foreign exchange can all lead to losses as well as profits means many of us never take the first steps towards finding out whether we could do it or not.
City Index Competition Encourages Exploration
The Trading Academy competition that was recently launched by City Index; leading global providers of retail trading services who undertake in excess of 2 million trades per month for their customers. The process, which utilises a mix of online and in-person approaches, aims to show that with the right training and encouragement many people who may not have had the chance to trade can show themselves to be perfectly capable.
Chief Global Strategist at City Index Ashraf Laidi acted as a mentor and judge for competitors in The Trading Academy and explains that “the message at the heart of [the show] is that if you are disciplined and committed to embracing the educational element [then] you can have a successful trading experience."
After six weeks during which an initial eight competitors were whittled down with one leaving each week, the final took place at City Hall in the City of London. The three finalists were recruitment consultant Shazad Asher, freelance journalist Ryan Oliver-Thompson and trainee black cab driver John Walsh. All these individuals were acting in a pressured environment designed to closely match real trading floors.
John Walsh delivered a strong ROI of 23.6% for the final week and impressed judges with his ability to trade out of his losing positions; which not only showed an understanding of the processes involved but also exhibited the positive attitude essential to successful trading.
"It was very pleasing to see all of the competitors making such significant strides in a short period of time," Ashraf Laidi said of his and his fellow judges decision, "John won not only because he had the best ROI, but his willingness to continue learning and then applying this to his trading throughout was what impressed the judges the most.”
The winner of the £100,000 prize described his experience as “great” and showed no sign of wanting to abandon his newly discovered talents.
"The financial markets can seem so daunting," John explained, "but with the right support, anyone can develop the skills and confidence to trade.”
Spread betting, CFDs and Forex trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.