Hi

My plan is to open an account with the minimum 2k needed @ deal4free.com and trade in CFDs. Initially I will only concentrate on LONGs, as this seems to be less riskier than the SHORTs. My understanding for a LONG is:

1. You pay interest @ LIBOR + 1.5% on daily basis.
2. There are no commissions
3. 5 to 10% margin
4. Dividends will be credited

Is there anything else I ought to look for? I believe the SHORTs are the opposite.

My intention is not to spend more than 150 per trade. Then I got to work out how long can I have the position open before I call it a day. The intention is to make a quick net profit of 100 within 30 days of opening each position.

I have downloaded the trial software. It freezes everytime I try to run it.

So to summarise, I do not have deep pockets. I can not afford to get Level 2 at present as I have to look after each penny. I am only interested in UK stocks at present.

Any thoughts?

Thanks in advance, Manoj

Thanks everyone for excellent advise. CD-ROM has not arrived yet, so have to stay till tomorrow to start the game. Initially, I am planning to stick with stocks I know, i.e. BBY (favourite, traded three times in last five months, fluctuates between 200 and 220), TLW, BARC and LLOY. Will use this thread upto date with my progress and hopefully less failures, Cheers, Manoj

Ranaweeram: I am a s/b player but would love to see haw u are getting on as the next step for me is cfds aswell.

rgds
zarif