were to start

[RobcPettit]

Hi, at the risk of asking a question thats been asked so many times, Id like some advice in were best tobegin. My circumstances are this. I work shift patterns, so Im looking to trade mostly of an evining, between 8.30pm and midnight, if thats possible, and days when possible. Im only starting with a small capitle of 500, which Ive set aside as being able to afford to lose. Ive got sharescope end of day, and metastock 9. Im fairly ok with t/a as far as buying shares long term. So trading would be completly new to me. (although Ive been trading on betfair, backing and laying horse.) Could somebody give me a pointer of were to look first, and would I need to possibly upgrade sharescope to real time, or possibly another software. I Know theres more than one answer to this but would be gratefull to any pointers. As youll knotice Ive been a member for a while, not many posts, but its time I stopped flafing around and got on with it.
Regards Robert

 

[RUDEBOY]

Rob........what can i say?

Temptation?

500 smack'a'rooners? If you can afford to lose them on the markets, you will lose indeedy. How interested are you Rob? What do you know? Are you being realistic? Put the 'monkey' into analasys and learning.......not the market.

For you, learning is the key, without knowledge of the markets your dosh won't last two minutes.

Don't dissappoint yourself.

 

[RobcPettit]

Thanks Paul for your reply. When I say I can afford to loose, I dont meen I want to loose , just that Im notting using this months rent, therefore not adding pressure to win. Im very interested, Ive read on t/a by prind, murphy and a few others over the years. Ive been watching the movement of share prices with sharescope and excel for a while now. My problem is knowing were to actually begin re trading. Im ok if its deciding on a share to buy as a medium to long term hold. But trying to establish what to use/look at for trading, Im all over the place. Your right, learning is the key, can I do this as if I was Trading, ie with the right kit, for 6 months or so.
Regards Robert

 

[RUDEBOY]

I'm not right for you.

Trader 333, may help?

All the best.....

Rude.

 

[panda]

Hi Robert, why not have a look at the "first steps" threads and even post you're questions there ?
If it's spread betting you want to look into then have a look at finspreads, they do a sort of learner/training type thing whereby you can place very small trades to begin with until you gain knowlege and confidence.
Sorry i can't offer much but am still learning myself so tend to read these boards rather than post, i expect some of the more knowlegeable members will pickup on your'e questions and give you some pointers.

Regards Andy

 

[RobcPettit]

Thanks andy, Im looking at finspreads now as it happens, theres so much info here that It becomes a bit overwhelming. Im basically trying to see what I can trade of an evening, and what software and knowledge I need to gain. Finspreads looks good.
Regards Robert

 

[wasp]

Seeing as you are still not sure why not open a demo account with a SB firm, and then use their live charts for free.

Then I'd suggest trailing and listening to the DOW / FTSE and CABLE threads... watch, learn and listen, compare with the charts... Feel free to ask questions, everyone will be willing to assist on all threads.

Make your own mind up about what you read and just watch and see.... See how others make their decisions. Try to work out why, just watch nad see...

Save your money for at least another 6 months... Demo trade till your blue in the face... Keep trailing the threads and watching the charts....

Experience and watching counts for alot...

http://www.trade2win.com/boards/showthread.php?p=234520#post234520 CABLE

http://www.trade2win.com/boards/showthread.php?t=18136 DOW

http://www.trade2win.com/boards/showthread.php?t=18136 DOW

http://www.trade2win.com/boards/showthread.php?p=234388#post234388 FTSE

Just an idea....

Chris

 

[fxmarkets]

yes, learn .. trading is not something you do "Of an evening" go down the local of an evening,yes , walk dog of an evening,yes , watch telly of an evening, yes... but trading....... of an evening..... ? second word ? you know what, even if you was my mate I'd pan your head on a car roof for that one.... for your own good. you need to be very focused, and know that you are out to do a good job.

else you'll just end up throwing darts in the markets, of an evening, thats not what you want is it?

 

[Racer]

first of all you have to think of your costs.. dealing charges alone will take a big chunk out of £500 even if you only trade one company.. add stamp to that.. oh and there is the spread to contend with as well...

okay so you have now bought.. so you decide you want to sell immediately.. costs again and that spread again... so straight away you must realise you have to make gains in the stock to cover ALL those costs first!
(and that doesn't include any data providers you are paying for either.. if you are doing that.. add another bit for that too)
don't trade tiny small caps/penny shares.. the spread is horrendous for both buying and selling.. dont think because you are the proud owner of a million shares you will make a million. you are more likely to lose the lot! you will find yourself down by about 20 or 50% immediately after all the charges I have listed.

Keep learning, keep asking but think first before you risk your hard earned.

 

[RobcPettit]

Thanks to all for these replys. OK after getting panned by fxmarkets and an outline by racer I think its deffinitly learning. As broadsword say, 1 or 2 hours aday. Thnks to chrisw for the links and panda for pointing me to first steps. Ok, final question then, while Im doing the reading, as chrisw suggest I could sign up for a demo account, can you have one of these long term, or do sb firms limit your period of time. Thanks again to all, thats the best thing about this site, its stops fools rushing in.
Regards Robert

 

[panda]

Agree with Racer re the costs. It is very easy to buy/sign up to everything you see when first looking but in my minimal experience there is a whole lot of good free info on this site and the web in general. Try the knowledge lab here or sites like stockcharts.com have a lot of free stuff on TA. As you are a sharescope user have a look into the forum there ( not nearly as many posters as here but a few helpfull ones nontheless)
I tend to do a fair bit of googleing and follow links by posters on here. Also ( probably obvious) if you are ever tempted by systems, books, tipsters etc then do a search on here first.
BTW are you looking at UK or US
All the best A

 

[RobcPettit]

Panda, as Im using sharescope I will look at uk stocks to begin with, Id forgotten about the sharescope forum, last time I looked there wasnt much activity, so ill take another look.
Regards Robert

 

[BroadSword]

....as chrisw suggest I could sign up for a demo account, can you have one of these long term, or do sb firms limit your period of time. ....

Capital Spreads will let you run a demo a/c indefinately, I believe, free of charge...

No doubt there are others, too.

 

[RobcPettit]

Thanks Broadsword, signed up today. Reading through the posts.
Regards Robert

 

[mzmalicious]

trading on the evening is quite difficult. . .