The interest rate in the uk , is it good or bad for forex traders? or does it depend on if you buy or sell

hi everyone my alias is SKINWILL from wales uk, absolutely newbee to trading, my goal is to give myself 12 months trading on my demo account, before handing over any money ,it seems at the moment the most proffitable way is to get funded with a prop firm…i could be wrong cos of the many strict rules they have and will do any thing not to pay you out!!! and the 5% you have to meet each month (depending which program you are on) Any way i am passionate about off road motorcycling (gas gas 480 for those in the know) which is not cheap, i added up what i spent last year on maintenace it came to £2500…ouch but i am reading allot of books and doing the siving through the s,t on you tube but came across Jason graystone, and he teaches in a way that my slow brain understands…Check him out if you are a newbee

Afternoon SKINWILL and welcome.

I recommend you do the School of Pipsology before you start trading your demo account, it’ll give you all the basics you need to start trading. Once you’ve finished you can top up your knowledge on You Tube etc. Also, be careful for scammers offering for you to join there club and teach you how to make millions for a fee. You don’t need to pay a fee to learn to trade. Just plenty of time and hard work.

Learn Forex Trading at School of Pipsology -

1 Like

In regards to the interest rate increase in the UK. It could mean buy and it could mean sell it depends on hundreds of other factors, such as what’s happening in other countries’ economies, politics etc etc

Everything is linked so you need to keep your eyes on all news. The best thing to do is not to trade on big economic announcements as it can flip the market on its head quick. Better to sit back and let everything settle down first. After all the first rule of trading is risk management, if you’re not managing risk you are gambling rather than trading.

nice one ,good advise mate


Sounds like you’re on a sensible path, taking time to learn and practice on a demo account before diving into live trading. It’s true, getting funded by a prop firm can be beneficial, but as you pointed out, their rules can be strict, and meeting their profit targets can be challenging.

The idea of earning from trading to fund your passion for off-road motorcycling is exciting. Keep in mind that trading, like motorcycling, requires skill, discipline, and continuous learning. Your approach of reading books and finding reliable resources is excellent. Jason Graystone does indeed have a straightforward teaching style, and it’s great that you’re benefiting from it.

Just remember, even when you start trading live, it’s about consistent profits, not quick gains. Trading is a marathon, not a sprint. So take your time, learn, practice, and develop your unique trading strategy.

Best of luck with your journey into the world of trading, and keep enjoying those thrilling rides on your Gas Gas 480!