Tools

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.crude oil spreadbetting

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.

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.

market clues daytrading

Popular markets to watch are

 

Forex

EURUSD, GBPUSD, USDJPY, EURJPY, AUDUSD

Index

FTSE 100, DAX, DOW, NASDAQ

Commodities

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.

 

Check out my spreadbetting video course too if you haven’t already.

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

Other Useful Websites

Stock screener finviz
UK shares site ADVFN
UK shares site Money AM
Economic Calendar All
US Economic Calendar
US Stock Discussions
Commodity News
UK Short Position Tracker