The Student Room Group

i played the markets again today, and made $500 virtual dollars

this is only fake money, but in a week or two i am hoping to deposit some real cash down, and thus make some real money back. My shares are in gold chip companies, well established and on the up and up. I don't trust precious metals or the currencies at the moment to be honest with you!
(edited 7 years ago)

Scroll to see replies

Dont play. You will only lose your money. Its easy to make virtual money. Stock market is just pure luck unless you really know the trick behind it
Remember 90-95% lose money in the stock market so I wouldnt bother if I were you
(edited 7 years ago)
Original post by john2054
this is only fake money, but in a week or two i am hoping to deposit some real cash down, and thus make some real money back. My shares are in gold chip companies, well established and on the up and up. I don't trust precious metals or the currencies at the moment to be honest with you!


Plus how mucch money you putting in?
(edited 7 years ago)
Reply 4
Original post by ThunderStormzy
Plus how mucch money you putting in?


£2000 i think i am getting a rain check in a week or two, and i can invest this.

Plus my trust advisors recommended me to dabble in the market, just to see how it works, even if i don't expect to make much money. But the fact that i am breaking even on my simulation account, to the tune of $500, means that i will most likely do well for real cash as well. I will just transfer the funds in to the same shares i have done on the dummy account.

You sound like my dad.
Original post by john2054
£2000 i think i am getting a rain check in a week or two, and i can invest this.

Plus my trust advisors recommended me to dabble in the market, just to see how it works, even if i don't expect to make much money. But the fact that i am breaking even on my simulation account, to the tune of $500, means that i will most likely do well for real cash as well. I will just transfer the funds in to the same shares i have done on the dummy account.

You sound like my dad.


Its always easy to make money from demo accounts. Also with that amount of cash you will have to play smart or you will mostly lose money because first you have to recover the fees to get to the profits. Its your choice but theres a 90-95% chance of you losing money.
Reply 6
Original post by ThunderStormzy
Its always easy to make money from demo accounts. Also with that amount of cash you will have to play smart or you will mostly lose money because first you have to recover the fees to get to the profits. Its your choice but theres a 90-95% chance of you losing money.


what fees? By depositing $2500 + i actually get a $1000 bonus from the company, which makes it in my interest to start off at this level. Or are you suggesting that £2000 is not a lot of money???
Original post by john2054
what fees? By depositing $2500 + i actually get a $1000 bonus from the company, which makes it in my interest to start off at this level. Or are you suggesting that £2000 is not a lot of money???


Every time you buy a share you have to pay a fee. Every time you sell a share you have to pay a fee. This is regardless of whether you make a profit or loss. For some brokers its as much as 10 pounds per trade which means you have to pay 20 pounds for buy and sell which means you have to recover those 20 pounds first, then you will start making a profit. Lets say your shares only go 10 pounds up, but then you've still made 10 pounds loss because of the fees. With 2000 pounds you would have to let your shares go up at least 1% lets say from the above broker until you start making a profit. It can be a lot of money for a person that knows what they are doing. You seem like a beginner so I dont think you would know where to sell the shares incase it doesnt reach 1% etc.
Reply 8
Original post by ThunderStormzy
Every time you buy a share you have to pay a fee. Every time you sell a share you have to pay a fee. This is regardless of whether you make a profit or loss. For some brokers its as much as 10 pounds per trade which means you have to pay 20 pounds for buy and sell which means you have to recover those 20 pounds first, then you will start making a profit. Lets say your shares only go 10 pounds up, but then you've still made 10 pounds loss because of the fees. With 2000 pounds you would have to let your shares go up at least 1% lets say from the above broker until you start making a profit. It can be a lot of money for a person that knows what they are doing. You seem like a beginner so I dont think you would know where to sell the shares incase it doesnt reach 1% etc.


You are right that you have to pay fees on trades, and because of that reason i am only up $500 on my virtual account, instead of $2000 plus. I did some dodgy deals that didn't work out. But i am still getting a feel for the system, and also testing out/trying new stock to see if any of them take. I currently have three cast iron trades rolling over, which seem to be making money every day, and so it is my intention to buy these with real money, when i get my pay checks in, and hopefully watch the profits continue. Thanks for caring about me though.

On a side note, i also play chess, and consider watching the progress of the stock markets to be not disimilar to the progress of my chess rating, although i'm not sure that you will be able to see the similarity to this??
Original post by john2054
I currently have three cast iron trades rolling over, which seem to be making money every day, and so it is my intention to buy these with real money, when i get my pay checks in, and hopefully watch the profits continue.



Are you just guess trading or do you have a system, if so what kind of system and I dont mean buy the stocks that are doing good.
Please don't link to these sites. You are more than welcome to discuss it, but considering the harm someone could do to their equity it is advised you keep it general and don't link to these sites.
Reply 11
Original post by ThunderStormzy
Are you just guess trading or do you have a system, if so what kind of system and I dont mean buy the stocks that are doing good.


I can't give away all of my secrets now can i??
Reply 12
Original post by iEthan
Please don't link to these sites. You are more than welcome to discuss it, but considering the harm someone could do to their equity it is advised you keep it general and don't link to these sites.


sorry about that
Original post by john2054
sorry about that


It's not a problem!! Really! :smile:
Original post by john2054
I can't give away all of my secrets now can i??


Lol just tell me the general system you are using
Reply 15
Original post by ThunderStormzy
Lol just tell me the general system you are using


You wouldn't understand it. It involves candlesticks!
Original post by john2054
You wouldn't understand it. It involves candlesticks!


?

I can tell you Ive heard of all methods. In any case it doesnt matter. Most of them dont work and you would still be guessing. So just an advice to give up on it. Ive spent lots of money on it until I found the right method.
Reply 17
Original post by ThunderStormzy
?

I can tell you Ive heard of all methods. In any case it doesnt matter. Most of them dont work and you would still be guessing. So just an advice to give up on it. Ive spent lots of money on it until I found the right method.


Have you heard of the candlestick method then? And what is the system which works for you??
Original post by john2054
Have you heard of the candlestick method then? And what is the system which works for you??


The candlestick method is no good by itself, its usually used with a combination of other methods. Also Im not telling my method as Ive spent lots of money figuring it out through trial and error :smile:. I do suggest you do more research as I dont think you're quite ready yet, although most systems out there dont work. I dont think anyone will tell you the 'real' method because we've all spent money figuring it out. So its a waste of money really.
Reply 19
Original post by ThunderStormzy
The candlestick method is no good by itself, its usually used with a combination of other methods. Also Im not telling my method as Ive spent lots of money figuring it out through trial and error :smile:. I do suggest you do more research as I dont think you're quite ready yet, although most systems out there dont work. I dont think anyone will tell you the 'real' method because we've all spent money figuring it out. So its a waste of money really.


What platform do you use? And what nationality are you? Somehow you don't strike me as a native to the UK?

Quick Reply

Latest