New To Trading Start Here
If you are brand new to trading, the first thing you need are charts and access to market data so you can see the prices of popular trading markets like the GBPUSD, USDJPY, EURO, FTSE, DOW, DAX, Oil, Gold in realtime.
This is so you can get a feel for how everything works, how markets move and get used to watching prices on a chart. Many traders use charts to make trading decisions so getting a good understanding of how they work early on is key.
The trick is to open a DEMO account with a broker at no cost and use their charts and market data for free. They are hoping you’ll love the platform so much that you’ll deposit some funds later but you’re under no obligation. Stay on demo as long as you need.
Click the broker link below and scroll down to the OPEN DEMO button.
Losses can exceed your deposits.
IG is the biggest firm of it’s kind in the UK and they have good charts, a huge selection of markets to trade and nice extra features like guaranteed stops which you can use to limit your risk in a trade.
Once you have access to your demo you can start to watch the markets of your choice.
Popular markets to watch are
EURUSD, GBPUSD, USDJPY, EURJPY, AUDUSD
FTSE 100, DAX, DOW, NASDAQ
Gold, Oil, Silver
That’s enough to get started with. Pick say 5 markets max to watch and lean how they move and trade day to day, week to week. Once you start to get a feel for them you can start to plan a trading strategy based on patterns you see.
Whilst you are doing that, check out IG’s educational centre which is available once you open an account. They have some great videos showing you through the basics of trading and how it all works on their platform.
PART II and free trading course coming soon….
Remember that trading is very very risky and you are highly likely to lose your money. You could lose more than your initial investment in some circumstances so take professional advice before trading with real money. Only risk what you can afford to lose.
PS: If you already have a broker it’s always prudent to open an additional account with other brokers for emergencies or opportunities in other markets.
An alternative or backup is this popular firm ETX