@TrendFollower I totally agree with you. If you haven't got the following you are 100% gambling :
Lastly you have to be comfortable when you place your money on a trade or buying stocks is to be prepared to loose it if it goes against you (Your exit strategy/plan should cut losses/minimize losses). If you cant accept that loss then spreading betting/ trading is not for you.
I have lost more then $10k because of the lack of discipline of not following my exit strategy. I am recovering it back gradually through discipline/ a strong mindset and learning from top level traders through books,videos,podcasts/audio books, one on one mentor ship and repetitive revision on these learning mediums.
Psychology is the top most important aspect in trading/spread betting or any type of activity with the financial market. Even if you are on a loosing streak of trades, a strong psychology will enable you to put on trades on new opportunities without fear of loosing money.
"The greatest lessons are learnt in difficult times not in perfect conditions" - This quote is my personal testimony