Hello From a Trading Newbie

[Red_Stafford]

Hi all
I am new here and would like to say Hi, hopefully in the next 6/8 weeks I will be inheriting a large some of money and I would like some advise on the best way to invest this money, I would like to get into share trading but the whole thing scares me, is there really good money to be made by doing this knowadays ?

 

[ha0dho]

Hi all
I am new here and would like to say Hi, hopefully in the next 6/8 weeks I will be inheriting a large some of money and I would like some advise on the best way to invest this money,

Put it in the bank, then learn what u r doing dont just jump in striaght away

 

[Red_Stafford]

Put it in the bank, then learn what u r doing dont just jump in striaght away

I was thinking of setting up a demo account (which would you reccomend) for a few months first and then going for real as long as I know what I am doing by then, I would also only start small something like £2k - £4k and see how that went.

What market should I try a demo in I see the is FX, Day trading e.t.c.

 

[timsk]

Hi Red-Stafford,
Welcome to T2W!
Please read the first two links in my signature and then feel free to ask any questions.
Tim.

 

[Red_Stafford]

Hi Red-Stafford,
Welcome to T2W!
Please read the first two links in my signature and then feel free to ask any questions.
Tim.

Thanks, I will have a read

 

[shadowninja]

I was thinking of setting up a demo account (which would you reccomend) for a few months first and then going for real as long as I know what I am doing by then, I would also only start small something like £2k - £4k and see how that went.

What market should I try a demo in I see the is FX, Day trading e.t.c.

Pretty sensible. Figure out what the **** it's all about with a demo. Just remember that any time you make money on a demo, chances are it was a fluke. The moment you think you're a trading god and jump in with real money, be prepared to be raped. You don't even need £2k these days if you trade FX. £100 in an Alpari micro lot account should last for months while you're learning. It is a case of taking your time until you've got it nailed. Most people run out of cash before they get to the stage when they have a clue because they're impatient... the biggest battle is the fight against Red Stafford.

 

[Red_Stafford]

Pretty sensible. Figure out what the **** it's all about with a demo. Just remember that any time you make money on a demo, chances are it was a fluke. The moment you think you're a trading god and jump in with real money, be prepared to be raped. You don't even need £2k these days if you trade FX. £100 in an Alpari micro lot account should last for months while you're learning. It is a case of taking your time until you've got it nailed. Most people run out of cash before they get to the stage when they have a clue because they're impatient... the biggest battle is the fight against Red Stafford.

Cheers, what demo account would you guys reccomend and also if I wanted to trade FX and put £100 in who would I do this with ?

Whats a Alpari micro lot account ?

 

[shadowninja]

www.alpari.co.uk

Sign up for their demo account first. No need to lose money until you know what you're doing. And then you can lose money knowing what you're doing.

 

[Red_Stafford]

www.alpari.co.uk

Sign up for their demo account first. No need to lose money until you know what you're doing. And then you can lose money knowing what you're doing.

Cheers shadowninja I will have a play

Which one should I try

MetaTrader 4
MetaTrader 5
Systematic
Alpari Direct and Alpari Direct Pro.

 

[ha0dho]

Also have a look at FXCM open a demo, have ago at thier platform IMHO its the most user friendly.

With FXCM u can open a micro account when u are READY to trade for real.

 

[shadowninja]

MT4. Give them a call and tell them you're a noob and want to play with a basic demo. If they do the hard sell, then tell them goodbye (I'm sure they won't) and report it to us.