I have been exploring trading for a few weeks and now I want to put in the work to find out how to do it properly.
I have been gambling and making small profits for quite a few years and I am hoping that my experience in sports betting will help with trading.
I have been using a demo account and the company has already given me an account manager who actually thinks that he can convince me to deposit cash. Poor guy. I keep on telling him it will be months before I do but he has targets to hit.
Found this site through recommendations on Reddit and I can already see why it is so well respected. I have worked through the preschool training and I am moving on to kindergarten with dreams of graduating fully one day. I might even be able to make posts on the forum that make sense but until then I will be reading what everyone else has to say.
This rings an alarm with me. Any half-decent regulated broker would provide a demo account without you being pestered to open a live account. Use IC markets standard account instead - they are reliable. I trade with them and Pepperstone on live accounts.
And when you’ve finished playing around, start off small because live trading is a whole new ballgame, where you will make mistakes and lose some trades as does every trader on the planet.
IMO, and it’s only my opinion, it’s damn difficult to trade with less than $500 (or £500) as you will need a cushion when some consecutive trades turn out to be losers.
Thanks for the advice. I am not that worried about the account manager and I can understand why a company would do it and to be fair it is a very soft sell disguised as customer service. If I felt they were being pushy in any way I would be screaming it from the rooftops.
I totally agree that starting small and working your way up is the only way to be successful in any form of gambling. Having done it before I am in a fortunate position of having a bankroll that will allow me to commit a small percentage that should be enough to trade.
However, putting that together has taken many years and many, many dumb mistakes along the way and I have no doubt there will be plenty more. Only today I made a great trade and as I watched the market move my way I realised I had sold instead of bought. Oh well, that’s why we start with demo accounts.