Been reading about trading and I don't think I will fully understand it unless I give it a go. So I have a few questions.
1. whats the minimum bank you would recommend to practice with
2. How easy is it when you start out
3. Do you need to know the market or just watch the trends.
Thanks
Should I have a go or not ?
Start with very low expectations and build out from there. Have a read of the 'does scalping work anymore' thread and that will help you on your initial path.
Set aside some money that you can afford to lose and then go out and lose it! Just practice with the minimum stakes to get a feel for the market. Unfortunatly there are some tactics that just wont work with such small stakes but it should give you a good grounding in how the market generally feels.
At first the market will appear completely random but with practice you should start to make some sense of it.
Set aside some money that you can afford to lose and then go out and lose it! Just practice with the minimum stakes to get a feel for the market. Unfortunatly there are some tactics that just wont work with such small stakes but it should give you a good grounding in how the market generally feels.
At first the market will appear completely random but with practice you should start to make some sense of it.
I can only endorse what BetAngel said in the response. I too am a newbie, with a month under my belt, and thought the market was completely random at first. But if you follow the graphs and especially the weight of money, you can get some significant clues into what MIGHT happen.
And if you are new to betting trading, the best advice I can give you is to get out of the market with a minute to go to start with. NEVER be tempted to let a situation go in play when you are still looking to close out. You might fluke the odd one but you will never win in the long run. Trading before and in-play are two entirely different animals. I have learned to my cost to avoid the latter.
And if you are new to betting trading, the best advice I can give you is to get out of the market with a minute to go to start with. NEVER be tempted to let a situation go in play when you are still looking to close out. You might fluke the odd one but you will never win in the long run. Trading before and in-play are two entirely different animals. I have learned to my cost to avoid the latter.
Very first time I tried trading (only a week ago actually) I did the In-Play and got taken to the cleaners, losing $200 in short order. The In-Play is definitely a mine-field for beginners alright.
You may have read that you can't lose too much money trading because you can simply 'close out' if the market goes against you, unfortunately I learned the hard way the reality is somewhat different - occasionally the price In-Play simply jumps too fast for the trade to be closed in time, and you can lose the entire amount.
You may have read that you can't lose too much money trading because you can simply 'close out' if the market goes against you, unfortunately I learned the hard way the reality is somewhat different - occasionally the price In-Play simply jumps too fast for the trade to be closed in time, and you can lose the entire amount.