11 Tips for the Beginner Futures Traders in London

tips for the beginner futures traders

There are many reasons why London is the ideal place to trade futures, with London being one of the most important trading centres in the world.

London is home to many large financial institutions, exchanges and hedge funds.

London offers traders a perfect platform to benefit from its strong economy, attractive tax rates and range of opportunities afforded by its sizable financial market size.

Tips for the Beginner Futures Traders in London

1. Find support 

You must find people interested in trading like yourself, can provide emotional support when needed, and have similar goals as you do.

2. Get your university degree 

Cheap universities online offer suitable futures & options courses or go back to school for a few months.

It’s possible to learn independently with all the free trading software available, but the networking opportunities are invaluable.

3. Set your goals

This is probably the most crucial step because you won’t know where you’re going if you don’t set goals.

Nothing can be achieved without knowing what you want out of futures trading in London, so write down some viable long-term and short-term goals relevant to London futures trading.

4. Make your London Trading plan

tips for the beginner futures traders - Trading plan

While London futures traders have different styles, there are still some core principles for any London beginner futures trader to follow.

A London Trading plan should include how much capital you have, what type of traders you are, what time frame will suit your personality best etc.

You will use the London trading plan as a road map to London futures trading success.

5. Watch London markets

London also has excellent free information on world markets, so it’s essential to choose one or two London markets and learn them inside out before committing any capital to the market.

Expert London traders recommend London beginners first gain experience in London by paper trading for at least one year before using real money.

6. Find the best London brokers

Many London futures brokers offer services. It can be pretty overwhelming for a London beginner trader, not knowing how to differentiate between good & bad brokers.

To avoid being scammed, find a reliable broker with 24/5 support who charge low commissions.

Once you have chosen a London broker, ask them for London futures market access & London trading platform – London brokers will always require a minimum capital to allow you London trade.

7. Get a London trading platform

Get a London trading platform

You can download many free London trading software or purchase a cheap London trading platform from your London Broker or a website designed specifically for London traders.

The best advice is not to use expensive paid-for platforms as they are far more advanced than London beginners require.

London Beginner Futures traders should learn the simple order types and focus on building relationships with their London Brokers mentors and studying markets.

8. Check out London indices

To provide diversity, look at other markets apart from London Commodities such as London Index CFDs.

9. Find out about London futures trading

Find out about London Futures Trading Rules, Regulations & Tax. Before you start trading, it’s essential to understand the rules and regulations of London futures trading.

The London market self regulates itself, but some basic principles will help you avoid trouble with London regulators.

10. Avoid the pitfalls before starting

Avoid the pitfalls before starting

There are three basic pitfalls to avoid when beginning any form of London trading.

These pitfalls include overtrading (taking too many London trades), avoiding taking profits (London beginners should always take their profits) and not cutting losses.

11. Start on the right foot

If you don’t start trading with a plan, then you are doomed to fail before you even begin.

Always give yourself goals that are achievable and which will help you progress onto the next stage of becoming a successful trader.

In conclusion

The London Stock Exchange is the biggest financial centre in Europe and has been around for many centuries.

London is home to futures exchanges, such as London is a universal business hub, and Londoners are very professional and understand new businesses and ideas.

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James Khan

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