I'd be more concerned about the end of furlough than the stamp duty holiday. I'm certainly not investing in UK stocks right now though
Trading the stockmarket (NO Referrals)
- Thread starter mcast123
- Start date
I'd be more concerned about the end of furlough than the stamp duty holiday. I'm certainly not investing in UK stocks right now though
I can't imagine it'll make any difference at all, given that the date has been known for a long time. Nothing unexpected.
Soldato
How is it a stupid thing to say? Go find me an IFA who would recommend trading <£100 per stock. And again, it only affects limit orders, you can place penny trades when the market's open to your heart's content.
Soldato
- Joined
- 25 Nov 2005
- Posts
- 12,451
It's stupid because I think you're confusing investing long term where you need not worry about limits, with short term trading/gambling/fun in the markets whatever you want to call it
These restrictions have basically put an end to small time traders who do it for a bit of fun on the side to try and make a little extra money, market orders are pretty worthless if you want trade, they're fine for investing but not everybody wants to solely invest
Soldato
I'm not confusing anything at all. But you're right, this thread is slowly but surely moving from trading to gambling which is both dangerous and annoying. This sentiment of "I don't mind if I lose it all" is such bull **** and just a laughable defense mechanism.
I'm not saying trading/investing/betting on stocks is or should be reserved to the elites or wealthy individuals - hell I started when I was a student eating £1 pizzas from Iceland - but it's getting ridiculous. Someone a few pages back invested in a company solely because their ticker was funny. Jeez.
You're throwing your toys out the pram because a free service no longer lets you gamble <£100 day trading via limit orders. If anything what T212 has done is good and should be expanded to any order so people take the risks and the market a bit more seriously.
Soldato
- Joined
- 25 Nov 2005
- Posts
- 12,451
So if you signed up somewhere for a service and that service was removed you wouldn't be annoyed because you now have to find somewhere else with a similar service ? It's far from throwing toys out of the pram so reign yourself in
Trading has always been gambling. It's just that it's now become more mainstream and accessible.
Pre market looking good again
Soldato
Nowhere near the same extent. That's a stark difference between reading books, understanding candles, researching a company and investing based on their fundamentals etc vs "lol this ticker is UFO".
Soldato
I can see both sides. I suppose the risk is that people risk larger amounts than they normally would for the sake of being able to trade. The main issue is for stocks which aren't very liquid. A stock could be 80p when you place the trade and then end up at £1 by the time it eventually goes through. Especially as it's a service that was previously available.
On the other hand £100 doesn't feel like much, and if you're loading in £500 a month as mentioned above i'm not sure why you'd spread yourself so thin to not be able to meet those limits. I wouldn't say my "play account" is huge, but i tend to just have 3-4 stocks on the go at once in it between £100 - £200. As @Russinating said above. Anything less and it just feels pointless. If i'm up 20% then even at £100 it's only £20 which barely feels worth it as it is. Never mind anything less.
Although i tried a trade on something yesterday and it said the minimum limit trade was $250 which is considerably higher than they suggested.
On the other hand £100 doesn't feel like much, and if you're loading in £500 a month as mentioned above i'm not sure why you'd spread yourself so thin to not be able to meet those limits. I wouldn't say my "play account" is huge, but i tend to just have 3-4 stocks on the go at once in it between £100 - £200. As @Russinating said above. Anything less and it just feels pointless. If i'm up 20% then even at £100 it's only £20 which barely feels worth it as it is. Never mind anything less.
Although i tried a trade on something yesterday and it said the minimum limit trade was $250 which is considerably higher than they suggested.
Soldato
- Joined
- 25 Nov 2005
- Posts
- 12,451
Yeah 20% gain is pointless, coming from crypto anything lower than 500% is pointless
Who cares if somebody is up 20% on £100 or £10,000, it really doesn't matter what anybody else thinks what is "worth it", what matters is whether the person spending the money thinks it's worth it and that people with less than £100 should be able to enjoy the same mechanics as somebody with £100+
It's going to be vastly harder for people to trade on market orders unless they're stuck watching the candles all day vs being able to set limits on what they wish to buy in and sell at and even then the price they click buy/sell isn't always going to be the price they end up with because of the way market orders work vs limits
Soldato
Go big or go Home
It may not be, but lets not kid ourselves that that 'trading' isn't a form of gambling. In the same way you study the charts, understand candles and research a company a punter will look at the form of a horse, understand the stable it's trained at, and research the jockey.
You're right, people have been gambling the stock market in the way people gamble on roulette "£100 on Red please - YOLO" without any research but to try and suggest 'trading' isn't a socially acceptable form of gambling for essentially the middle classes is wrong.
Soldato
You are either up or down, up is better than down, but obviously, we're all bright enough here to not put anything in we can't afford to lose right so it's all good whatever..
I'm in the same boat. I'm currently considering moving to Vanguard's ISA seeing as most of my holding with Fidelity is in LifeStrategy anyway.
bull market though it's kinda hard to lose money right now so everyone's enjoying it.
unless your FOMO risking stocks that already have been mooning for 2-3 days it's not that risky
things will probably be different by the end of the year when everyone gets burnt
I'm only sticking like 15% of my funds in the risky business and so far it's being paying off, weed stocks look like they are tanking though.
I'm always in and out of a stock in a few hours, holding nothing over night (apart from my actual investments)
the limit thing is annoying but not so much for me since I'm constantly checking my stocks and don't need to rely on it to stop me losing money
Not a bad shout from looking at the chart. Gap could be filled.
Associate
- Joined
- 25 Aug 2008
- Posts
- 947
Right now, I do think there needs to be some rebalancing. Certain valuations have accelerated but the market has a long way to go to catch up.
Prices right now are less about fundamentals and more about expectation/hope. I'm not saying there is not opportunity out there, or everything is overvalued, but I do think retail money will be taken out of the market somewhat, and things will rebalance when people are able to spend their new found gains on things more meaningful. Holidays and time with family.
Prices right now are less about fundamentals and more about expectation/hope. I'm not saying there is not opportunity out there, or everything is overvalued, but I do think retail money will be taken out of the market somewhat, and things will rebalance when people are able to spend their new found gains on things more meaningful. Holidays and time with family.
Last edited: