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Author Genuine Portfolio People....
willay
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30th Aug 12 at 08:22   View Garage View User's Profile U2U Member Reply With Quote
Will be a con, LEARN HOW TO TRADE AND SUCK DICKS FOR £19.99!! 10 DAY COURSE!!!
Dan
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30th Aug 12 at 08:39   View Garage View User's Profile U2U Member Reply With Quote
So if people are interested in learning. Where should they start?

Adult GiftsClick here to vist us
James
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30th Aug 12 at 08:42   View User's Profile U2U Member Reply With Quote
Lex Van Dam is one of the best in the industry, however I'm led to believe that book is utter toilet. He runs all these boot camp type things. He also ran that TV show that tried to make traders out of random people.

You are right, anyone can trade. Starting trading and being successful at it are 2 different things. First you need a strategy, what are you going to trade and how. What kind of analysis are you going to do? Then there's risk management and hedging. There's an element of psychology involved too, you need to know when to cut your losses.

If you want to read a book about it, read "Come into my trading room".
James
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30th Aug 12 at 08:49   View User's Profile U2U Member Reply With Quote
Actually, "one of the best in the industry" is probably a bit generous. He is just a good hedge fund manager.
James
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30th Aug 12 at 09:01   View User's Profile U2U Member Reply With Quote
Interesting point on one of the Amazon reviews for Lex's book:

quote:
I am not certain that the author is as successful as claimed. Successful hedge fund managers can make tens of millions of pounds a year. I don't think that they would bother with running on-line courses and writing very basic books like this.


Sounds like a bit of a Robert Himler.
willay
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30th Aug 12 at 09:03   View Garage View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Dan
So if people are interested in learning. Where should they start?


I imagine a good foundation of economics is the first step, perhaps read a couple of books like Market Wizards or something. Understand how the market works and why.

Its all basically gambling so its going to be right up Whittie's street.
James
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30th Aug 12 at 09:22   View User's Profile U2U Member Reply With Quote
It's quite difficult to start when you have a full time job as well. You need to be able to react quite quickly if required. Obviously the UK stock market is open during the day so if you are at work, you are a bit stuck.

The other option is to trade a 24-hour market like FX.
willay
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30th Aug 12 at 09:23   View Garage View User's Profile U2U Member Reply With Quote
FX is a good shout
Dan
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30th Aug 12 at 09:27   View Garage View User's Profile U2U Member Reply With Quote
I work shifts and have from 2pm onwards and till 1pm depending on shifts.

Something like this has always appealed to me. Even just on a practise account. I guess that's the gambling side :/

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Cavey
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30th Aug 12 at 09:30   View User's Profile U2U Member Reply With Quote
I chose to watch At the races from 2pm each day instead
James
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30th Aug 12 at 09:35   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Dan
I work shifts and have from 2pm onwards and till 1pm depending on shifts.

Something like this has always appealed to me. Even just on a practise account. I guess that's the gambling side :/


It can be quite exciting, but you need to fully understand the risks associated with it. For example, a lot of people don't realise that with spread betting you can end up losing more than your initial margin.

I'd start simple and look at cash equities, then learn about equity derivatives for risk management.
Dan
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30th Aug 12 at 09:39   View Garage View User's Profile U2U Member Reply With Quote
Until I get my laptop back from repair I won't look at anything. Too hard on iPhone or iPad lol.

I do fancy having a dabble and try learn a bit properly. Only for a practise money account though.

Sounds like something to fill spare time with.

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Dom
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30th Aug 12 at 09:56   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by James
It's quite difficult to start when you have a full time job as well. You need to be able to react quite quickly if required. Obviously the UK stock market is open during the day so if you are at work, you are a bit stuck.

The other option is to trade a 24-hour market like FX.


American and asian markets in general are also worth looking at due to the time difference.


[Edited on 30-08-2012 by Dom]
Whittie
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30th Aug 12 at 10:09   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by willay
quote:
Originally posted by Dan
So if people are interested in learning. Where should they start?


I imagine a good foundation of economics is the first step, perhaps read a couple of books like Market Wizards or something. Understand how the market works and why.

Its all basically gambling so its going to be right up Whittie's street.


So true.

I looked at the course, but he's obviously a bellend. I'm going to buy a book to learn more about it myself though, it's something i've been interested in for a while but not been in a position to do anything about it.
Dan
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30th Aug 12 at 10:37   View Garage View User's Profile U2U Member Reply With Quote
There's an iPhone app for +500

Gives £20 free cash with no deposit.

Worth a go if you wanna play about with no losses possible. At least if you make any money it's yours

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A2H GO
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30th Aug 12 at 10:58   View User's Profile U2U Member Reply With Quote
Is this not as simple as sticking load on Apple now and putting your feet up?
Whittie
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30th Aug 12 at 11:03   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by A2H GO
Is this not as simple as sticking load on Apple now and putting your feet up?


A load? Theyre about $660 per share
Dom
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30th Aug 12 at 11:06   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by A2H GO
Is this not as simple as sticking load on Apple now and putting your feet up?


Well you wouldn't buy Apple stock, not at $670 (about the highest it has ever been) a share anyway
James
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30th Aug 12 at 11:07   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Dom
quote:
Originally posted by A2H GO
Is this not as simple as sticking load on Apple now and putting your feet up?


Well you wouldn't buy Apple stock, not at $670 (about the highest it has ever been) a share anyway


That's where CFDs come in. Although they suffer from the same risks as spread betting.
Dom
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30th Aug 12 at 11:16   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by James
quote:
Originally posted by Dom
quote:
Originally posted by A2H GO
Is this not as simple as sticking load on Apple now and putting your feet up?


Well you wouldn't buy Apple stock, not at $670 (about the highest it has ever been) a share anyway


That's where CFDs come in. Although they suffer from the same risks as spread betting.


From what i know, you can't use CFDs on American exchanges/stock.

Edit - From my limited knowledge, Shorting would be an option though.

[Edited on 30-08-2012 by Dom]
Dan
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30th Aug 12 at 11:17   View Garage View User's Profile U2U Member Reply With Quote
This plus 500 thing is all cfd's

I got the free £20 put it on a few things and have lost .36p so far haha. Changes like the wind though. Until I have a laptop im just gonna fuck about with this app and the £20 they give me.

Adult GiftsClick here to vist us
Whittie
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31st Aug 12 at 09:45   View User's Profile U2U Member Reply With Quote
Can you withdraw it Dan
James
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31st Aug 12 at 09:52   View User's Profile U2U Member Reply With Quote
CFDs are OK if you want to feel like you are trading. But they are very risky compared to trading the underlying asset.

I'd look at iii, it's a bit less real-time and you can't make as many trades because of the fees, but it's less risky.
Dan
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31st Aug 12 at 12:10   View Garage View User's Profile U2U Member Reply With Quote
What's iii?

Fees are factored in to the share prices. Risk is maximum of your deposit or bonus on this plus 500. So I can't lose anything lol.

Just fucking about understanding it all. Made 10% yesterday. Sitting about even today.

It can be withdrawn whittie after something like 100 trades

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James
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31st Aug 12 at 12:40   View User's Profile U2U Member Reply With Quote
http://www.iii.co.uk/

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