Urgent quick advice needed: Stop my h-l drip feed this month?

kar999

Dont panic!!

If you are not sure whether to invest then let them take the direct debit as normal and leave it within HL as unallocated cash. You can do this online. They usually take the money around the 7th (the 8th this month see below) but they dont invest till 10th anyway. I'm letting mine go through as normal this month but might switch which funds it goes into after I've done some research over the weekend. You can swap online where the money goes up until very first thing (before 8am I think) the morning of the 10th.

From HL FAQ's
Payment will leave your bank account on the 7th of each month (or the next working day if the 7th is not a working day) and investments are made on the 10th (or the next working day if the 10th is not a working day).

If you're unsure where to invest or just want to sit out of the market, you can hold cash within your Stocks & Shares ISA. HM Revenue and Customs regulations state cash can only be held with the intention to invest at some point in the future, however, there is no set timescale for investment.

ShelleyC_2

ffacoffipawb wrote: »

Can you log in to your HL account?

Yes I can. Why?

Good luck Evilplan!

rockitup

I had big delays on the HL site this morning around 8.20 trying to buy a FTSE tracker ETF, had already logged in but it wouldn't let me do a buy with message saying live price not available on 2 different FTSE100 trackers.

In the end I just made a spread bet on IG Index instead, never had trouble with HL before. Must have been some massive volume of trading being done.

evilplan

Thanks Shelley - you too!

rockitup - I'd guess there are loads of us going "OMG PANIC!" right now

kar999

rockitup wrote: »

I had big delays on the HL site this morning around 8.20 trying to buy a FTSE tracker ETF, had already logged in but it wouldn't let me do a buy with message saying live price not available on 2 different FTSE100 trackers.

Yep it was a tad slow at 8am when everyone was checking how much had been wiped off their portfolios! -1.05% for me yesterday and -3.31% for August month to date. Going to be an interesting weekend seeing where to put this months regular amount.

Ark_Welder

evilplan wrote: »

1) Set it and forget it: I've allocated it, don't try to time the markets

Looks like you have already decided to do this, and I think that you have done the right thing. If you had decided to leave it for another month then you might have been asking the same questions then too!

Expect the situation to be volatile for quite a while until those 'in charge' finally get a grip and take charge! I have placed a top-up order for a few quid in a fund that I hold and that should go through today. So if we are wrong, then we can be wrong together - and I have been investing for just over 25 years now!!!

Enjoy the ride...:)

evilplan

Hi Ark Welder. I think you're one of the people whose advice was really worth reading in other threads, so thanks

To be honest, I sat looking at my direct debit allocation and removed it then re-added it, and then, after reading a few posts here, I actually thought "hang on, this is *exactly* what you're not supposed to do".

I fell for the idea that I could maybe second-guess what was gonna happen. Maybe in months or years I'll have that kind of insight.

But y'know what, you're right. There's a load of us who are either gonna sink or swim this weekend

I know I've mentioned it a few times, but the "smarter investing" book is great for giving me a framework - had I not read it, I know I would've just taken a gamble; now, taking a gamble is fine - as long as you know the odds and risks. And I'm happy to admit I don't, hence starting off with some bland and boring trackers!