Living off my savings and sharedealing

ses6jwg

bobbyj wrote: »

I don't have to PM you.
If one is serious about making money on the market then level 2 is a must, everyday should start with a look on investegate to see which cos are saying what (for instance COV announced this morning and the news was good re oil strike and so I bought first thing at 29p and i'll be looking to exit in the morning in the mid 40s).
I also use igindex for top movers up/down min by min - another must.
Also I periodically look at the ftse 350s biggest losers over a month and look to see reasoning. If it's not news related falls then it's probably sector out of favour and so i may trade it back up over a period of time. Last post re shares as the do-gooders and thomases on here will have me arrested and chased off.

ps never by a tip, the marketmakers will suck you in and spit you out, always sell a tip. Good luck.

COV, there was no guarantee that it would build on those initial gains.

I've seen companies rocket in the morning on an initial good report only to give up their gains by the bell.

Risky strategy.

bobbyj_2

lol! And that's the gamble but like FEP it was scorching news. Ooops did say no more posts. DOM on tues was a great example of why you need level 2 btw, sold down to 300p on great results and then bounced back up (now 350pish). I scalped 20 out of them from 305 as they started bouncing, doesn't work 100% of time but key is to get more right than wrong.

Going to study PIBS next for my share ISA

aspiration_2

bobbyj - Thanks. Very useful info.

I merely asked you to PM me because your tips are genuine and posting on a forum may not be construed as correct advice.

BTW what is level 2 ??

bobbyj_2

level 2 data feed , google it all will be explained, priceless info though.

sabretoothtigger

level 2 is the order book. All the auction data before each sale is matched to each buyer. If 10 million shares selling at 300p appears you might decide to cash in your 100 shares at 310 before the price drops.

People deliberately enter fake orders I think so its probably not straight forward. Its for the high flyers

tradetime

People deliberately enter fake orders I think so its probably not straight forward. Its for the high flyers

Correct, once upon a time, before it became widely available Level 2 had much more use than it currently has. It still has uses to a reasonably aggressive daytrader mostly as a tool that may help to determine liquidity at the inside order around an entry and an exit target in reasonably thinly traded equities, apart from that it has little or no use since everybody can lie on it about the size of their orders and even the prices they are bidding and asking, and they frequently do..
Old habits die hard and some traders use it as a crutch to help them enter on chart patterns, ie they see a pattern and then look for orders on level 2, fact of the matter is the setup will either work or fail, so you might as well take it anyway that's all there is to it, pro traders will not display their orders openly so people waiting for confirmation on level 2 often miss the trade. The time and sales portion can also be of use, but again for an aggressive daytrader. If you are a swing or position trader it's about as much use as a chocolate fire guard

SiFi

Firstly, sorry for resurrecting a week old thread.

I just had to say I'm disappointed to see mse posters slating the OP like this. Seems like they prefer scratching around with 2-3% interest rates for their entire savings - hardly a balanced approach to investing IMO, way too conservative if you bother researching markets just a little. How do people think banks make their money? They're run by normal human beings too, it's not magic. I stumbled on this thread as looking for a similar opinion to OP. It's always the same with market skeptics - anyone successful is lying or just lucky. Sad to see this negativity/jealousy.

The OPs story is entirely believable and is siimilar to my own experience.

I wish the OP good luck, and congratulations on not being a sheep

bobbyj_2

well said. I've had a great 2 weeks with COV,EMG,HOC and a beautifully timed trade in PRU ( 20% was too much of a fall imo ). Sold HOC and PRU and will drip sell EMG around 270p+ hopefully. Sold a few COV as well. Around 50% in cash now but just shows how doub digit percent gains can be made in this market if one takes short term view. Market looks overbought now imo.
Opened a 5 year bond this week as well with Aldermore, also looking at some PIBS.

sabretoothtigger

Now tell me what shares will do well in the next week :laugh:
I didnt realise pru would recover so suddenly, still expecting weakness but when I dont know the rights dates I guess that was premature.


The whole shares beats savings argument reminds me of the guy who remortgaged his house to buy lloyds shares in July 2008.
However so long as you are not just buying one company your risk is lower


Man group is yielding 10% I read :O Could you elaborate on that trade

turbobob

sabretoothtigger wrote: »

The whole shares beats savings argument reminds me of the guy who remortgaged his house to buy lloyds shares in July 2008.

For real? I wonder if he's still holding them or was there a point where he thought "this was a bad idea" and got out :rotfl: