Going live with my trading......
Hi Aquaclear,
I haven't had time to read your posts in full but I would say it may be a big mistake starting with a grand when you've just left training school, unless a grand isn't much money to you.
See this post I posted earlier today: viewtopic.php?p=135086#p135086
You need to be aware that training mode doesn't fully simulate real trading. If you trade £100 in training mode and the price goes beyond your trade, that £100 will be matched when on the real exchange only £2 was matched; so you could be fooled into thinking you would have won fifty times more than reality. It also doesn't prepare you for the emotional side of trading.
Unlike gambling, when you know how much you're risking, trading involves risks that have to be estimated, because you never know how far or how quickly the market can go against you. Even the most experienced traders will sometimes expose themselves to more risk than intended, but this is where inexperienced traders lose big time!
We've all seen horses backed from 10.0 to 3.5, but it's only when you've been on the wrong end of such a trade that you start to learn to limit your potential exposer and choosing the optimum stake for potential reward against liability. Also, when you are in a disastrous position, managing the problem is something we all do wrong when we lack the experience of trading, and lose even more.
You will suffer bigger losses than expected when you start trading, so why not use a small bank until you've built up you confidence and make a steady profit?
I haven't had time to read your posts in full but I would say it may be a big mistake starting with a grand when you've just left training school, unless a grand isn't much money to you.
See this post I posted earlier today: viewtopic.php?p=135086#p135086
You need to be aware that training mode doesn't fully simulate real trading. If you trade £100 in training mode and the price goes beyond your trade, that £100 will be matched when on the real exchange only £2 was matched; so you could be fooled into thinking you would have won fifty times more than reality. It also doesn't prepare you for the emotional side of trading.
Unlike gambling, when you know how much you're risking, trading involves risks that have to be estimated, because you never know how far or how quickly the market can go against you. Even the most experienced traders will sometimes expose themselves to more risk than intended, but this is where inexperienced traders lose big time!
We've all seen horses backed from 10.0 to 3.5, but it's only when you've been on the wrong end of such a trade that you start to learn to limit your potential exposer and choosing the optimum stake for potential reward against liability. Also, when you are in a disastrous position, managing the problem is something we all do wrong when we lack the experience of trading, and lose even more.
You will suffer bigger losses than expected when you start trading, so why not use a small bank until you've built up you confidence and make a steady profit?