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Uk shares for a living

This is a discussion on Uk shares for a living within the UK Shares forums, part of the Equities category; Originally Posted by stocktrader77 yes its definately doable, I pair trade US & UK stocks. Good , can u give ...

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Old Jan 17, 2009, 12:13am   #17
tar
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Originally Posted by stocktrader77 View Post
yes its definately doable, I pair trade US & UK stocks.
Good , can u give an example for pair trading in uk shares ? is it profitable if u pair trade uk shares on a daily basis .
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Old Jan 17, 2009, 7:33am   #18
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Etrade are quite reasonable for CFDs comm is £9.95 per trade and its as good as DMA, irarely get slippage and the fills are mostly instant if there pretty much that size on the order book.
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Thanks! The post above is recommended by: brutusdog
Old Jan 17, 2009, 8:08am   #19
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thanks Nunrgguy
I was certainly talking about daytrading, yes
are you sure the spreads are wider in the UK?
I thought that if I stick to the more liquid of the companies that make up the FTSE 100 there was not a lot to choose?? maybe I was mistaken?
do you know if I have to pay stamp duty even if I don't live in the UK and of course don't pay taxes in the UK?
I'll worry about CGT if and when I ever actually get there.
as for the shorting ban, are you referring to the so called "uptick rule"?
surely you don't mean shorting was banned outright?
I'd not only need to be able to short, but also be able to short on a downtick. Obviously if this is not possible my strategy goes out the window. So could anyone let me know for sure what the shorting situation is in the UK

Anyone want to comment please? especially if you happen to be absolutely sure about any of these points

thanks
I've done a lot of trading with UK companies and have always been disappointed with the slowness of the exercise, especially for day trading. Then, I have been caught on opening gaps the next day when I have held overnight. I must say that the gap has, also, opened in my favour on occasions but, still, I reverted to index trading, in the end.

I have an idea that day trading UK companies is likely to be a "slow boat to China" compared to other instruments but would be interested to read of success stories from anyone.

I know of one person on this board who was shorting Black Rock eighteen months, or more, ago and, as far as I know, was doing it up until shorting was banned. Get something like that and you are home and dry!

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Old Jan 17, 2009, 9:25am   #20
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Yeah it is boring to day trade uk shares , but maybe there is an edge somewhere in it , example : what about trading med cap companies shares in some sectors after comparing it with other shares in the same sector , maybe it will be late to follow the same sector shares , any ideas guys ?
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Old Jan 17, 2009, 9:42am   #21
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Splitlink

Yeah it is boring to day trade uk shares , but maybe there is an edge somewhere in it , example : what about trading med cap companies shares in some sectors after comparing it with other shares in the same sector , maybe it will be late to follow the same sector shares , any ideas guys ?
You have to be careful with the spread. They are likely to be best within the top 350, otherwise they too wide for my taste.

There is an edge. Know a bit about the companies, what you think the fundamentals are. I believe that that is as important for share trading as is TA because of what I said before i.e. gap openings. Company calendar dates for finals, etc., but there are always surprises.

I thought that Daily Mail was good a few years ago and I bought them. They were in the process of selling their free press arm and, in the middle of the night, released the news that they had decided not to. My shares opened well down and, in the end I closed out with a loss of 80 pence. I don't think that I could have forseen that
and these surprise company decisions are what gives shares these spectacular moves that are hard to see coming.
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Old Jan 17, 2009, 9:48am   #22
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You have to be careful with the spread. They are likely to be best within the top 350, otherwise they too wide for my taste.
I agree , but what about the min idea anyone had tried it b4 ?
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Old Jan 17, 2009, 1:10pm   #23
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You have to be careful with the spread. They are likely to be best within the top 350, otherwise they too wide for my taste.

There is an edge. Know a bit about the companies, what you think the fundamentals are. I believe that that is as important for share trading as is TA because of what I said before i.e. gap openings. Company calendar dates for finals, etc., but there are always surprises.

I thought that Daily Mail was good a few years ago and I bought them. They were in the process of selling their free press arm and, in the middle of the night, released the news that they had decided not to. My shares opened well down and, in the end I closed out with a loss of 80 pence. I don't think that I could have forseen that
and these surprise company decisions are what gives shares these spectacular moves that are hard to see coming.
Yep, i don't like holding anything overnight as the openi g gaps can be a killer, RIO and the other miners regularly open 50p different...ouch!
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Old Jan 17, 2009, 9:08pm   #24
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Good , can u give an example for pair trading in uk shares ? is it profitable if u pair trade uk shares on a daily basis .
Sure, Il start a journal next week documenting my trades in real time to prove it can be done.
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