I learned to trade from getting into Bitcoin I have never had to think about lot sizes, tick sizes, tick values. With crypto, there are units of crypto, which have Bid and Ask orders at certain prices, usually within 0.00x% of each other…spreads I now get…the spread is basically the brokers premium over the spot price of the underlying asset with whatever market they are using
…this is my first attempt at looking at cfd brokers but what can I say…whatever reports their are about the shenanigans that they like to pull, FXCM, their platform I understand. When I make a trade on their demo platform. I know how much I am selling, how much I am risking, how much margin I am using, how much I stand to make. i.e. all the things I really need to know about when making a trade. On ETX, the trade ticket tells me I am making a trade for 1 GBP or 2 GBP and what this GBP means (not pounds sterling, that is for sure), I have absolutely no idea. No where on their platform, do they explain what ‘lot sizes’ are for particular assets…or if this is explained, it certainly isn’t explained under the ‘Market Info’ tab you pointed out above…the information just isn’t there m8…perhaps certain elements of the platform (such as the ability to Set Limit Entry Orders) just aren’t functional with a demo account? Perhaps that I is why I aint getting a lot of what you are telling me? With a demo account, neither the information or the functionality is there?
I persevere with ETX because I can well imagine the antics that the likes of FXCM and most of the other bucket shop cfd’s get up to…seen enough of that in crypto.
P.S. I hear you regarding the KNOWING of where a particular asset might be heading, but a trader has to have some degree of confidence in what the charts are telling him, otherwise he may as well not bother and just hit the roulette wheel. One of the problems with TA however, is choosing the right time frame that best frames the trade. Usually it is conflicting signals on the HTF charts that will invalidate any signals on LTFs…well that gold chart is based on Monthly candles and in my view, it couldn’t be more clearer…doesn’t guarantee that I will be right, but it is the closest thing to a guarantee that technical analysis can give u.