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Stock trading tips
markycash
Member Posts: 2,837
I read an article several years back which suggested that poker players made good stock traders. If I remember correctly the well thought out article didn't bother with silly little things like producing any evidence to back up this assertion. The thinking behind the assumption seemed to be that we - as poker players - are good at making decisions and that this was a transferable skill set which meant we could make a killing in the markets something like Jordan Belfort in the Wolf of Wall Street.
If the article writer had seen some of my decision making he might have realised just how shaky ground his assumption was on but hey ho that is another story.
Anyways, with time at a premium due to work commitments - and being someone who is partial to acrazy bet sound investment - I was looking for something to have a flutter on that wouldn't be overly time consuming. I decided that the article author obviously knew his stuff so I joined the dots and decided it was high time I got my best suit on and headed to the financial district so I could get trading. Then I remembered I don't have the time to do that and that the internet has been invented so instead I sat in my boxer shorts with a coffee and opened an online trading account.
I then undertook extensive research, watching at least 2 YouTube videos, back to back. After around 14 minutes I decided I was ready to make my bid to be the next Jordan Beltfort and threw £400 into an oil company. The shares had took a dive and, my research and transferable skills set at making good decisions, suggested that if I invested now the only way was up. Well, apparently the only way wasn't up. My research and trading skills had let me down and the shares plunged from £1.41 to 39p within a week (see graph below). What was that article author smoking?
Obviously I was running somewhat -EV so I wasn't put off and decided to double down and invest in Balfour Beatty. Thankfully this went a little better and I don't need to start busking in the local town to pay the bills just yet.
So have any of you dabbled in stocks? Got a more successful story? Or, do any of you care to share a few tips on here so that we can all earn a few £'s and retired to the south of France in 2020 or at least trade in such a way that we lose a little less.
If the article writer had seen some of my decision making he might have realised just how shaky ground his assumption was on but hey ho that is another story.
Anyways, with time at a premium due to work commitments - and being someone who is partial to a
I then undertook extensive research, watching at least 2 YouTube videos, back to back. After around 14 minutes I decided I was ready to make my bid to be the next Jordan Beltfort and threw £400 into an oil company. The shares had took a dive and, my research and transferable skills set at making good decisions, suggested that if I invested now the only way was up. Well, apparently the only way wasn't up. My research and trading skills had let me down and the shares plunged from £1.41 to 39p within a week (see graph below). What was that article author smoking?
Obviously I was running somewhat -EV so I wasn't put off and decided to double down and invest in Balfour Beatty. Thankfully this went a little better and I don't need to start busking in the local town to pay the bills just yet.
So have any of you dabbled in stocks? Got a more successful story? Or, do any of you care to share a few tips on here so that we can all earn a few £'s and retired to the south of France in 2020 or at least trade in such a way that we lose a little less.
Comments
Here they are in various cats
HIGH RISK -LOSSES SO FAR
APPLIED GRAPHENE MATERIALS
HUMMINGBIRD RESOURCES
INSPIRIT ENERGY
DIVI SHARES
JOHN LAING RENEWALS TRUST
HICL INFRASTRUCTURE TRUST
NICELY THANK YOU
RENEW HOLDINGS
HOWDEN JOINERY
ENTERTAINMENT ONE
GOOD LUCK WITH YOURS