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Comments

  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    melly1980 wrote: »
    old fuddy duddy :rotfl:

    Guilty as charged! :T
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • melly1980
    melly1980 Posts: 1,928 Forumite
    gadgetmind wrote: »
    Guilty as charged! :T

    whatever works for you though :beer:
    Salt
  • sheffield_lad
    sheffield_lad Posts: 1,990 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    melly1980 wrote: »
    whatever works for you though :beer:

    Ummm, still more fun sticking it all on a junior miner on AIM lol ;)

    Good luck with it.
  • melly1980
    melly1980 Posts: 1,928 Forumite
    howee wrote: »
    Ummm, still more fun sticking it all on a junior miner on AIM lol ;)

    Good luck with it.

    :rotfl:

    Cant make my mind up now, im more confused than when I started. :)

    I think i need a good 6 months on my practice account, along with studying chart reading / technicalities as well as looking at company data. After this I will make a judgement which will probably mean $hitt1ng out and dumping it into an ISA :rotfl:
    Salt
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
    howee wrote: »
    Ummm, still more fun sticking it all on a junior miner on AIM lol

    It is when they are rising :)
    It isn't when they are falling :(
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
  • Derivative
    Derivative Posts: 1,698 Forumite
    When I say "mutual fund", I mean an index tracker - in terms of "knowing how they do it", for all intents and purposes it's just buying every company on the index in proportion.

    If you look at the holdings for a FTSE 100 index tracker, at the minute they're all 5% HSBC/BP/Vodafone, and so on. Same proportion as market capitalization (value of all shares.)

    Putting 4k in there and 1k to 'play around with' is probably a sensible idea. You do indeed get to learn more about the markets.

    Just watch out for dealing fees on small amounts. If you invest £500 in a single stock on x-o.co.uk (cheapest I'm aware of), you're looking at £6 to buy and 0.5% stamp duty, so 1.7% lost before you even start.
    Said Aristippus, “If you would learn to be subservient to the king you would not have to live on lentils.”
    Said Diogenes, “Learn to live on lentils and you will not have to be subservient to the king.”[FONT=Verdana, Arial, Helvetica][/FONT]
  • pqrdef
    pqrdef Posts: 4,552 Forumite
    melly1980 wrote: »
    3) Since you can have ISA accounts and none ISA accounts why would you chose the none ISA account? Is it a case of you move onto the none ISA account when you have used up all your ISA limit (hence you should start with an ISA account) or is it just to do with what markets you can trade in (as per question 2 above?).
    With an ISA, once your money is in, it's more or less stuck there. With a non-ISA account, you can suck money from the bank by debit card, trade with it immediately, take a quick profit and put the money straight back in the bank.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
    melly1980 wrote: »
    :rotfl:

    Cant make my mind up now, im more confused than when I started. :)

    I think i need a good 6 months on my practice account, along with studying chart reading / technicalities as well as looking at company data. After this I will make a judgement which will probably mean $hitt1ng out and dumping it into an ISA :rotfl:

    What you need is my new book titled 'How to make your first £million'
    Price £29.99 ;)
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
  • melly1980
    melly1980 Posts: 1,928 Forumite
    Glen_Clark wrote: »
    What you need is my new book titled 'How to make your first £million'
    Price £29.99 ;)

    Seems a good deal. I'll giver you 50 for it

    :D:D:D
    Salt
  • melly1980
    melly1980 Posts: 1,928 Forumite
    pqrdef wrote: »
    With an ISA, once your money is in, it's more or less stuck there. With a non-ISA account, you can suck money from the bank by debit card, trade with it immediately, take a quick profit and put the money straight back in the bank.

    Sorry to keep asking questions...

    If I go down this route can I essentially have a share trading account open with little or no balance in it at all then choose the trades as above via a debit card.
    Salt
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