Complete newbie - will look back at this question in embarrassment I'm sure.

[Cowlinn]

I was just curious. Ftse is fine, it will be even better when you understand the rhythm of it and when to trade it and when not to trade it.

Do you have a strategy/method/system that you are currently trading?
Do you understand money management?
Do you have a trading Diary?

Yeah, I figured it's a good a market as any to trade.

- I am just riding waves at the moment. If it's dropping, I sell. If it's rising, I buy. I prefer to sell, though.

- In my life? Yes, very well. In Spread Betting? No, not really.

- Yes, I keep a spreadsheet of every penny I spend. Both real and demo.

 

[£80]

Yeah, I figured it's a good a market as any to trade.

- I am just riding waves at the moment. If it's dropping, I sell. If it's rising, I buy. I prefer to sell, though.

- In my life? Yes, very well. In Spread Betting? No, not really.

- Yes, I keep a spreadsheet of every penny I spend. Both real and demo.

In terms of preserving your capital I think the basic 2% rule is a good place to start.
I know for a lot of traders a spreadsheet is enough but for me I needed pictures as well. The pictures gave me an idea of what exactly was going on in the market when I took the trade. I usually go over my diary on a Sunday night to remind myself what I did wrong and what I did right.

this is what my diary looks like

 

[£80]

This is something you need as well,
a trading plan.

 

[Cowlinn]

In terms of preserving your capital I think the basic 2% rule is a good place to start.
I know for a lot of traders a spreadsheet is enough but for me I needed pictures as well. The pictures gave me an idea of what exactly was going on in the market when I took the trade. I usually go over my diary on a Sunday night to remind myself what I did wrong and what I did right.

this is what my diary looks like

How many trades will you entertain in one day?

For a day trader that seems like a LOT of record keeping.

 

[£80]

How many trades will you entertain in one day?

For a day trader that seems like a LOT of record keeping.

A few years ago I would enter about 4 trades a day. I have slowed down a lot since then, now I take maybe 2 to 4 a week.

 

[f2calv]

Can you recommend any brokers that allow £0.10 per point?

IG have a newbies introductory program whereby they cut the minimum stakes by 50% for the first few weeks, which might help?

https://www.ig.com/uk/introduction-programme

Maybe give them a quick call and ask to be put on that program??

 

[Cowlinn]

IG have a newbies introductory program whereby they cut the minimum stakes by 50% for the first few weeks, which might help?

https://www.ig.com/uk/introduction-programme

Maybe give them a quick call and ask to be put on that program??

Ah very interesting. That's for the first few weeks of your account. I've had my account for years.

You're right though, perhaps I could give them a bell.

Good spot!