RE: Figures20 Nov 2020 18:27
Hi Craig,
Since you are honest enough to admit you are a nervous novice, I will ask you to choose which camp you want to be in: Li-Low or Yo-Yo? These are the two types of investors on these BBs. Yo-Yos buy to make a quick profit, think they can time the share's top and bottom and spend a lot of their cash on brokerage and stamp duty where applicable, becuse they trade so much. Li-Los, on the other hand, try not to worry day to day or even week to week and aim to sell only when they feel they have seen a healthy profit or fear an even bigger loss. Obviously that is simplistic and you can hold more than one portfolio as I do and to some extent play both: Safe and boring usually I li-Lo: Speculative I trade more often and aim to have one or two big winners to make up for the duffers. This is very risky time-consuming and may well take many years and much frustration before it might - just MIGHT work out. Many of those on BBs are just Yo-Yos. There are also people on here who just try to manipulate the share prices of the small risky shares for their own benefit, so beware if you like the idea of 'having a flutter! And finally, make sure you have enough cash or near cash in case the car claps out or life is otherwise unkind.
Oh and the very best of luck. Olda