We have lots of experienced traders on MoneyAM who would be glad to help if you have any trading questions.

Firstcall

http://www.glomtc.com

Firstcall.
It all depends how much time you want to put in and how much you want to spend.
I like books.....you get much more for your money, and you learn at your own pace. Courses are much more expensive, and you get lots of information put in front of you in a very short time - easy to miss things.
I went on the GLOMTC trading course, which cost 350. It was very good, and was run by David Jones (limpsfield chartist) and Mike Boydell (bullshare).
Was it worth the money? hmmmmmmmmmmm???? On balance yes, even though I'd already learnt lots from my books - I've got most of the common ones that everyone talks about. But they emphasize which are the most important things.....coz there's lots of 'non information' on trading that just acts as a distraction.
In this game knowledge is power......and there's lots to learn and lots of traps and pitfalls.......which I've been caught in many times......and still do......I'm only just learning that spreadbet companies are b******rds, especially their rip off spreads.......and put a stop on something and it becomes almost magnetic for their quotes...but enough moaning...
Overall, it depends how serious you want to take things and how much money you want to spend.
Hope this helps
ZOLTAR

.....and one other thing. You need your own software. Sharescope is the best use of twelve quid a month I've ever spent. It's all too easy to just rely on a few people's postings on a bb, but you need to do your own thing to ever make it trading...not that I'm saying I have coz I haven't.....but I know you won't ever improve at all, not even on to the first rung of the long learning ladder, if you just take others' tips. And sharescope gives all the fundies and charty stuff you need....
ZOLTAR

Can you please explain why, after acting on your tip (Cytomyx Holdings), It would seem I have lost substantially as a result of consolidation. I originally tried to purchase 8000 of stock at the end of Dec 2003, however I could at that time only purchase blocks of 25,000 shares @ 1.65p (412.50)
Two days later I found I could purchase 8000 of stock which I did at 1.75p.
The following day I received a letter from my stockbroker informing me that subject to approval at an EGM to be held on 12 Jan 2004 that the ordinary shares would be consolidated at 2.5p for every 25 ordinary 0.1p share. This effectively valued my holding at approx 6500 a loss of nearly 2000. Surely this cannot be correct. can you comment please

All shares are given a notional value when they are first issued, which never changes. What you pay for the share is the traded price not the notional price.

You bought ordinary shares of 0.1p for for the amount they traded at of 1.75p

The consolidated shares are just the notional price being increased, to reduce the amount of shares in issue.

I was looking at the share price, and in dec 03 it was trading between 30-40p so I don't understand how you paid 1.75p

You should expect the trade price to change in line with the change in shares in issue.

For anyone who needed proof of why looking at the buys & sells trades are misleading, take a look at TGM.

Currently only two trades. The second one is recorded as a sell because of the price. I infact bought 582 shares @ 149.50 for my long term portfolio. I saw the price my broker was prepared to sell the shares for and I couldn't refuse.

I suspect the broker had some shares he wanted to sell, and thats why I got such a good price. Prices are dictated a lot of the time by how much stock the broker has available, within the bid & offer prices which are dictated by the MM.

Anyone suggest a good book I could buy that would show me how to use graphs properly. I intend to go on a one day course in the near future and feel it would be beneficial if I had a basic understanding, when it come to reading resistance points in realtion to volume and price.
Thanks in advance.

(New user) How do I find last reference to a Company from the very long list in Investors Room? Is there an index ? eg today I looked for Vislink.

Graandma,

If you click on the Search button at the top you will be given a number of options to search for.

Regards

Ian

Thanks for prompt reply. xx Grandma

You may also find the EPIC box is case sensitive!

When VLK at last found, found the original title no longer appropriate. Can it be changed, or does one start anather thread?

refer to CGT rule- about last in first out(share dealing),say if i made 3 different lots of buying "xyz" as following 1) apr/03 100k cost 3,000; 2) may/03 150k cost 4,800; 3) Dec/03 250k cost 7,375. And i sold 300k shares
at Feb/04, i understand that i sold the 250k bought on dec/03 plus 50k from may/03 `s stuff ,but not know the cost base of the block sold.Is it 7,375+
1600= 8,975 or the pooling of all three transctions and take a avg @price
*300k; =9,105 ? Please any one know the answer.

You take the actual cost of the the shares. You would actually break the sale into 2 transactions, prorata and then put it againt the purchases. The reason for breaking it down is incase you have taper relief (or what was in place prior to taper relief) to claim etc.

Also the reason for breaking down the deals is in case you purchase the shares back within 30 days then, then it can become very complicated!

You work the cost out from the specific shares sold - hence you are selling 250K bought at for 7375 and 50K bought for 1600 hence 8,975 - the cost always stays with the specific share

little woman & Fundamentalist; thankyou for the help,very much appreciated.
rgds SBR

Cladisporium & LW, re Cytomyx,

LW, Cytomyx wasn't trading at 30-40p in December, you are looking at a chart that has already adjusted for the 1 for 25 consolidation on 13/01/04. Today's closing price of 32p is equivalent to 1.28p.

1.75p purchase price late Dec means you are in at an equivalent of 43.75p now.

Thanks dominic - I wondering about the difference!

The trade example in post 265 isn't strictly a VWAP trade, it's a trade that has been executed in parts and then booked out to the client, although it demonstrates how VWAP is calculated. A VWAP trade (marked VW) is where a broker is given an instruction to execute a trade against a VWAP benchmark for a given period and a full explanation can be found here.


http://www.moneyam.com/TradersRoom/ShowPostList?fID=1&tID=2057

Thanks for the clarification dominic - and I hadnt been aware of how VW was used for benchmarking until I read the link you've just posted. Very informative.

Nice article on the IG website, btw.