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iceman121

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hello,

im have a few shares in a few companys but want to expand, can any1 tell me where to get a good book from so i can swot up on how to investand make some money please?

cheers
 
If you are determined to make money from buying shares, holding for dividends and selling shares that have grown, as a shareholder rather than a trader, try the Zulu Principle and Beyond the Zulu Principle, both by Jim Slater.
 
For actual trading strategies and techniques, this site can teach as much as many very expensive books.

However, my best book sources have been -
Steve Nison on candlestick charting
Marc Rivalland on swing trading
Rashcke and Connors on short-term strategies
Mark Douglas on attitudes and psychology
Alex Elder on money management

Plus maybe Sun T'zu for confidence
 
iceman121 said:
Im looking to start trading what books could i look at for that?

cheers:smart:
Click to expand...

do a google for 'trading'. then click on 'books' at the top of the page. that will give you a lot to look at.....

and perhaps some sources where you can find some free ebooks to download.

At least you will be able to make a list to take to the library, although not all libraries have a great supply of investment type books.
 
where do i start, im new to trading. i have a few shares in different things but i want to start trading rather than hanging on to them.
 
iceman, you've made a good start by being here, there's lots of free information and guidance, by real traders, not book-writers or newsletter vendors.

Start with what you have. Are your shares in profit where they are now? If they're in the money, are they rising further? If not, what are you waiting for?

If you're down on a share, where will you get out: -10%? -50%?? -90%?!?!?!? If you are down on your shares, and close the losers, will you still be able to trade or are you wiped out? Being wrong isn't bad its just an overhead of trading: its staying wrong that is dangerous. Before buying another share, work out what you could lose before you start dreaming of what you could win. Work out what price the share wiould have to go to to prove you were wrong to buy it: if you are wrong, get out.
 
thanks for the advice, i have currently got them in banks and housing at the mo, would you suggest to invest somert like oil gold etc
 
I can't suggest the best sectors, and I don't think many people can. I look for prices that are moving and join the trend. The last thing to do is buy, say, pharmaceuticals because the population is ageing, or supermarkets because we all need to eat.
 
1 more thing, sorry to ask you, do know a broker, im currently with halifax share dealing but want to change any ideas
 
Lots of brokers offer lower commissions, sometimes for 'frequent traders'. Worth using one with good customer service reputation from T2W members, UK-based so they are FSA-regulated, with useful and reliable online platform and maybe some useful research or online tools for clients
 
iceman121 said:
thanks for the advice, i have currently got them in banks and housing at the mo, would you suggest to invest somert like oil gold etc
Click to expand...

I don't think commodities are a good place to start trading to be honest.


You will hear conflicting views on this, but you might consider spread-betting as an approach, and I would strongly suggest starting on a demo account, if only to get used to the "mechanics" of it all first.

As you seem to be into Equities, IG Index may be a good bet, as they have a wide range of shares available. However, I don't know if their demo platform includes everything the live one does.

You might also look at Mr Charts' long-running thread in the equities section of this forum, especially the beginning. Note that it is a short-term strategy, not a buy and hold, or position trading approach. Trades are not held overnight. It is not the only approach by any means, but it might be a way of getting into share trading.

Spread betting is a relatively low-cost-of entry way of getting into trading, and profits are tax-free (but losses are not tax-deductible! :) ). It can however, be very high risk if you don't know what you are doing which is one reason to demo first.

Actually demo-trading commodities might not be such a bad idea after all because you might then see how tricky it can be. Note that winning on demo does not guarantee that you will win live trading; they are different for several reasons. It does give you a start though.

Note that with spread-betting, at no time do you ever own the shares you are buying or selling. All you are doing is making a bet on their price. If you are a large trader, it is possible the SB company might take a position in the underlying market to hedge its risk. More likely it will only take positions based on the net positions of all of its active clients. Either way, you do not need to be concerned about that at any stage. Once your trade is closed you just move on; no share certificates to think about; no commission; no worries ... :) Well, not those sort of worries anyway.
 
i think i might have a try of spread betting to get use to the markets. any ideas what i can depost my first payment on?
 
Hi iceman - Many SB firms allow you to run a demo account before you put real money in. This would allow you to get used to the mechanics of SB, their platform, selecting targets and entry points etc. It is usually not a direct replication of the true market so success with demo money shouldn't be taken to mean it will be that easy and the things you have tried will work in exactly the same way in the real world. Also, managing a position containing no hard-earned cash is easy - no risk. As soon as possible, put some real money in - SB firms often allow very very tiny stakes for new clients.
 
im sorry to be a pest, share dealing is they an app i can get for my blackberry so i can keep an eye on the markets as i move around, would you suggest anywhere to invest at the moment and how often would you sell?

if its silly questions sorry.
 
One of the talking heads on CNBC yesterday (-15% day) BP
Said that even though BP was spending 1B on clean up they still earned 5B this month. So there's plenty of Money for this and the -15% down wasnt justified. Today alot more analysts came on and said the similar type stuff. BP is of Value yesterday and today they all jumped on board. ExonValdez they said was only like a 500M judgement and it took like 12-15 yrs. Meanwhile BP will make somthing like 300B+ before they ever get through the court systems.

LTerm flyer or maybe some LEAPS
 
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