I want to start trading on the stock market

[greenglas]

Just that really. It’s something I’ve always wanted to do, am interested in and I’m keen to get started.

The first thing I need to do is choose an app - I like the sound of Freetrade, but is it better to go with something like IG, HL or AJ Bell?

Beyond choosing an app, does anyone else invest in stocks and shares and if so, how much money have you made and do you have any advice or worldly wisdom you could share?

Thanks!

I would view trading and investing as being different things.
Do you have money you can throw away on a speculative bet? You may be a multi millionaire for all I know and have money to burn... so you could be a trader and risk a little by buying shares in a particular company.

Most people though do not have money to throw away on a speculative bet. They have money to invest for the long term in a mixture of global equities, gilts, bonds, property and other assets.

If you are a trader you want a trading app.
If you are an investor you want a low cost platform that gives you access to the multi asset funds which you feel suit your risk level.

Trading is extremely difficult and I would not advise anybody starts trading unless they have first been able to turn a frequent profit investing. Start researching companies, understand how to read a balance sheet and so forth.

If I were to give one bit of advice above all else.

'Don't invest more than you can afford to lose'

Trading is effectively gambling unless you're very knowledgeable. If you do want to start trading individual shares, only put in money you don't mind losing. If you're looking for long term investment, have a look at stocks and shares ISA index funds (FTSE etc). I aim to put most of my cash in low fee funds that track markets, no-one can predict their future performance but over long periods you can usually expect to make reasonable returns.

Go with HL, do your research and don’t invest money you can’t lose or may need to access quickly. Also watch your shares at least daily

I would stay clear of trading in individual stocks. You only have to look at recent events with Gamestop to show how the stock market can be manipulated.

I only invest in funds, typically low cost trackers.

I agree with @nannynick and others, that there is a distinction between trading and investing, and that trading (which I understand as: buying in and out of stock regularly; using statistics and patterns of stock values to predict market movement and make gains (or losses!); 'leveraged' buying where you pay a small stake and stand to gain or lose multiples of your stake).

Investing in solid companies that you have researched and think will grow in size and value, and using a 'buy and hold' strategy is what the sensible pundits recommend. Diversifying your investments, either by buying funds that track the market or hold a range of stocks, means that you won't lose big if some stock values plummet. You should look to hold investments for at least 3 years or longer to even out ups and downs in value. Historical evidence shows that the stock market offers good returns over the long term (but of course, no guarantees of that).

I use the AJ Bell platform and find it straightforward to use. You can start by buying in to recommended funds, and then buy into stocks (once you've done your research on the companies of course!).

Look up some of the sayings of Warren Buffett, the so-called 'Sage of Omaha' for a lot of wisdom on the subject of value investing.

I’m thinking to start investing couple of hundred every month, looking long term 15+ years investment. Which platform would you recommend? I’ve heard of nutmeg so something similar, user friendly.

Trading fees can eat in gains if you are dealing in small amounts. If you are investing 50 a month then go for funds.

If you are talking larger sums then go for shares. Just so long as you have done your homework and don’t just rely upon newspaper share tips.

Some shares will give growth others are more solid dividend payers.

I have a couple of friends who now day trade in retirement it gives enough to pay for coffees, lunches and hairdresser appointments. But they do monitor their holdings throughout the day sometimes they get it wrong even with their experience

Open a Vanguard ISA and buy Lifestrategy 80. It's designed by experts to balance profit and risk and is "set and forget" fund. You can make ad hoc payments with no minimum.

I invest 99% of my money in low cost index funds with vanguard. I don't want to lose my money because it's my son's inheritance and I want it to grow.

I trade for a bit of fun in individual shares in companies I care about like Apple and want to feel some teeny tiny ownership of, and companies I think are on the up. I use Freetrade for that and the budget for it is capped at £1K. Like when I used to go to Vegas and used to set a budget for fun gambling (the house always won).

Good luck

With the greatest respect, anyone that comes onto a forum asking how to trade should not be trading.

Stick to low cost mult asset funds.

I'm with IG. I only put in what I could afford to lose, spread over about 5 different companies. The app is good- you can see what they are making or losing - it's great fun! I'm about £100 up on two of them but about 1/3 down on another.

Don’t know if anyones still looking at this thread! Hi, Yup, as mentioned investing great if you like low risk and 4/5% per year. Trading great if you like high risk /high leverage with potentially much higher returns. I trade on IG - good platform/graphs and FSA regulated. For investing, i agree with another poster who recommended Hargrieves Lansdown. I only trade these days - fits into my psychology better (I get bored quickly). I make v good returns these days, but expect high initial losses (i lost £20K in my first 6m trading, but thankfully broke even after my first year) so agree that don’t put in more than you can afford to lose and teach yourself with demo account. I’ve been trading about 3 years now.