A dabble on the market

MrOrchard

I'm tempted into the world of Spead betting (IG Index et. al) but am fairly new to this, whilst I understand the principles and the markets to a degree, i'm not really clear about the charging structure in place.

Does anyone out there have any sage advice?

Thanks, Mr. O

Masomnia

Other than be very careful, no not really. Get a practice account first and see how you do.

gozomark

how much of your money are you prepared to lose ?

MrOrchard

Call it £1k for now, that's my test budget.

grey_gym_sock

first ask yourself: can i think of a more fun way to lose £1k?

MrOrchard

grey_gym_sock wrote: »

first ask yourself: can i think of a more fun way to lose £1k?

Ha, yes my wife would probably even approve of some of them, I'd like to try and make some gains as well though.

Nicholas-bloody-Parsons

grey_gym_sock wrote: »

first ask yourself: can i think of a more fun way to lose £1k?

Fast cars and loose women!

MrOrchard

Nicholas-bloody-Parsons wrote: »

Fast cars and loose women!

Things are cheaper where you live.

gadgetmind

I strongly recommend you use IG as I own shares in them and confidently expect to do better from this than you will.

gkerr4

these is no secret to their "charging" - there are no charges (as such!)

but the spread is large - this is where they make their money. so if a share price is 340/345 on a regular trading account - it'll be 338/347 on a spread - or something like that.

if you take guaranteed stops (and do take stops!) then you pay a little extra on the spread - you see how it works?

IG are really good actually - if you open an account they will call you in a few days to ask if you have any questions and they will take time to answer your q's

(not affiliated to IG - just a customer - i'm sure others do the same?)

gkerr4

oh also you can set your 'stops' as a maximum cash value, or a points lost basis - i prefer to set them in £'s rather than points for simplicity sake.