Rbs cfd

[Hilary Hughes]

Hi folks,

Just thought I'd say hello and add that I've set up an account with The Royal Bank of Scotland for CFD. I'm on the Demo account until Tuesday and am now showing a small profit! As well as having downloaded and read all their help pages, is there anything else I should know being a complete newbie to CFD?

Thank you,

Hilary.

 

[anley]

Yes, don't trade real money for at least 3 months.

Plus, make sure you know the platform inside out. It's hard enough to make money as it is withouth losing because you entered the wrong share or bought when should have sold etc.

This is a very serious game Hilary so be smart and take your time. Plus, when you do start trading take on small positions to start with. In fact, you might be better off trading shares at 50p a point via spread bets.

Good luck!

 

[Hilary Hughes]

Thanks Ansley,

I actually thought about doing very small amounts to start with although I realise it's going to need a greater shift to make that pay! One thing about the RBS is that they say you can't lose more than is held in your account ( min £500 ) although, this is a special account for beginners so I think it has more restrictions than the other one.

I'm also not sure if they would let me extend the Demo account anyway, as its is officially for a week only. Having said that, I know what you mean about knowing the software inside out and pressing the wrong buttons - I've done that once or twice already but hope I've learned from it.
Clearing the screen completely except for the UK100indices graph, ticket box and news helps me.

Hilary.

 

[anley]

H

When starting out you should be risking between £10-£50 a trade and with CFDs if you try to do that chances are commissions will eat into any profits and just add to losses.

Basically CFDs are no real place to learn speculation. Try spread bets first is my advice and then if you get on OK move into CFDs.

 

[Hilary Hughes]

Thanks - I'll check out the prices again although I'm sure they didn't seem too bad when we spoke about it briefly on telephone.

Hilary.

 

[Hilary Hughes]

H

When starting out you should be risking between £10-£50 a trade and with CFDs if you try to do that chances are commissions will eat into any profits and just add to losses.

Basically CFDs are no real place to learn speculation. Try spread bets first is my advice and then if you get on OK move into CFDs.

Yep! That's what I've decided to do - still with RBS. Am still ploughing through all the info' although most of it pretty much as CFD so shall sign up on Tuesday and start trading properly!

Hilary.