Thought I would start a new thread, seeing as there doesnt seem to be much chat on this topic.
I've came to the decision that to stop myself gambling so much outwith MB'ing, i need to tie up more cash in other things.
I have 5k in my float, which is healthy enough for what i need it for at the moment, but looking back over the past few months, i've also spent a few K in the casino, which at the end of the day, may have been entertaining at the time, certainly provides no benefits to me, bar a really big hole in my pockets.
As such, I'm going to delv into the world of shares. I've done some research, and have opened an account with III.
There are no bonuses here, and this is purely as a means of a learning curve. I've written some basic software before for other people to monitor trends in markets etc, and i've also been asked to provide "outsider advice" for other peoples investments.
If i could make a living of this, then that would be awesome, and perhaps a potential goal. Any losses I make in trading I intend to cover fully with my profits from MB'ing, so in a sense, this will become a form of saving for me.
Does anyone else here trade in shares?
I guess the usual advice would be for newcomers to invest in funds, so your money is more diversified, and depending on any big gains/losses, what mark would people reccomend that i cap my IRR to lock in profit. Say for example if i trade in lots of 1k, and i get to a point where I am up £150 from the starting point, should i then take out some of that profit, say £100 and bank it?
As a banking/savings vehicle, for this purpose I intend to use Zopa, to ensure I cannot get access quickly to the cash, and to provide a higher rate of return, than most banks currently offer, albeit slightly more risk.
Anyhow rant over, if anyones interested, i may keep a log here of my trades, but this will be kept a week/two behind my actual activity, in so allowing performance at that point to be measured.