How to start trading shares

[Moose423956]

I am retiring at the end of the month, and looking for things to do to fill my time. Got a few ideas.

One such idea was to have a go at share trading. I would just deal with small amounts, seeing it more as a hobby than trying to achieve an income.

Does anyone have any advice about how best to start out? Are there apps that let you set up a virtual account so you can practise trading with real share data?

Cheers
Moose

[_V_]

First thing to decide, are you trading shares (like buying and selling them over days and weeks) or investing (buying and holding for years to come)?

Do you think you are a better stock picker than Neil Woodford?

[northernladuk]

I am retiring at the end of the month, and looking for things to do to fill my time. Got a few ideas.

One such idea was to have a go at share trading. I would just deal with small amounts, seeing it more as a hobby than trying to achieve an income.

Does anyone have any advice about how best to start out? Are there apps that let you set up a virtual account so you can practise trading with real share data?

Cheers
Moose

If you can't do the research in to what platforms to use how are you going to do the research in to which shares to buy

[DealorNoDeal]

I've been thinking of doing the same

If you google stock trading sim, there are loads. Even the LSE provides one:
https://www.londonstockexchange.com/...-and-watchlist

I haven't tried any, so I don't know if they're any good. However, a sim can never prepare you for having real money on the line.

One thing that was told to me by an experienced trader is that trading is really just a polite name for gambling. He also said that the vast majority of what is in books, on-line or taught in seminars is BS and doesn't work. His only advice to me was bet very small.

[Moose423956]

First thing to decide, are you trading shares (like buying and selling them over days and weeks) or investing (buying and holding for years to come)?

Do you think you are a better stock picker than Neil Woodford?

Hi
Just trading shares over days and weeks. Who's Neil Woodford?
Moose

[GitMaster69]

It’s zero sum game. I’m balls deep into trading and can tell you: walk away and enjoy your life ;-)

[Moose423956]

If you can't do the research in to what platforms to use how are you going to do the research in to which shares to buy

Well, I always like to hear about personal experience of things, whether it be trading apps or cars or recipes. So this is me doing my research :-)
Moose

[northernladuk]

Well, I always like to hear about personal experience of things, whether it be trading apps or cars or recipes. So this is me doing my research :-)
Moose

Hee hee.. HL has a watchlist function so you can add and remove from there but I doubt HL will be your go to choice because of the fees.

I would totally add what the others have said. After been dabbling for years I'd stronly advise anyone 'getting in to it' as i'd agree it's just gambling. I'd also agree that all the analysis stuff, tips and so on are utter guff so I'm done with it.

If you still want to then there are plenty of simulators around. Some are linked here but easy enough to find in google.
https://corporatefinanceinstitute.co...ck-simulators/

If you jump in now it's not going to be too hard to pick stocks still recovering after covid so a positive portfolio at this point is going to give you a false sense of success and when everything dips it doesn't matter how good you think you are you are gonna take a dive. But again, I've tried it, came to nothing so I've a dim opinion of it now.

[DealorNoDeal]

It’s zero sum game. I’m balls deep into trading and can tell you: walk away and enjoy your life ;-)

I read somewhere that 95% of people, who try, fail. The only thing that varies is how much they risk on each trade ie. how long it takes them to lose their capital.

https://www.inspiringquotes.us/quotes/DTsO_709aieus

Ed Seykota: There are old traders and there are bold traders, but there are very few old, bold traders.

[_V_]

I think the chances of buying and selling shares over short periods is not likely to be profitable.

Technical Analysis is horse tulip, and analysing a share from financial does no predict the winners. Sound companies with profits tank, speculative loss making crap can rocket in price.

Better to invest either lump sums or monthly amounts with a long term buy and hold strategy and sell when you rebalance or you need the money.