im Matt, im 31yrs old from england and iv been interested in investing in stocks and shares for a long time now, but never really done much about it.
iv signed upto etoro - as a friend recommended that is a easy to website for me to be able to buy stocks and shares but now i just need some guidance and advice on how i look into making investments.
I know nothing at all about charts etc as im guessing i need to watch them for investing, so im going to look into doing the course on this website to see if they can help me.
but if anybody can give me some guidance please.
it will probably help if i could you guys ideally id like to invest for the future, so long term investing. i dont just want to buy and sell ( trading im guessing thats called)
thank you and i look forward to contributing to this website more
Helloooo! Welcome to BP @heyArnie2019! I hope we could somehow help you grow as a trader too. Starting with the school here is a good idea. I still check it out every now and then for some things I forget.
Ooooh. I’ve seen a lot of people here complain about Etoro being a scam. Huhu. Might want to check those threads out? But then, Idk. I feel like there are more reliable brokers.
But anyway, welcooooome. Good luck with your trading journey.
There is a very big difference between INVESTING and TRADING.
And from what I gather it is your intention to INVEST in stocks etc. And assuming this is correct: I have to make the assumption that you’re looking more for a “buy and hold” strategy (which may or may not be profitable over time but that’s another whole topic of conversation).
You cannot open a TRADING account for INVESTMENT purposes. Two main reasons: you will be PAYING interest on a daily basis on any INVESTMENTS (in the context of a TRADING account that means OPEN POSITIONS) AND you will in all probability have opened a TRADING account with leverage. The daily interest will simply eat away at any gains and the leverage will either result in your having to constantly prop up the TRADING account balance should the price of those stocks fluctuate or drop for a period or, worse still, will result in you losing the total of your so-called INVESTMENT (should you not have very deep pockets) should the price of those stocks drop enough so as to result in your TRADING account being margin called.
The above all being said and assuming you are attempting to INVEST in stocks but wish to manage such INVESTMENT yourself (this as opposed to entrusting the same to a stock broker or fund manager or investment adviser): I know of only two brokers (same holding company) that offer NO LEVERAGE INTEREST FREE accounts (in other words: CASH as would be the case if you were actually purchasing the stock). And eToro is not one of them suffice to say (and I have to say that I agree with all comments made above with regard to eToro).