Trading the stockmarket (NO Referrals)
- Thread starter mcast123
- Start date
Soldato
I've just taken the view now not to even look on days like today - its not a loss until you sell and as I'm holding long term on a number of companies GKP, RMP, RRL, SOLG, MXP plus some others I figured I'll turn off for a couple of weeks and pick up the RNS's as they come through just to check any noteworthy news
Associate
- Joined
- 9 Nov 2007
- Posts
- 834
Indices recovering from session lows - us housing starts up and Merkel talking about helping Greece with more stimulus and that it would be 'good to keep them in the euro'
Steam conference in Kurdistan at the weekend, we can only hope for a GKP boost
Steam conference in Kurdistan at the weekend, we can only hope for a GKP boost
It's not going up. Greece is going to leave the euro. Germany will probably eventually leave too.
The little rally is from rumours of another LTRO arrangement.
oh and from 1 m ago on twitter:
ECB stops monetary policy operations to some Greek banks. -Reuters
The little rally is from rumours of another LTRO arrangement.
oh and from 1 m ago on twitter:
ECB stops monetary policy operations to some Greek banks. -Reuters
Just for fun really. It's pretty much gambling the way things are now. Anyone who is doing the buy and hold thing for their retirement is in for a world of fail IMO.
I mess around with 3x ETFs mostly. Mostly in DUST at the mo.
http://uk.finance.yahoo.com/q/bc?s=DUST&t=5d
Ah I see, I've recently become very interested in forex but could not find a big thread about it like this one. The returns look so much greater, as well as the risks of course because of the huge leverage!
Was thinking of doing it while in uni or during summer holidays, would much prefer it to a part time job at a shop where there is no flexibility.
Forex is likely a waste of your time (unless you're very rich) as you probably can't afford to trade it for real so will be confined to bucket shop type operations that will let you pretend you're trading the FX market (your trades don't go any further than them). Rather hard to gain any edge when your 'broker' is also your counter party, is running a parallel market and can skew prices as and when they feel like it.
Don't believe me? - just look at the fines some of the biggest retail shops have racked up.
Why would the broker skew prices to make me a loss, then people wouldn't use them. Or is that how all brokers work in the forex trading world lol.
I've been using the trade interceptors virtual trading account thing which is going well. I hope it's good practise for when I put real money in. Do you know any good brokers?
Because when you make a loss, they make a profit.
I don't think they need to worry about lack of clients - just like any other form of gambling the fact that the majority lose doesn't seem to act as a deterrent to people keen to try their luck at a casino or bookies.
Soldato
Theres direct brokers for people who buy 100k of Yen or whatever and dowie is talking about spreadbetting I think. They may decide you are a new guy, why bother placing your trade and they'll handle your bet themselves.
Its banned in USA but actually if you are careful it can be a cheap way to be in a market. Its not that risky, the deposit with them is covered like a bank deposit and fsa cover market abuse, etc However Worldspreads went broke recently mostly I think because they bet against clients
Some do actually carry out the trades or add it into their own is more like it. Proper practise would be to hedge client trades, their gain is as marketmaker. They benefit from the spread and spreadbet always charge maximum spread
The best way to learn is with very small amounts but real trades because its about getting a consistent routine and an average profit. Most people play it like the horses so its taxed as betting, which means no income taxes
I track forex but dont usually trade it. Brokers usually cover all types, depends what you mean by good but the smallest deals are best imo.
ICAP is actually a quoted company, not small they run a good operation retail and as a hedge fund. MF Global was a big one, they went broke. EMG is big dealer, I dont think they do retail dealing just fund management. LCG is much smaller, very retail. If you email me I can refer you if you want
Ring395 is apparently dealing shares for £3.95 a time. Have a look at ETF maybe
The spread on CNR is massive so is it cheap? Falling on higher volume but its less then 2010 or 11 so I guess it can still come back then. Its all about the gold price I guess but we are no lower then xmas yet CNR halves it's 8p of DEC
They say they can do open pit mining if needed which may be vital as its lower cost.
