I want to try a realistic simulation to see how much of a clutz I am before losing all the family money on the markets. Does anyone use one?
T212 and presumably other platforms let you have a 'test account' with 'pretend money' if that's what you mean?
Although the way you've phrased your question, to me says you should stay well away from stocks and commodities trading and just invest in a diverse ETF within a stocks and shares ISA.
T212 and presumably other platforms let you have a 'test account' with 'pretend money' if that's what you mean?
It is!
Although the way you've phrased your question, to me says you should stay well away from stocks and commodities trading and just invest in a diverse ETF within a stocks and shares ISA.
Why?
Some of these trading platforms do 'back testing' too.
If I'd set up this trading strategy in the past, where would I be now? Doesn't mean it will work in the future of course...
Although the way you've phrased your question, to me says you should stay well away from stocks and commodities trading and just invest in a diverse ETF within a stocks and shares ISA.
Why?
Because you are talking about 'trading' in gold, rather than 'investing' in it. That's not generally why people buy gold.
Because you are talking about 'trading' in gold, rather than 'investing' in it. That's not generally why people buy gold.
Ah, fair enough! Yep, I’m a total novice, hence the posting on here and wanting to practice it with no risk first
Some of these trading platforms do 'back testing' too.
If I'd set up this trading strategy in the past, where would I be now? Doesn't mean it will work in the future of course...
That sounds interesting!
By trading, you mean gambling.
Open a demo CFD account with IG - the platform is exactly the same as you would get with a real account. It is a much superior product compared to T212. You can trade everything from it - stocks, indices, commodities, FX and you can even play around with options which is even more fun than just buying/selling spot.
Don't pay attention to any clueless fool that tells you to 'just invest in an EFT'. If you want to try trading, then try it. Plenty of folks make decent money doing just that without ever having bought a ETF in their entire life (myself included).
https://www.ig.com/uk/demo-account