Dom
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Registered: 13th Sep 03
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quote:
Originally posted by Dave
quote:
Originally posted by James
Surely BA = British Airways?
British Airways is IAG now.
Yup, they merged with some Spanish airline last year to form IAG (LON IAG).
BA is BAE Systems on the London stock exchange.
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Whittie
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Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
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On this +500 thing why do they freeze sometimes, and you can't buy or sell?
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James
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Registered: 1st Jun 02
Location: Surrey
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quote:
Originally posted by Dom
quote:
Originally posted by Dave
quote:
Originally posted by James
Surely BA = British Airways?
British Airways is IAG now.
Yup, they merged with some Spanish airline last year to form IAG (LON IAG).
BA is BAE Systems on the London stock exchange.
Fail on my part, didn't realise you meant the stock symbol.
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Whittie
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Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
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I just deposited, shit just got real y0!
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Whittie
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Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
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Up to £142.75 after going down to £131.80 
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stevenc89
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Registered: 6th Apr 09
Location: East Kilbride
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whittie thats class mate lmao!!!!
dan see the +500 can you get to you're account from a computer or only just iphone?
I have just downloaded it, where is the best place to learn the general basics? just through youtube and google? If i learn the basics I will feel more confident with it!
Also now you have looked into trading have you been keeping an eye on current affairs? and looking into all the business chat online?
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James
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Registered: 1st Jun 02
Location: Surrey
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quote:
Originally posted by stevenc89
whittie thats class mate lmao!!!!
dan see the +500 can you get to you're account from a computer or only just iphone?
I have just downloaded it, where is the best place to learn the general basics? just through youtube and google? If i learn the basics I will feel more confident with it!
Also now you have looked into trading have you been keeping an eye on current affairs? and looking into all the business chat online?
Current affairs is less relevant for the short term real-time trading that this involves. Unless you are holding onto positions long term (which I believe you incur a charge for), I wouldn't focus on current affairs too much.
You could scan the headlines to give you an idea of which shares will have the most activity in a trading day though.
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Eck
Premium Member
Registered: 17th Apr 06
Location: Lundin Links, Fife
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Not got a fucking clue what I'm doing here  So far made a profit of 17p on Facebook and Lonmin
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stevenc89
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Registered: 6th Apr 09
Location: East Kilbride
User status: Offline
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james you seem very clued up, so with this app we are not looking into long term so how do you make the biggest profits during short term? and what markets would you read into for highest short term gains? sorry iam a complete n00b at this mate. If you can point me in the direction of some websites that may answer my questions that would be awesome mate
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Whittie
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Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
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Finished today on £162.58 Equity. I deposited £100 and had £20 bonus, so I've made £42.58 so far. Quite good going!
I've been pretty much looking at the graphs, buying when low in relation to the last week, and selling at a reasonable and not greedy rate.
I already think the key is patience. I've found the "Close Profit" option brilliant. Especially when it shows the lines on the graphs. Obviously I'm new to it all, so only learning atm.
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stevenc89
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Registered: 6th Apr 09
Location: East Kilbride
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do you turn the "close loss" and "closs profit" options on? any tips for companies to watch? going to have a shot in the usa market tonight and see what happens
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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Like whittie says we both done ok today buying things that are down over past days and have a decent average Alot higher than we are buying at. For example I bought 2 barrels of oil for 94.6 and sold an hour later making a profit of around 75p which considering of only invested less than a tenner. I returned 7.5% on my investment. I can certainly see how trader have a posh lifestyle!
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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I made 3 trades today. Taking it relatively serious now.
All 3 made a profit totalling £2.37 which started from £17.50
So over 10% return today.
However I have money in Nokia that's going to take a while to recover. It's losing me £5.01 at the moment. But I won't close this until I see a profit or it goes bust
It's proper exciting stuff lol
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Paul_J
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Registered: 6th Jun 02
Location: London
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It is exiting, I always found when I had open positions, I couldn't take my eyes off the market.
However, your worst enemy is emotions and avoiding common sense.
For example, if you think it's at the bottom of the swing and it's going to bounce back, you go long and buy, and it drops... you should cut your losses. What you thought would happen, hasn't happened. Cut it short and try a new trade.
The worst mistakes most rookies make is they let their losses run (in the hope it'll swing back) and they cut their profits short (because they're just so happy to have some positive gain, they get scared in case it reverses).
Basic analysis / indicators
A strategy for how you will consistently trade a profit
Good bankroll management
And being able to emotionally disconnect from the decisions you make are all required to consistently make a profit, otherwise it's just pure luck and will most likely end up all broke.
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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Taking a decision on when to cut losses and when to take profit is something I don't get yet.
Any pointers Paul?
Bearing in mind we are day trading I would assume its classed as?
I can see these Nokia shares proper killing me. Preying for a recovery when the market opens lol
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willay
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Organiser: South East, National Events
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Registered: 10th Nov 02
Location: Roydon, Essex
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yeah its day trading/scalping, what you described earlier buying one hour and selling in the other is what most of the day traders do, but they are just doing the same trade with a bigger clip size and doing alot more trades every hour. Though I've only dealt with people trading futures which I believe is ALOT faster then shares.
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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Futures includes commodities does it not? That's all I've been trading except the Nokia shares. Seems to be much bigger swings like oil going 2 quid a barrel in 24 hours
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Whittie
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Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
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I've set price alerts for Oil now. If it drops to 94.5 i'll buy some barrels.
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James
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Registered: 1st Jun 02
Location: Surrey
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I'd probably trade commodities, but only because it's the only market I know anything about.
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stevenc89
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Registered: 6th Apr 09
Location: East Kilbride
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decided commodities is my best bet
I have money in nokia aswell, not going well at the moment. might jump ship
got money in oracle aswell
total n00b!!!
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James
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Registered: 1st Jun 02
Location: Surrey
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Commodities is an interesting one long term, stuff like power and gas has seasonality within the pricing based on the seasonal demand, so power is cheaper in winter and gas is cheaper in the summer.
Plus you have relationship between power and gas, because gas can be used to generate power, so when the gas price increases, it increases the power price.
I think natural gas futures are a good one as they are quite basic, you don't have to factor in stuff like how the freight/shipping markets are doing or stuff like refinery costs that you would get with oil and refined products.
But still, for real short-term stuff you will mostly be trading off the back of technical analysis and price trending.
[Edited on 06-09-2012 by James]
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Daniel_Corsa
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Registered: 21st Apr 04
Location: Wigton, Cumbria
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Having a go with this +500 thingy me bob
April '06' Corsasport Feature Car  | Aug '08' Total Vauxhall Feature Car | Spring '09' Fast Car Feature Car
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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Is this what you do for a loving James?
Where can I find good free advice on technical analysis?
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James
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Registered: 1st Jun 02
Location: Surrey
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quote:
Originally posted by Dan
Is this what you do for a loving James?
Where can I find good free advice on technical analysis?
I'm a Commodities Trading Consultant. I don't actually trade and most of my knowledge of how to make profitable trading decisions is limited, but I know the markets well and know quite a lot about risk management.
YouTube is probably good for technical analysis. It's one of those things that is quite hard to explain in a book, so ideally you need to see it in action.
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Matt L
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Registered: 17th Apr 06
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I want to try this at some point but wouldnt get chance during a day to monitor it  .
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