Does anybody Swing trade uk stocks?
Is it feasable with the cost of trading in the UK?
I am a position investor, I hold for long periods until I see
some sort of profit , not much of that either.
Can anyone enlighten me please?
I used to swing trade UK stocks, and the cost of trading isn't too bad if you use a spreadbetting company as the spreads tend to be the actual market price and no commission or stamp-duty to pay. Of course you have to use them sensibly and realise that you are trading on margin.
The only problem with the UK is that it moves slower than most other markets, which isn't a problem if your holding for longer periods but a pain for short-term moves.
If you can be taken literally can you take my £6.75m fortune and basically beat the FTSE pls!!
Normal fees apply....
On a more sobre note, out of interest re the US are you using major names or searching further for small and mid caps? If youare holding for more than a day trade I wd guess you are doing both. Go on, give us your favourite names!!
I am currently watching a couple of US specials outside of main trading names that should do well: LBIX and ELNK. I know enought about em to be dangerous so be warned!
Do you use IB for straight equities? I am just opening an account with them - they were recommended by RogerM whom you may know from this site. Thanks for your names which I may add to my broader watch list. Keep in touch...
I swing trade FTSE100 stocks. But I spreadbet them as FTSE does. I use a very simple AIQ screen and Pfscan to do reversal scans for me every evening. I make about three trades a week with this method and I plan to increase the activity a bit in March when I am full time trading. I normally hold about three days.
Thankyou for your replies FTSIE & Helen, you prompted me to look
at Tradindex which has recently introduced UK stocks on its agenda, well, they call them futures e.g. expire on a future date,
obviously! As I see it I can close at any time.The stocks which have been selected, in general, have a high volatility which are ideal for my purpose.
Bill G, font apologies for previous post. A stop loss does not gaurantee that you will exit your trade at that level, for instance if the market gaps on opening and the brokers can't get the orders in. A gauranteed stop loss (GSL) however is gauranteed...most spread betting companies clarify the distinction and you would pay more with a wider spread....with Tradindex the GSL is conspicuous by it's absence...hope this helps....