Tips/Advice, Using +500

Garside85

Newbie
4 0
Hey, guys.

I've just started using the plus 500 app to become acquainted with trading, and I'm practicing using their 'virtual money' demo of £20,000. What are the best markets/stocks ect to trade on? I've just lost £800 on BitCoin, lol.
 

yellowfloyd

Active member
109 2
Hey, guys.

I've just started using the plus 500 app to become acquainted with trading, and I'm practicing using their 'virtual money' demo of £20,000. What are the best markets/stocks ect to trade on? I've just lost £800 on BitCoin, lol.

Stick to FTSE 100 to begin with , or go small with some speculative FTSE 250..

Bitcoin etc is super speculative and you can make or lose a hell of a lot of money.
 

timsk

Legendary member
7,473 2,231
I've just started using the plus 500 app to become acquainted with trading, and I'm practicing using their 'virtual money' demo of £20,000. What are the best markets/stocks ect to trade on? I've just lost £800 on BitCoin, lol.
Hi Garside85,
Welcome to T2W.

I believe Plus 500 only offer CFD's as a trading vehicle which are a sophisticated derivative product and far from ideal for a novice trader to cut their teeth on. I don't wish to sound unkind, but it's probably a good thing you've lost £800 rather than made it, otherwise you'd be tempted to deposit real money and start live trading long before you're ready.

Plus 500 are brilliant at making a lot of money. Unfortunately, not for their customers - but out of their customers! I suggest finding a broker that offers tighter spreads and operates a business model that complements your objectives. I know very little about Bitcoin, other than it's the latest fad to trade but, as yellowfloyd suggests, it's likely to be highly speculative. This means you might make a lot, but you're just as likely - much more likely some would say - to lose a lot. So, to recap, I suggest you change your broker, your trading vehicle and your market of choice. For more info' about how to go about doing all that, click on the second link in my signature.
Enjoy!
Tim.
 
 
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