I also support Mike that you should have more capital since, even if you trade sim initially, it is not the same when you trade your own money.
You misunderstood me; check Velocity perhaps they allow UK based residents.
Also, it depends what instruments and how you are going to trade. Sometimes, IB's data is enough if you trade off hourly or minutes charts.
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Let's say that $5-10k is not the only money I have but it's the allocated risk capital, so I can say I am aware of that, although I don't have to but I really want to start one day... I'll either win or lose...I firmly believe in the first!
Yes, I'll contact them myself, for now I know of a UK based trader who trades through them and looks like it's OK
I primarily trade TF, and as I said before, although, I know the real deal will be a lot different, I've been patiently sim trading for nearly a year know and even though I have made some mistakes, I know I can follow the plan! I think it's time to get wet.
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Always have money divided into several accounts. You don't really need to choose anything in this business. You can have it all! I like OEC Dom, too.
(The reasons for this is internet connection loss, computer failure etc - all happened to me several times! I would then open a short for my long position that I can't close. Over phone it takes 5 minutes to close a trade and 5 minutes is damn long.)
As far as the thread discussion goes: you have to start somewhere. The time is always a pressure and life is short. I never papertraded and I am glad I did not. While Mike would want you to start somewhere else (forex is great with Oanda, you can deposite something like 10 dollars and trade pennies, but I strongly advise you against putting any real money into forex), I would say it does not matter. Just go with what you feel is right and if you start losing big, stop, if you win big, we are all happy for you! It is always something like jumping into a cold pool water. You can papertrade all you want, but eventually you will have to jump at some point.
I trade mainly with Velocity, but I have accounts with other brokers. Mirus is great, I have an account with them too.
Last edited by ReaM; September 2nd, 2012 at 09:14 AM.
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