Can I trade couple of times a day?

longwalks1

Just opened a First Direct sharedealing account with £10k to play with, and currently got shares in one compnay i've followed closely for 10 years (employer). Obviously the 'novelty' is still there and I'm checking prices every morning etc, bought some shares at beginning of the week and slod them today and made myself £100, not a lot but ok for 2 minutes at start and end of work logging online. Just wondered if its ok to trade once a day, if the market varies that much (and you're prepared to take a small gamble)

I think First Direct buy shares for me when I choose to, and then take the money from my Savings Account a couple of days later, can I still trade again with the same fund/shares? Cureently my balance is showing £20,100 approx but they havent deducted the £9,800 I spent on Monday to buy the shares I've just sold today (Hope that makes sense)

Many thanks in advance

tradetime

In theory you can trade as many times as you want, however it will depend on the type of account you are using in most cases and how they manage settlement. Since most share transaction take place on a T+3 basis many cash accounts I have come across will only allow you to trade with cleared funds in your account, under T+3 funds from an equities sale will not clear for 3 days.

Nosht

No limit at all, just think of the charges on frequent trading but as long as its profitable . . .
I think that the shortest time I held for was 1 1/2 hours as the price moved up to over my 10% profit margin.

N.

longwalks1

Cheers people

Guess the novelty will wear off after a while, but made £100 this week on £10k shares (not great i know) but only watching ones i followed for years (employer)... Worked out after my tax (0.5%) and fee (fixed £10 online) so know how many pence i need to make to make a profit, even if its only £100, but better than the £3 it'd of earnt in a bank for the week

Thanks again

2010

The novelty will wear off when you start losing and try to chase the losses.
Have you thought about stop losses of about 15%?