Top Forex Pairs
Forex is the largest market in the world and trades around the clock. Which currency pair is trending the strongest RIGHT NOW? Find out what pair is topping our list and where is it going, view this list for free now!
Todays Top Performing Forex Pairs

Traders Day Trading

Traders Day Trading Home

Traders Community

Traders Financial Directory

Kennys Elliott Waves Blog

Trading Questions

Technical Analysis Questions

Traders Site Blog - What's New

Stock Market Trading

Stock Market Today

Trading Resources

Online Stock Brokers

Financial Spread Betting

CFD Trading

Forex Trading

How to Calculate Fair Value

Money Management

Learn How to Trade

Learn How to Trade

Virtual Trading

Trading Course

Stock Market Basics

Technical Analysis

Technical Analysis

Elliott Wave Theory

Hurst Cycles

WD Gann

Stock Chart Patterns

Trend Trading

LT Technical Analysis Trading

ST Technical Analysis Trading

The Stock Market

The London Stock Market

The Federal Reserve

Financial Articles

Submit Financial Articles

Site Search / Misc

Site Search

Quick Links


Great site Kenny.

Technical Analysis written in a straightforward way so that everyone understands.

There's only a small few who get it consistantly correct and you are certainly in that group. Chris

Thanks for putting this all together and sharing! BHW

Awesome Stuff! Kenny has shown time and time again the ability to show us direction in these markets. Khalsa

Kenny, I appreciate your insight and analysis. You make sense of what I can rarely see.

Thanks for sharing.

Took a gold short at 1240 just closed at 1203 :-)))))))))))))))))) ........ top call!!  Gekko

The Malcolm Pryor Interview

Author: The Financial Spread Betting Handbook

The Malcolm Pryor Interview

The Malcolm Pryor Interview - Author of The Financial Spread Betting Handbook: The definitive guide to making money trading spread bets talks to Kenny of

Financial Spread Betting is an extremely flexible way to trade for short term and long term traders. It can offer a very cost effective means of trading for serious investors, or it can also be a fun way take a position in the markets for those that just want to take an occasional bet to try their luck at trading in the financial markets.

Malcolm Pryor is a very well respected speaker and author of a number of publications focusing on Financial Spread Betting - Kenny talks to Malcolm in - The Malcolm Pryor Interview.

Kenny: Hello Malcolm, thank you for talking to, Before we begin, please give our visitors a little bit of an insight into your background. Who is Malcolm Pryor? 

Malcolm: Malcolm: I am a trader, a trading coach, the author of 3 books and 2 DVDs on spread betting and the editor of I run seminars on trading, both independently and for third parties. I am an active member of the Society of Technical Analysts in the UK.

Kenny: Much of the information and strategies in your books is equally applicable to traditional trading methods through regular stockbroker accounts, what got you interested in Financial Spread Betting in particular, as a means of trading and investment? 

Malcolm: I started off by taking responsibility for my own pension decisions (having seen what a poor job had been done by advisors), then branched out into a range of other trading activities. I started spread betting in 2001. In the pension I use CFDs FX accounts and on line broking accounts, outside the pension I only use spread betting these days.

Kenny: What do you see as being the top 3 benefits associated with trading and investing with Financial Spread Betting, over traditional trading methods?

Malcolm: Tax advantages (if you win over a certain amount per year); the ease of going short on stocks in bear markets; the ability to trade so many instruments types in one account.

Kenny: So what are the main disadvantages. What are the issues that we should consider before deciding whether Financial Spread Betting is right for us as an individual. Is there anyone that it is never going to be suitable for.
Malcolm Pryor: Author of The Financial Spread Betting Handbook
Malcolm: Since 85% or more of spread betting customers lose, the tax advantages for most people are an illusion; the leverage is a double edged sword and without appropriate risk control customers can lose not only their original stake but much more in addition; anyone who thinks spread betting is an easy route to riches is almost certain to lose.

Kenny: One of the main 'complaints' that I hear voiced from traders is that it sometimes feels as though the Spread Betting Companies 'target' their Stop Loss levels, before the market reverses to move in the direction that they wanted it to move in. What are your thoughts on this:

a. Do the Financial Spread Betting companies really want us to win?

Malcolm: This depends on how much they hedge, which varies by firm. A firm that doesnt hedge at all is like a bookie that doesnt lay off their book, they will lose if the customers win. By the way, this doesnt bother me at all, it won't affect any of my individual bets.

b. Are there underhand practices that go on that can move a whole market to where my stop loss is before reversing again?

Malcolm: When I first started spread betting there was quite a lot of press comment on certain practices which were seen as "close to the edge". Unusually large spreads for short periods of time, which had the effect of taking out stops was one press theme; another was requoting, where you were not filled at the price that had been quoted on the platform, and got an alternative new quote, almost always worse. My belief is that these kinds of things are largely a thing of the past. I trust the firms I use and they have also have excellent help desks.

c: What are the main things that individuals can do to protect themselves from getting stopped out of perfectly good trades at the market extremes? 

Malcolm: Many traders lose by using too tight a stop, so their stop will get hit by random price movements even though their trade direction was called correctly. In addition, you should avoid the most obvious stop loss points because the underlying market makers (not the spread betting firms) gun for them. As an example for a day trader, 1 tick above the
high of the day or 1 tick below the low of the day is where there are thousands of stops and are natural targets for the market makers.

Kenny:  What are the Malcom Pryor top tips for how to become consistently successful at spread betting.

Malcolm: no different from what is required for successful trading in general;
  1. You need to have a detailed plan and clear trading objectives
  2. You have to have at least one trading strategy which has a positive expectancy, actually it is better to have several each of which works best in a different market type
  3. You have to be able to execute the strategies flawlessly
  4. You have to manage risk
  5. You have to develop the right psychological framework for trading

Kenny: What are the main pitfalls. What are the most common reasons why spread betters who fail to become successful, lose money?

Malcolm: The 3 biggest reasons are
  1. Trading with no edge; there is no long term positive expectancy in what they do so in the long run they lose
  2. Wrong bet size; so they might have a positive expectancy strategy, but they lose their funds before the long term edge can come into play
  3. Lack of discipline; so they might have a positive expectancy strategy, but then they do something else

Kenny: Congratulations Malcolm, on the publication of your new book The Financial SpreadBetting Handbook 2nd Edition. What can readers learn from it, and what makes it different from other Financial Spread Betting manuals that are available?

Malcolm: It is now 4 years since the first edition came out and in 4 years the spread betting markets have moved ahead quite a bit, plus I as a trader have moved ahead. As a result I have updated the Handbook quite a bit. My focus is on practical trading issues rather than theory. I think I have 400 trading books in my library and I hope some of the learning from them and from a decade of spread betting have found their way into this second edition.

Kenny: Malcolm, thank you once again for talking to us today, and good luck with your new book The Financial Spread Betting Handbook: A guide to making money trading spread betshe Financial Spread Betting Handbook: A guide to making money trading spread bets

Return from the Malcolm Pryor Interview to Financial Spread Betting

More Malcolm Pryor Books

The Malcolm Pryor interview with Kenny of Traders Day Trading

Return to the Traders Day Trading Homepage
Stock Market Trading with Technical Analysis Charts - Learn How to Trade Successfully!