Tuned up engine ready to start.

alanbeale2001

Junior member
30 1
Ths post cover a few subjects , but since i will be trading the indices ......

Firstly a great big thankyou goes out to everyone here and especially to Naz, JPWone and Chartman.

Your regular posts and your strats have been brilliant.

Have been fantasy trading with tradindex and have tripped over everywhere you said i would. Went back to your mentoring and started again.

Opened a penny/point account with finspreads two weeks ago and have traded the dow and a little ftse with some good results working only with free data. Would be interested to know of any peeny/point companies outthere i could switch to when my eight week trial ends.

Thank you to JPWone for his message and on your advice have signed up with www.advfn.com for live data. I think they offer everything i need for £ 11.75 per month.?

Just returned from computer fair with used 17" dell monitor (£30) and used pci graphics card(£3.50) setup with twin screens now. I will post in techies with details of fairs and low cost setups today.

Have placed £ 300 in my account with fins and will start trading tommorrow at about 10p per point trying out your styles.

Does anyone know why i cant set stoplosses or place orders with fins?

Will post my charts and mark my entries and exits for the newbies to see and the oldhats to comment on each day.

Thankyou again to everyone here.

Alan.
 

chump

Senior member
2,212 274
Alan,
Re your question "no stoplosses are allowed", the simple fact is that at 1p per point your risk is too small to require any.
 

alanbeale2001

Junior member
30 1
Sorry.

chump said:
Alan,
Re your question "no stoplosses are allowed", the simple fact is that at 1p per point your risk is too small to require any.

Sorry.

Im trading at 10p per point while i gain some confidence in my style.

With the greatest respect if i cant trade at 10p and place stops i cant test my methology.
Which as all the guys in here say take the stops cover your loses and move on.

"Small steps safe journey"

Thanks

Alan
 

chump

Senior member
2,212 274
You misunderstand,you have trialled for an 8 week period with the ability to trade at 1p per point.At this scale if MSFT went to nil you would lose £20+. Finspreads have evaluated this risk level with the trial period criteria and deemed it unnecessary to allow the use of stop losses. The fact that you wish to trade at 10p per point in that trial period is immaterial.It's a policy matter and as such you may decide it is not going to avail you of the experience you are trying to get in that this denies you the ability to also trial your use of stop losses. If so, try something else.
 

alanbeale2001

Junior member
30 1
Thankyou.

Thankyou its fins not my use of the software!

I take your point on board

Will use mental stops for now.

Im sure 10p per point seems trivial to some but im sure many would laugh if i experimented with £1 per point.

Thanks.

Alan
 

jpwone

Well-known member
254 3
Hi Alan,

Fins minimum stake for a trade for which a stop can be placed is 50p. Difficult though it is to do mentally whilst trading with 'test' stakes you will have to manually close the positions if your stop price is hit. A major problem with small stakes is it is very easy to get into bad habits eg. 'I'll give it another five points. Its only another 50 pence'. Try to remind yourself all the time that the purpose of low stake trading is to practise and reinforce the methods and techniques you will use with larger stakes. It is a test both of yourself and your method.

HTH
 
 
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