currecy trading newbie

[greencar]

hi ALL

I had spread betting with capital spreads for 4 wks now.
I have found the currency trading move very fast, that what I want.

my sim acc r up 55%.(is this good or r they just let u win, before they take the real money ?)

I want to open an acc of £20000 with them, is that enough to start of with ?


on my 1st 2 post some of the chart members advice me I can't get it to show currency.

can some please direct me to a good real time chart site ?

I have a p4 3GHZ, with 2 screen running on a AGP card & a 1meg broadband. Is this hardware setup enough ?

any advice please before I put my money in...

thanks

 

[adrianallen99]

Before you invest real money. make sure you do some research on money management. 55% in 4 weeks is great, but how much did you risk each trade.

£20,000 is easily enough, but why start with so much. You could start with £1000 and see how you do first of all.

Don't rush to put your money in - Although it is quite easy to make money, it is even easier to lose it.

 

[greencar]

thank adrianallen99

my trades are £20 a point.
I do about 5 to 10 trade a day. if I'm up £400 or down £300 a day. I am out.

the most gain was yesterday, I guest it was exceptional.

with regarding to charting I need a better chart that yahoo is giving a the monent..

Is there a sec to sec buy/sell bar currency chart out there ?

 

[adrianallen99]

You could check out FXCM, just open a demo account, they have some free tick charts.

 

[adrianallen99]

If you do it for real, best to start with the minimum £1 a point, until your really sure your strategy works.

 

[SML]

sec 2 sec currency chart

http://www.learntrading.co.uk/customer/home.php

 

[SML]

ops first post. Try - http://www.learntrading.co.uk/customer/home.php

 

[panda]

Hi, i have been playing with the visual trader ( demo platform ) as mentioned by SML above.
I am very new to this but it does do an awful lot for you. Give it a go

 

[Roberto]

4 weeks isn't long enough to practice on a demo account.

They certainly don't "let you win" on the demo hoping that you'll lose later. It makes no difference to them if you win or lose later, they make their profit from the spread, which is paid by winners and losers.

Some advice: there's a very good thread here called "Capital Spreads" in which their managing director answers questions and explains lots of things about the company, you should probably read it all before you start using real money.

If you're spread-betting with £20 per point, I think £20,000 is the absolute minimum you need in your account. Personally, for forex trades, I'd be doing about £10 per point with £20,000 capital.

(Regarding the well-made suggestion above about FXCM, of opening a demo account to get access to their tick-charts, these charts may indeed be great and well worth having, but it's also perhaps worth mentioning that their spreads are generally higher than those at Capital Spreads and that profits from FXCM trades are also taxable. Personally, I use them to _trade_ only if I have a burning desire to trade when Capital Spreads are closed.)