Andy Murray vs Andreas Seppi, Saturday, Estimated time - 4:30pm BST - Discuss the match
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The Stock Market

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Been wanting to invest for a few years now, but didn't really have the capital as a skint student to do so.

A subject I've always been interested in. Does anyone else on the forum trade at all? I know Mark had a portfolio at one point. Any tips, Mark?

If it weren't for the aftermath of PPI, I might have considered one of the UK banks. The only way is up, and all that.
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Given that you are young, I think you can afford a lot of risk. If you are opening a portfolio, don't forget to diversify it so that you can protect it just in case. That would be my suggestions. Also, you have to be very patient because the markets have their tendencies.

Mark will probably be able to help you more with that since he's in the same market as you are.
[ Last edit by Emma Jean November 14, 2012, 07:10 PM ] IP Logged
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Property or wine best.
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Andrew.. the safest place to keep your money is under your mattress.
There's nothing worse than checking your portfolio to see your numbers deplete at the hands of others playing with your money.

We pulled everything out of UK, and are now diversified mainly in Canadian companies and banks.

We had to do a personality test to see what our comfort level would be. We are mostly long-term, stable but with a little bit of risk. You should do a test to see what you would be. Our bank did it with us.
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Scot, when you say Canadian companies, which companies are you referring to? I just want to see if we are one them. Smile
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I know Mark had a portfolio at one point. Any tips, Mark?

I do still spend quite a bit of time on the stock market but not trading much, just looking after my long term investments in oil.

I'm certainly not qualified to give advice but generally I would say: Start out small fully expecting you'll lose it. And be positive about that because they are necessary lessons and will help you understand whether you have the right character. Doing well on the stock market as an aggressive investor (opposed to particular funds) is about character first, and then time, effort, intelligence. Don't diversify for the sake of it - a handful of companies is good to manage. And especially don't diversify between sectors. Pick a sector of interest and stay within it.

Oh and if every time you look at your portfolio you don't just see numbers but instead make materialistic connections (new tv, shoes etc), then you're gunna have a bad time. Wink
[ Last edit by Mark November 14, 2012, 08:07 PM ] IP Logged
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Scot, when you say Canadian companies, which companies are you referring to? I just want to see if we are one them. Smile
I'll check later and send you a PM.
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