Last year I had a go at trading individual shares, nothing much happened I won some and lost some, but got fed up with it.
Last week I tried again, trading the FTSE 100, the first two trades were literally made just to see what would happen, I traded the FTSE100 - July at £1 / point, the first trade I lost £6, the next I lost £24.
After that I tried trading the FTSE 100 Daily Futures. The first three trades I made profits of £17.50, £5.20 and £9.50 in each case the prices swung quickly from profit to loss, I was tempted to cut my losses but decided to hang on......result,.....I thought a minor triumph.
The next three trades were made on my brothers computer which is not as good as mine, I was trying to show him what I was doing , he got bored and I ended up letting the trade run away from me and I lost £15.50. After that I tried again this time I gained £6.00.
Then I decided to push the boat out and regain my lost £15.50............I traded the market at £10.00 / point, at one stage I was down £80.00.......horror of horrors, I should have closed it down before it ever got that bad, but then to my relief it came back into profit.......I was up£10.00........when I lost the blasted connection, all the prices disappeared from the screen, by the time I got trough to the dealing room by telephone....I had lost £4.00
So to summarize........First two trades absolute step in the dark........LOST......£30
Next six trades Profit of £18.70......I think there is room for cautious optimism here, I intend to trade at £1.00 tomorrow Monday June 25th, I am going to try and be very strict and cut losses very severally.......although I fear that if I cut to soon I may mount up masses of small loses that cancel out profits.
If any of you guys out there have more experience than a complete novice like me, I hope you will point me in the right direction, looking forward to hearing from you.
Last week I tried again, trading the FTSE 100, the first two trades were literally made just to see what would happen, I traded the FTSE100 - July at £1 / point, the first trade I lost £6, the next I lost £24.
After that I tried trading the FTSE 100 Daily Futures. The first three trades I made profits of £17.50, £5.20 and £9.50 in each case the prices swung quickly from profit to loss, I was tempted to cut my losses but decided to hang on......result,.....I thought a minor triumph.
The next three trades were made on my brothers computer which is not as good as mine, I was trying to show him what I was doing , he got bored and I ended up letting the trade run away from me and I lost £15.50. After that I tried again this time I gained £6.00.
Then I decided to push the boat out and regain my lost £15.50............I traded the market at £10.00 / point, at one stage I was down £80.00.......horror of horrors, I should have closed it down before it ever got that bad, but then to my relief it came back into profit.......I was up£10.00........when I lost the blasted connection, all the prices disappeared from the screen, by the time I got trough to the dealing room by telephone....I had lost £4.00
So to summarize........First two trades absolute step in the dark........LOST......£30
Next six trades Profit of £18.70......I think there is room for cautious optimism here, I intend to trade at £1.00 tomorrow Monday June 25th, I am going to try and be very strict and cut losses very severally.......although I fear that if I cut to soon I may mount up masses of small loses that cancel out profits.
If any of you guys out there have more experience than a complete novice like me, I hope you will point me in the right direction, looking forward to hearing from you.
