Can you put faith in certain tipsters for long term investing via a SIPP?

[PokerBrat]

cheers i take it no one likes tipsters.

Not so, I actually love tipsters. They do a huge amount of research for you and point you in the direction of opportunities that you may not have discovered by yourself. Unless you do this full-time, you simply wont have the time to scan hundreds of stocks each week. So you need to find a way to filter the stock market and tipsters provide this for you.

The reason most people don't like tipsters is because most people are looking for some sort of holy grail where they can invest their money with no effort and no responsibility and make themselves a millionaire, Rodney.

This simply doesn't exist and no stock picking strategy provides 100% winners. So when the newbie investor loses a bit of money following a tipster they immediately start shouting about how crap they are and move on to the next one.

There simply is no way to avoid taking responsibility for your own investing decisions, be they following a tipster or trading on your own analysis. You must have a plan for each trade you make - when to buy, when to sell, when to take profit, when to cut losses etc.

Only when you have worked out your own trading plan, can you then use tipsters to filter the stock market and provide you with opportunities to go on your watch list.

If you are really new to this, I would suggest you put your SIPP money into a range of funds that give you a diversified portfolio (ie some equities, some commodities, some emerging markets etc). Then I would suggest you learn about investing and trading, try your hand at spreadbetting with a low cost account (www.iii.com, finspreads.com allow 10p a point bets) and see how you go.

Then when you have a strategy which works and you feel comfortable with, take control of your SIPP.

If you have never traded before, you are going to find it really difficult to trade with thousands of pounds in a SIPP and you don't want to risk losing your future because of ego.

Start small and grow bigger is the best advice I can give you. Starting big and failing is too much risk to take on, and successful investing is more about managing risk than it is about picking winning stocks.

 

[dealer911]

Never listen to tipsters..! They never seem to tell you when to close a losing position.. greatest trader of all time jesse livermore went broke by listening to a tipster.. one of his golden rules is dont listen to tipsters.. good enough for me!

 

[Splitlink]

Never listen to tipsters..! They never seem to tell you when to close a losing position.. greatest trader of all time jesse livermore went broke by listening to a tipster.. one of his golden rules is dont listen to tipsters.. good enough for me!

I didn't know that. With the money he had he must have broken another rule---don't overtrade.

 

[dealer911]

I didn't know that. With the money he had he must have broken another rule---don't overtrade.

The guy was a proper player though!.. for those who dont know him have a read of http://bit.ly/508tKo

 

[Splitlink]

The guy was a proper player though!.. for those who dont know him have a read of http://bit.ly/508tKo

Yes, he was. A pity that he did not know how to retire gracefully. Even though he shot himself, I believe that he left his wife with a fortune, so it must have ben depression over a series of losing streaks that got to him.

Remember that, Buster!

 

[philni]

Not so, I actually love tipsters. They do a huge amount of research for you and point you in the direction of opportunities that you may not have discovered by yourself. Unless you do this full-time, you simply wont have the time to scan hundreds of stocks each week. So you need to find a way to filter the stock market and tipsters provide this for you.

The reason most people don't like tipsters is because most people are looking for some sort of holy grail where they can invest their money with no effort and no responsibility and make themselves a millionaire, Rodney.

This simply doesn't exist and no stock picking strategy provides 100% winners. So when the newbie investor loses a bit of money following a tipster they immediately start shouting about how crap they are and move on to the next one.

There simply is no way to avoid taking responsibility for your own investing decisions, be they following a tipster or trading on your own analysis. You must have a plan for each trade you make - when to buy, when to sell, when to take profit, when to cut losses etc.

Only when you have worked out your own trading plan, can you then use tipsters to filter the stock market and provide you with opportunities to go on your watch list.

If you are really new to this, I would suggest you put your SIPP money into a range of funds that give you a diversified portfolio (ie some equities, some commodities, some emerging markets etc). Then I would suggest you learn about investing and trading, try your hand at spreadbetting with a low cost account (www.iii.com, finspreads.com allow 10p a point bets) and see how you go.

