Thought i would say hi!

[paulbennett1084]

Hi All

I thought it would be an idea to say hello...so hello!
I am rather new to all of this trading, but find it very exciting none the less. I currently have 603 shares, bought at 82.811p with Desire Petroleum (DES.L) This is the only stock i hold in my portfolio, but its a good start and i am learning a lot.

I figure at my age 26, i got time to grow and learn as a day trader. So im here to be a sponge and soak up all the knowledge i can get from this site. The only thing i am finding hard at the momemt is finding best places to get news and such, i find a lot of sites are more States related, i currently use:

http://www.londonstockexchange.com
http://www.shareprice.co.uk/
http://www.iii.co.uk/
http://www.lse.co.uk/
http://www.bloomberg.com/

and a few more, however like i said i find more sites are giving info about the states markets. Im not quite ready to trade in those markets i wish to stick with the FTSE & FTSE AIM 100 - so any advice or secret sites you which to share would be splendid.

So let the soaking up begin...and hello again

 

[timsk]

Hi Paul,
Welcome to T2W.
You might find it worthwhile having a look at these two:
advfn
Hemscott
I don't trade U.K. shares myself - so I don't know if they're any good for breaking news or not though.
Tim.

 

[paulbennett1084]

Thanks Tim, I have had a look they look good for me, Hemscott looks good.
What do you trade? You find it's easier to trade with the states due to a job? As this isn't my full time job ha so might be hard to keep tabs on the uk Market all the time

 

[Elisium]

Hello, Paul. Welcome!
Do you trade on Forex?

I do very interesting in share trading, can you tell me what service provider do you use.

 

[arabianights]

Your portfolio doesn't look so good today...

 

[paulbennett1084]

Elisium - i dont, i am only trading stocks at the moment...

arabianights - ha i know, it dropped to 60p this morning, but is now hoovering around the 72p mark. So still loosing but, but its not all that bad. Lesson learnt! WAKE UP EARLIER! lol

 

[timsk]

What do you trade? You find it's easier to trade with the states due to a job? As this isn't my full time job ha so might be hard to keep tabs on the uk Market all the time

Hi Paul,
These days, I trade index futures (YM and ES). However, I used to trade equities and I preferred U.S. stocks because, as you say, it's easier to get info' on them and they're easier for anyone with a 9-5 job.

The two companies listed earlier are free (although I think both offer a premium subscription based service). If you're happy to shell out a few pounds each month, then I can recommend ShareScope - which is especially good for U.K. traders. I was with them a few years back and found the to be really helpful and their charting package is excellent too, IMO. I'm sure you'll get much more detailed company info' with them than is available for free elsewhere.
Tim.

 

[paulbennett1084]

Morning Tim. Thanks for all the links Hemscott is useful already.
Reason i started with UK stock, is i think trading in dollars is more daunting than trading in pence. I havent seen much trading in cents. I wouldnt really know where to start when it comes to the US markets...but everything seems to be pointing to them, its rather hard to find regular info on the FTSE AIM 100

Maybe its something i should start looking into, just knowing where to start

 

[William King]

Well I didn't see the link of elite trader but this is also one of the most useful place to learn trading

 

[timsk]

Morning Tim. Thanks for all the links Hemscott is useful already.
Reason i started with UK stock, is i think trading in dollars is more daunting than trading in pence. I havent seen much trading in cents. I wouldnt really know where to start when it comes to the US markets...but everything seems to be pointing to them, its rather hard to find regular info on the FTSE AIM 100

Maybe its something i should start looking into, just knowing where to start

Hi Paul,
Trading U.S. stocks differs to U.K. stocks in a number of ways. As a general rule f thumb (and there are exceptions), the U.S. market is more liquid (making it easier to buy and sell at the price you want without incurring slippage) and enjoys greater volatility (more bang for your buck). If you're trading actual shares (as opposed to spread betting or derivatives) there's no stamp duty to pay - unlike here in the U.K. Adapting to dollars and cents as opposed to pounds and pence ought to be straightforward - so I'm not really sure how or why you're struggling on that front?

