Traders Diary Launch of a New Video blog by a day trading Spreadbetter

April 18, 2008; 03:15 AM

Eastbourne, England (PRWEB) April 18, 2008 -- Paul, 43, lives in Eastbourne, a sleepy south coast town not known for its risk taking. Will this diary see Paul lose his initial stake of £900 or can he make a success from financial gambling?

He has dabbled with spreadbetting in the past with mixed results. He hopes the diary will help him clarify his own trading strategy and help him analyse his own results. He is an accounting and economics graduate from Southampton University which may be a help and he has also worked as an accountant for various firms since graduating.

Paul's working life is at a crossroads, he has tried other businesses recently including writing a children's fantasy novel, hosting business networking events and experimenting with online businesses involving holidays, property and email video. All with limited success. Could there be a career in financial trading or will he have to return to number crunching? Accountants are trained to be cautious and spreadbetters need to take risks. Perhaps Paul will be unable to take the necessary gambles or will an accounting background help Paul to control risks better and lead to overall better trading results?

The website, http://www.tradersdiary.co.uk , will chart his progress using short videos, each under 2 minutes in length, to explain trading thoughts, trades made and their outcomes. Initially Paul is looking at trading the US Dow equity index and gold, however no doubt his strategy will evolve over time. This website could close within in a matter of weeks or even days if a series of bad trades wipes out his initial stake. It is important to note that this is amateur site recording personal views and a personal story. In no way should it be viewed as giving advice and this disclaimer is given at the top of the website's home page.

Interest in trading shares has grown in the last few years and Joe Public can now trade with a relatively small stake. As banks around the world cut interest rates and inflation continues to rise the real return on a savings account can typically only be a couple of percent. If Paul can return more than a few percentage points over the 12 months then in one sense the exercise will have been a success. However, money in a bank account is fairly safe and its unlikely that a saver will lose his capital sum. Spreradbetting however involves considerably more risk with the whole capital sum in danger of being lost . The diary could prove to be a useful insight to people considering trying spreadbetting for the first time.