silverpuma
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Hi, I have went through the igindex training Tradesense and with a initial £350 after 8 trades both long and short I have made the tidy sum of £14
These trades where really to see how the platform worked and as an introduction to SB for me. With IG I could trade in points=0.20p, then ).50 and finally 0.70p so it was a good place to practice.
Now to my question. This is probably old hat to most of you but is this a reasonable way to trade the footsie 100 or say Rio Tinto (because of its large price movements).
1. Say the FTSE is sitting at 4500 and I don't have a clear sense what the markets doing.
2. Is it a fair strategy to, for example, place 2 orders: one to buy the FTSE if it moves up to 4550 and the other open to order sell if the FTSE falls to 4450.
3. This way I'm covering am significant market moves. Of course I'm not getting in at the bottom or top of a move but I'm catching it perhaps midway and can set a stop to get out with a small profit......if all works out ok
I don't know any of the technical terms for this except I think this may be momentum trading??? Any advice or correction would be great and well received...........thanks
Now to my question. This is probably old hat to most of you but is this a reasonable way to trade the footsie 100 or say Rio Tinto (because of its large price movements).
1. Say the FTSE is sitting at 4500 and I don't have a clear sense what the markets doing.
2. Is it a fair strategy to, for example, place 2 orders: one to buy the FTSE if it moves up to 4550 and the other open to order sell if the FTSE falls to 4450.
3. This way I'm covering am significant market moves. Of course I'm not getting in at the bottom or top of a move but I'm catching it perhaps midway and can set a stop to get out with a small profit......if all works out ok
I don't know any of the technical terms for this except I think this may be momentum trading??? Any advice or correction would be great and well received...........thanks