MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
Just having a read of the moneysavingexpert forums, is it really as complicated as it sounds !?
Anyone dabble? How did you start out and do you have any tips for learning the ropes?
the world would be a better place if those who did deal in share got some rope and hung them selves with it..
and do you have any tips for learning the ropes?
lots of people make money out of people "learning the ropes"
1. Decide how much money you can afford to lose.....
Come on, I'm sure people aren't born stock market investors.... I'm only thinking in terms of a S&S ISA
People make money out of trading shares. More money than the market inherently makes. People even make money out of trading on shares losing value. Somebody has to be losing money...
Though if you're just talking about a S&S ISA, then now's not too bad a time to buy - remember you're in for the long haul, so don't worry about every dip in the market (usual disclaimer - I'm not an IFA and don't even play one on TV).
2008 was a bad year for me, as it was for a lot of people.
I initally took a hammering, but managed to do ok on Lloyds on a daily basis due to them being so cheap and fluctuating so much over a three month period.
Still ended up down, but less down than I was.
2008 was also the year I had a go at spread betting on the markets and made about 6000 in a day, only to end up -1500 by the time my stop limit had been hit the next day.
Can't afford to do anything exciting like that anymore.
Stocks and shares are one method of investing and one which carries a very high level of risk/return.
There is no easy money to be made out there.
"the world would be a better place if those who did deal in share got some rope and hung them selves with it.. "
You don't have a pension then, that's pretty irresponsible. Or infact any insurance which is very irresponsible.
I guess then, that really its you that is hanging themselve ??
DT78 your question a bit open ended. But I presume that you want to actively trade as opposed to buy and hold for the longer term.(if however you just what basic buy and hold then get yourself a FSTE100 share ISA, with the cheapest charges)
For active trading you can make it as complicated as you like, but golden rules are cheap trading charges, setting stop losses, not getting greedy see Quirrel's post (although you should run profits to a degree) and numder one do not invest more that you can afford to lose.
I have been doing fantasy stocks for the last 4 years, my virtual 100k investments is worth about 60k it was 90 odd a few weeks ago.
I am starting to feel like I might put it into practise.
I use a site called selftrade, which is a pretty simple site. I can't say I know that much about shares, but if you just make a point of reading the financial section of the papers, as well as a website or 2, you can get some pretty good tips. Try fool.co.uk, which also has good forums.
Shares can go up as well as down......
, not getting greedy see Quirrel's post (although you should run profits to a degree)
True - I should have cashed out in the evening, and had I been at the pc for the start of trading that day, I would have been up another 1.5k or so, but then my next bit of advice is - if you are going to spread bet on the markets, do not get caught up in a nonsensical meeting after work that means you aren't back for the start of trading UK time.........very very very expensive meeting.
you might as well go to the betting shop, at least you get a better class of people in them..
I use Hargreaves Lansdown to select unit trusts to hold in ISAs for the longer-term. BTW, they're not the people that lost my account as mentioned on another thread....