any advice ( just starting )

i know most of you will not have time for people like me who have just starting. but never get anything if you dont try. im in the middle of reading books and searching the internet trying to understand the terms and how things work and what to do and hopefully what not to do. but is there any advice for a beginner like me? i am not really after any tips to which stock to go for just advice what you would have liked to be told before you got into the business. ps i am a working man so this will be an after work hours project does that change things alot?

thanks for your valuable time guys/girls

It would depend a lot on whether you are investing a large sum or building a portfolio up from the ground. The most important thing is patience and making sure that you don't put too much of your capital in one area. If you gamble it may give you a great feeling when you win but eventually the losing streak will come.

find a share which is currently undervalued by assets and ideally by PE ratio too. then work out your entry and exit points in it according to oversold and overbought priniciples of technical analysis on a daily and weekly timeframe. the best trends happen on the weekly oversold overbought swing and take a good 2-3 months to form and develop. capital size is unimportant on the whole if playing the 2-3 month swings.

lots of keywords in the above. google those you don't know.

I would advocate a risk management stratedgy as you are looking only end of day with no time to react to situations throughout the day I assume.
Look at the following it may be of help if not to your liking just ignore :-)

Size of your account(x£) so you work out your max risk on a share you want to buy you must then work out your max loss from the per share price (this is the point where you know your buy would be wrong) then divide max loss by the pershare loss this will then tell you how many shares to buy of that stock for example:

account of £10,000 or 1000000p stock you to buy you see your max risk of £500 or 50000p the stock is at 37p and you note 33p is your stoploss so you can now workout how many to buy

50000p/4p=12,500 shares at a cost of £4,625 but knowing your stoploss you are only risking £500 obviously this is to big for the account size as you would have to much of your account in one share.

If the share went your way you would move the stoploss to breakeven when appropriate to you, only you press the buttons so you must take responsibility.

I hope this helps and good luck :-)

royjohn wise words :-)

thanks guys all advice is taken on board there is no rush i am in it for the long run ive read about loads of systems but i keep looking at it all learning all the terms and looking for my own system then that way i know whats good and bad and when to get in and out

There are some great books out there on the subject - Naked Traders book is a personal favourite - it's a great intro with some tricks of the trade. http://www.amazon.co.uk/Naked-Trader-Anyone-Trading-Shares/dp/1905641516

You could also come along on the course next month ;-) www.lse.co.uk/events/