Hello everyone, my first post, I've never traded before, but I have a decent amount of spare cash that I'm interested in having a flutter on the markets with.
I'm looking for a bit of advice from anyone with even a small amount of trading experience, hopefully to save me some time and possibly money.
Basically I've been looking at various stocks and I noticed that practically all of the major stocks have some volatility.
Taking Amazon's month-to-date performance as an example, taken from Google:
Started at $189.70
High was $214.10
Low was $184.71
Currently $198.38
I noticed that practically all (major) stocks move around in the same manner, with 'roughly' a 10-20% volatility in any given few weeks or couple of months.
What I'd like to do is keep things real simple and buy one (or more) of the major stocks at a price that I guess/gamble is the lower end of the movement and then wait a few days/weeks, or even a month or 2, until the price rises (by let's say 10%) - then cash out, making a 10% profit on my stake.
Because I've never traded before I have no idea of the ins-and-outs of the trading process, eg: how easy or difficult it is to quickly liquidate stocks - is it instant, does it take an hour, a day? Also if platforms charge percentages for trading or cashing out etc - so if someone could answer these simple questions it would be most helpful.
Basically what I'd like to know is how realistic is this method of trading in practice with regards to quickly liquidating stock(s) and platform fees?
Eg: If I bought some Amazon stock and the price rose by 10%, could I quickly liquidate and and make my targetted 10% profit?
I have read various trading platforms websites and they advertise free trading and cash outs and such, but I've seen that kind of thing before in other areas and it's only after you've put your money in and tried to do something that you later realise... actually it's not as free as it initially sounded and there are fees and various charges that weren't clear.
I'd appreciate it if anyone with a bit of trading experience could enlighten me on these points, also any recommendations on specific trading platforms (for a beginner) would save me quite a bit of time experimenting and probably some money too.
TIA.
I'm looking for a bit of advice from anyone with even a small amount of trading experience, hopefully to save me some time and possibly money.
Basically I've been looking at various stocks and I noticed that practically all of the major stocks have some volatility.
Taking Amazon's month-to-date performance as an example, taken from Google:
Started at $189.70
High was $214.10
Low was $184.71
Currently $198.38
I noticed that practically all (major) stocks move around in the same manner, with 'roughly' a 10-20% volatility in any given few weeks or couple of months.
What I'd like to do is keep things real simple and buy one (or more) of the major stocks at a price that I guess/gamble is the lower end of the movement and then wait a few days/weeks, or even a month or 2, until the price rises (by let's say 10%) - then cash out, making a 10% profit on my stake.
Because I've never traded before I have no idea of the ins-and-outs of the trading process, eg: how easy or difficult it is to quickly liquidate stocks - is it instant, does it take an hour, a day? Also if platforms charge percentages for trading or cashing out etc - so if someone could answer these simple questions it would be most helpful.
Basically what I'd like to know is how realistic is this method of trading in practice with regards to quickly liquidating stock(s) and platform fees?
Eg: If I bought some Amazon stock and the price rose by 10%, could I quickly liquidate and and make my targetted 10% profit?
I have read various trading platforms websites and they advertise free trading and cash outs and such, but I've seen that kind of thing before in other areas and it's only after you've put your money in and tried to do something that you later realise... actually it's not as free as it initially sounded and there are fees and various charges that weren't clear.
I'd appreciate it if anyone with a bit of trading experience could enlighten me on these points, also any recommendations on specific trading platforms (for a beginner) would save me quite a bit of time experimenting and probably some money too.
TIA.
