Try fictional trading

Most people have a negative image of trading. It is supposedly slow, boring, and full of risks. In my opinion, however, trading is the exact opposite. It is fast-paced, exciting, and profitable. Why do people have a negative attitude towards trading? It’s probably because a lot of people aren’t familiar with the new ways of trading and don’t know how incredibly easy it is to try trading risk free using a simulator.

Try out trading yourself?

fictional tradingWouldn’t it be amazing if you could establish a second stream of income? If you practise a lot, you can use the money from your own company or your job to build a second stable income stream. This way you will have something for a rainy day.

The nice thing about modern brokers is that you can try out trading completely free using a demo account. You can simply open up a free demo account and try it out to see if trading really is something that you want to learn to do.

What’s even better is that you can trade with real money right away. Depending on the broker you choose, you will receive a sign-up bonus of at least 20 pounds, so you can try out trading for real completely risk free.

The new way of trading

A lot of people trade by investing surplus funds in certain stocks or investment funds. They don’t look at these investments for about ten years and then they’ll check to see if the investment was successful or not. I engage in a different kind of trading, let’s call this the new way of trading.

The new trading uses contracts that you close on the underlying value, we call these CFDs. You can trade almost anything: from currency pairs to stocks and from commodities to index funds. I spoke to a farmer that earns extra money trading live pigs!

This way of trading certainly has the necessary benefits:

  • In the short term you can earn a lot of money thanks to a feature called leverage.
  • With modern brokers you can start trading with as little as 100 pounds!
  • You can always make a profit, whether the prices go up or down! By shorting you can earn money when the prices go down.
  • With most brokers you receive a free demo, so you can try out trading completely risk free!
Tip: In our article on CFDs, we look at the basics of the instrument and we tell you more about the possibilities.

A few tips

I would love to give you a few tips that you can use to become a more successful trader. First of all, it’s important that you use a so-called stop-loss. With a stop-loss you make sure that a position is automatically closed at a certain amount of loss. This way you can just go to work without worrying that you will lose a huge chunk of your money.

Another tip that I’d like to share with you is this: Don’t go all-in. Try out fictional trading first and practise using your demo account before you start trading for real. Never risk more than two percent of your holdings on a single trade. This way you can make a profit more consistently and earn a nice amount of money.

Useful links: start trading directly!