I have been 'trading' for over 2 weeks now and have taken a lot of heart from these notice boards both in the darkness of the humour and the range(s) of advice given. However; bearing in mind I've no previous history of share dealing, I've come to realise that I seem to be constantly 'chasing the market' - and although I have made some modest gains doing it this way I have made some more ample mistakes. Thus, can anyone be good enough to suggest software or level of subscription (as in MoneyAm or ADVFN subs) that is deemed necessary/vital to make a reasonably confident prediction of the market.
Big thanks to anyone who can contribute.

I have been trading for over a year now, started with normal shares, moved into CFDs about 4 months ago and am currently evaluating the Forex market. If you are interested in investing in the UK market I would suggest buying the Shares Mag and get a feel for a few companies before investing. Do some paper trading and develop your own strategy.

When you are confident then start using cash, but only use small amounts until you are sure what you are doing. Also trading with real money has a totally different feel to demo money or paper trading.

Once you have developed your own strategy then this should show you indications of where the market is going. It is up to you to make an educated guess as to if it will go in that direction or not.

Know one know the future a 100%.

if we did we would all win next weeks lottory.

Hope this is of some help.


David

Steve

If you search through this bulletin board you will find several threads regarding people starting to invest/trade and these contain an inordinate amount of useful advice.

To start with there are a number of questions you need to ask yourself including the following (though this is by no means a comprehensive list). By answering them you will start to find a method/system that works for you. Once you have a method, trade on paper or with very small amounts so that your initial mistakes dont cost too much and that you still have enough money once you have learnt from them

Are you trading or investing?
What are your goals/timescales?
Is this for a living or alongside a job?
Can you afford to lose what you are playing with?
What is your appetitie for risk?
Are you investing based on fundamental analysis or technical analysis or a combination?

I would also recommend reading the daily traders thread as it has a lot of news at the top. I would also go back and read the traders thread for the last 10 mondays or so - each contains a thoughters piece at the start which will help give you some ideas

Personally i use moneyam for real price streaming, the stock screener and the bulletin boards mainly. However i am more of an investor than a trader. those who trade will also use level 2 as well as sharescope or a similar data provider. it also helps to have a news feed (ie reuters) running

I don't think software or level of subscription will help you at this early stage. You need to read, read and read some more. Shares Magazine and Investors Chronicle are good places to start. Check out the subscription deal on the Home page for Shares Mag which will save you a lot of money.

Read the boards avidly BUT DON'T act on the tips that are posted there. My advice would be to avoid penny shares at the moment. Most people start out buying penny shares and lose most of their money. Start to learn how to read charts so you only buy shares going UP not DOWN as many beginners do.

There is no substitute for hard graft. You have to learn and it takes a long time. The most important thing is to protect your capital. Learn about stop losses. Let your winners run and cut your losses early. Think not how much you could win but how much you could lose.

The Market lies in wait for unsuspecting beginners to come along and sucks them in by providing them with a few good trades. As your confidence grows and you invest more and more of your money, it suddenly turns and takes everything.

This is not an easy way to make money. Done properly though and with the right education it can be immensly satisfying and profitable.

Good Luck

Thanks for all your help and advice.

Right then off to loose some more money mmm.. how much for BPRG?