Guide to Get Started In Share Dealing and Trading
If you are a new investor, or searching to find information on trading shares or markets, then you have come to the right place. This guide to share dealing and how to get started is aimed at new investors and experienced professionals. We will cover dealing in shares, the fees and taxes you should know about, how to monitor prices and terminology involved.
The market is a daunting place for new investors, with that in mind it is always a good idea to arm yourself with as much solid information as possible before spending your hard earned money on shares. After all, knowledge is king (as they say)..
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It is a fact that many new investors lose all their money when they trade shares. This is often down to poor money management and greed. These are the two biggest pitfalls associated with investing.
When a trader gets too greedy, they usually miss out on selling a share because they think the price will continue higher. Usually the share price is at a high when the investor thinks "wow, I am amazing at this".. It is at this point that the market will take it all back from you and move you into a loss. To keep an eye on prices you can see them each day here: http://www.livecharts.co.uk/share_prices/share_price.php
To avoid this painful trap on trading share prices, you need to have a proper trading plan. This involves knowing how much money to risk when you buy the shares, you need to know when the trade is going wrong and when you exit with a small loss. And crucially you need to know when to sell with a profit.
Having pre-defined rules before you begin is essential to being successful trading shares.