I actually think there is better options at this point, companies that make a profit and pay a yield even, no need to go smaller ABG or APF are very unpopular http://www.telegraph.co.uk/finance/...c-offers-rich-royalty-seam-for-investors.html
Its banned in USA but actually if you are careful it can be a cheap way to be in a market. Its not that risky, the deposit with them is covered like a bank deposit and fsa cover market abuse, etc However Worldspreads went broke recently mostly I think because they bet against clients
Some do actually carry out the trades or add it into their own is more like it. Proper practise would be to hedge client trades, their gain is as marketmaker. They benefit from the spread and spreadbet always charge maximum spread
The best way to learn is with very small amounts but real trades because its about getting a consistent routine and an average profit. Most people play it like the horses so its taxed as betting, which means no income taxes
I track forex but dont usually trade it. Brokers usually cover all types, depends what you mean by good but the smallest deals are best imo.
ICAP is actually a quoted company, not small they run a good operation retail and as a hedge fund. MF Global was a big one, they went broke. EMG is big dealer, I dont think they do retail dealing just fund management. LCG is much smaller, very retail. If you email me I can refer you if you want
Ring395 is apparently dealing shares for £3.95 a time. Have a look at ETF maybe
The spread on CNR is massive so is it cheap? Falling on higher volume but its less then 2010 or 11 so I guess it can still come back then. Its all about the gold price I guess but we are no lower then xmas yet CNR halves it's 8p of DEC
They say they can do open pit mining if needed which may be vital as its lower cost.
I actually think there is better options at this point, companies that make a profit and pay a yield even, no need to go smaller ABG or APF are very unpopular http://www.telegraph.co.uk/finance/...c-offers-rich-royalty-seam-for-investors.html
Last edited:
No not spread betting, though essentially the same thing. Whilst spread betting/bucket shops have been illegal in the USA for a while (bucket shops were around at the start of last century in the states) retail FX isn't - and its essentially the same thing.
As for risk, it is very risky - typically very high margins offered... you lose they win. At best they just hedge their overall exposure, at worst they'll actively trade against the clients, skew/spike prices and try to keep any hedging to a minimum as it will tend to erode profits.
Last edited:
Thanks, I actually follow your posts in this thread lol
The amount of research you do for the companies you consider investing is amazing, but then again I guess you would if it's your money.Do you also only do this as a hobby/for fun?
And yeah you're right, I think I just need to get my feet wet in the real market with real money even if it's just with small amounts. I will probably enter with an amount I'm comfortable losing a few times over just to experience the trading and all the emotional rollercoasters associated with it.
Also a few questions I can't seem to find clear answers to or find conflicting answers:
The commission is simply the difference between bid and ask right, or at least for 99% of the brokers? Some places mention things about commission fees :S.
(Assuming a long position) Do brokers always close your position for you if the price falls low enough to empty your account?
no - a broker acts as a go between and charges you commission in return for their services - i.e. providing you with market access, prices and clearing/settling your trade.
The places where you're not paying commission are essentially 'bucket shops' - i.e. spread betting firms and/or retail fx 'brokers'.
they will try to, but if the market gaps past that point you could end up owning them money.
You have to be careful with ETFs and understand how they work. I'm not sure I can explain it very well but they attempt to track the moves of something else, like gold for example, on a daily basis. It's for the short term only. They say you should only hold it for a few days, but I have held a few for several months and made a good profit (30-40%). They will always go down in the long term though because of how they work. It's very fun for gold/silver right now because of the volatility from the euro crisis. Tomorrow is going to be another fun day as it looks like there will be a run on greek banks. You never know if they are going to announce more QE/LTRO or other shenanigans though. It is just gambling.
and when I say fun, i was watching my inverse sliver making about 300 a MINUTE today at one point, awww yeah. I failed to sell though and it ended lower, still a 3.4% gain though for the day. I have a feeling tomorrow it will open quite high after people stew on the greek thing overnight.
Associate
- Joined
- 28 Jan 2005
- Posts
- 1,124
Whats caused this massive drop?