Trading.

C_Mababejive

spender wrote: »

That is a very sensible post. I do not talk to my friend now unfortunately (his new lady doesn't like the old friends) but I often wonder how his trading of redundancy money is going. I know he trades forex but what screens etc he has I do not know. I also worry that he is keeping himself out of the job market as time goes on. However it is 10 months on and he reckons that he is earning his salary and then stops and enjoys life.

I just hope that it is not a run of good luck followed by a fall.

He could well be doing ok. Remember though, people will always tend to tell you they are doing well as they wont want to admit to the opposite.

C_Mababejive

Kaimoo wrote: »

Any advice on who to use as a total newbie to buy shares? Not a massive amount just around £1000 for a maximum of six months, it would be a total guess what I'd buy however I would do a little research but it would be a gamble. I know any share buying is a gamble but more so for me since I'm completely new to it.

I can afford to lose it all but is it possible to actaully double your money? Or is that extrenly unlikely unless you buy into the next Microsoft or Apple?

My very best advice to you is dont get involved.

£1000 is too little to dabble in retail share trading.

The stock market is overcooked and has too much downside potential.

The chances of doubling your money in the next year in my humble and unprofessional opinion are slim to none.

My portfolio is more than a hundred times that amount and im not buying shares at the moment, Im only reinvesting some divis as the dealing charge is cheap. I'm more likely to sell,take profit and wait a while.


Share dealing is high risk stuff. It is very unpleasant to loose money/be sat holding a pup.
If you really want to invest it, 6 months is a little bit of a short window.

ChristopherM87

I'm quite enjoying Zulutrade, where you can follow other traders.

le_loup

ChristopherM87 wrote: »

I'm quite enjoying Zulutrade, where you can follow other traders.

Oh! So they have the answers, do they?

planteria

i saw a thread re. this last night, with a link to the iPlayer..but i can't see it now. does anyone have the link please?

dale_cotterill

planteria wrote: »

i saw a thread re. this last night, with a link to the iPlayer..but i can't see it now. does anyone have the link please?

http://www.bbc.co.uk/iplayer/episode/b04jjjc2/traders-millions-by-the-minute-episode-2

It was almost a comedy to be honest. Some of it was just absolute gold. Other parts were just scary.

James_B.

C_Mababejive wrote: »

He could well be doing ok. Remember though, people will always tend to tell you they are doing well as they wont want to admit to the opposite.

People who trade can even convince themselves that they are doing well, even when the evidence is clear that they are not.

I've known people with spread-betting accounts swear blind that they were making a tidy profit, and then show me an account that needed regular top-ups of margin, with no withdrawals (ever).

People will "accrue" notional profits on open positions, ignore positions that are down ("that one is a long-term holding"), and convince themselves that any "blip" was when they stepped away from their foolproof scheme.

planteria

iPlayer is currently unavailable due to a technical fault

zayn

ChristopherM87 wrote: »

It was very interesting. I have always wanted to go into trading to suppliment my income and as a hobby. I have narrowed down a few brokers, which ones do you use?

• https://openbook.etoro.com
• http://uk.saxomarkets.com
• http://www.forex.com/uk
• http://www.fxcm.com/uk/
• http://www.cmcmarkets.co.uk/en
• http://www.ig.com/uk/

Etoro looks excellent because I can copy popular traders! I only plan to deposit £10k and have a max loss of around a few £100.

saw this about etoro, i don't think it is a good idea

http://www.telegraph.co.uk/finance/personalfinance/investing/11123162/Return-of-the-daytrader-can-you-earn-a-living-by-copying-other-investors.html

zayn

kingrulzuk wrote: »

Any advice on trading currency?

Start with a plus500 demo account , work on the Euro/USD , if you can work on only one trade a day say 10 pips or above in profit for average of 3 months then you have done well. if your losses are over 10% per day then forget it...