RE: Red Braces Brigade27 Jan 2021 21:11
C...Thanks for your posting, no it isn't out of place on this thread, the opposite in fact, it is why we set it up. We fully recognise that we are all trading from different positions with different amounts invested.
I was a computer software engineer, I enjoyed the work so much that I got good at it. It was reasonably well paid but I used my spare time to "moonlight" for other companies, pretty soon I was fulltime moonlighting (1981?)as a sole proprietor then, to save tax, through a limited company. All my work came through recommendation too. My OH jokes that we lived on beans for 2 years so eager was I to get rid of the mortgage. I have never been divorced as I have never been married but we have been together 43 years. We are obviously all different but strangely very similar. My mum used to say that I was lucky, that's true. Having got rid of the mortgage, we moved to a run down house and I did that up myself, learning on the job. This fit in well with my freelance status as my work came in fits and starts. I had done nothing about a pension though although I did invest in TESSAs then CashISAs, these I transfered to Stocks and Shares ISA and the rest is history. It's obviously more complicated than that but not much. Yes maybe, probably, my trade parcels are bigger than yours but this last 12 months I started trading more often with smaller parcels, reducing risk, reducing potential profit. The exceptions here are GGP, NCYT and SNG which account for probably 65% of my portfolio.
Percentage gain on a trade is just that whether it is £1K or £100K, I advocate non stampy shares and use of IG (because they only charge £3 per trade if you trade at least 4 times per month). These things maximise gain. Obviously the commision costs cut into profits for very small trades. I am happy to take a 1% profit if it happens intraday or even over a week then annulised that's a lot. I became very aware that I was waiting weeks for several percent which makes little sense. The other obvious piece of advice I give is that it needs attention. I (and T) spend all day nearly every day potentially trading. By use of audiable alerts, I am able to do quite a few other things simultaneously. I usually fully concentrate for the first hour or two though. Sorry, I diverge. All I am really trying to do is to beat the rate of return on a "decent" cashISA which isn't very difficult.
This reminds me of John Arlott commentating on Snooker and he said: "......one can't help but feel that all he's got to do is to sink the balls!"
From your posting you certainly seem to have your life sorted out. Quality of life and health are paramount. Keep doing what you are doing, I think you've got it made.
S
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