If you where Mortgage free

[Deleted member 221031]

Learn how to do trading at the stock market. Most fail but you might be ok. It's a mental thing. YOu need to turn on your psycopath - or "emotionally detached mode" like surgeons need. It's much easier when you're only using winnings.
Most people, lets be honest, are thick as **** and twice as stupid.
I went from 20k in about July to 300k (pic of bank accounts posted) then, & on at a multiplying rate.
I'm using 80k of winnings now to trade with, shoving the excess in shares(etf's) at HSBC.
Today, stock (Natural Gas) price changed 3%.
Leveraged at 10x. (Gas is a commodity)
You multiply 80k by 3% x 10 to get the returns.
= £24k.
Some days a predicted stock will go 20%. Like oil/gas/bitcoin related stuff or some chip companies.
So that would be 80k x 20% x 5 = £80k. For gas/oil it would be 160k.
Then it can go back in the afternoon for the same again. My best days have been a few 100k. 650k I think.
You can do it avoiding tax if you want to, using a variant called Spread Betting.
Some days are too messy so I leave it. I'm not good at it so it has to be easy.
If I start off and lose more than about £5k I get ps$$ed off - then the brain won't be right for a while. Happens maybe once in 2/3 weeks.
Recently things have been "trending" which makes it easy. There's plenty of online help, every day.

I quite enjoy it but I've saved more than I'll need for the rest of my (+1) life.
This is not unusual - "everybody" is at it, it has become so easy.
Soon we'll all have AI driven trading bots in our phones and the finiancial world will collapse - I'm not joking. Nobody will work.
Amount of forex traded in a day; $12 trillion.
Trading floor by Liverpool St Station trades £11,000,000
per second, 24/7.


Quite lot of people look at this at the appropriate time, which is just before markets open , 8am or 2:30pm. Open a trade, set the stops, and leave it, and come back next day.

Since I started dibbling on't pc this evening/morning, I've been in Mongolian Mining, a HK stock I used before.
I mentioned it in the STock Market Trading thread. just before....

Here you go: "22 Feb" was midnight.
View attachment 333903
I got in a bit after I posted in that other thread, - it's up 10% since.

I started smaller until it was properly up so that's most of 80k x 10% x 5 , so about £38000. It's still rising. I'll set the automatic "outs" and toddle off to bed now. It might drop a couple % if it hits the stops immediately,, or carry on up another 10.. If it's still running when the market closes at 8am, it's a bit awkward , so I tell her indoors (her now in bed...) to hit the button to close it. I leave a post-it out for her to see. We call it the shoes note. Can she buy new shoes...? Clarks or Manolos?

Tomorrow, gas, Nvidia, SMC, AMD, Intel, ASML and ARM will get my attention, with crypto related stocks if it moves.

And with leverage like that the market call can come fast!

That’s not a game for amateurs at all. Fair play if you can do it, I watched it for a while and it’s not for me.

 

[Justin Passing]

10.8 % it came out at 5 something am, so, 10.8% x 80k x5 = wot I said plus a tad.

I read this, then my head hurt. I get some of it, but i know too little about it.

The shares I dealt with in the past never lost me anything yet gained me a little. I can see when you say that you enjoy, but that's easy when your winning.

I just don't understand it enough.

OK Bod - and @Mottie try this - open a a share dealing account. It's free and they have "paper" accounts so you practice in a simulator. They have forums - read a bit and you'll soon get the idea. You can also "follow" successful people, at, say, eToro.
Then you can start with one company and a tenner. I found eToro confusing at first, Trading212 is a bit more clear to my mind.
Funny how everything gets clear when you have a tenner on the line. There IS hard stuff, but KISS works.

And with leverage like that the market call can come fast!

That’s not a game for amateurs at all. Fair play if you can do it, I watched it for a while and it’s not for me.

You don't have to use leverage, unless you want to "short" (bet something willl fall in price). eToro is clearest for that bit, you can use leverage of 1x,2x,5x. or -1x,-2x,-5x.

Absolutely it's for amateurs. I went to Curry's to look at monitors and all the young sales people were trading Crypto (bitcon etc). Lad who cuts my hair trades UK -Turkish currency. Look at the graph long term and you'll see why. He was getting it a bit wrong and losing half his gains in fees because he was at the wrong broker - but once you're involved you find things like that out. I expect a free haircut next time . (AVAtrade fees long term are far less than Trading212).
You have to be unemotional so set rules and stick to them
Lots of students trade overnight. Take that Mongolian Miners. If it had gone wrong and you'd used 100 with nothing leveraged, you could have lost say 2. Go to bed. On the days when it goes right, you see it going right when you're up 2, so you wait until you're up 3 and you put in a stop which guarantees your minimum sell price leaves you at +2. Then you set the stops and go to bed. Or you wait for a bit more then increase your stake. Students have whatsapp groups etc.
Yes you can lose your shirt if you're clueless or emotional or arrogant etc. You have to have rules you stick to. You can prove they work or not in the simulator.


