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Online Share Trading

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new to the world of trading shares

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philipvb
New Contributor
hi there im new to this and want to trade paper first but struggeling to set it up.. please advise!!!
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16 REPLIES 16
Not applicable
buy Sappi............,seriousely not difficult.Decide on a share and buy it with fictitious money and then when you want to sell it.The whole purpose is to see if you time your entry correctly using whatever variables you use.
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Valued Contributor
best is paper and pen (not pencil as you can then erase the bad trades). Modern peoples may want to use an excel spreadsheet.
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Super Contributor
i am working on a website, mentioned it earlier, http://ads.orbiterinvestments.com, that will have links that could be helpful to newcomers, it is still very new and i plan to slowly build it up - with the help of the forum member who know where good resources are, so please help me with my mission. i think this could help newcomers who don't know many resources yet... what do you think of my idea?
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philipvb
New Contributor
i have been researching for info and the best site i found is investopedia.. fin24 is also not bad
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Super Contributor
sharenet.co.za is also a good free site, also a forum on there. Think they have monopoly portfolio's there.
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Super Contributor
Werner I think it is a great Idea. I will store the link and will keep poping in to have a look. Nice one.
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Super Contributor
I plan to expand it over time, with recommendations from the users, so if anyone has any ideas, please post them. i already have some recommendations that i will list on the site and we can vote on what would be good to start with. I plan on building a section that will list technical analysis indicators etc. the main site would possibly we investopedia, do you think it would make sense to list these individual items, e.g. Fibonacci Retracements, etc.
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Regular Contributor
Great Idea. For Technical Analysis and Candle stick charting check: www.onlinetradingconcepts.com
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Not applicable
yeah, sharenet has a nice "virtual trading account" to buy and sell shares and see how you do.
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Not applicable
paper trading is a waste of time....you will make great profits and merely set yourself up to lose more money when you trade with real money. I am absolutely convinced of this next statement....more sure and adamant about this than anything else....the most important lesson a trader needs to learn is to make and accept losses....paper trading trivializes these losses......remember we are in a massive bull market so all you actually need to do is limit your losses...with paper trading you typically see big profits and big losses that often turn back into big profits....problem is in the real world you [email protected] yourself and sell when you losses are at their greatest
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philipvb
New Contributor
yeah i follow what you saying but i have just finished my bcom and am not in a finacial position to make a reasonable investment.. thats why i want to learn and practice until i am able to take the plunge...any advise??
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Super Contributor
Very true - you wait for it to turn and it doesn't by the time you have lost a fortune and then only sell out at a loss - Your first loss is your best loss.
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Not applicable
how much do you have? if you dont...wait till you do...hopefully you would have worked as a waiter or dishwasher for the money you are going to put at risk...and when you lose it (because you will) you will have learnt the most important lesson at a relatively cheap cost.Seriously things like the ishare competitions and dummy accounts are a marketing ploy to dupe as many people as possible into believing they can make money from trading. Has any institution ever released the statistics on how many of their clients make money? all you ever see is the top few winners with fantastic profits - a glimpse in time....
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philipvb
New Contributor
i have been told that the minimun you should invest with is R10 000 so that the cost of the trade isnt too significant.. do agree with that figure
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Not applicable
Ja thats cutting it fine....I would say for this amount you should work it out like this....never put more than 5% of your trading capital at risk which is R 500 which means on a stoploss of 20% you can trade R 2500 at a time which is too small to be able to cover your costs...R 500 would be a 30% proft...you could do it but its cutting it fine...
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gida
Contributor
eish guys... y'all are right... I sold my AFO shares at their lowest... but they kept on losing money EVERY DAY... +/- R600 lost...(-20%) then have bought ppc at what seems to be their highest... but then I'd been greedily eyeing said share from R425... Real money is good to trade with but it has to be money that you are "prepared" to throw away and learn from your mistakes... I've never had as many heartattacks as I have since joinin here... am going to take my hopeful payout from ned pref shares to invest more... but would not put my R100k life savings betting on shares... (at least not until I'm more adept)
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