Reply to: Recommendations for Stock Broker platform

[Fraidycat]

I respect your opinion. This is the exact mindset I had for the past 30+ years until I made an effort to understand it.

Trading looks deceptively easy. Best avoided, unless you enjoy losing money. There is very often beginners luck when Trading as well.. Beginners are fearless in ways that seasoned pros would never attempt, so you could make money starting out, but unless you quit while ahead you will probably lose it all back + more.

[SimonMac]

I use Trading212, use this link and we both get a freebie:

“Do you want to get free shares worth up to £100?

Join Trading 212 Invest with my link, and we will both get free shares.

https://www.trading212.com/invite/19A1GyUdAO”

[BigDataPro]

Why don't you just learn to play poker. It's much more enjoyable.

I respect your opinion. This is the exact mindset I had for the past 30+ years until I made an effort to understand it.

[TestMangler]

Why don't you just learn to play poker. It's much more enjoyable.

[GregRickshaw]

I always have had an impression that stock market is gambling. May be I was conditioned that way during younger years.

Anyway, for the past 3-4 months I have been studying Price Action, practising equity trading, candlestick patterns etc with Mock currency (Paper Trading). Now I want to do it with real money.

I would like to start with equity trading and am looking for a cheap/discount broker platform that doesn't charge too much for every buy/sell transaction.

What online trading platform do you use? Are there any transaction limits per month? What are the fees?

Thanks

It 100% is gambling and there's probably never been a better way to lose money than to 'trade' be it stocks and shares or sports on Betfair or Sporting Index etc.,

[woody1]

You are probably already aware of this, but just in case you didn't. Tradingview & Investing.com provides a comprehensive screeners as well.

https://www.tradingview.com/etf-screener/

No, I hadn't come across this.

Unfortunately, they don't seem to include the ones from "GraniteShares" and "Leverage Shares" which track individual stocks.

Eg. AMD

https://www.morningstar.co.uk/uk/screener/etf.aspx#?filtersSelectedValue=%7B"term":"amd"%7D& sortField=legalName&sortOrder=asc

[BigDataPro]

I use 3x ETFs, which are London-listed, to "gamble" on US stocks (nvda, tsla, appl, msft etc) and commodities. There are also ones for largecap FTSE and European stocks. They're available in both long and short.

I prefer to place small bets on the 3x ETFs, rather than wager larger sums on the underlying stocks.

You can get a pretty comprehensive list by searching for "3x" with Morningstar's ETF screener.

https://www.morningstar.co.uk/uk/screener/etf.aspx#?filtersSelectedValue=%7B"term":"3x"%7D&s ortField=legalName&sortOrder=asc

You are probably already aware of this, but just in case you didn't. Tradingview & Investing.com provides a comprehensive screeners as well.

https://www.tradingview.com/etf-screener/

[woody1]

Both. Just started looking at the fundamentals of few stocks whose CMP is affordable to me at the moment ( < £25). Once done I will look at the Candlestick patterns and then take it from there.

I use 3x ETFs, which are London-listed, to "gamble" on US stocks (nvda, tsla, appl, msft etc) and commodities. There are also ones for largecap FTSE and European stocks. They're available in both long and short.

I prefer to place small bets on the 3x ETFs, rather than wager larger sums on the underlying stocks.

You can get a pretty comprehensive list by searching for "3x" with Morningstar's ETF screener.

https://www.morningstar.co.uk/uk/screener/etf.aspx#?filtersSelectedValue=%7B"term":"3x"%7D&s ortField=legalName&sortOrder=asc

[BigDataPro]

You really shouldn’t be using them, and they should scare you. It’s worthless, correlation over causation. Forget about this chartist nonsense, which makes money for people selling the idea not trading the idea. It’s completely insane to go from fear of the markets to day trading based on a child’s sketch of persistence. Focus on value investing, research companies and their metrics, the markets in which they operate, diversify, use pension money and long timeframes over personal money and short ones. Think Warren Buffet, not scootersnot.

You are right but my opinion, approach slightly differs. My pea sized portfolio is split into 2. 50-60% of them uses Fundamentals as their foundation. These will stay for a longer term while rest uses Candlestick patterns & indicators as the basis for entry & exit.

[BigDataPro]

Which stocks are you targeting? UK (ftse 100, 250) or US (sp500, nasdaq)?

Both. Just started looking at the fundamentals of few stocks whose CMP is affordable to me at the moment ( < £25). Once done I will look at the Candlestick patterns and then take it from there.

[jamesbrown]

I can't believe I'm using these terms. They scared the sh** out me couple of months ago!

You really shouldn’t be using them, and they should scare you. It’s worthless, correlation over causation. Forget about this chartist nonsense, which makes money for people selling the idea not trading the idea. It’s completely insane to go from fear of the markets to day trading based on a child’s sketch of persistence. Focus on value investing, research companies and their metrics, the markets in which they operate, diversify, use pension money and long timeframes over personal money and short ones. Think Warren Buffet, not scootersnot.

[woody1]

For now, I will be focusing only on equity trading (Swing Trade) with only the money I have and that I am willing to let go.

Which stocks are you targeting? UK (ftse 100, 250) or US (sp500, nasdaq)?

[BigDataPro]

if you want super-powered gambling then use a leveraged platform.
You bet $10, they 'add' $90 to your buy. So you now have $100.
If you sell at $150 you pay them back $90 plus a fee (say $5), and you keep $45.

Turning $10 into $45 for a stick that has only increased by 50% is tempting no?


I tried it with this platform https://www.plus500.com/en/?id=12933...hoCn1QQAvD_BwE

Thing is, if the stock dips even a tiny bit, you go into negative, they liquidate 'your' stock and keep your $10, plus any more cash you put in. So only do it if you have a decent amount of cash you are willing to lose.
Almost exactly like gambling. The odds are stacked in their favour.

There's even a warning banner at the top that says " 80% of retail investor accounts lose money when trading CFDs with this provider. "

I completely understand and agree with you. Futures, Options, Intraday trading are very high risk trades for a beginner like me. Options themselves are high risk and CFD's are much more riskier than Options.

For now, I will be focusing only on equity trading (Swing Trade) with only the money I have and that I am willing to let go. That is, I will not be availing E-Margin facility even if the indicators such as Trend, MACD, RSI, Bollinger Bands etc (I can't believe I'm using these terms. They scared the sh** out me couple of months ago! ) confirm that it's going to be a great trade.

[woody1]

Re. leverage

In addition to CFDs, there's also spread betting, futures, options. There are even 3x leveraged ETFs for many stocks.

At least with options and leveraged ETFs, you can only lose the amount you've invested. With CFDs, spread betting and futures, you can lose a whole lot more; potentially draining your account until you get a margin call.

[Lance]

if you want super-powered gambling then use a leveraged platform.
You bet $10, they 'add' $90 to your buy. So you now have $100.
If you sell at $150 you pay them back $90 plus a fee (say $5), and you keep $45.

Turning $10 into $45 for a stick that has only increased by 50% is tempting no?


I tried it with this platform https://www.plus500.com/en/?id=12933...hoCn1QQAvD_BwE

Thing is, if the stock dips even a tiny bit, you go into negative, they liquidate 'your' stock and keep your $10, plus any more cash you put in. So only do it if you have a decent amount of cash you are willing to lose.
Almost exactly like gambling. The odds are stacked in their favour.

There's even a warning banner at the top that says " 80% of retail investor accounts lose money when trading CFDs with this provider. "