Risk Consultant

benjaminweller · Jun 1, 2008

Hi. Newbie looking for advice.

Hi, I'm a newbie looking to learn about trading, but I know pretty much next to nothing. So was wondering if people could point me in the right direction.

I want to find an online trading platform that will allow me to

a) set up a phantom portfolio to learn/practice trading UK equities and commodities.
b) Once more confident, set up a real account that has the same user interface as the practice account/portfolio.

Any recommendations greatly appreciated!!!

Ben

Rhody Trader · Jun 2, 2008

Out of curiousity, what do your questions have to do with the title of the thread?

benjaminweller · Jun 2, 2008

Rhody Trader said:
Out of curiousity, what do your questions have to do with the title of the thread?

Hi. I'm Ben's flatmate logged in as him! I'm still trying to teach Ben about internet forums, and the wealth of info therein. He didn't quite get the whole idea of them, and thought that if he put his job title then people might be more inclined to respond.

Obviously this isn't the case!

Lee Shepherd · Jun 2, 2008

benjaminweller said:
Hi. I'm Ben's flatmate logged in as him! I'm still trying to teach Ben about internet forums, and the wealth of info therein. He didn't quite get the whole idea of them, and thought that if he put his job title then people might be more inclined to respond.

Obviously this isn't the case!

What are you doing with his password?

shadowninja · Jun 2, 2008

"Remember password.", Lee.

Try tradindex.com for a demo account. Wouldn't use them for live. Prefer IG Index.

Benhart33 · Jun 2, 2008

Ok, I'm logged in as me now! That 'remember password' function can be trouble.

As for the trading, we've had a look around the site and learnt a bit about the different types of trading. We have both signed up for demo accounts on Bullbearings just to get a feel of things.

My first question would be regarding spread betting on an exchange. I placed a bet on the FTSE 250 for it to go up. When I went to check the bet, the market had gone down, and i'd lost money. I thought I'd put the bet on for a day, but when I tied to check it this afternoon, my fake portfolio said I had no open bets.

I thought that it would be left open for a day, so that if the market changed in my favour it would cancel out the original loss.

Why did this not happen? Is a spread bet just on a moment in time, or should it have counted for the whole day?

As you can see, we're pretty new to this!

Jaydee · Jun 3, 2008

Benhart33 said:
Ok, I'm logged in as me now! That 'remember password' function can be trouble.

As for the trading, we've had a look around the site and learnt a bit about the different types of trading. We have both signed up for demo accounts on Bullbearings just to get a feel of things.

My first question would be regarding spread betting on an exchange. I placed a bet on the FTSE 250 for it to go up. When I went to check the bet, the market had gone down, and i'd lost money. I thought I'd put the bet on for a day, but when I tied to check it this afternoon, my fake portfolio said I had no open bets.

I thought that it would be left open for a day, so that if the market changed in my favour it would cancel out the original loss.

Why did this not happen? Is a spread bet just on a moment in time, or should it have counted for the whole day?

As you can see, we're pretty new to this!

Ben, sounds like you got stopped out. A trade will run until: you stop out, you hit your target (limit order), the contract expires or you get a margin call which you don't meet (the spreadbet firm will close the position for you). If none of these events occur, then you should still be in the trade.

JD

Risk Consultant

benjaminweller

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Rhody Trader

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benjaminweller

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Lee Shepherd

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shadowninja

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Benhart33

Newbie

Jaydee

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