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Just bought my first few stonks am i a moran ??

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  • Just bought my first few stonks am i a moran ??

    Just clicking buttons atm lol

    Was looking to buy when shit hit the fan last month cos figured everything gonna bounce back soon enough but obv being clueless i didn't know where to start and never got round to it.

    After watching everything I was looking at basically double since then I thought ok legoo and signed up for an acct on IG trading which was prob not the best place cos they charge like £10 per trade but at least looks like a legit site. If anyone got better recommendations lets hear it.

    Deposited 1k this morning and spent it on uk shares in easyjet (uk budget airline) HSBC (bank obv) Carnival (uk branch) and Greggs (uk bakery shop)

    A few hours later and everything is up before fees cos i am obv goat trader but after fees I'm down like £25 so I think need find somewhere with better commissions.

    Saying that I've already reloaded another 1k and am gonna buy usa carnival and royal caribbean when usa market opens plan is to just hold everything for a month or 2 and prob double my money easy game.

    But ya if there are any legit sites without such high fees that I can day trade instead of holding lmk I'll take a look see.

  • #2
    apparently options trading in the uk is insanely fee-intensive... (its not just you). check https://www.cmelitegroup.com/ maybe...

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    • #3
      well glad it's not just me getting bone jobbed, friend of mine said his company charges £15 per trade so I may even have stumbled across one of the cheaper places

      what would you be paying per trade in the land of the free ?

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      • #4
        tdameritrade charges 65 cents per contract iirc... some other brokers are cheaper but they also do snake shit like hold ACH transfers for 5 days so they can rake the interest, etc.

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        • #5
          daaaaang us brits getting hella bone jobbed here

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          • #6
            also now that ive owned stocks for 10 hours i can conclude that stocks are faggot

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            • #7
              apart from easyjet, easyjet is god

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              • #8
                update i sold everything and lost a couple hundo stock are faggot

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                • #9
                  i mean, dont get me wrong because im brazenly guilty of yeeting off appalling sums of money based on nothing but spurious vibe checks, but this feels a lot like you limping in late position with trashy connectors because youre bored and tired of watching other people rake pots... you caught bottom pair or something and called to see if you improve on the turn, wasnt feeling it, and decided not to see the river.

                  ok cool, but we both know how tricky it is to be profitable like that.

                  its a difficult market to 'catch the bottom' on because we see so many false reversals based on nothing but hedge funds and institutional investors tossing around fed liquidity injections, and now with the fed cutting out the middle man its going to be even weirder.

                  if you want to make long term plays in covid recovery reliant industries like airlines / cruise lines, imo you have to be ready for much, much lower lows before they turn profitable, or you have to wait for a viable covid cure or at least mitigation before you take a long position.

                  the alternative is just making pure technical analysis plays and going after momentum, which is high variance for even the most experienced and talented traders.

                  if you just want to limp with any two based on position and a hunch, youre going to probably have to do it a few times before you find a profitable spot.

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                  • #10
                    Originally posted by sonatine View Post

                    if you want to make long term plays in covid recovery reliant industries like airlines / cruise lines, imo you have to be ready for much, much lower lows before they turn profitable, or you have to wait for a viable covid cure or at least mitigation before you take a long position.
                    this was the plan, i was basically trying to catch the bottom of corona if that makes sense lol

                    at the time it seemed like a return to normal could be not too far away with cases / deaths dropping and things starting to open up in europe i thought the usa could follow.

                    obv we know what a shitshow the usa turned into and second spikes are a thing in europe too so yeah best case now we finally get on top of things next summer but idk if thats even gonna happen.


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