Clueless ??

Ron · 05-31-2009, 10:12 AM

Hi, I am from the UK and am looking to get involved with buying and selling shares asap as I think this could be a good time also my savings are just sitting making no intrest anyway!

I am totaly new and dont even have a broker I would be looking to do everything online.

Any suggestions on which broker to use and how to get going??? I looked at etrade but didnt even know which product I needed ?

Any help from you pros would be much appreciated!

Cheers

Ron

chuckd · 05-31-2009, 10:19 AM

Hi Ron, Welcome to our group. On your broker question, here is a link to

a thread on the subject.
http://www.stockrants.com/forum/onli...ling-site.html

sorry your intro was marked as spam. I fixed it. Welcome again.

AndyB · 05-31-2009, 12:34 PM

Be careful mate, there's a shocking statistic that 90% of traders lose money. This is more difficult that it seems.

However there's plenty of people here to help you along the way. What sort of cash you thinking of investing? You don't have to tell us but if its less than £7200 then consider a "Self Select ISA" as opposed to a brokerage account. You won't pay tax on any gains in the ISA.

Selftrade does a pretty good ISA as well as other accounts - I use etrade but I just noticed you can't do stoploss orders on their ISA's!! XD

illinoisweber · 05-31-2009, 01:12 PM

Greetings, The best advice I can give is simple, watch and research a stock before buying

, buy low, sell high. Try not to chase stocks just because they are going up unless your gut tells you this stock is undervalued and will still continue to rise. Most stocks will rise over time so be patience, but always ask yourself how much you can lose and put at stop in place at that limit. Do post any questions you may have about a stock. There are a lot of members here who have years of experience, and most are helpful who are not looking to screw you. Have fun!

Happy Trades, RW

"jacta alea est!" or "the die is cast"- Julius Caesar

AndyB · 05-31-2009, 06:16 PM

... And the best advice I can give is:

Assume you are not cleverer than those who went before you and you are going to lose money to begin with
With that in mind, trade light (don't go ALL IN!) until you learn the ropes
Plan your trades and be realistic - try to have multiple scenarios, good and bad, and stick to them!

Good luck mate, feel free to ask us any questions.

If you head over to the Stock picks sections, there are some fantastic UK/US/Canadian stock picks.

Ron · 06-03-2009, 09:17 AM

Thanks guys for the input - I think I will go with AndyB's advice (thanks Andy!!!) about the self select ISA see how I get on before Investing to much cash - I am already in the 40% tax bracket with my income tax so it makes sense!

I still haven't decided on which broker to go with I don't think it will be e-trade:

Etrade UK offers no way to export your account history data, so that you can easily calculate taxes owed etc.

Without an export feature you have to manually copy and paste your details for each transaction into a spreadsheet in order to calculate my profit/loss and taxes due.

160 Reasons To Not Use Etrade UK | InfoHole

The guy in that post says he is going to use "iweb" any of you guys heard or dealt with them?

Cheers,

Ronnie

05-31-2009, 10:12 AM	#1
Ron Junior Trader Join Date: May 2009 Location: UK Posts: 5 Rep Power: 15 Reputation: 10	Clueless ?? Hi, I am from the UK and am looking to get involved with buying and selling shares asap as I think this could be a good time also my savings are just sitting making no intrest anyway! I am totaly new and dont even have a broker I would be looking to do everything online. Any suggestions on which broker to use and how to get going??? I looked at etrade but didnt even know which product I needed ? Any help from you pros would be much appreciated! Cheers Ron

05-31-2009, 10:19 AM	#2
chuckd UberTrader Join Date: Apr 2009 Location: conyers, Posts: 700 Favorites: KFN LVS NTE Rep Power: 261 Reputation: 5419	Hi Ron, Welcome to our group. On your broker question, here is a link to a thread on the subject. http://www.stockrants.com/forum/onli...ling-site.html sorry your intro was marked as spam. I fixed it. Welcome again. __________________ All advice from me is guaranteed to be worth at least what you paid for it, or double your money back. All persons dealing with matters of personal finance are advised to gather information from blogs, books, radio and TV, consult with professionals, discuss the matter with anybody who will listen, and then make their own decision.

05-31-2009, 12:34 PM	#3
AndyB Pro Charting Wannabe Join Date: Apr 2009 Location: Manchester Posts: 386 Favorites: $SPX GGG.L ARSLF Rep Power: 209 Reputation: 4467	Be careful mate, there's a shocking statistic that 90% of traders lose money. This is more difficult that it seems. However there's plenty of people here to help you along the way. What sort of cash you thinking of investing? You don't have to tell us but if its less than £7200 then consider a "Self Select ISA" as opposed to a brokerage account. You won't pay tax on any gains in the ISA. Selftrade does a pretty good ISA as well as other accounts - I use etrade but I just noticed you can't do stoploss orders on their ISA's!! XD __________________ I am a junior investor/trader with less than a years experience, so weight my words accordingly. I'm using a stoploss at my break-even on SFEG. Production is delayed.

05-31-2009, 01:12 PM	#4
illinoisweber VIP Trader Join Date: May 2009 Location: Central Illinois Posts: 100 Favorites: ELO U2 INXS Rep Power: 44 Reputation: 600	Greetings Greetings, The best advice I can give is simple, watch and research a stock before buying , buy low, sell high. Try not to chase stocks just because they are going up unless your gut tells you this stock is undervalued and will still continue to rise. Most stocks will rise over time so be patience, but always ask yourself how much you can lose and put at stop in place at that limit. Do post any questions you may have about a stock. There are a lot of members here who have years of experience, and most are helpful who are not looking to screw you. Have fun! Happy Trades, RW "jacta alea est!" or "the die is cast"- Julius Caesar Last edited by illinoisweber; 05-31-2009 at 10:34 PM..

05-31-2009, 06:16 PM	#5
AndyB Pro Charting Wannabe Join Date: Apr 2009 Location: Manchester Posts: 386 Favorites: $SPX GGG.L ARSLF Rep Power: 209 Reputation: 4467	... And the best advice I can give is: Assume you are not cleverer than those who went before you and you are going to lose money to begin with With that in mind, trade light (don't go ALL IN!) until you learn the ropes Plan your trades and be realistic - try to have multiple scenarios, good and bad, and stick to them! Good luck mate, feel free to ask us any questions. If you head over to the Stock picks sections, there are some fantastic UK/US/Canadian stock picks. __________________ I am a junior investor/trader with less than a years experience, so weight my words accordingly. I'm using a stoploss at my break-even on SFEG. Production is delayed.

06-03-2009, 09:17 AM	#6
Ron Junior Trader Join Date: May 2009 Location: UK Posts: 5 Rep Power: 15 Reputation: 10	Thanks guys for the input - I think I will go with AndyB's advice (thanks Andy!!!) about the self select ISA see how I get on before Investing to much cash - I am already in the 40% tax bracket with my income tax so it makes sense! I still haven't decided on which broker to go with I don't think it will be e-trade: Etrade UK offers no way to export your account history data, so that you can easily calculate taxes owed etc. Without an export feature you have to manually copy and paste your details for each transaction into a spreadsheet in order to calculate my profit/loss and taxes due. 160 Reasons To Not Use Etrade UK \| InfoHole The guy in that post says he is going to use "iweb" any of you guys heard or dealt with them? Cheers, Ronnie

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