RE: Can you trade for a living?27 Jul 2024 14:14
My opinion is this. It is not advice:-
To start with I would suggest you spend at least a year experimenting using small amounts of money whilst carrying on a full-time job as I did. Small amounts being say less than £200 per trade. Money you can afford to lose of course.
Keep accurate records of wins and losses on a spreadsheet in addition to your broker trading account. I find looking up previous trades easier on a spreadsheet. Easier to make notes too of course.
To have a chance full time I think you would need a minimum of £50,000 cash you could afford to lose IMHO.
I am currently nicely ahead. But that could change in an instant.
The bigger Companies (FTSE 100, 250, 350) are safer as is well known. Still easy to lose a wad though.
If investing in smaller Companies check when they last raised money in the markets.
A placing with a heavy discount will cost you a load, especially if you can’t afford to take part in the open offer (assuming there is one!).
I have a position here, but I know Genedrive raised £6m in May.
As the saying goes "if it was that easy, everyone would be doing it"........................
It is exciting and interesting of course.
Anything you do is at your own risk.
All IMHO.