Trading the stockmarket (NO Referrals)

Soldato
Joined
21 Jan 2010
Posts
21,949
For those in the know - are there are any decent virtual trading/investing platforms that the extremely risk averse amongst us could have a play around with for a month or two to get a feel for things?

Or would you be better off diving into live accounts but just messing about with disposable pub money to start with?
Trading 212 is typically the right answer to this but I imagine a lot of people are pretty hacked off at them right now to recommend.
 
Soldato
Joined
19 Oct 2008
Posts
5,949
with this said, I chose to buy this year and that's what I'll do all year. Dollar cost average all the way.
Going to be an interesting year I think. I can see a case for a repeat of the roaring 20's as we come out of COVID but also possibly the beginning of a multi-year bear market, even a depression.
The current market valuations and market participants makes me more concerned of a top.
 
Caporegime
Joined
13 Jan 2010
Posts
32,495
Location
Llaneirwg
Fair play. Probably longer than me It was just the comment earlier didn't mention anything on the short squeeze.

Back over $200 now. Going to be fun watching it play out and all the repercussions over the next few weeks.

Anyone who gets in now has a coin toss chance of making something.

Still believe as it is overvalued its more likely to continue its decent. But a bumpy ride will ensue
 
Caporegime
Joined
24 Oct 2012
Posts
25,024
Location
Godalming
It's amazing seeing how the human psyche works. Anyone involved in this knows the risks and what the potential is yet does it anyway and then it's all drama when it goes pop. It's gambling, pure and simple. Someone in this thread is even saying that he's using money that was meant for his house, like wtf :confused: :(

I do hope that RH and 212 go bust for this though, there's no excusing their behaviour.
 
Soldato
Joined
6 Sep 2005
Posts
5,996
Location
Essex
****

I put a stop on my GME at $200 to protect myself which would at least see some profit and T212 did not execute until it was $122.63 so I've pretty much made **** all over the past 2 weeks

AMC is down so I'm currently at a loss of £169 because of these brokers stopping new BUY orders. Will keep that and see what happens there.

I am beyond livid as I was planning on selling at $500 so I could do some work on the house but T212 and other brokers put a stop to that.

Unbelievable.

I wouldn't check out the current price of GME if I were you then!
 
Associate
Joined
19 Aug 2020
Posts
134
Location
Bristol
For those in the know - are there are any decent virtual trading/investing platforms that the extremely risk averse amongst us could have a play around with for a month or two to get a feel for things?

Or would you be better off diving into live accounts but just messing about with disposable pub money to start with?

If you're truly risk averse then you need 2 things.
1 - Google
2 - A notebook to write it (I guess a pen brings us to 3)

Make a grid stating:
1- name of stock
2- the amount you want
3- the cost per share
4 - the date
5 - If first buy: why you want the stock. What does the company do that makes you believe in them. What innovations do they have that are being overlooked?
- If selling: what has changed making you want to sell.

for 6 months you should follow this notebook putting in the new info once a week and tracking your virtual losses and gains.
Through this you will learn to not take silly risks (GME etc), how to be patient, exactly which stock you want.

Then after 6 months cut your choices down to 2 and no more. buy those two stocks with money you are willing to lose. Imagine its already gone, you've spent it on the upcoming learning experience and nothing more. Now sign a contract to your future self saying you wont be an idiot. Hold that stock for at least 6 months, only selling when high and buying in every month the same amount.

whilst you're waiting read the intelligent investor and learn the importance of the patient investor.
 
Associate
Joined
19 Aug 2020
Posts
134
Location
Bristol
I've sold, but the shares are still showing in my account and I haven't received notification that I've sold. When I click 'sell' again it tells me I have to buy it first.

I have no idea if I'm in or out!

lol


Worth reading, it was similar but different. End result the same, huge ramp up and then a rapid decrease. VW were the most valuable company in the world at 1 point.

https://www.ft.com/content/0a58b63a-4294-3e07-8390-c3aabef39a26

It's clearing. Can take 2 weeks to clear. I hope it works out for you mate.
 
Soldato
Joined
5 Apr 2009
Posts
24,796
Trading 212 let you play with free money before loading real money in :)

Trading 212 is typically the right answer to this but I imagine a lot of people are pretty hacked off at them right now to recommend.

If you're truly risk averse then you need 2 things.
1 - Google
2 - A notebook to write it (I guess a pen brings us to 3)

Make a grid stating:
1- name of stock
2- the amount you want
3- the cost per share
4 - the date
5 - If first buy: why you want the stock. What does the company do that makes you believe in them. What innovations do they have that are being overlooked?
- If selling: what has changed making you want to sell.

for 6 months you should follow this notebook putting in the new info once a week and tracking your virtual losses and gains.
Through this you will learn to not take silly risks (GME etc), how to be patient, exactly which stock you want.

Then after 6 months cut your choices down to 2 and no more. buy those two stocks with money you are willing to lose. Imagine its already gone, you've spent it on the upcoming learning experience and nothing more. Now sign a contract to your future self saying you wont be an idiot. Hold that stock for at least 6 months, only selling when high and buying in every month the same amount.

whilst you're waiting read the intelligent investor and learn the importance of the patient investor.

Thanks gents, food for thought.

Obviously when I say risk averse, i'm talking in relative terms, as to be truly risk averse would mean I wouldn't even be thinking about it, just dumping money in cash ISAs and premium bonds (though I think they recently got gimped pretty hard)
 
Soldato
Joined
14 May 2009
Posts
4,182
Location
Hampshire
I wouldn't check out the current price of GME if I were you then!

Yep! Seen it!

It's a bloody joke TBH but I've not made a loss so I've just been in it for the ride.

It's just frustrating that I was up almost £4k and now have nothing.

I have my 50 AMC shares so will keep those and see what happens.
 
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