• Australian (ASX) Stock Market Forum

Paper trading the DAX - which broker?

Discussion in 'Brokers' started by JuniorNugget, Aug 7, 2011.

  1. JuniorNugget

    JuniorNugget New Member

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    Aug 7, 2011
    Hi everyone,

    I currently work in the finance (non-trading) field and am under some *tight* restrictions around what I can/can't trade and when. I wish to break into trading specifically and want to gain experience by day trading the DAX in the evenings.

    I've been trying to hunt for a broker that will let me open a paper trading account with a long life (hopefully indefinitely, I'm willing to pay some sort of 'rental fee'). Any help? I've searched countless forums and brokers and have come up short. Also, I'd prefer not having to load an IB account with $10,000 which I won't ever actually trade with. Cheers!

    JN
     
  2. aBadTrader

    aBadTrader Well-Known Member

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    Ahh dude, take it from me. Unless you are an absolute gun trader, never makes a mistake etc.. Trading with less than 10K is going to be hard.

    First off, if you are anything like me, risk management on a mere $1000 will mean that the money is not meaningful enough. So you chase the highs only to find that fear, anxiety and being averse to risk, forces you to trade too much, cut trades that inevitably work out in your favour, and all the other fear driven factors that ruin your trading. My biggest peeve was exiting too early, or too late. Lacking targets, I just go with the flow - money gone.

    Take it from me, I've lost a fair share. But stupidly trickled the money into the account trading on a small base each and every time. It's madness.

    I use Pepperstone. I use the cTrader and MT4 platfoms in unicen and loaded the account with 10K. Give them a shot, but for the DAX, their market is a CFD market and not sure if that's what you want. I mainly use them for forex, but the DAX spreads can be quite low and the platform is great.
     
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