Advice / info / clarifications on short term trading.

[Boon Trader]

Be careful about thinking what you would have made. We can all look at a chart and see millions on offer, but it's an illusion. If you could make 12K, then you could reasonably lose 12K as well.

If it seems to good to be true, that's because it is.

Day trading is particularly hard as trading costs tend to drown out your profits in the long run unless you are very good.

This is exactly why I joined the forum, it just *seemed* to easy, which made me think I was missing something...which I was, a lot

 

[Boon Trader]

Plus500 | Trading with Demo Money


With Shakone on that, costs are harder to overcome, simply as they are a larger proportion
of gross profit in day trading.

It sounds like perhaps I should wait until I have a bigger 'pot' before day trading so that my risk is reasonable and potential returns better able to accommodate running costs.

 

[timsk]

You bring up a question I just asked in another post re CFDs and Spread betting (I thought they were roughly the same thing). Can I ask you what I asked in the other post? What is your experience with using these?

Hi B T,
I've never had a CFD account, so I can't really comment on those. I've had various spread betting accounts and liked some more than others. But it's all just personal preference really. A lot of members have accounts with IG as they're the biggest firm in the business and pretty much invented modern day spread betting. Additionally, the 'old hands' on T2W often have accounts with ETX (who I use currently), following a successful competition / promotion they ran back in 2008.

I recommend that you understand the pros and cons of spread betting Vs CFDs and, once you've done that, decide which vehicle to opt for. At that point, you can start searching for a broker that meets your needs.
Tim.

 

[Babyblush]

I would like to add my view here that its not potentially the leverage mainly, but it is the lot size which we use which makes huge difference. Thus, always use the lot size which is in accordance with your capital money for efficient money management.

 

[bustech]

Love reading this thread so simple, but brillant.

 

[Solas0077]

Hindsight is one of the biggest enemies of traders,

 

[malaguti]

Hindsight is one of the biggest enemies of traders,

Oh I don't know, I've made fortunes in hindsight :cheesy: