Reckless Deals Cost A Spread Betting Trader Millions
If managed correctly, spread betting can be a profitable and lucrative enterprise but as one high-profile figure has found out it can also lead to huge losses if not managed correctly. Years of Reckless Deals Cost A Spread Betting Trader Millions and eventually bankrupted his multi-million pound Joe Bloggs clothing empire.
Many traders and investors across the world make handsome profits from spread betting at firms such as Spread Co, for example but for one trader ill-advised and reckless trades have cost him over £60 million. Shami Ahmed, founder of the iconic 90’s clothing brand Joe Bloggs has been declared bankrupt after losing nearly £60 million placing questionable high-risk spread bets.
The one-time multi-millionaire placed millions of pounds worth of spread bets, with varying results. He is said to have made a £9m profit spread betting on Moss Bros shares but this is one of the few success stories. In stark contrast Ahmed has lost tens of millions of pounds making spread bets which industry observers have branded as uncalculated and reckless.
Spread betting, like all other forms of gambling involves risk. However, careful management along with tried and tested spread betting methods can bring much financial success. Many spread betting companies will offer in-depth training guides which will point you in the right direction but another useful resource to arm yourself with knowledge to place spread bets confidently and profitably is speaking to other traders, which you can do via our Trading Game forum. Here you can speak to other traders who will be able to offer you first hand experiences of spread betting along with strategies, hints and tips on how to successfully trade.
If you would like to find out more about spread betting plus take advantage of a great Double Your Trading Profits promotion visit www.spreadco.com. At Spread Co you can open a demo account to see how spread betting really works plus take advantage of the many trading tools and user guides before you invest any of your own money.
