Hello Everyone,
I'm new but not new... the following should elaborate a bit...
I've been interested in trading for about 3 years and have taught myself in that time (to some extent) about TA and generally how the markets work, I have occasionally traded (spread bet with IG) the FTSE100 and a few stocks I have in a watch list. I started with an account size of £500, from that I have made a bit and lost bit but the account is currently about £200 in profit. Generally the only times I've made good profits was on big announcement days, ECB, BOE and non-farm pay rolls etc.
I'm looking to trade the FTSE100 as a full time day trader, I have developed a plan and strategy which I am currently back-testing.
Are there any general pit-falls to looking out for when trading the FTSE100 on a daily basis? Or is day trading the FTSE100 just plain stupid?![Eek! :eek: :eek:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Any advice would be great and very much appreciated.
Thanks in advance.
Trendy Guy aka Tim![Thumbs up (y) (y)](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
I'm new but not new... the following should elaborate a bit...
I've been interested in trading for about 3 years and have taught myself in that time (to some extent) about TA and generally how the markets work, I have occasionally traded (spread bet with IG) the FTSE100 and a few stocks I have in a watch list. I started with an account size of £500, from that I have made a bit and lost bit but the account is currently about £200 in profit. Generally the only times I've made good profits was on big announcement days, ECB, BOE and non-farm pay rolls etc.
I'm looking to trade the FTSE100 as a full time day trader, I have developed a plan and strategy which I am currently back-testing.
Are there any general pit-falls to looking out for when trading the FTSE100 on a daily basis? Or is day trading the FTSE100 just plain stupid?
Any advice would be great and very much appreciated.
Thanks in advance.
Trendy Guy aka Tim