Fox's noobie journey

[Liquid validity]

I made £22.48 today.

Its not that much, but I'm only trading with a £50.00 account so have almost doubled my account balance in the last 3 days of trading, with £46.40 made.

I intend to use compounding if I can keep this consistency going, I will also have to look at my base capital in the long term as I'm still on IG index learning programme my price per point went to a minimum of 0.50p today and will go to normal price in a few weeks, so will use that time to evaluate my progress before I inject any more cash.

IG's standard minimum per point GBP:
Forex £0.50
FTSE £2
DAX £2 (german index)
CAC £2 (french index)
DOW £1
S&P £10

Be careful of jumping up to £2pp straight away.
Also be wary of the DOW - entry seems low but it can be volatile and move a hell of a lot in one day...

I believe finspreads have a minimum of £0.10pp although that is just from memory.
Take your time and don't rush - no shortcuts

 

[Foxwales]

IG's standard minimum per point GBP:
Forex £0.50
FTSE £2
DAX £2 (german index)
CAC £2 (french index)
DOW £1
S&P £10

Be careful of jumping up to £2pp straight away.
Also be wary of the DOW - entry seems low but it can be volatile and move a hell of a lot in one day...

I believe finspreads have a minimum of £0.10pp although that is just from memory.
Take your time and don't rush - no shortcuts

Cheers Liquid, I initially lost quite a bit on the Dow!

The margin requirement for £2pp will mean I will need to up my capital quite considerably so will need to assess how I'm doing when I get the maximum price per point.

Have looked into finspreads who offer 0.10pp for the first 8 weeks, so I will probably switch to them to keep my noobie learning curve going.

 

[Foxwales]

Had a great day today, made a very nice £130.86!

I'm not letting it get to my head, I saw a great opportunity and took it and it paid off.

Had 4 days of trading with 100% profit and 0% losses. The laws of maths state I will have to lose at some point and I lost a bit starting out, but hopefully my future losses will be small.

 

[Foxwales]

Day 5 of my run of profits. Made £20.60 today.

All profits I'm making I'm taking out of the account and putting them into a savings account, when I have more banked I intend to increase my real share portfolio for my long term investment.

 

[advfntrader]

you have suffered what I did and most others do in the beginning. you were out of control....what was your % risk on all of you open trades ?? - probably 70% of your account or more. overleveraged

start small and try to build it back up slowly is the best way, the markets will always be there

 

[Foxwales]

I didn't have a capital % to risk strategy, I just went for stupid high price per point and let my losses run thinking they would correct. That's where I fell down.

I'm now very much in control and taking it small and steady and it's paying off so far.

 

[Foxwales]

Didn't make any money yesterday, The markets I usually trade on just didn't offer any good opportunities to open on.

I have a FTSE buy open at the moment waiting for that to reach what I think it's potential will be, but FTSE performance has been sluggish in it's gains this week.

Dipped into NYMEX last night when it hit $108 a barrel and have placed a short on the June future, I'm already in a small profit on this but am watching this closely to hopefully catch the Market on the way down if Saudi decide to increase production further to cover the Libyan deficit.

It jumped some 300 points in the space of 12 hours yesterday so any inch of news seems to be having a big impact. I have a good position at the moment and am watching for indications of further rises but it seems defiant on moving beyond 108 so will keep my eyes open for a long position.