It may be of interest that ig markets have a demo account.
(Probably other CFD providers do too)
You can fund up the account with serious paper money and see how you perform.
Although the buy/sell prices are the same as using real money, it is " paper trading "
So psychologically it is not quite the same as doing it with your own real money.
(And any real trader will tell you, having your head in the right place is very important to being successful.)
But it is a useful guide for anyone contemplating trading CFDs
If anyone does try it, I suggest you treat it as if it really is your money.
Be cautious.
Don't be cavalier and reckless. ( but you can top the account up if necessary)
Use money management, position size, discipline etc and pay close attention to the underlying real market
Then at the end of say 3 to 6 months you will know a little more about whether
you MAY succeed with real money.
But none of the above guarantees success.
Indeed, most CFD traders lose money.
Disclosure:
I have traded with ig markets with real money for a number of years, and prior to then with cmc.
But other than being a client, I have no association with them.
I only trade the indices, both long and short, and mainly the Australian ASX200 index.
Occasionally I trade the O/S indices at night.
But this is mainly to keep me amused, as there is rarely anything worthwhile on TV.
The sudden big swings on the o/s indices are very dangerous.
So I am quite cautious, because just like watching most TV,
I don't find losing money very amusing either.
