Trading the stockmarket (NO Referrals)

Fellas,

Seriously looking at starting to trade and looking to open an account with x-o.co.uk - I don't currently have an ISA, and so would think that an ISA account would be best?! Presumably this would keep me free from CGT and other nasty taxes? The ISA allowance is £10,200, but do I have to immediately buy that much stock, or can I add it at will over the tax year? I probably have about £2k 'free' to play with now, but will have more soon...
 
TheDean said:
Fellas,

Seriously looking at starting to trade and looking to open an account with x-o.co.uk - I don't currently have an ISA, and so would think that an ISA account would be best?! Presumably this would keep me free from CGT and other nasty taxes? The ISA allowance is £10,200, but do I have to immediately buy that much stock, or can I add it at will over the tax year? I probably have about £2k 'free' to play with now, but will have more soon...
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It depends what you want to trade...

I chose a Self Select ISA to get started because I didn't want the hassle of complicating my tax return, and wouldn't see me liable to CGT if things went well. A downside is that I can't trade AIM using my ISA account.
 
Opened an account with X-O couldnt be more simple if you tried. Got a few shares in Dominion Petroleum and a few in Xcite energy. Ill see how they pan out :)

Jay
 
Kingy said:
It depends what you want to trade...

I chose a Self Select ISA to get started because I didn't want the hassle of complicating my tax return, and wouldn't see me liable to CGT if things went well. A downside is that I can't trade AIM using my ISA account.
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I'll just be trading on the FTSE I imagine - Does that matter? What would I be able to trade with an ISA account? x-o.co.uk allows two types of account: normal or ISA, but the ISA option asks for bank details and a 'subscription amount'. Now I want the facility for the full £10,200 but am only wanting to put just over £2k in now. What do I put in as I don't want them taking £8k too much or indeed not being able to top up to my full allowance before the tax year ends?
 
TheDean said:
I'll just be trading on the FTSE I imagine - Does that matter? What would I be able to trade with an ISA account? x-o.co.uk allows two types of account: normal or ISA, but the ISA option asks for bank details and a 'subscription amount'. Now I want the facility for the full £10,200 but am only wanting to put just over £2k in now. What do I put in as I don't want them taking £8k too much or indeed not being able to top up to my full allowance before the tax year ends?
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I'd never heard of x-o.co.uk before, so I'm with iii instead. That allowed me to do what you want, in that I put a smaller chunk into the account before topping it up later in the year. I didn't use a subscription amount, I just made a payment as and when I wanted.

It would be worth checking if what x-o.co.uk does about corporate actions and so on... Is it so no frills that it dosen't get involved? I wouldn't want to invest a company that launches a rights issue that I couldn't subscribe to...

Are you planning to trade, or invest?
 
Kingy said:
I'd never heard of x-o.co.uk before, so I'm with iii instead. That allowed me to do what you want, in that I put a smaller chunk into the account before topping it up later in the year. I didn't use a subscription amount, I just made a payment as and when I wanted.

It would be worth checking if what x-o.co.uk does about corporate actions and so on... Is it so no frills that it dosen't get involved? I wouldn't want to invest a company that launches a rights issue that I couldn't subscribe to...

Are you planning to trade, or invest?
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Bit of both really....Initially trading, but when I get next years allowance (another £10,200 I hope) I'll be investing as well
 
TheDean said:
Bit of both really....Initially trading, but when I get next years allowance (another £10,200 I hope) I'll be investing as well
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Simon's is not the first experience I've heard to regret trying to sell high and buy back low. It sounds simple enough, but often the reality is that you get it wrong, and you'd have been better off to sit and hold.

If you're sure that trading is for you, consider if buying and selling shares is the best method. The likes of IG Index provide introductory courses to help you learn the ropes with spread-betting (also currently CGT exempt), and CFDs could also be considered.

The Golden Rule is never to gamble/trade/invest what you can't afford to lose. However I feel it is also important to differentiate between what you can't afford to lose, and what you don't want to lose, and bet accordingly. You certainly don't want to wipe out, but it's worth pondering if you might look back in months/years to come and wish you'd have bet bigger on some of the remaining recovery plays.
 
RRL trading down 6 - 10% today.

On the flip side, KEA and NTOG trading up 10 - 12.

Can't find any real news why RRL has dropped though, maybe people taking their profits?
 
I'm almost thinking it may be an idea to let a fund manger look after it all for me, and possibly look at investing in a few different funds. Anything to look out for or any funds come highly recomended?!
 
TheDean said:
I'm almost thinking it may be an idea to let a fund manger look after it all for me, and possibly look at investing in a few different funds. Anything to look out for or any funds come highly recomended?!
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Sunday Telegraph finance section gives a list of funds and top earners/losers etc. Don't know if that is of any help to you.
 
TheDean said:
I'm almost thinking it may be an idea to let a fund manger look after it all for me, and possibly look at investing in a few different funds. Anything to look out for or any funds come highly recomended?!
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It's worth remembering that there are using fees involved with funds.

Funds are very hands off, which is fine if you pick a good one, and makes a credible alternative to a cash savings account, but it would be a stark contrast to the sort of regular time that would be required to commit to trading.

Investing might prove to be a suitable half way house. Regarding tips, Questor is a decent read.
 
Call me "as mad as a box of frogs" but i've sold my RKH holdings.

Got in at 182 got out at 300ish, thats a good enough return on these for the moment, sticking the money into NTOG and RRL in hope of getting some more money together to stick back into RKH before we get the rig back.

We shall see if it works out, my thinking behind this madness is shorter term i have more chance of getting a 50 - 100% return on my money than in RKH which isn't going to double in value anytime soon.
 
Firestar_3x said:
Call me "as mad as a box of frogs" but i've sold my RKH holdings.

Got in at 182 got out at 300ish, thats a good enough return on these for the moment, sticking the money into NTOG and RRL in hope of getting some more money together to stick back into RKH before we get the rig back.

We shall see if it works out, my thinking behind this madness is shorter term i have more chance of getting a 50 - 100% return on my money than in RKH which isn't going to double in value anytime soon.
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Good shout, Im very close to selling 20% lot of my stock and putting it in a certain oil company (£4kish)
 
Simon said:
Good shout, Im very close to selling 20% lot of my stock and putting it in a certain oil company (£4kish)
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I was all set to play the game and hold onto RKH till they hit £5 or whatever these will eventually climb to (assuming good news), but whats the point?

As we all know the time some of my money is sat in RKH doing nowt (actually going down at the moment), its not working for me earning potential bigger shorter term gains someplace else.

verbal said:
You are as mad as a box of frogs! ;) What if NTOG and RRL don't go up?
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LOL :p

And thats the gamble, if my money goes up whilst sat in NTOG and RRL whilst the RKH shares keep coming down then i'm quids in, remember i can still break back into the RKH shares at exactly the same point provided they don't climb at a faster rate than NTOG and RRL, RKH seems stalled at the moment till they get the rig back, this downward trend is going to continue, the other two companys are due news soon.

Clearly the worst case is RKH go up and NTOG and RRL drop like a stone.
 
RKH have done an issue of new shares (£48m worth) to institutional investors at 280p. The price won't drop below 270p between now and when the rig returns.

Desire could release news about the Liz well test results which could boost RKH and if FOGL hit oil that will definitely boost RKH.
 
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