Soldato
- Joined
- 27 Aug 2005
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Sounds very tempting to get onto the trading market but where do you guys buy your shares from and do you need a specific trading bank account?
Trading the stockmarket (NO Referrals)
- Thread starter mcast123
- Start date
Soldato
When I was trading... it was up at 7am for news reading, trade UK markets till 12 then start researching US markets playing off UK news / Anticipating UK falls & climbs based on US situation. Trade US until close then research the Japanese and Chinese markets (Nikkei and Hang Seng) and trade them until 4am. Sleep and wake up in 3 hours to do it all again.
The rush you get while trading is lovely, especially when you're second trading. The Hang Seng and Japanese markets are lethal and wonderful for margin trading. Once made over £1000 in less than 10 minutes when the US car bailout fell through before japanese and chinese markets opened, shorted it and sat here astonished as it dropped 100's of points in a matter of minutes with the hang seng dropping over 1000 points overnight. Could easily of gone the other way if you're not careful.
I wont make another entry, unless they drop. I do appreciate your point though and it's the reason why I haven't invested in the past.
In current times savings accounts are not worthwhile and when I had some cash I saw an opportunity to put it in some of the low value stocks.
I also have a load of BP shares that provide a stable Dividend return.
Soldato
I have to say, that's madness.
I generally set my position based on my technicals and walk away.
My trading takes up anything from 10 minutes to 1 hour per day, if I'm actively scaping then yes I can sit there all day but to be honest you tend to overtrade. I made about 20 scalp trades on the EUR/USD Monday for ~200pips P/L.
However I much prefer to snip 20 pips a day out of the market, I make sure I'm not headed for a big news release otherwise I pull the plug on the position.
Most people think 20 pips is nothing, right? Wrong - 20/100ths of a $ is worth $800 to me and will only increase as I employ more contracts. Daily. My risk is also small (Stop) at ~10 pips depending on my technicals.
Soldato
- Joined
- 27 Aug 2005
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So if i would like to take £1k to start trading where would be the best place to start?
Buy low, sell high is my strategy
I just have bought into stocks that appear low, hence banks and companies like Aviva. Seems to have worked so far, but agreed I'm investing rather than trading
Thats been a viable strategy during the recession due to the undervalued nature of many stocks and the reason I got involved.
I am apprehensive of the realistic prices we are returning to. I liked undervalued!
Soldato
Exactly.
And if this is indeed a bear market rally then ... well I don't need to spell it out.
Agree'd. And the reason I've only been 33% in recently.
Soldato
- Joined
- 7 Feb 2004
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- 3,072
I would say it's a lot more difficult now, I think I had the same idea as Simon, a lot of stocks looked seriously undervalued and with poor returns in banking, I took a punt and it's paid off but I wouldn't now be looking at investing in those shares I've already got.
You mean broker or actual stock advice?
I use TDWaterhouse. As for stock advice.. no way.. sorry.
Soldato
- Joined
- 27 Aug 2005
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But how would one go about in trading, i believe that i will need a trading account and these are expensive? Just want some heads up as to the things i need if i was to proceed after more research obviously
I'm in deep on LLOY and RBS. Making a real killing and holding on for the lung run. Bought LLOY at 66p and took more at 38p when they were offered under rights issue.
I have LLOY in my ISA so any gains over the years are tax protected.
Although they've issued a lot more shares over these months when it comes back to dividends I should make about £20k a year on dividends alone. This is unlikely because of the dilution but always worth dreaming
Also have some YELL and a handful others.
I use my HSBC account (investdirect, for ISA) and TDwaterhouse for all others.
I have LLOY in my ISA so any gains over the years are tax protected.
Although they've issued a lot more shares over these months when it comes back to dividends I should make about £20k a year on dividends alone. This is unlikely because of the dilution but always worth dreaming
Also have some YELL and a handful others.
I use my HSBC account (investdirect, for ISA) and TDwaterhouse for all others.
Its funny I sold up the YELL not long ago because I got tired of waiting
I'm just about even with them....but they're another i'm holding for the long run. They took a big dive after I got it (always the way eh!).
But how would one go about in trading, i believe that i will need a trading account and these are expensive? Just want some heads up as to the things i need if i was to proceed after more research obviously
I just opened one with my bank, HSBC.
Easy enough, no setup cost and they also have a settlement account so you can trade instantly
Although they've issued a lot more shares over these months when it comes back to dividends I should make about £20k a year on dividends alone. This is unlikely because of the dilution but always worth dreaming
Also have some YELL and a handful others.
I use my HSBC account (investdirect, for ISA) and TDwaterhouse for all others.
How many do you have !
Soldato
- Joined
- 7 Feb 2004
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- 3,072
Open an account with a stockbroker, I use TDWaterhouse, use your card to stick some money into your account then buy.But how would one go about in trading, i believe that i will need a trading account and these are expensive? Just want some heads up as to the things i need if i was to proceed after more research obviously
However it is very risky and only invest what you can afford to lose.
How many do you have !
34k LLOY, 37k RBS.
Average LLOY divdends have been 34p. RBS 2008 dividends were 23p. Works out to be almost 20k.
Naturally there's been a lot of dilution and at the moment they have suspended dividends. LLOY rumoured to be bringing them back in 2010, not sure about RBS.
So in a few years when things are much better hopefully happy days. I'm happy to bide my time.
Soldato
- Joined
- 7 Feb 2004
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Can I ask you for a bit of advice regarding TDWaterhouse, I used to be with Hoodless Brennan however they have swapped me over to TDW today.
I've tried ringing but can't get through.
I bought some shares today for £1000, however the cash in my account is still showing £1000, when I click on Trading>My Orders>Closing Deals I have todays shares in there next to a button that says close deal.
My settlement period was T+3 does this mean after 3 days the £1000 will be used to purchase my shares and close the deal means to sell them?
Associate
You may be waiting a long long time...
The government owns a large chunk of Lloyds, some very angry tax payers will protest if they start dishing out dividends, rather then paying back some of the large debts it owes the government.