Understanding stocks & shares ISA

Exodi

Alex9384 said:

I opened my first ever S&S ISA just a month ago with Trading 212.

Fantastic news - here's to the start of a long and prosperous journey into the world of investing!

Alex9384 said:

I'm interested in swing trading

Alex9384 said:
I just hate reading about taxes in a bureaucratic language and I find it easier to ask people who are already experienced in it.

Alex9384 said:
There are several good websites for stock analysis, now also using AI models.

Alex9384 said:
I haven't sold anything at a loss yet. If something drops into the red, I keep holding it.

Alex9384 said:
news about company and then discussions of other investors who focus on given industry and know a lot about it, that helps a lot. Then I decide whether to buy or not.

Alex9384 said:
I managed to make over £500 in June (on 8 stocks) and over £200 so far this month

Alex9384 said:
I don't panic-sell. Nothing sold at a loss so far. I'm also averaging down sometimes.

I have a couple stocks in the red but I know it's temporary and that they are good companies so I'm not going to sell while in the red.

OK I lost count of the red flags (and it's only the second page). I admire the other people trying desperately to help you (though it looks to be falling on deaf eats), I'd imagine you will end up learning an expensive lesson here.

I think this sort of degenerative gambling speculative investing is best supported on subreddits like r/wallstreetbets with the other gamblers speculative investors and not on a money saving forum.

Exodi

[Deleted User] said:

Alex9384 said:

mark_cycling00 said:

I suspect that the type of person who's successful at day trading is the type of person who could quickly understand the relatively simple concept of ISAs. 

How are you going to research and evaluate a REIT if you're struggling to discover if you pay CGT after 1 year or not.

Really please be careful with your money 

Thanks, but I didn't say day trading, I said swing trading, which means holding for days/weeks, in some cases months. I think day trading is purely about technicals whereas swing trading involves fundamentals. I aim to buy companies which are good enough to keep long term even if they temporarily dip after I buy them.

I'm not "struggling to discover", I just hate reading about taxes in a bureaucratic language and I find it easier to ask people who are already experienced in it. Is this not a form of discovering? I think that's the main purpose of forums like this.

Good advice from Mark, he even mentions researching and evaluating.

I aim to buy companies which are good enough to keep long term even if they temporarily dip after I buy them

So no stop losses, you're just going to buy and hold as the ship sinks and you hope/pray for a recovery?
Good luck with that... How are you planning to manage risk?

Companies don't always recover, no matter how much you research them or believe that you know better than the market.

As above, be very careful with your money.

*glances at my friend who put £10k into WeWork stock around 2 years ago while it was trending downwards as it was due to rebound 'any minute'*

At the time I remember being lectured with "you can't make money without taking risk" and being linked to forum posts which supported WeWorks imminent meteoric rise, as evidenced by many rocket emojis.

I pointed out WeWorks accounts, most notably their lack of profitability and rate of cash burn, but was told I'm too short-sighted.

Still holds the stock to this day, nursing a near total loss (though he's not so vocal about it anymore). Logic was largely the same as being applied by the OP (you can't lose money if you don't sell when it's down).

EDIT: found the details from chat history. He bought on 22nd April 2022, price looked to be $6.74, now worth maybe $0.10? So his holding would be worth about £148.37 today.

[Deleted User]

Exodi said:

[Deleted User] said:

Alex9384 said:

mark_cycling00 said:

I suspect that the type of person who's successful at day trading is the type of person who could quickly understand the relatively simple concept of ISAs. 

How are you going to research and evaluate a REIT if you're struggling to discover if you pay CGT after 1 year or not.

Really please be careful with your money 

Thanks, but I didn't say day trading, I said swing trading, which means holding for days/weeks, in some cases months. I think day trading is purely about technicals whereas swing trading involves fundamentals. I aim to buy companies which are good enough to keep long term even if they temporarily dip after I buy them.

I'm not "struggling to discover", I just hate reading about taxes in a bureaucratic language and I find it easier to ask people who are already experienced in it. Is this not a form of discovering? I think that's the main purpose of forums like this.

Good advice from Mark, he even mentions researching and evaluating.

I aim to buy companies which are good enough to keep long term even if they temporarily dip after I buy them

So no stop losses, you're just going to buy and hold as the ship sinks and you hope/pray for a recovery?
Good luck with that... How are you planning to manage risk?

Companies don't always recover, no matter how much you research them or believe that you know better than the market.

As above, be very careful with your money.

*glances at my friend who put £10k into WeWork stock around 2 years ago while it was trending downwards as it was due to rebound 'any minute'*

At the time I remember being lectured with "you can't make money without taking risk" and being linked to forum posts which supported WeWorks imminent meteoric rise, as evidenced by many rocket emojis.

I pointed out WeWorks accounts, most notably their lack of profitability and rate of cash burn, but was told I'm too short-sighted.

Still holds the stock to this day, nursing a near total loss (though he's not so vocal about it anymore). Logic was largely the same as being applied by the OP (you can't lose money if you don't sell when it's down).

EDIT: found the details from chat history. He bought on 22nd April 2022, price looked to be $6.74, now worth maybe $0.10? So his holding would be worth about £148.37 today.

I could write an essay on this, as I started trading in the late nineties.
Bookham, Baltimore Tech, Marconi, Telewest, BT, Vodafone, Nokia, I could go on....( VOD almost 400p in the late nineties, 70p today).
It was fantastic until it wasn't. I actually thought that I was good at trading
Made fortunes, lost fortunes and more.
I learnt some very expensive lessons and still remember the days/weeks of feeling physically sick from it.

Fortunately, at the time I was earning good money and paid large lump sums into pensions, all sensibly invested.
I've continued to contribute over the years and now have a pension that generally increases each year by something close to my annual salary. It's a good position to be in and not remotely connected to my investing prowess. 

I still follow the news flow, and have a small watch list that I know inside out. I have trades planned that might take months or even years to play out (or might never happen). As they say, plan the trade and trade the plan.
I know my entry and exit points, where my stops are, and what I can stand to make/lose.
I now understand risk management and discipline, because of this I seldom trade, it's a mugs game.
Just one uncontrolled loss in a hundred trades can ruin everything.
Buying and holding broad based investments and letting compounding do the hard work is a far better strategy...