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Just a tiny piece of advice needed!     

whyallasteve - 23 Nov 2004 15:13

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.

Harlosh - 23 Nov 2004 15:48 - 4 of 5

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

whyallasteve - 24 Nov 2004 11:13 - 5 of 5

Thanks for all your help and advice.

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