chaos.

I would start here

The amount of money you want to start "gambling" with is money you do not need. If you don't have spare money you can afford to lose, don't bother.

[Edited by imlach - 12/14/2003 3:05:46 PM]

 

Have a look at Motley Fool for general info. I'm on the ADVFN bulletin board and there's a few folks on there that trade full time. I've got a few £k portfolio and trade on-line with selftrade. Mostly penny shares as they're much more fun Like to think that I can learn enough about the business that when I do retire I could keep the finances ticking over by trading part time. Successes so far - MMD, turned £500 (then an extra £300) into £2,500 in 2 months plus a few +100%. On the downsides I'm sat on a few at the moment that are down 30% patiently waiting for the 'promised' good news. Can be quite addictive - I spend as much time on the ADVFN buuletin board as I do on Scoobynet

 

You don't need a guide - just buy low, sell high. It's as simple as that

 

Or sell high, and buy low if you're shorting.

 

Just re-read imlach post on spread betting and I agree I seems a better way than buying the share. Few things Im not sure on however..

Is the amount at which you bet, £x/+or-each penny limitless?

When you place your bet, say the share is worth 130p and you bet £5 per each penny and your stop point is 120p, meaning your max loss is £50., do you pay the 50 straight away (do they take the money out of your account?).

Thirdly, how are the spread betting companies still in buisiness? Some nut could put a crazy amount and surely there is a big wrisk of them going t!ts up?

cha0s

 

Yes, they take the loss out of your account straight away.
ie, you'd need to have £50 in your account to make a bet which has a £50 max potential loss. The only ways around this are to have a credit account whereby (with IG anyway), you have to prove £5k of liquidity.

 

To answer your other points :

1) The amount per point is not limitless. With IG on a normal account, it is usually £100/pt but varies according to the thing you are betting on.

2) Answered in previous post.

3) For every bet you place, they place an associated real buy/sell on the real markets, hence they are covered that way. They take a %-age of your gain/loss in the spread they offer you.

 

Take a look at BinaryBet
Takes a bit of understanding but good opportunites exist for making some cash or having a flutter.

 

So then, did anyone look at my tip??? Trafficmaster??

You might notice that as of 2pm today they are currently up 8p or 12%ish...........not a bad performer eh

 

Yeah ADP but you couldn't buy them today and make 12% because they gapped up like most shares in the world this morning. You'd have been lucky to buy them at less than 70p this morning, and they're 72 now

 

missed out on tfc. Had my attention drawn to it in august, but all my 'punt' money was elsewhere.

Trading in and out of PDX at the moment ( mostly in though ). The confectionary trials should be just about over .........

Steve

 

I invested in shares on a daily basis for about 9 months and it was a fecking disaster LOL

I used SharePeople and the biggest problem was the buying and selling commissions and tax which mean't unless you bought large amounts of stock even if a stock performed quite well you would only end up covering your outlay after the costs! Also the spreads are designed to f@7k you up on short term investments so long term investments are your best bet, but there's no fun it!

I had one good success a company called Durlacher which I bought for pence and sold for over a quid which meant when I called it a day I broke even!

I also discovered that when speaking to people the whole world was a bloody expert and very very few of them were anything other than bloody successful, so either I was very bad at it, or a lot of people are full ****.

I also have a friend who works for a brokers in London and he said you have more hope of winning on a horse! Its only the big boys and the market makers that make the bucks and the influx of small investors has helped them further because you find out what they know from their club on the news 4 weeks later hence small investors buy on mass when the market makers want you to at a price they dictate!

However it beats a casino because you don't loose until you sell

So beware

Andy

 

Nice graph on PRM at the mo.

Allan