General Chat Thread, Buying Shares in General; ...
14th June 2010, 09:34 AM #16
My shares are sorted by a PFA (my brother haha). Basically, he said do you want low/medium/high risk shares, I said high, and he did the rest. They are managed by an account manager which costs no more than £50 per year. The first couple of years I made a loss with the recession, but as advised I put more and more money in, and I got the statement the other month to see I've gained by nearly £2000 in the last 12 months (on an account with £5000 in!).
I tried the DIY way before, but was a pain trying to keep up with it. Now a professional does it for me and I don't have to worry. I'd seriously recommend that if you wanted to do this to do it the 'easy' way. Also, may sound obvious, but don't put EVERYTHING you have into shares. They can be seriously high risk and it always pays to have other forms of saving/investment too.
14th June 2010, 09:38 AM #17
mrwITch and I use the motley fool site and find it quite useful. the best thing to do is to start small with a bit of money that you 'could' lose if push came to shove. Play around with that for a bit before you really start using money that you cannot afford to lose
Last edited by witch; 19th June 2010 at 10:46 AM.
14th June 2010, 10:51 AM #18
I use The Share Centre | Buy & Sell Shares With A Share Account for dealing in shares. You can pay a quarterly fee to get reduced trade fees as well. Really easy to use website and they are very helpful on the phone as well. You can also set up a practise account with £15k in it to play with first. I got mine to in excess of £23k in about a month despite dropping to £11k at one stage.
My stepdad does this for a living now he has retired and last year made a profit of a 1/3 of his origanal investment. He bought the sharescope software ShareScope - the UK's Best Investment and Trading Software and it is brilliant!! if you pay for level 2 it gives you live trading room floor pricing and you can watch the way the lines are moving and decide whether to jump ship or to hang tight!
If you dont want to pay for the software then the yahoo finance charts are some of the best as you can edit them to add bolinger bands etc. The google finance gives you a weekly news as to what companies are going to be releasing there results this week and also in the next couple of weeks so you can jump on if they are going to be good results and make a very quick profit!! My record is £800 in 3mins.
Another good website is London South East - Stock Quotes, Charts, Trade History, Share Chat, Financial Terms Glossary as you can look at all the chat and reports for companies and also add all your shares to one portfolio so you can see how your doing at one quick glance.
14th June 2010, 11:16 AM #19
About 10 years ago while I was still in school (!) there was a virtual trading site running, i've long since lost the address to it, but it ran directly off the yahoo financial feeds.
I actually found it quite fun as a teenager! The thing to remember, is there's no such thing as a "Get rich" scheme, be it quick or over a long period of time. You can play on the margin's, which can be high risk, and the potential profits if done right can be great. Or you can play on investment over time.
Buying into a football club, BP, or if you'd been a poor bugger with shares in Rover, would be likely a bad move. Investing in larger companies, such as Google, Microsoft, or other companies tied to new technology will likely be a good move over a longer period of time.
I am actually eyeing up AMD shares, and wondering if I can get in on those; they slumped last year big time, but have been rising fairly steadily since; the fact that they now have some tech on the market that doesn't suck is helping rather a lot!
14th June 2010, 11:21 AM #20
Sorry to go slightly off topic but if you just want an investing medium not specifically shares you could try something like Zopa. Basically a community bank where you put money in, set a rate you want to receive and away it goes. Meant to be about 8% at the moment. Not risk free but your risk is minimised by no single person lending all the money, they split the loan across a few people. Been around for a fair few years so not fly by night.
Just an option.
18th June 2010, 10:58 PM #21
My copy of the naked trader arrived Wednesday, and I have to say it is a good easy read. I've also now signed up on ADVFN (free), the book has been a help in getting me started on here to.
19th June 2010, 09:56 AM #22
Can I just say that people should NEVER invest money that you cannot afford to lose.
Play around with that for a bit before you really start using money that you cannot afford to lose
People are talking here like its some sort of game/make money - you basically only make money if someone else loses it - and vice versa.
You hear much more from people who've made money - the ones that didn't tend to keep quiet.
For an example, I had a spell of online poker gambling - did really well on the practice tables - did really well on low stakes (moved from £25 to £34 over a month ) so I decided to move up and had lost my entire £25 in about a week.
And if you think that margins dealing is different from online poker then you've not got a good grasp of the situation!
Work to earn money until you make millions and then invest it in something that gives you a return and keeps other people in works as well
I've never lost money on share dealing BTW - but that's only because I was given the initial shares for free in the first place!
19th June 2010, 10:31 AM #23
I only work in the day to enable me to do my real job, that of a musician
Originally Posted by SimpleSi
Thanks to joe90bass from:
SimpleSi (19th June 2010)
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