Caesard Posted February 6, 2012 Share Posted February 6, 2012 I trade the markets and as a forex trader, your broker contributes a lot towards your earnings or your downfall. Most spread betting companies make money when you lose yours, so you should not spread bet at all. Use a reputable ECN broker, learn on demo for the first 3 months before trying to go live. Greed is the number one killer in the market, and if you can master your emotions, you can make a really decent living from the forex market, especially in these volatile times of Greece and Spain's problems. So says me, a greedy man Quote Link to comment Share on other sites More sharing options...
nige-rz Posted February 6, 2012 Share Posted February 6, 2012 I trade the markets and as a forex trader, your broker contributes a lot towards your earnings or your downfall. Most spread betting companies make money when you lose yours, so you should not spread bet at all. Use a reputable ECN broker, learn on demo for the first 3 months before trying to go live. Greed is the number one killer in the market, and if you can master your emotions, you can make a really decent living from the forex market, especially in these volatile times of Greece and Spain's problems. So says me, a greedy man Which forex company would you recommend, both for free practice and for real money? I'm looking for a decent platform with reasonable spreads etc.? Quote Link to comment Share on other sites More sharing options...
Caesard Posted February 7, 2012 Share Posted February 7, 2012 Well, you can try LMAX.com. They are an ECN exchange, and so far, for me, they have been executing all my orders without requotes. You can check Forexpeacearmy.com for reviews of other brokers, but stay away from Capital Spreads. They stop hunt you, and their spreads can increase up to 40 pips during news times. And of course, constant requotes. Have lost a lot of money to their shady practices. I am not advocating here for any one, just my 2 cents. Also dukascopy.com of Switzerland is good and is an ecn broker too but require higher starting deposits. Point is, for the OP, you can make a ROI through trading far more than properties or bonds can give you, if you are patient. Quote Link to comment Share on other sites More sharing options...
stevie_b Posted February 7, 2012 Share Posted February 7, 2012 For those people who dabble, how regularly do you watch the markets? Is it a once-a-night, once a week, etc? Or do you watch it throughout the day? Quote Link to comment Share on other sites More sharing options...
stevie_b Posted February 7, 2012 Share Posted February 7, 2012 PS I get the impression forex needs a close eye on it but might be wrong. One of the several reasons I don't intend to do any forex trading. Quote Link to comment Share on other sites More sharing options...
Attero Posted February 7, 2012 Share Posted February 7, 2012 To hell with sharing at the moment. It's so volatile in this day and age. I lost so much money from companies with intense growth. Be prepared to lose all your money before seeing a little gain as it takes long term patience. Quote Link to comment Share on other sites More sharing options...
ozz Posted February 7, 2012 Share Posted February 7, 2012 I dabble a bit (only small amounts of money, nothing that would make or break me). I must admit my track record isn't good. Currently, I don't know what's holding up the RBS share price. It all seems like bad news for that company but the recent performance is defying gravity. RBS is an interesting one, but reading the news stories what appears as bad news isn't really. They have a business plan, they are cutting jobs and re-aligning the company but, at least they are addressing issues and have a plan - this gives the market confidence and so share price increases as people see them as more long term viable. I'd be surprised if the current rapid rise continues, I think it will slow, dip a little as people sell, then either stabalise/increase slowly, or if the plan fails under scrutiny, drop lower. I'm putting my money where my mouth is, though I did sell some of my LLOY stock, lovely 45% ish profit. Quote Link to comment Share on other sites More sharing options...
ozz Posted February 7, 2012 Share Posted February 7, 2012 To hell with sharing at the moment. It's so volatile in this day and age. I lost so much money from companies with intense growth. Be prepared to lose all your money before seeing a little gain as it takes long term patience. volatile market is the best time to make money, but yes also the best time to lose it! Quote Link to comment Share on other sites More sharing options...
stevie_b Posted February 7, 2012 Share Posted February 7, 2012 Thanks ozz, interesting views on RBS. My thinking was that 1) political meddling with bankers' bonuses (regardless of whether they're morally deserved or not) won't help the business retain the top talent it needs; 2) risk of UKFI Ltd taking a more hands-on approach to running the business (a bit like the bonus fiasco, but possibly encompassing things like being forced to lend more to businesses); 3) selling off the investment banking side of things, although cutting down costs and risk, might severely limit future profits; 4) Virgin Bank, when it gets going, stealing high street customers away (probably a small risk, but hardly helpful to RBS); 5) possibility of a double-dip recession (although the UK has seemed to teeter on the edge and pull away, for now). Quote Link to comment Share on other sites More sharing options...
ozz Posted February 7, 2012 Share Posted February 7, 2012 Thanks ozz, interesting views on RBS. My thinking was that 1) political meddling with bankers' bonuses (regardless of whether they're morally deserved or not) won't help the business retain the top talent it needs; 2) risk of UKFI Ltd taking a more hands-on approach to running the business (a bit like the bonus fiasco, but possibly encompassing things like being forced to lend more to businesses); 3) selling off the investment banking side of things, although cutting down costs and risk, might severely limit future profits; 4) Virgin Bank, when it gets going, stealing high street customers away (probably a small risk, but hardly helpful to RBS); 5) possibility of a double-dip recession (although the UK has seemed to teeter on the edge and pull away, for now). You share my thoughts on bonus payments, there is a good arguement that they are obscene (like footballers wages, that old chestnut) but if we limited it and other countries don't we risk the money/role/person/headquarters leaving the UK or limiting the applicants. His role had the potential to bury his career, just look at the guy losing his knighthood, so with great risk should be great reward - and I believe it was offered in shares which is a huge incentive for him to perform to maximise their value. Perhaps some moderation is required, or how to define successful performance that isn't just about bottom line (so to reduce risk especially with traders), no easy answer. Quote Link to comment Share on other sites More sharing options...
imi Posted February 7, 2012 Share Posted February 7, 2012 It depends what you want really and how adverse you are to risk. My shares portfolio is 20% up atm and I've never make that with money in the bank. Just 'gamble' what you are prepared to lose. I buy into banks, I'm 40-50% up on LLOY, BARC, RBS and they should climb further. Aviva is another interesting one, I'm 30% up in only 2months. I trade through HL.co.uk. If you do, make sure you trade wherever possible in an ISA, you can buy 10.6k shares a year and the profits are all tax free - awesome for higher tax payers. Base metals industries are also worth a look - Vale, BHP Billiton, Rio Tinto (i work for one of them). Its believe these are currently undervalued and China is really driving demand up. Of course, any investments you make from this advice are at your own risk, these may all go out of business tomorrow but they tend to be the safer of the moving shares. I also like to invest smaller amount in a more speculative portfolio - exploration companies, energy companies, small value. I've lost heavily on some (90% on one!!) but it only takes one to hit big and pay for the rest. Also consider how you are investing - day trading (mucho time/research), 6 month, 1 year, or 5 year etc as it will influence who you invest in. Hope that helps! I'm a complete amatuer but enjoy trading for fun. Good advice. Quote Link to comment Share on other sites More sharing options...
Wez Posted February 7, 2012 Share Posted February 7, 2012 Interesting stuff Quote Link to comment Share on other sites More sharing options...
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