So what am I really up against?

[timsk]

I thought about kicking off with £5k, £2-£5 bets. My stop loss I've been using are 6 to 11, depending on what profit I think is in the trade.

Hi noeyedear,
If you've not traded real money before and don't know how your methodology will pan out in the live market, start with £500 trading at £0.50p - £1.00 and see how you get on. If you do well and it all goes according to plan, you can always add more funds and trade higher £s per point at a later date. In the meantime, the bulk of your capital is earning interest somewhere and if everything goes pair shaped - you won't lose a lot. I say this because, in the 10 years I've been on T2W, I've lost count of the number of members who have done exactly as you propose and end up regretting it. Don't become one of them!

Tim.

 

[barneydunn]

Hi noeyedear,
If you've not traded real money before and don't know how your methodology will pan out in the live market, start with £500 trading at £0.50p - £1.00 and see how you get on. If you do well and it all goes according to plan, you can always add more funds and trade higher £s per point at a later date. In the meantime, the bulk of your capital is earning interest somewhere and if everything goes pair shaped - you won't lose a lot. I say this because, in the 10 years I've been on T2W, I've lost count of the number of members who have done exactly as you propose and end up regretting it. Don't become one of them!

Tim.

I definitely agree with this.

Also look into calculating your position size based on the atr of the share. I keep my £ risk the same on every trade and use a 2 atr stop. I only alter this if there is a good support or resistance level that I can use. Then I calculate what position size I need to use to risk £x over 2 atr.