If you're new and finding your feet, I would suggest that the AIM market isn't the best place to start. Others might disagree, but AIM shares are often highly speculative, which will make the slim odds of finding a consistently profitable methodology even slimmer! You're better off sticking to the highly liquid end of the U.K. equity market which, in effect, means the FTSE 350. Just my £0.02p worth and may well be wide of the mark if you have developed a methodology specifically for AIM shares.

If you're new to the business as a whole, I suggest you start with the 2nd link in my signature. It's written specifically with the newbie trader in mind.

Tim.

 

[paulbennett1084]

Cheers Tim will have a quick read. I have heard that about the US markets, its more fast paced and sometimes bigger rewards. I have had Desire now since 2005 so been looking after that stock quite well, but the US markets are untouched, i have had a nose around but the companies i would like to invest in their stocks are too high. I have been in IT for 7 yrs, so can be a bit of a geek...so NASDAQ would be ideal as i keep in touch with the major players and read up on anything new they have...but like i said their stocks are far to big for my little pennies *cry*

 

[timsk]

Paul,
If you're swing or position trading - i.e. holding positions from a few days to months - have a look at spread betting. You don't need a lot of money to open an account and all of them will offer Nasdaq 100 stocks as a bare minimum.
Tim.

 

[paulbennett1084]

Paul,
If you're swing or position trading - i.e. holding positions from a few days to months - have a look at spread betting. You don't need a lot of money to open an account and all of them will offer Nasdaq 100 stocks as a bare minimum.
Tim.

Ah i have seen so much on spread betting, but its also seems very daunting. There are a lot of iphone apps too. City Trading Pro / CMC / Barclays etc etc...Do you have any other resources to learn? I think next time Desire rockets, ill use the profits to spread bet.

 

[timsk]

Do you have any other resources to learn?

By the time you've worked your way through 'I'm New to TRADING - Where do I Start' FAQ in my sig' and followed up all the links - you should have the main bases covered. If you're still hungry/thirsty for more - there's all the other FAQs in the Trading FAQ forum and around 400 Articles in the Articles section!
Should keep you out of mischief for a day or two!
Tim.

 

[neil]

Cheers Tim will have a quick read. I have heard that about the US markets, its more fast paced and sometimes bigger rewards. I have had Desire now since 2005 so been looking after that stock quite well, but the US markets are untouched, i have had a nose around but the companies i would like to invest in their stocks are too high. I have been in IT for 7 yrs, so can be a bit of a geek...so NASDAQ would be ideal as i keep in touch with the major players and read up on anything new they have...but like i said their stocks are far to big for my little pennies *cry*

Save monthly in a Unit Trust. In the meantime read all you can here and elsewhere, maybe practice on free simulators (SB companies allow demo accounts). In acouple of years or so you should be ready. Aim and Penny stocks are dangerous (low liquidity and hunting ground of sharks who "pump and dump.") You sound very new thus a long period of reading and demoing would benefit you as well as helping you to find a style of trading/investing that is personal to you.

 

[arabianights]

and the unit trust should be the lowest fees possible, which is probably a tracker, because as much as retail mags like to suck neil woodford's dick or whatever, even if the manager can outperform he won't for various structural reasons I'm too lazy to list....

 

[neil]

and the unit trust should be the lowest fees possible, which is probably a tracker, because as much as retail mags like to suck neil woodford's dick or whatever, even if the manager can outperform he won't for various structural reasons I'm too lazy to list....

Agree entirely.
Here is a little info on them..


http://en.wikipedia.org/wiki/Index_fund
http://www.thisismoney.co.uk/tracker-funds
http://www.timesonline.co.uk/tol/money/funds/article6990165.ece

If the OP wants more info. all he has to do is Google additional info. to the links above.

 

[jastic]

I started with shares last year, luckily I picked the stocks that were going downwards in the crash so when they recovered I made a few pounds.

In my case I spread the money around different companies that looked likely to survive, supermarkets, utilities, pubs, transport, specials like de la rue. Did get some that were not a good choice, Punch taverns to name but one, but the other stocks made up for that.

Basically, I looked at the way others trade, some buy cheap and wait for the share to rise, others invest for long term. So I did both and its worked reasonable well so far. There were some I missed out on, sold Sainsbury shares to early but one thing I noticed is that there is a certain repeatability about stocks, that there will always be another chance.

Regards Jim