Trading Tips

[fillyboy]

Actually the more I read on this thread the more fascinated I become with it all but the more I realise that I am way out of my depth in being comfortable with it, so your comment was actually correct. BUT I am going to put a 5k investment into an ISA for 3 Years to see how that goes. I wouldn't have done that before this thread.

And a pair of braces, you need braces.

 

[Highway Man]

And a pair of braces, you need braces.

OMG yes, nobody has even mentioned those..

 

[motorbiking]

My uni mate, became an Fx trader, he said they used to go for a drink after work and whoever had the least amount of cash in their wallet had to pay.

 

[Wayners]

Has anyone here discussed the mental side and how you feel when you buy a global fund.
For me I run my business in my overdraft for years.
I think I was probably on paper bankrupt more than once.
Bank was charging around £1.50 a day plus transaction charges.
If I stopped working and earning I was done.
I run like that for years then I woke up. Changed my life. I had to as I was depressed with the situation.

If you can get to the situation where you have a small pot that you know will grow it makes you feel good. Well it has with me.
Gives you self worth.
You know you have a plan B if things go wrong.
Because it takes a bit of effort to get money back, you are less likely to buy some polished glass or drum kit you don't need when you need a mental lift..
You look at a iPhone or ice-cream or a car you can think I own some of that.
Makes me feel good.
I want others to feel the same. I see so many that have given up on themselves and their prosperity.

 

[Wayners]

@Highway Man
Open a trading 212 account.
Put 4k in ISA.
Buy 1k in a global fund.

You can make 2 withdrawals I. Think with the ISA without penalty.

See how you go

 

[motorbiking]

When I was planning my retirement using Claude.ai. I was discussing some of the mistakes I'd made with investments. For example one stock I hold had lost 40% of its value in 6 months, I regretted not selling more at the top. It politely reminded me that I was still up 2000%

 

[Highway Man]

@Highway Man
Open a trading 212 account.
Put 4k in ISA.
Buy 1k in a global fund.

You can make 2 withdrawals I. Think with the ISA without penalty.

See how you go

Thank you

 

[fillyboy]

When I was planning my retirement using Claude.ai. I was discussing some of the mistakes I'd made with investments. For example one stock I hold had lost 40% of its value in 6 months, I regretted not selling more at the top. It politely reminded me that I was still up 2000%

Tesla?

 

[fillyboy]

@Highway Man
Open a trading 212 account.
Put 4k in ISA.
Buy 1k in a global fund.

You can make 2 withdrawals I. Think with the ISA without penalty.

See how you go

Sound advice.

 

[motorbiking]

At the moment you can exchange S&S ISAs for cash ISAs and vice a versa. Rachel Reeves has banned converting S&S ISAs next year for under 65s. What is unclear, is what would happen if someone liquidated their S&S ISA and just left the cash in the trading account earning interest?

 

[motorbiking]

Tesla?

No I did OK on Tesla. Sold it a bit too soon. But Elon appeared to have gone mad at the time. I have since learned he goes mad to get shorters to short so he can bankrupt them.

I bought a lot of ORCL shortly after the burst of the dot.com bubble, they were buying lots of companies and I had been involved in many of the acquisitions they were making doing grunt work on IP ownership. Avg purchase price has been around $5-30. I sold a chunk 6 months ago after Justin alerted me to their spike up, but I thought they might be the next $1trn tech, so held on. they recently went from 350 to 134, I bought back in at 160.

I can't really do frequent "trading", because of the taxes. It's going to take me a year to 18 months to get that fixed. I appreciate its a nice problem to have, but I just don't want to be paying Rachel Reeves 50% tax, so I tend to keep things for a time when my rate will be much lower.

 

[Wayners]

Now you have a stocks ISA.
You have money sat in it ( cash) waiting to buy stocks. If sell your stock that sits in the cash pot as well .
Now that cash sat there earns 3.8% per year paid daily which is slightly less than the the completely separate cash ISA.

So if you open a stocks and shares ISA and transfer money in but don't buy anything you still earn interest on that held cash which is paid daily.
Here is the payments I received last year.
I like the fact interest is paid daily.
I haven't bothered with a standard ISA

 

[Highway Man]

Sound advice.

very sound advice, I just hope to god nobody now comes on with a load of jargon to crush my confidence. These graphs and indexs just throws it out of the window for me.

 

[Dereekoo]

3.8

Now you have a stocks ISA.
You have money sat in it ( cash) waiting to buy stocks. If sell your stock that sits in the cash pot as well .
Now that cash sat there earns 3.8% per year paid daily which is slightly less than the the completely separate cash ISA.

Thats a good rate, AJBell only pay 1.75 on the pretext that it enables fees to be kept low

 

[Wayners]

@Highway Man

Open trading 212.
Just select the stocks ISA tab.
Just that one. Nothing else.
Answer questions to open account. They have to ask the questions for legal reasons so just answer them.
Sign form. Basically tick box..
Transfer £10 in.
Buy a global fund.

Come back when you have done that.
We can move to the next step.