I've been seriously interested in stock trading for a while now and want to start acting upon it.
I've got a fair few thousand saved and am willing to use this to get things rolling, BUT need advice regarding a few things:
>which online trading platform to use
>how you first started trading
>your approach to first time trading
>how you select your purchases/tip off's
>tactics employed when there are rises/drops in stock value
any other info you deem important appreciated
OP here
Would also appreciate being directed to a concise website/blog/pdf for this.
>UK based so RobinHood is out of the question currently
bump.
i know you guys can help me with this
>>1357495
Alright I'll bite. First off I'm assuming you're a normie with low funds, so no Robinhood is a massive crime for you.
>which online trading platform to use
Most traders get utterly fucked at common places because of the $5-$8 trading fee. If you're buying $1,000 of stock and you pay 5 to buy and 5 to sell, you lost 1% of your money when you'll statistically not make more than 5-7% in a YEAR. You want to sign up for Vanguard with a minimum of $3,000, buy into a total market setup like VTSMX. It has no trading fees and instead charges 0.16% of your portfolio annually.
>how you first started trading
I started with Robinhood, dumping $400/month into it and buying up single stocks in multiple sectors (pharma, tech, insurance, construction, delivery, telecommunications, agriculture, media). I made 8% gains when the market only gained 6%, so it was decent for my 10 month trial before I sold it all to buy my condo.
>your approach to first time trading
I researched the fuck out of everything and took it all with a grain of salt. I compared /biz/ threads to any google top 15 results for "good stock portfolio", "first time stock picks", etc. When I wanted to buy into a new industry I'd google something like " best telecommunication stock", "fastest growing telecommmunication stock", "most promising telecommunication stock". Then I'd compare and contrast and see which ones people thought were good because of their past and which ones people thought were good because of their potential, and I balanced a combination of the two depending on the industry. It's retardedly easy, but it gives a real feel for the system if you have a passion for learning.
>how you select your purchases/tip off's
See above. I also had 10-15% of my portfolio in meme stocks from /robinhood/ threads, which paid off handsomely a good amount of the time, but when a meme stock is dying it can die hard. Risk vs Reward.
>tactics employed when there are rises/drops in stock value
Alcoholism.
>>1357847
Forgot to mention, the 3k into vanguard is so you can gain from the market. Toss whatever you can into there per month (make sure it's money you can live without, you don't want to sell for decades unless it's to buy another investment like a business or land).
Once you have ~100k saved you can sell it all and start investing in a different trading platform like Ameritrade or some shit because the commissions won't ream you so hard.
>Trading
I wish gamblers would leave
>>1357847
>Most traders get utterly fucked at common places because of the $5-$8 trading fee
You mean "most people gambling with $100", right?
Traders would never touch that low grade dogshit app.
>>1357858
>You mean "most people gambling with $100", right?
Yeah, I do. I opened with the fact that I'm assuming he's a normie with low funds. Professional traders with large funds don't touch that shit, but anyone who trades stock is a trader.
>>1357862
>anyone who trades stock is a trader.
No, a trader is someone whose job it is to trade.
People fucking around in the market may be trading, but they aren't "traders".
