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I've been playing about with a practice account, just wondering if anyone has any hints and tips or experiences they'd be willing to spare, thinking of sticking in a hundred quid or so and seeing how quick i can waste it! 😀
Make sure you set your stop loss floor and your gain ceiling within your means and be prepared to lose the lot.
Playing with the account is good to learn the software but it's totally different when you've got actual money riding on a position. Good luck.
Aye kinda guessed that, bit like playing practice poker i suppose. Learned the actual mechanics of placing a trade stop loss and all, really more into trying to see if i can pick out trends and run with them at the moment.
What is the best site for trading shares with live prices? I've been using the share centre for a few years but they cost me a mint and have a 15 min delay.
forex is the most easy, risky, and profitable trade. I like it.
I been playing around on www.tradefair.com for ages with demo money, win some lose some, i think i'd struggle with the risk using my own money.
I actually got bored with the play money, seemed quite easy to make money on a demo account. so decided to put in some real money for a laugh, spunked 250 quid, then binned it! d'oh 😀 It's gambling.
Somehow demo money =win, real 1000 = gone real fast!
So what sites are you lot using to play?
I accidentally made a bit of money on oanda.com - I was hedging a currency transaction and closed the position rather fortuitously then did a bit of trading before returning to original sensible intentions about 50% up.
It piqued my interest and I did read a few large technical tomes and like nothing more than a nice maths textbook... However that's hardly as important as being kind of level headed and not panicking or being greedy.
Oanda is v easy to use, fair, better interest rates than banks.
Although I have a bit of a moral dilemma - what good is pissing around on the margins of currency transactions doing the world? It is kind of fiddling while Rome (in the wake of Athens) burns.
Clover - Member
what good is pissing around on the margins of currency transactions doing the world? It is kind of fiddling while Rome (in the wake of Athens) burns.
And all they all do is force the price of everything higher as we all have to protect ourselves with an extra margin to hedge against bloody currency traders.
I've traded currency for years, but with the problem that i always have to return to my base currency which is sterling, a notoriously fickle and weak currency with which to deal. To do it successfully you kind of need to use something safe, like the USD which is where everyone runs to when things get stupid, or be fluid enough to move about, tbh doing it small time chasing pips, without the benefit of trading intel, is very risky.
Isn't this just basically gambling on a zero sum game?