Paddy needs help

[Paddy Murphy]

Hello everyone. My name is Paddy Murphy from Cork and I am looking for some adice with this trading lark. I have done a few posts over on the traders from Ireland thread and got some advice from Jan to read some books. I am after getting a few from a friend of mine but to be honest I am more confused after reading some of the stuff. All this moving average stuff and indicator stuff is driving me mental. I am used to backing horses and when I spot a horse in good form I put the money on and let him do what he does best and that is run. Can anyone here help me out a bit for I lost some money on Eircom and Elan before and this time I want to pick a few winners. Thanks.
Paddy

 

[wasp]

Hi Paddy,

Not really looked in on the other thread as thought it was just a social meet board.

My first piece of advice would be, load up your charts and watch. Continuosly. Alot. No indicators or moving averages etc.Get a feel for it. how it acts, how it behaves and does what, when, where, why and how.

Like your horses, you wouldn't start betting on a new one on the track. You look for form and something reputable and watch it race before you put money on (I assume). same with markets.

 

[Paddy Murphy]

Hello Wasp and thanks for the help. I went to a TICN money talks meeting some time ago and they had charts on all the walls. It was very confusing.At one stage I looked up and I am certain I saw a chart on the ceiling as well. The teacher said that if the red line crosses the green line and goes above the orange line then that is a buy signal. I thought he was talking about traffic lights or someting. All I want to do is make some quick money like on the horses. I dont mind sharing a few quid with someone if they can give me the right horse to back. Over here in Ireland everyone is talking about this trading lark and starting up these investment clubs.They all think they are like that Warren Buffet fellow that was in the news a while ago. The most important thing for me is to beat the bookies and I dont care how I do it. Any tips you might like to share with me will be accepted with open arms and as I said I don't mind sharing some of the bookies money with you if we win.Thanks.
Paddy

 

[wasp]

If you want a quick buck, stick with the horses, trading is not quick easy money mate.

 

[Paddy Murphy]

Hello Wasp. I love the horses but the bookies over here are so full sometimes it is hard to get in to place a bet and I lose out. We usually meet up in the local over a few pints of Murphys and then go look at the form. After a few scoops we then sit down and compare bets. We then all agree on whose bet is likely to win and we all bet on that one. We do very well most of the time but sometimes one of the lads has a bit too much to drink and picks the wrong horse. I know a builder over here who made over 330,000 euor on Irish shares last year. He told me he done it with cfd or something like that. I then said to myself if Jimmy can do it then why can't Paddy do it. And that is why I am now on this internet to try and find out how Jimmy done it. I will keep looking as I know he done it for he bought a big new BMW Turbo Diesel with all the mods, a little tellly in the dash as well. I was going mad with jealousy for we went to school together. Jimmy is a nice chap but he will tell you nothing. Some friend he turned out to be. Thanks.
Paddy