CMC markets - any experience?
Discussion
Was on a stag do this weekend and during a quiet moment at breakfast I got chatting to one of the blokes I'd not met before.
Nice chap who started age 16 as work experience at Morgan Stanley. Dropped out of A-levels & went back. Worked bloody hard, made a great living but has now quit. He has a substantial income from property investments having bought a few houses in Hackney/Shoreditch in 2003/2004.
He now day-trades for a bit of fun. It's something I've been interested in for a while but never investigated.
To get to the point, he flat out told me not to use the trading platform he uses, said that as a beginner I'd be ridiculously out of my depth and it would be far too easy to make a small mistake which could lose me a lot!!
He advised having a play on CMC markets - he hasn't used it himself but thinks it might be "user-friendly" for a novice.
Just wondered if anyone here had used that site before and had any pros/cons or could suggest other trading platforms to try?
Suggestions appreciated.
La Liga said:
I'd use IG over CMC as the charting (ProRealTime) is superior, amongst other things.
In fact, I wouldn't bother at all as trading is a nightmare and most people lose money. It'll likely take years and huge dedication and commitment to become consistent and profitable.
Your last line is essentially what the bloke I was talking to said to me - he has made and lost fortunes and it's only by a several years of learning and a hefty measure of good luck that he is "up" at present.In fact, I wouldn't bother at all as trading is a nightmare and most people lose money. It'll likely take years and huge dedication and commitment to become consistent and profitable.
Fair play to him, think I'll leave it alone!!
OzzyR1 said:
Your last line is essentially what the bloke I was talking to said to me - he has made and lost fortunes and it's only by a several years of learning and a hefty measure of good luck that he is "up" at present.
Fair play to him, think I'll leave it alone!!
If your goal is to generate extra income, you're much more likely to do so by developing / using your existing skill set and experience. Fair play to him, think I'll leave it alone!!
We're not psychologically not designed to think and behave in a manner than trading / investing requires us to do so. You're constantly battling against yourself in this respect and it's a real pain.
Hoofy said:
And even if you put years and huge dedication and commitment in, you could still fail to be consistent and profitable.
Absolutely. 
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