Gr8 results, now what?

[Alexbabwa]

Hello all this is my first post. I have spent hours reading these forums trying to gather as much information on spread betting as i can. I apologise first of all if any of my questions are a nuissance, im sure you get them all the time.

I have been paper trading on the dow jones industrial average (INDU) and made consistent profits for 2 weeks. I feel i am now ready to start trading for real or at least with a practice account. As you have probably anticipated my question is who to begin with?

After reading many posts im getting more confused than ever. I was going to settle with capital but a thread i just read put me right off. Having said that a lot of threads are well out of date and i am hopefull much has changed since then.

So which SP company is most reliable?
Failing a justified answer, which SP company is most popular?

The only thing i am sure of at the minute is that finspreads is a definate no.

 

[gle101]

Hello all this is my first post. I have spent hours reading these forums trying to gather as much information on spread betting as i can. I apologise first of all if any of my questions are a nuissance, im sure you get them all the time.

I have been paper trading on the dow jones industrial average (INDU) and made consistent profits for 2 weeks. I feel i am now ready to start trading for real or at least with a practice account. As you have probably anticipated my question is who to begin with?

After reading many posts im getting more confused than ever. I was going to settle with capital but a thread i just read put me right off. Having said that a lot of threads are well out of date and i am hopefull much has changed since then.

So which SP company is most reliable?
Failing a justified answer, which SP company is most popular?

The only thing i am sure of at the minute is that finspreads is a definate no.

I would go with Dealingdesk, 2 point spread on the Dow. One of the fastest platforms around and very low account deposit. They have a user predefine stop loss, very important, especially if you are a newbie. As you probably already know, paper trading is just to get to know the platform, nothing else. Real trading is another issue altogether.

Good luck!

 

[Alexbabwa]

Can you trade the dow jones industrial with dealing desk? Which category would it be under? binary markets?

I am confused that they offer their own real time charts, but it is not the same as the real world... I would appreciate any help as im pulling my hair out trying to figure out the best way to get set up.

Should i invest more money in a real time accurate chart?
or just use their made up chart based on prices they quote?

 

[gle101]

Can you trade the dow jones industrial with dealing desk? Which category would it be under? binary markets?

I am confused that they offer their own real time charts, but it is not the same as the real world... I would appreciate any help as im pulling my hair out trying to figure out the best way to get set up.

Should i invest more money in a real time accurate chart?
or just use their made up chart based on prices they quote?

Yes, you can trade the indices at Dealingdesk. The name of the Dow is Wall street rolling daily, 2 point spread. Get a demo account with DD and check it out. Sign up for a free demo account at some of of the Metatrader 4 brokers. You can use their chart for the Dow future (YM) as a guideline when you are trading the Wall street rolling daily. Have a look at Broco Trader or FXpro.

 

[Alexbabwa]

Thank you very much gle, i have found your advice helpful. I have spoke to the customer service people and had them explain some of the details to me clearly. It would seem that i would not be better off using a real time chart somewhere else (on a live account) as their quotes are not really based on the underlying market, but instead futures or something :S.

I have since been looking in to shortandlongs.com after seeing their advert on the TV. Looks amazing, definately want to try them. They even base their prices on the underlying market. Unfortunately they do not offer any charting service, so now i am left clueless once more as to where the best real time charting software (or web based) can be found. I am a beginer so i am not looking for some expensive chart with loads of indicators. Just an accurate real time chart, compatible with candle sticks and a few basic indicators like volume, moving average, stochastics etc.

If you could make a recommendation i would be forever grateful.

 

[gle101]

Thank you very much gle, i have found your advice helpful. I have spoke to the customer service people and had them explain some of the details to me clearly. It would seem that i would not be better off using a real time chart somewhere else (on a live account) as their quotes are not really based on the underlying market, but instead futures or something :S.

I have since been looking in to shortandlongs.com after seeing their advert on the TV. Looks amazing, definately want to try them. They even base their prices on the underlying market. Unfortunately they do not offer any charting service, so now i am left clueless once more as to where the best real time charting software (or web based) can be found. I am a beginer so i am not looking for some expensive chart with loads of indicators. Just an accurate real time chart, compatible with candle sticks and a few basic indicators like volume, moving average, stochastics etc.

If you could make a recommendation i would be forever grateful.

My recommendation is based on the futures, MT4 charts have indicators you are looking for. All SB base their quotes on the underlaying asset, even though the numbers is not excatly the same.

 

[TonyMitch]

I had the exact same problem, i found a website called Thespreadbettingguide.co.uk. It has a load of information about spread betting, i hope it helps!