Then when you have a strategy which works and you feel comfortable with, take control of your SIPP.

If you have never traded before, you are going to find it really difficult to trade with thousands of pounds in a SIPP and you don't want to risk losing your future because of ego.

Start small and grow bigger is the best advice I can give you. Starting big and failing is too much risk to take on, and successful investing is more about managing risk than it is about picking winning stocks.

cheers for that , i have been spread betting for 3 months and reading a lot of books.don't worry i have no intention rushing in with my sipp .
cheers phil

 

[philni]

Whilst by no means could they be called "tipsters" , as a result of reading Robbie Burns' The Naked Trader and subsequently paying ADVFN (less than £40 per annum) for access to The Naked Trader premium bulletin board I have become an avid "lurker" on the board. There is a small group of people who post regularly on there , they have no agenda , they are not rampers , just a bunch of enthusiastic traders and investors who discuss shares and you'll find that some are mentioned regularly and are firm favourites. Some of them have a frightening knowledge of Technical Analysis too which makes one feel rather humble.

You will never find anyone tipping shares on the forum but it's a great place to lurk. As for investing through a SIPP I would certainly consider some of the shares I've seen mentioned on there , such as SNR , a British company that has a $800000 stake in the manufacture of every Boeing 787 Dreamliner (this is not a tip btw!!!!!).

If you've got the time and the inclination do a bit of lurking like I have and see what you think.

really appreciate that , i actually emailed robbie and he did reply , he says that advfn figures for fundamentals maybe inaccurate so he uses the actual annual reports.
have just read benjamin graham's book the intelligent investor and yesterday 2 books arrived from amazon security analysis by graham and the zulu principle by slater. so i have now 6 more books to read.still have 3 days of a course to attend yet on long term investing in april , so i am in no hurry , i have waited this long.
cheers phil

 

[PokerBrat]

have just read benjamin graham's book the intelligent investor and yesterday 2 books arrived from amazon security analysis by graham and the zulu principle by slater. so i have now 6 more books to read. l

I hate to do this to you, but I definately recommend you get Trading in the Zone by Mark Douglas.

In fact, I recommend you read his book before you read any of the others. Getting your head straight is the most important factor in being a successful trader/invester. It took me a long painful year and a lot of losses to realise this.

You don't need to know everything about the market to be successful. You just need a simple proven stock picking system with a method for identifying entry, stop loss and profit target. And then you need the discipline to follow it.

The last bit is the hardest for most people.

Good luck with your journey.

 

[philni]

I hate to do this to you, but I definately recommend you get Trading in the Zone by Mark Douglas.

In fact, I recommend you read his book before you read any of the others. Getting your head straight is the most important factor in being a successful trader/invester. It took me a long painful year and a lot of losses to realise this.

You don't need to know everything about the market to be successful. You just need a simple proven stock picking system with a method for identifying entry, stop loss and profit target. And then you need the discipline to follow it.

The last bit is the hardest for most people.

Good luck with your journey.

ok will do (boss)

thanks phil

 

[ebt1f]

Phil

Have you considered going on one of Robbie's seminars? I have but am not sure how more advantageous it would be than reading the book (which I have done several times).

 

[Dentalfloss]

i put faith in killik & co stockbrokers with my sipp...10 years ago..90% blown in the dot com boom

 

[philni]

Phil

Have you considered going on one of Robbie's seminars? I have but am not sure how more advantageous it would be than reading the book (which I have done several times).

no i hadn't as i am learning with a company called WIA now called TRIGENT so have access to them but i feel 1:1 with a mentor would be best and you would get more out of it.
based in n. ireland so unless he was over here it is unlikely as i have 1 more trip to see trigent , just haven't decided which 3 day course i will go on.

plenty of reading to do though , have to get douglas's book .
cheers phil , time for tea