Rustybarge
Guru
Hi All,
I'm retired in my late 50's, but I'm interested in making some investment income. Like everyone else I've experienced paying brokers to lose my money for me, and guess what it's never their fault and they always blame it on the markets!
So.....
I was watching program on the telly about spread betting on the markets; it's tax free, and you can place a bet of as little as£0.50pence on the stock exchanges from all around the world, set stop limits, instantly buy or sell using your PC or tablet.
I've just signed up to Spread Betting, CFD Trading and Forex | IG UK here in the Uk ; it's a virtual demo account which you get for free that gives you £10k in pretend money.
The plan:
To practice 'virtual' spread betting until I get the skill sets to make profit.
The markets:
I'm going to start on Forex: GBP/US dollar.
The strategy:
The London market starts to open at 6.00am (UK time)when bank place their first trades to make an artificial 'bounce' in the market before trading starts in earnest.
The Us market starts at about 9.00am (NY time) were the big boys kick start their 'bump'........
I am only going to trade these time slots as the rest of the time the market is chaotic in nature, and unless you've got a feed of inside information you don't have a chance of making profit.
Anyhow, if anyone would like to join me in my endeavour please feel free.
All advise gratefully received .
On my very first day trading: up 30 pips at Wall st opening.
PS: each pip or point can equal anything from 0.50p to £100 in virtual money.
Talk to you later at 6.00am uk time with second trades....
I must be crazy.
I'm retired in my late 50's, but I'm interested in making some investment income. Like everyone else I've experienced paying brokers to lose my money for me, and guess what it's never their fault and they always blame it on the markets!
So.....
I was watching program on the telly about spread betting on the markets; it's tax free, and you can place a bet of as little as£0.50pence on the stock exchanges from all around the world, set stop limits, instantly buy or sell using your PC or tablet.
I've just signed up to Spread Betting, CFD Trading and Forex | IG UK here in the Uk ; it's a virtual demo account which you get for free that gives you £10k in pretend money.
The plan:
To practice 'virtual' spread betting until I get the skill sets to make profit.
The markets:
I'm going to start on Forex: GBP/US dollar.
The strategy:
The London market starts to open at 6.00am (UK time)when bank place their first trades to make an artificial 'bounce' in the market before trading starts in earnest.
The Us market starts at about 9.00am (NY time) were the big boys kick start their 'bump'........
I am only going to trade these time slots as the rest of the time the market is chaotic in nature, and unless you've got a feed of inside information you don't have a chance of making profit.
Anyhow, if anyone would like to join me in my endeavour please feel free.
All advise gratefully received .
On my very first day trading: up 30 pips at Wall st opening.
PS: each pip or point can equal anything from 0.50p to £100 in virtual money.
Talk to you later at 6.00am uk time with second trades....
I must be crazy.
Last edited: