Day Trading advice needed

jimjames

How do you end up with £1 million in the bank?

Start day trading with £10 million ......

somethingcorporate

Good luck, you are going to need it to avoid going broke very quickly!

chucknorris

Gullzter wrote: »

Hi all, i'm new to the idea of trading stocks and shares and am looking to take it up soon.
I have a couple of questions:

1) I am planning on trading starting with around £5-10k but i will be looking to add to that from several other investments i will be cashing in on and am planning to do day trading so i could potentially be buying and selling £10k+ worth per day...
What brokers would you recommend for this in terms of keeping fees etc to a minimum?

2) I am currently a Uk citizen (only nationality) and am looking to migrate to UAE in next 6months or so, would i be better waiting til i've made the move to start trading for tax purposes or can i start now under some sort of foreign base?

I will no doubt have more questions as I continuously scour for new information.
Thanks :hello:

If it was as easy as you think, we would all be doing it. I know this will fall on deaf ears, but please do yourself a favour and forget this idea.

alanq

Remember that as well as selecting shares that will increase in value you will have to cover stamp duty and dealing costs. These will be especially significant for frequent trading of relatively small amounts.

sorcerer

So If you are really determined to do this, what is your risk profile, and have you built up your risk strategy plan. I find the best day traders are natural gamblers, because they know how to manage risk, so they are not taken out of the market.


How would you feel if you lost £8000 of your £10000 would you give up, or fight back. The best day traders normally start by losing a lot of money, they learn the hard lessons. And only a very small percentage of them make any money at all.


But if you do do it, please come back and tell us how u did?

TrustyOven

What's your collective thoughts: the post above by MrAmitAnand is spam, or not spam?

Smells a bit spammy to me.


Gullzter,
How much of your 10k have you lost nearly a month into your day trading?

jimjames

TrustyOven wrote: »

What's your collective thoughts: the post above by MrAmitAnand is spam, or not spam?

Smells a bit spammy to me.
Gullzter,
How much of your 10k have you lost nearly a month into your day trading?

Spam, please report. 100% spam as he's now posted on every thread.

The only people to win from day trading are the brokers selling the shares.

Archi_Bald

MrAmitAnand wrote: »

JimJames im not a spammer looking at avenues to inform people of a great service I have to offer. Please see the above message I sent to TrustyOven

Feel free to contact me if you think I can assist your trading.

You are a spammer as you have posted the same drivel in over half a dozen threads.

In any case, you are not allowed to offer any service on the MSE Forum, and your posts have been reported.

Gadfium

MrAmitAnand wrote: »

JimJames im not a spammer looking at avenues to inform people of a great service I have to offer. Please see the above message I sent to TrustyOven

You are indeed spamming and it looks like, in breach of the T+Cs
"8.2 You may not use the Forum, Social Media or any other communication systems for any illegal purpose and in particular you may not:
8.2.10 post the same note more than once or 'spam';
8.2.15 give investment advice by way of business or make financial promotions."