Online trading accounts

[longy]

Hi all,
Newbie here trying to get to grips with trading etc. This website seems to be the best I've found so far so I'd thought I'd ask for some advice.
It seems to me that most internet trading accounts dont let you short sell because of settlement dates I think. Does anyone know of any that do or an alternative method that doesnt require me to stump up alot of cash or invest in more kit? I'm looking to try to trade with about £1000 - £2000 over a relatively short term and I'm worried that I may buy shares that will fall past my stop loss target etc.

Any comments appreciated.

 

[bonsai]

longy
if your capital is £2000 max and you are new to trading then you
may be advised to use spreadbetters to short (or long).

£1 a point seems quite acceptable to all of them and a £1000
account should give you more than enough margin.

Contact them and get some literature and then decide for yourself.

Those who seem to be used a lot are
Deal4free
Finspreads
IG Index
and recently, CapitalSpreads.
there are others.

 

[longy]

thanks very much. I'll take a look at SB then. Only just come to grips with FA. Lot of learning to do.

 

[DaveGos]

longy

Stop losses have to be part of your trading methodology and accepted as such. If you get hung up on them you may find yourself cutting profits short to avoid them which is a sure way to fail in this business. One of the great false quotes is "Nobody ever went bust taking a profit" believe me if those profits are smaller than the losses then unless you have a really good win to loss ratio then sooner or later you will lose your capital.

 

[Uncle]

If you wish to trade real money Spread Betting then non better than Finspreads where you can trade for only a 1p per point for about 8 weeks, which should be then give you some idea whether it is for you without you losing all your capital.

 

[Salty Gibbon]

Agree Uncle. Fin Spreads also send you their training material for 8 weeks.

It is basic but for a beginner it is quite helpful.

Betting 1 pence a point is also much better than paper trading or trading with a virtual account.

At least you are trading for real which will give you a much better feel than the other alternatives.

 

[longy]

Thanks all. I am looking into SB and when I start I shall post my losses. LOL

 

[Salty Gibbon]

FinSpreads are generally ok but watch out because some SB companies are in fact SOB companies !