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The Financial Spread Betting Handbook: The definitive guide to making money trading spread bets by Malcolm Pryor

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16. When To Exit A Bet

At the end of the last chapter we finally placed a bet. This chapter looks at when to get out.

There are four scenarios to consider:

  1. the bet goes against us;
  2. the bet goes nowhere;
  3. the reason for the bet disappears; or
  4. the bet goes our way.

Just before you read this chapter, you might want to check you are completely comfortable with stop losses [explained in Part One], and the related material on order types.

1. The bet goes against us

We decided what to do here before we entered our bet. We decided on our stop loss point in advance. If price reaches our stop loss point, we get out. Either we have set an automated stop loss or, if not, when price reaches the stop loss point we place an order to exit online ...

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