| What do I need to really know and understand about the stock market? 09:18 - Feb 1 with 2918 views | ThisIsMyUsername |
I would like to gamble and make a quick buck on the next Gamestop.**
Now that I have your attention, seriously I would like to make a few sensible, long-term investments. I am only looking to start with a very small trading account of about £1,500 max, to hopefully over the next few years increase my overall 'wealth' by more than I would make from any bank interest. I was already thinking about this before the Gamestop hype last week.
I have a few stocks in mind already, into which I am thinking about putting £150-£200 each, and then just leaving it and hoping the value increases by a few %. I would also keep an ear to the ground regarding any short-term hypes, of course.
I've watched a few videos about the basics of fundamental and technical analysis, charts, trends, and when to idenfity an entry point etc. However I do not understand the workings of the stock market beyond a very surface level.
I've watched/read a few things in the last 24 hours suggesting a stock market crash might be coming soon, and that it therefore might be best to wait a couple of weeks before investing even what is only a small amount.
Any advice please for a newbie investor?
Thanks.
**Of course, if I could get in on the 'next Gamestop', that would be great. [Post edited 1 Feb 2021 9:21]
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| Real Wolf of Wall Street: 'You could lose all your money' on 14:51 - Feb 4 with 312 views | J2BLUE |
Did they really need to go to him for such an obvious statement? |  |
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| What do I need to really know and understand about the stock market? on 15:21 - Feb 4 with 297 views | Radlett_blue |
| What do I need to really know and understand about the stock market? on 11:36 - Feb 1 by ThisIsMyUsername |
Many thanks for all of the non-advice advice :)
I do quite like the look of the H&L Stocks and Shares ISA whereby I can tell them what types of industries I am interested in, what sort of risk I am willing to take etc, and then let them run it for me.
However I do also like the idea of being more pro-active in investing myself, and taking full agency for my investment decisions. It's just whether I feel like I have enough knowledge of how the market works to do this (currently I don't). Also it is obviously more time-consuming, even if making longer-term investments.
As a potential alternative option I might contact H&L initially, and explain the types of investments I was thinking of making, and see what advice they give me. Then I can consider more whether to go it by myself or not.
On a side note, if I would create my own portfolio myself I was thinking of using Trading212, which has 0% fees. [Post edited 1 Feb 2021 11:37]
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Unless you are very knowledgeable - and you say that you aren't - if you punt on individual stocks you are essentially gambling. You might do well; you might not.
If you have spare money & a long term investment horizon, I would put spread some money between a few low cost funds, rather than individual stocks. Returns are unlikely to be spectacular, but you should make a decent return over the longer term.
Hargreaves Lansdown are a good platform, but I personally wouldn't let them run a portfolio for me as I would question how much value their management adds while you will also have to pay fees (the big detractor from longer term performance). |  |
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