Day Trading - Options, Index, FX, Commodities

[StanHansen]

Good luck with that. Trading is a serious occupation and it can be tough for newbies. I would recommend you to read several books and watch stock reviews from different traders. There are very few people who get successful in trading so you must have some level of luck I think. Moreover, when I had my first steps in forex trading I usually had to consult with a professional broker. He gave me a lot of useful advises that prevented loosing money. Since then, I still consult with various brokers because they see things from the other side. And that really helps make a balanced decision.

 

[Mudball]

Good luck with that. Trading is a serious occupation and doesn't really welcome newbies. I would recommend you to read several books and to watch stock reviews from different traders.

I loved it.. did my time during the lockdown... made money, lost money, made money and then lost it all due to greed. I loved the learning cycle... steep learning curve. Technical bit of trading if far more easier than the psychological side (no one tells you that). Greed did me, but i learnt some valuable lessons about myself. another key learning is that, It cant be done as a side hustle, you need to stick to it

Luckily i have since recovered that money on something called Tesla..

BTW, welcome to the Forum... a mad box of frogs here... also try not to p***s off the mods.

 

[sunshine]

what were you trading?

glad to hear you've not blown your life savings!

 

[Mudball]

what were you trading?

glad to hear you've not blown your life savings!

All the major FX crosses .. surprisingly GBP/USD was my money pit. Made most money in Silver and Gold as well as AUD/USD.

it was like going to Vegas.. I put some money aside and said if this is gone then it I stop. I did have to top up temporarily to save margin but generally stuck to the limit.

 

[sunshine]

All the major FX crosses .. surprisingly GBP/USD was my money pit. Made most money in Silver and Gold as well as AUD/USD.

Why does this surprise you? I think trading volumes in GBPUSD are around $500 billion per day. It's not as high as EURUSD, but at that level, the market has priced in every single piece of known information in the world. A person cannot expect to have any insight that will result in more wins than losses. It's no different to tossing a coin.

With commodities like silver and gold, or shares, you can take a view and expect a price reaction. Not really the same with currencies.

 

[Mudball]

Why does this surprise you? I think trading volumes in GBPUSD are around $500 billion per day. It's not as high as EURUSD, but at that level, the market has priced in every single piece of known information in the world. A person cannot expect to have any insight that will result in more wins than losses. It's no different to tossing a coin.

With commodities like silver and gold, or shares, you can take a view and expect a price reaction. Not really the same with currencies.

it w

you are right.. GBP/USD is indeed a big beast (atleast so far).. also it moves fairly quickly.. i got caught up in a few Brexit rumours/announcement + bad strategies. the guy i was learning from, was very good at Cable, but he had been doing it for a very long time.

Commodities was almost inverse of USD move.. I picked some big moves in Silver and it paid handsomely.

In some cases, it is a bit like tossing a coin, but you can work out some consistent strategies that will pay back. you need to keep a hand on the mental side. I am a baby in mental terms. Also, i cant put the time commitment to follow thru. It also taught me what kind of a trader i am. Stocks work best for me, since i am not afraid to hold long term and not worry of leverage. Overall a great experience.. i think of it as a paid learning exercise.

 

[SteveJay]

If it is possible to make 10-15% how come we are all struggling along with 0.5% interest on our savings ?

One word....risk.
In a bank your savings are guaranteed (well up to an £85k limit anyway), so you won't lose your money. Invest in any asset where your capital is at risk and the returns obviously increase, to compensate for that risk. Despite low interest rates there are still plenty of investments that can return double digit returns.

 

[JustOne]

One word....risk.
In a bank your savings are guaranteed (well up to an £85k limit anyway), so you won't lose your money. Invest in any asset where your capital is at risk and the returns obviously increase, to compensate for that risk. Despite low interest rates there are still plenty of investments that can return double digit returns.

Can you name some risk free double digit investments plz

 

[SteveJay]

Can you name some risk free double digit investments plz

No, I said the risk is what brings the higher returns. I get regular mails offering "estimated" 10% + returns, including from property investment.
However, despite Covid, my pension fund has seen double digit total returns over the last 12 months or so.

 

[Fade and Die]

Anyone investing in Crypto? I’ve started but it’s a volatile market to say the least! Bitcoin is too expensive for me so I’ve been buying other coins known as Alts (alternative to Bitcoin) and the chance to make big money is exciting! Obviously it could all go Pete Tong but its fun tbh. Bought some Silver too but in comparison it’s pretty static.

 

[Deleted Member 1156]

A good thing to look at is the travel/tourism sector. Prices are massively down right now due to covid but longterm they will recover. I bought British Airways shares (IAG) at around 160p when they used to be around 700p
The important thing is to pick the companies that are big enough to ride the storm. BA are expected to recover within 2-3 years.

 

[Dibby]

A good thing to look at is the travel/tourism sector. Prices are massively down right now due to covid but longterm they will recover. I bought British Airways shares (IAG) at around 160p when they used to be around 700p
The important thing is to pick the companies that are big enough to ride the storm. BA are expected to recover within 2-3 years.

Too big to fail! Bold strategy there, I'm not saying IAG will or won't recover, but being big is no certainty, plenty of other bigger companies have bitten the dust.

 

[Mudball]

One word....risk.
In a bank your savings are guaranteed (well up to an £85k limit anyway), so you won't lose your money. Invest in any asset where your capital is at risk and the returns obviously increase, to compensate for that risk. Despite low interest rates there are still plenty of investments that can return double digit returns.

