I'm a student currently with £1000 capital available, is there any possible way i can start trading? I've had success through paper trading, and would be interested in finding out how to start properly, however i have no idea how to go live ? I know you may say it's pointless with such a low capital, however this is spare money that i have and am able to throw around, so am interested in seeing if i can do anything with it? Any help appreciated. I have looked into penny stocks but have no idea how to start? Even if its just making or losing a few hundreds, even a few 10's , even a dollar or a pound, in sense, i'm really just looking for a little experience with real money.
Hey, just signed up and read this post; coincidence that I'm in a similar situation (student with a little spare cash). As we both know, wealth gets eaten away by inflation, so the best intention would be to store that wealth in something that might appreciate in value.
For the purposes of diversification and liquidity (low trading fees considering the sums you may wish to put in) I chose spread betting (though due to the nature you'd have to avoid stocks with a big price such GSK at £1 a point would be a larger investment than you have in cash).
Recently did well on 50p a point of morrison and ladbrokes stock; nationalgrid at 25p a point in the starting month did good too. (I chose cityindex if that helps).
For the purposes of diversification and liquidity (low trading fees considering the sums you may wish to put in) I chose spread betting (though due to the nature you'd have to avoid stocks with a big price such GSK at £1 a point would be a larger investment than you have in cash).
Recently did well on 50p a point of morrison and ladbrokes stock; nationalgrid at 25p a point in the starting month did good too. (I chose cityindex if that helps).
Did you use the "learn to trade" option when registering? What's your profit/loss?
M
malaguti
decide what you want to trade and then choose a broker, there will be many whichever market you choose
However, when you say you have been paper trading, how long for? Have you got a strategy, or is this just off the cuff sort of trading, and you've happened to be successful
do you have a log of your stats; win loss ratio, highest win, highest loss, average drawdown etc
if its a no to this..then I would continue paper trading until you have a strategy that gives you a profitable equity curve and then paper trade THAT.
when that is going good, then you might be ready to give that 1000 a go. Until then, I'd say hang on until you can do it all in theory..both in up and down trends. Anyone can make money when its going up like it is, but what if it turns?
Will you be ready then?
The markets always going to be there, so there's no rush
I've only been going for a month (as a student you'll understand, summer is a good time for spare time). In this time I've opened approx £750 across 7 positions for a loss of £3.50 (spreads have cost ~£4.80 - reiterating that it may introduce a lower commission when trading small lots). So yea, at 0.5% movement; there's nothing to go on here.
I'll agree with malaguti that the markets always there; I have no open positions at the moment because of my outlook, so I'd repeat to absorb what knowledge you can and have a plan.
As for looking around at brokers etc; my tale is of the previous company I was with - happily bet there and got my money back, though a few months down the line did realise it wasn't FSA registered; hence my fund withdrawal and subsequent suspension of trading there. The moral being that there is no rush and you should look around and research what's best for you.
NVP
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hey dudes ........
leave the money in the bank and spend 6-12 months researching the markets, systems and ideas first using the big forums
build that knowledge first and dont come in guns blazing
and dont pay for a sellinar to tell you what is out there for free
its all about putting the time in guys ..............sounds cliche but its true
N
leave the money in the bank and spend 6-12 months researching the markets, systems and ideas first using the big forums
build that knowledge first and dont come in guns blazing
and dont pay for a sellinar to tell you what is out there for free
its all about putting the time in guys ..............sounds cliche but its true
N
NVP
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dont put your money with anyone whilst learning ..........the safest place for money is always in your account !!!
jees.......
N
