gamma
Experienced member
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graemenash
Active member
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Set up my account on Monday and have the silly aim of turning it into £100k! Blogging my progress at One hundred to one hundred grand!! (Apologies to T2W if the link's not allowed... it's not a commercial site though).
Small word of warning, my brother also has an account and on two occasions after he's exited a winning trade the stop attached to it hasn't been cancelled, and later when that level was hit he found himself in a trade he didn't want to be in...
Small word of warning, my brother also has an account and on two occasions after he's exited a winning trade the stop attached to it hasn't been cancelled, and later when that level was hit he found himself in a trade he didn't want to be in...
montmorencyt2w
Senior member
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I'm interested in this thead as I am trying to do something similar with another SB firm (I think the offer is now closed so I won't mention it here), although I have also put some of my own money in). Like you I am regarding this as a sort of demo account, and am trying to use it to learn more about trading. I don't know about a hundred grand, but obviously I would like to make a bit of money out of it.
So far I have managed to lose a fair chunk of my own money a couple of times, and managed to recoup it all, plus a bit, and am currently "up", but it's quite tough - seemingly two steps forward and one back, and sometimes more.
In another thread people are talking about trying to trade while undercapitalised and I think I am aware of the risks, but I think if you go into it with eyes wide open and aware of the risks, then maybe you have a chance. If you do come out of it at the other end in good shape, then hopefully it will make you a better trader. It should help teach patience if nothing else.
In any case I think it's better to try things like this out for yourself, rather than take other people's word for it that it will never work. Apart from your time, what have you to lose? Cheaper doing it this way than starting with a 10k account and blowing that.
I have not had any "funny business" so far with this SB firm. I am thinking that every so often, if it builds up as I hope, I might add an equivalent amount from my own separate resources. This will partly be to make the account (even) more tradable, but also so the firm can see I am prepared to risk my own money as well, and not just totally take the Michael. Still, that might prove all too academic.
Ouch! I wonder how common that is with SB companies?
Yep very simple to open.
Opened an account just before 8 this evening and I see the min per point is 50p so its very tight to spin up £100 first trade has got to be a winner.
See how it goes
I phoned them up, ask for customer services but I think they close at 8pm
counter_violent
Legendary member
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They fund it 24 hrs after it's opened.
Probably allows time for any checks they may need to make.
Masquerade
Senior member
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Guilty!!! :cheesy: (they only let you do 160 pips though)
Don't forget you can open position then close some straight away to reduce position size.
EUR/USD
1.4738 Long
1.4718 stop
To tired market slow so nicked a pip lol +£0.50p
£100.50
montmorencyt2w
Senior member
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To tired market slow so nicked a pip lol +£0.50p
£100.50
They won't like it if you're a scalper
They won't like it if you're a scalper
just jumped back on a short 1.4739 but its going up so there getting it back at the mo.
STOP 1.4749
LONG 1.4739
LIMIT 1.4729
P/L +/- £5
just jumped back on a short 1.4739 but its going up so there getting it back at the mo.
STOP 1.4749
LONG 1.4739
LIMIT 1.4729
P/L +/- £5
Market not moving took a scratch 1.4739
Acc Bal. £100.50
Night guys good trader for Friday