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GKP
11 years 11 months ago #9788
by Jackozy
Hi Mine the Money,
Well, you've come to the right place if you want to learn about trading!
The best advise I can give you is to keep it simple and stick to the rules. And I mean STICK TO THE RULES. There is ZERO room for hope and expectation in trading (something I'm still struggling with) and only a clinical approach will have a chance of winning.
To that end, I strongly advise that you look each week at remo's share tips (see tab above - you may need to subscribe to access it but it's worth every penny 1000 times over imho) and see how simple trading strategies can reap their rewards.
A good example: you'll note if you look that GKP almost never appears in remo's tips. Why? Because it's very rarely at a key trading level (it's mostly a sideways moving share which will take your money every time). With all due respect, your 106p entry is technically in the middle of nowhere and your support at 95p the same. This share should only be entered now on a 123-low basis (see the learning section of CV) or on a drop to the next support at 64-67p. The gap at 138-144p may well get filled but, imho, that is a clear sell area.
You'll also find that most, if not all, the successful traders on here know next to nothing about fundamentals (and care even less probably). This becomes even more relevant the shorter the timescales you want to trade.
Finally, if you've been drawn to trading because you've been burnt by GKP's price history then can I urge you to be very careful. Trading is not easy (though the PIs on III will tell you that it is and that they're responsible for what's happened). It takes a lot of work and discipline and you must be able to deal with failure (losses) on a regular basis. Strict money management is absolutely critical.
Even then, when you've learnt all about TA and money management, you still need to be able to make good decisions. Like any top class sports person, training is key but you still need to be able to perform in the high pressure environment of competition or to play what's in front of you and not what you learnt on the training pitch. Nobody ever won a gold medal in training so I urge you to open a demo account and practice in the semi-real world. Even pretend £s will focus your attention and show you that it really isn't as simple as taking candy from a baby.
Good luck with your venture and please keep us informed as to how you progress. We are all still learning and sometimes it's good to go back to roots and re-learn the basics
Well, you've come to the right place if you want to learn about trading!
The best advise I can give you is to keep it simple and stick to the rules. And I mean STICK TO THE RULES. There is ZERO room for hope and expectation in trading (something I'm still struggling with) and only a clinical approach will have a chance of winning.
To that end, I strongly advise that you look each week at remo's share tips (see tab above - you may need to subscribe to access it but it's worth every penny 1000 times over imho) and see how simple trading strategies can reap their rewards.
A good example: you'll note if you look that GKP almost never appears in remo's tips. Why? Because it's very rarely at a key trading level (it's mostly a sideways moving share which will take your money every time). With all due respect, your 106p entry is technically in the middle of nowhere and your support at 95p the same. This share should only be entered now on a 123-low basis (see the learning section of CV) or on a drop to the next support at 64-67p. The gap at 138-144p may well get filled but, imho, that is a clear sell area.
You'll also find that most, if not all, the successful traders on here know next to nothing about fundamentals (and care even less probably). This becomes even more relevant the shorter the timescales you want to trade.
Finally, if you've been drawn to trading because you've been burnt by GKP's price history then can I urge you to be very careful. Trading is not easy (though the PIs on III will tell you that it is and that they're responsible for what's happened). It takes a lot of work and discipline and you must be able to deal with failure (losses) on a regular basis. Strict money management is absolutely critical.
Even then, when you've learnt all about TA and money management, you still need to be able to make good decisions. Like any top class sports person, training is key but you still need to be able to perform in the high pressure environment of competition or to play what's in front of you and not what you learnt on the training pitch. Nobody ever won a gold medal in training so I urge you to open a demo account and practice in the semi-real world. Even pretend £s will focus your attention and show you that it really isn't as simple as taking candy from a baby.
Good luck with your venture and please keep us informed as to how you progress. We are all still learning and sometimes it's good to go back to roots and re-learn the basics
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11 years 11 months ago #9787
by Mine the Money
Replied by Mine the Money on topic GKP
Hi guys,
GKP has held at support of 100p today which seems is good. I believe GKP is been listed tomorrow onto the FTSE 100 so all we can do is cross all thing possible and hope for the best.
Anyone else feel the gap at 139.83-143 need to be filled?
I have opened an account with TD direct investing on sunday because I wanted to dabble in short term trading and HSBC dont do stop losses and limit etc.
I did buy some GKP at 106.7p this morning
with a stop loss at 95p 
. I am really new to short term trading so it is going to be a steep learning curve for me.
Any suggestions or pointers would be most appreciated even if it means heavily criticizing me I want to learn.
GKP has held at support of 100p today which seems is good. I believe GKP is been listed tomorrow onto the FTSE 100 so all we can do is cross all thing possible and hope for the best.
Anyone else feel the gap at 139.83-143 need to be filled?
I have opened an account with TD direct investing on sunday because I wanted to dabble in short term trading and HSBC dont do stop losses and limit etc.
I did buy some GKP at 106.7p this morning
with a stop loss at 95p . I am really new to short term trading so it is going to be a steep learning curve for me.Any suggestions or pointers would be most appreciated even if it means heavily criticizing me I want to learn.
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