RE: Red Braces Brigade24 May 2020 19:47
HI A,
I was wondering that myself ... some people have weekly / monthly / quarterly targets, others may have a particular goal say a holiday home or new car ( mine is a half serious get a fast Tesla by xmas ).
I think I am similar to S's comments even though i have only been trading since Feb 20, I aimed to beat the interest rate with "spare money", and that was before the interest rates collapsed ( from 1.1 - 1.5% to 0.1 and 0.25% for savings and ISA respectively ).
I had a few inherited shares that I only looked at when I wanted a big purchase, watched daily if they rose / fell and sold - to say pay for a holiday or house extension or car etc. so I sold / transferred them to HL and put in cash sat in a normal savings account.
I was happy not to lose money at first and tried to trade small numbers of shares ... but it needs a big low to high price to make much with a small number of shares. 100 shares - £1 per penny rise, 1000 shares £10 per p rise in price etc. but also same amount as prices fall! Also affected by price of share; a 0.1p share needs a huge rise although you would buy 10000 or 100,000 shares while a £10 share may change 30p, 60p or more in a day - see CCL.
I started with A few thousand, then increased up to £25k, and added to it as I realised I could make more with more capital but not a huge amount in here.
Now I am getting the hang of trading, I still haven't set myself a daily / weekly target, but a 3 - 5% increase in value of each share holding at sell is nice.
I would like to set say 1% a week / 5% / month increase of my capital as a target, as S said that would be 50 - 60% increase over the full year! But it was over 3% this past week alone based on 2 good days! And I missed 3 good profit trades as well!
Hope that helps,
V
Sign In
Follow the stocks
