Trading the stockmarket (NO Referrals)

Again annoyed I couldn't get a short on the ftse when it hit 5700, would have another few quid in my pocket if I'd have been able to :(
 
Are there any forums you guys would recommend following/reading? I am up 1k in my fantasy stocks and shares in 1 week so very keen to get involved.

Are there also any books you guys would recommend?
 
jordan282 said:
Are there any forums you guys would recommend following/reading? I am up 1k in my fantasy stocks and shares in 1 week so very keen to get involved.

Are there also any books you guys would recommend?
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You can read through places like trade2win.co.uk and elitetrader.com which are both more or less aimed at people dabbing in trading in their spare time- but as with this thread - there is so much **** that gets posted.

Still useful perhaps for reviews of brokers, software and the odd useful reply from some of the posters who actually do know what they're talking about.

Being 1k up in your fantasy portfolio is pretty meaningless though, the important thing is having an edge. Do you know how you made that 1k? If you don't know what your edge is then you don't have one, if you don't have one then you shouldn't be trading as you're basically just taking punts and relying on luck alone.
 
Also what would you have done if your fantasy portfolio had been sat on a £1k loss? Chances are nothing. But what if you were trading for real and sitting on that loss? would have known whether or not to hold or sell?
 
Anyone holding DES at the moment must have balls of steel. The price has only dropped to what it was a few days ago after the big rally at the end of yesterday, so nothing concerning. It's a trader's dream this share.

I have a tiny holding at 50p so am simply watching the game unfold.
 
dowie said:
You can read through places like trade2win.co.uk and elitetrader.com which are both more or less aimed at people dabbing in trading in their spare time- but as with this thread - there is so much **** that gets posted.

Still useful perhaps for reviews of brokers, software and the odd useful reply from some of the posters who actually do know what they're talking about.

Being 1k up in your fantasy portfolio is pretty meaningless though, the important thing is having an edge. Do you know how you made that 1k? If you don't know what your edge is then you don't have one, if you don't have one then you shouldn't be trading as you're basically just taking punts and relying on luck alone.
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Good post and solid advice, I second this. I personally do not trade, I invest. I have no idea how to gain an edge in trading over all the professionals - and neither do I have access to the same level of data they have. No point playing the game if you don't get given the same equipment, in my eyes. So I invest instead, with the occasional short term investment here and there (Which is still nowhere near the level of day trading).
 
DES is an interesting one, the rumours of a duster are driving the price down to an attractive level. If they hit oil it's an easy profit, if they don't then that's the 3rd duster in a row and I don't know where the share price will settle after that.
 
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