I opened a dealing account with IG index with £1,000 and would like to have feedback from others on their trading plan. Had a lot of good advice from Goldfinger and done a bit of research on what would be the best trading plan for the small punter.

My trading plan at the moment is to deal in 1 to 4 stock's under 200p and use only 2% of my cash balance [ £20 ] , so i could open 4 bets of £5 or 1 at £10 & 2 at £5, etc: With a stop loss of 5% and a sell limit of 15%

Aldwickk, while you are waiting for replies, put the word Spread into "Title Keyword in Search and see some earlier threads on the subject.

skinny

done it , but no recent thread on SB trading with £500 - £1,000 but will take a look at them

Alders - with respect the above is a money management plan not a trading plan. Looks good but meaningless and rigid. Find a stock that you are familiar with. Preferably whilst learning FTSe 100 that is liquid with no more than a two point spread. Forget about finding three more until you have traded that one. When you have found this stock get back to me and I will talk you through the procedure I go through to assess it as a long or short spread bet or to leave alone.
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Yes , your right Chris it is a money management plan because of the small amount of money to be used, I do adjust it slightly depending on the type of stock and i move the stop up to my buying price as soon as i can then reduce it back when the price falls back.

Gone long ITV @219, stop@215, target 230