The important thing is to pick the companies that are big enough to ride the storm. BA are expected to recover within 2-3 years.[/QUOTE]

Bingo... that is spot on.. all comes down to your risk appetite.. My current foray in FX was more educational rather than investment. It was a good way to go and see all the crap there is out there. The hgh flying Instgramers in their green lambo selling courses. In the future, I may return and do so more. It is good as long as you know what you are doing and you dedicate your time to train and mental health

Can you name some risk free double digit investments plz

Goes back to SteveJay's point.. risk and timeline provide you the options. This year i sold a few quids of funds in my pension account and bought Tesla before it split. Tesla has since doubled yup (116%) since i bought. I have since bought some and repurchased the funds.. It was a risky move but i was prepared for it as i could sit on it for a couple of years if needed. This is NOT financial advice. Over the past 6 months, i have moved funds to EV market and all of them paid off. Again I was happy with the risk. Similarly just like FX, i cannot do property. It takes too much effort and less liquid than stock. Do what works for you. Dont expect the bank to do it. Covid was a bumper year to multiply investment.

Anyone investing in Crypto? I’ve started but it’s a volatile market to say the least! Bitcoin is too expensive for me so I’ve been buying other coins known as Alts (alternative to Bitcoin) and the chance to make big money is exciting! Obviously it could all go Pete Tong but its fun tbh. Bought some Silver too but in comparison it’s pretty static.

Dabbled in plenty of Cryptos.. again made and lost.. too much made up with no asset behind it.. I too prefer ETH and LTC. I have a fair few IOTAs that are now worth less than 10% of what I paid for them 2 years ago.. again happy to HODL with them.. they have moved up 20% in the last few weeks..

A good thing to look at is the travel/tourism sector. Prices are massively down right now due to covid but longterm they will recover. I bought British Airways shares (IAG) at around 160p when they used to be around 700p

I thought of IAG but the world is full of airlines and one will replace the other. Only 2 big to fail from a UK PoV. Given everything that is going around, never sure if Sunak does that. On the other hand in the travel industry, the one to look at is Cruises.... again long term but very few players


BTW, any recommendation on good sites for advice on UK stocks? all of mine are US based and it works for me since my stocks are mostly Nasdaq. I am keen to expand into UK stocks.[/QUOTE]

 

[Deleted Member 1156]

I thought of IAG but the world is full of airlines and one will replace the other. Only 2 big to fail from a UK PoV. Given everything that is going around, never sure if Sunak does that. On the other hand in the travel industry, the one to look at is Cruises.... again long term but very few players


BTW, any recommendation on good sites for advice on UK stocks? all of mine are US based and it works for me since my stocks are mostly Nasdaq. I am keen to expand into UK stocks.

IAG is a multinational company, includes BA, Iberian and several other airlines so not just UK interest. I use eToro which is commission free and has links to discussion boards etc and they cover most major exchanges.

 

[Mudball]

IAG is a multinational company, includes BA, Iberian and several other airlines so not just UK interest. I use eToro which is commission free and has links to discussion boards etc and they cover most major exchanges.

tnx.. am aware of IAG, what i meant to say was that given market size, IAG's role, customer choice and low barriers to entry for new airlines.. i am not too bullish on the sector. IAG going to wall may be emotionally bad but not the end of the world . For the same reasons, i am more bullish on say Cruises or Boeing.

I havent used eToro, i thought it was more about copying trade rather than any recos.. I use Hargreaves, but it is more platform than any proper recommendtions

 

[Fade and Die]

T



Dabbled in plenty of Cryptos.. again made and lost.. too much made up with no asset behind it.. I too prefer ETH and LTC. I have a fair few IOTAs that are now worth less than 10% of what I paid for them 2 years ago.. again happy to HODL with them.. they have moved up 20% in the last few weeks..
.

[/QUOTE]

Yes it’s all about HODLING ? made a chunk on Stellar but others are struggling...Can’t resist buying XRP at the moment, it’s really cheap. Obviously for a reason, if the SEC determine it a security rather than a crypto then it might fall further but at 19p each...?‍

 

[ArnoldArmChewer]

No, I said the risk is what brings the higher returns. I get regular mails offering "estimated" 10% + returns, including from property investment.
However, despite Covid, my pension fund has seen double digit total returns over the last 12 months or so.

Decent pension fund growth seems to be the only positive that has come out of Covid

 

[Deleted Member 1156]

tnx.. am aware of IAG, what i meant to say was that given market size, IAG's role, customer choice and low barriers to entry for new airlines.. i am not too bullish on the sector. IAG going to wall may be emotionally bad but not the end of the world . For the same reasons, i am more bullish on say Cruises or Boeing.

I havent used eToro, i thought it was more about copying trade rather than any recos.. I use Hargreaves, but it is more platform than any proper recommendtions

I used HL when I first started but moved away because of their charges.

 

[Mudball]

Yes it’s all about HODLING ? made a chunk on Stellar but others are struggling...Can’t resist buying XRP at the moment, it’s really cheap. Obviously for a reason, if the SEC determine it a security rather than a crypto then it might fall further but at 19p each...?‍[/QUOTE]

i had some XRP in the past.. overall i have moved on from them. Too much locked up and i dont want to break my ceiling till i get some back.. IOTA moved from 24 to about 45p... its going nowhere in a hurry, but it has some solid use cases behind it. The Frankfurt airport covid testing runs on one of their networks.. God alone knows if i will be a zillionnaire in a few years or still hodling..

 

[Mudball]

I used HL when I first started but moved away because of their charges.

I am getting to that stage where i think it is getting expensive too... Been using IG for FX and they also do an ISA.. So may move too..