Can day/swing trading be done with iweb sharedealing? If not which do you advise and general tips?

PloughmansLunch

I'd never actually do this with my own money, but I set up a virtual money CFD position on Trading 212 last Friday afternoon with only minor profit/loss adjustments over the market rate to see what would happen and have already managed to "lose" £330+ of mickey-mouse money

coyrls

I am always surprised at the lack of imagination shown when people claim that they they want to have fun with a "few hundred quid".  Losing it on trading would be bottom of my list for fun that could be had with a few hundred quid.

Alexland

GervisLooper said:

So I will be entering the world of those pretentious looking chaps in suits with their heads in the papers I always used to see on the train.

The reason they were in suits on the train is because they were dependant on employment for their income.

They were subject to the same grind of annual objective setting, performance appraisals, mandatory training, etc as other employees.

If they had a get rich quick plan that worked they would be in shorts on a beach as many youtubers are when working to push their get rich quick schemes...

wmb194

coyrls said:

I am always surprised at the lack of imagination shown when people claim that they they want to have fun with a "few hundred quid".  Losing it on trading would be bottom of my list for fun that could be had with a few hundred quid.

It's just another form of gambling and some people enjoy that.

GervisLooper

[Deleted User] said:

GervisLooper said:

Why don't you advise me what research to do to learn it then? If you would be so kind. That also does interest me a lot however on the couple of times I have started to look there are tsunamis of get rich be a millionaire type rubbish. So I want a better idea of what I am looking for.

From my coding experience I only started learning when I actually tried to make a program that was going to be of use to me. The training books did not have any real emotional relevance until I did that. After I dove in and started coming upon stumbling blocks that is when I would go and seek out the answers.

8 years later, and coding most of those years, I still haven't gone back to completing that book I started.

Good at coding? That's a fantastic opportunity to learn.  Why not create a binomial model to simulate day-to-day share price movements and then work out how much capital you need and how much money you might make bearing in mind your chosen stop-loss, margins, derivative, etc you want to use.  Then once you've done that you could model intra-day share price movements and see how that changes.  You could model a few of the derivates you are interested and share your repo so we could comment and learn ourselves.

I presumed that other probably much better coders with years more experience of both coding and stockmarket would have done that up and down already.

Alexland

GervisLooper said:

I presumed that other probably much better coders with years more experience of both coding and stockmarket would have done that up and down already.

Another good reason not to try and outsmart them. Just buy your share of the stock market with an index tracker and harvest your fair share of market returns and let them all waste costs trying unsuccessfully on average to beat each other.

InvesterJones

I suspect the main way day traders on youtube (british or otherwise) make money is via youtube (advertising) revenue - the trading is a loss-leader to get the views

OP if you want to learn, sign up to a free account with one of the many platforms/stock simulators and play with virtual money. No difference in the lessons learned, only it doesn't cost you.