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Start Share Trading Today?
Jackop
Posts: 150 Forumite
A few friends having a discussion over lunch, one of them pipes up and says if i wanted to buy some shares today, how could i do it?
Iv no idea, everything i know it always takes a few days to open an account with everyone.
Im not sure whether he had it on his mind to do it as it was only a discussion, but is it possible to open a trading account and buy shares in a company instantly?
If so who would provide the service?
Iv no idea, everything i know it always takes a few days to open an account with everyone.
Im not sure whether he had it on his mind to do it as it was only a discussion, but is it possible to open a trading account and buy shares in a company instantly?
If so who would provide the service?
Borrowed - £148000 June 2013
Original MF Date - May 2038
Aiming For - March 2031 (At Latest!)
Overpaid - £490.00
Daily Interest - [STRIKE]£18.16[/STRIKE] £18.09
Original MF Date - May 2038
Aiming For - March 2031 (At Latest!)
Overpaid - £490.00
Daily Interest - [STRIKE]£18.16[/STRIKE] £18.09
0
Comments
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Hi Jackop -
Be VERY careful when you get into the world of share trading, the short version is that you can make A HELL OF A LOT of money by day trading online yourself with an online trading account but of course you can LOSE a hell of a lot too. As a new member to MSE I dont think I can post links but if you Google something like "online share trading" there are loads of companys that offer you the facility to open an account and trade the same day.
Words of advice:-
DO YOUR RESEARCH in to the market your looking to buy shares/contracts in.
DO YOUR RESEARCH in to the Stock Market in general.
ONLY invest what you can afford to lose.
Use the demo accounts that these companies offer so that you can get some practice - they offer around £50,000 of virtual money that you can place live trades on.
Choose your Market wisely - the FTSE is amazing to trade on as things move so quickly "but its not for the faint hearted"
Have a strategy - especially be disiplined when it comes to losses - when you do loose money "and you will - dont carry on trading to make up your losses, invariably you'll end up losing more"
Sign up for as many financial/stock broking newsletters and RSS feeds as you can - you'll get a lot of useful info as to what way the market is going and what might happen throughout the day.
When you think you have done all you research do some more, little things like weather, strikes, city bonuses company forecasts and things that you would NEVER ever think of play a MAJOR part in the way the market is going to go
The reasons for the words of advice is that in 2 days I made over £3,000 buying CFDs on the FTSE (my first ever go a share trading) on day 3 "being a bit too over confident and thinking I was Gordon Gekko" - I lost just over £3,400 -IN A DAY"
Best Of Luck0 -
Hi Thanks for that, im not going to start messing round with that until i 'can afford to lose the money' as they say.
Plus i dont really want the hands on involvement, if i was to start trading it would be for short to medium term sitting on things for at least a few months and trying to spot bargains.
Ill stick to my FTSE tracker fund and my imaginary trading account until i can learn the ropes.
But thanks for the info im going to bring it back up again today.Borrowed - £148000 June 2013
Original MF Date - May 2038
Aiming For - March 2031 (At Latest!)
Overpaid - £490.00
Daily Interest - [STRIKE]£18.16[/STRIKE] £18.090 -
In answer to your original question it usually takes a couple of days to set up a trading account and move cash over to it. Once you have then you can use the cash they are holding to buy and sell shares instantly.0
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