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How are UK day traders set up??


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How are UK day traders set up??

  #11 (permalink)
 
rassi's Avatar
 rassi 
the congo
 
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Mammal View Post
Thanks Rassi, I guess what I mean is, there doesn't seem to be the same range of accessible, online, (specifically) futures brokers as in the US. What would be an example of one of the clearing houses? That world probably wouldn't be interested in my tiny account I expect

I'm currently trading the Dax throughout the day, but being very selective, looking for good setups -so maybe only a couple of trades a day. Unfortunately I've just started to get the hang of things after finding futures (previously toiling away at fx spreadbetting), just before I go back to work. Which means then I'll have much less time to stalk trades, so was going to look at scalping I guess -bunds, estoxx.

I agree there isn’t the range here but there isn’t the market for it, there are much better deals for small accounts in spreadbetting than futures. Clearing houses wise Dorman or there was Kyte now Part of Rjob. You could have a look at prospreads owned by capital spreads but they are supposed to be DMA spreadbetting and allow micro lots. Never tried them though.

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  #12 (permalink)
 hughesfleming 
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I have not traded Eurex futures for a long time. I did in the past when we all had modems and dialup. In those days, a tiny account and DAX futures just was not a viable combination for survival. Perhaps things have changed.

You might want to consider spending the time to figure out if you really have an edge. That is going to take some time. Unless you have a very systematic approach, it will be very difficult to separate skill and luck. Your last post was terrifying in the sense that what you describe ends badly for most people. Start very conservatively. Futures might not be the best learning tool.

You can use CFD's with IB UK and that might be a better way to start. IB manages their CFD trading differently than most brokers and better. That might be a good way to get going. You can then move to the futures contract once you are comfortable without having to change broker.

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  #13 (permalink)
Mammal
Bristol, UK
 
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For the last couple of years I've been working hard, looking for an edge in fx, but, unless in very specific circumstances, couldn't really find it, and was just breaking even. Then a couple of months ago I started using live exchange data, and it clicked. I'm still learning, but I know I can do it now, and am profitable in a live account. So what I need is somewhere I can open an account, trade live and sim, on good data, where I feel confident keeping my funds. Does that sound less terrifying?! I can't keep my current arrangement as I now have to go back to work, so need to adapt to effectively shorter time frames, but will keep using what I've already learned.

BTW when i say tiny, I mean small (poor end of 5 figures).

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Last Updated on March 25, 2018


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