Thanks for the guidance @Justin Passing , I appreciate the time you’ve taken to write it out.
I think that you highlight the concern that I (and probably others) have is that when you start out it is your real savings and if you lose that bit (before you’ve cleared a decent profit to the trade fear free with) then it’s game over. And you’re using your actual savings when your least experience!
I have been playing with T212 fake money, starting with 5k in the Invest fund and £50k in the CFD.
I’m marginally up across the portfolio but would have been better if I’d not lost £3k on some energy stock that was just trending down and down.
I cant work out how/if you can short on T212, and I think I was setting the stop loss too short as I trigged a few loses within minutes of placing order only for the stock to bounce back later.
Most of my picks weren’t scientific, sometimes from alerts the app was sending me or looking at the top movers in the day. So gains were more luck than judgement, but I was doing what you mentioned previously about looking at the channel/trends and avoiding anything on a general downward trend.
I think my main issue is that I don’t have time to watch the prices or listen to the investor news channels (as I run my own business). I do like the idea of dabbling though and what you’ve suggested in your last post about doing something like that in the evening just watching the rises and falls is sensible given the time available.
I’ve got about 5k in crypto as I stuck about a grand in when bitcoin and doge coin were at their lowest…so I guess that could be considered my risk free gambling pot.
Thanks for the pointer on eTorro too, I’ll give it a try.
I think that you highlight the concern that I (and probably others) have is that when you start out it is your real savings and if you lose that bit (before you’ve cleared a decent profit to the trade fear free with) then it’s game over. And you’re using your actual savings when your least experience!
I have been playing with T212 fake money, starting with 5k in the Invest fund and £50k in the CFD.
I’m marginally up across the portfolio but would have been better if I’d not lost £3k on some energy stock that was just trending down and down.
I cant work out how/if you can short on T212, and I think I was setting the stop loss too short as I trigged a few loses within minutes of placing order only for the stock to bounce back later.
Most of my picks weren’t scientific, sometimes from alerts the app was sending me or looking at the top movers in the day. So gains were more luck than judgement, but I was doing what you mentioned previously about looking at the channel/trends and avoiding anything on a general downward trend.
I think my main issue is that I don’t have time to watch the prices or listen to the investor news channels (as I run my own business). I do like the idea of dabbling though and what you’ve suggested in your last post about doing something like that in the evening just watching the rises and falls is sensible given the time available.
I’ve got about 5k in crypto as I stuck about a grand in when bitcoin and doge coin were at their lowest…so I guess that could be considered my risk free gambling pot.
Thanks for the pointer on eTorro too, I’ll give it a try.
