I use acceptance in Spread betting so if I see prices take out a specific level then I’ll close it manually, but obviously if there is a price spike but for very, very short term day trades you have to use stops. We’re using very tight risk parameters, the actions very quick, the targets are very quick so on the very short term basis I would recommend using stops and not focusing too much on using mental stops.

John: Yes. Certainly mental stop approach is a better one really, but of course, it’s a lot more appropriate when you have other things to do, you maybe have a meeting or something or whatever it might be and if you take for example and you go out and buy a newspaper, which can take five minutes, and got to level crossing and the car approaching stops but there is a car speeding behind that car, crashed into the back of the car that had stopped, knocked it into him and he’s in the hospital and he was out of action two days and he lost a lot of money because he had no stop in the market. It’s quite important in financial spread betting really to understand the risks.

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