I'd had shares over the years, but recently, first lesson I learned: I put a few £k in, to try to beat building societies. Apple and Meta(Facebook). Meta was great, up a few % in no time. Apple fell. So I sold it. Then it started to go up again so I bought it - for more than I'd just sold it. It went up like 2% then down 3%. So I sold it. You don't want to lose money, you know! Then the penny dropped. Wait for it to fall to the bottom of the "channel" it's in, look at other shares, read the press. Then buy something else less media-sensitive, like General Electric.

Worst likely to happen is that you do nothing when action is needed. You can protect yourself with automatic sell orders, though.
If you were fik and were ex Britich Gas and did a HODL (Hold on for dear life) when Centrica shares got a downgrade last September and started going down, by now you'd be sad. If you'd sold when they got the downgrade you'd have lost 10-12% or so. Only a month or two's gains, so unless you'd just bought, no disaster. If you'd adopted the techniques I explained in the Dealing thread, you'd have got your money back by now.
If you buy say once a week over a period, you won't be as vulnerable to a drop - called Dollar Cost Averaging. DIversify if you think you need to.

 

[motorbiking]

it amazed me whilst speaking to several local authority workers about 8 years ago how many were not in the pension scheme after working there for at least 7 years one had been there 25 .
Asking me if i thought it was a good idea .
Right lads your all tradesmen on good money . So you pay 160 a month (so one saturday job) council pays at least 320 so your missing out on 480 going into your pot so 5760 a year that also grows . Some did join some didnt but few years back i think council made it compulsory

Not to mention that it is defined benefits, index linked guaranteed.

 

[motorbiking]

Anyway, back to the OP.

Paying your mortgage off doesn’t really mean anything since you need a place to live in.

So unless you are planning to downsize, leverage your home for a buy to let (don’t). You are left with investing the money that used to pay your mortgage.

Maybe a cash ISA each year or perhaps a mix of stock and cash in an ISA.

The other option is to increase your pension contributions, if it’s currently small and you are still working.

 

[SirGalahad]

Anyway, back to the OP.

Paying your mortgage off doesn’t really mean anything since you need a place to live in.

So unless you are planning to downsize, leverage your home for a buy to let (don’t). You are left with investing the money that used to pay your mortgage.

Maybe a cash ISA each year or perhaps a mix of stock and cash in an ISA.

The other option is to increase your pension contributions, if it’s currently small and you are still working.

Or buy properties abroad with the spare cash - always need a holiday home.

 

[Justin Passing]

Anyway, back to the OP.

OP is retired, mortgage free and has time on his hands.....

Or buy properties abroad with the spare cash - always need a holiday home.

Huge risk, no assured gain, very slow to get your money out.

If you're working , employer contributions are great, sure. But beware what they're doing with the funds. Some pension funds go backwards, especially as you get older. See the recent pensions thread. A properly managed pot should be growing at at least 10% p.a., plus your payments in.

 

[carmanmemoranda]

Anyway, back to the OP.

Paying your mortgage off doesn’t really mean anything since you need a place to live in.

So unless you are planning to downsize, leverage your home for a buy to let (don’t). You are left with investing the money that used to pay your mortgage.

Maybe a cash ISA each year or perhaps a mix of stock and cash in an ISA.

The other option is to increase your pension contributions, if it’s currently small and you are still working.

Or if preferred.

House is paid for. Start travelling, doing other things you want to do.

Life isn't just money.

 

[motorbiking]

Providing you.

1 understand the market
2 understand the local rules not all countries have guaranteed title
3 have local people to help look after your property

 

[gas112]

Or if preferred.

House is paid for. Start travelling, doing other things you want to do.

Life isn't just money.

now lets think how do you travel and do the majority of the things you want to do ?
oh yeah pay for it with money

 

[Deleted member 221031]

10.8 % it came out at 5 something am, so, 10.8% x 80k x5 = wot I said plus a tad.

OK Bod - and @Mottie try this - open a a share dealing account. It's free and they have "paper" accounts so you practice in a simulator. They have forums - read a bit and you'll soon get the idea. You can also "follow" successful people, at, say, eToro.
Then you can start with one company and a tenner. I found eToro confusing at first, Trading212 is a bit more clear to my mind.
Funny how everything gets clear when you have a tenner on the line. There IS hard stuff, but KISS works.


You don't have to use leverage, unless you want to "short" (bet something willl fall in price). eToro is clearest for that bit, you can use leverage of 1x,2x,5x. or -1x,-2x,-5x.

Absolutely it's for amateurs. I went to Curry's to look at monitors and all the young sales people were trading Crypto (bitcon etc). Lad who cuts my hair trades UK -Turkish currency. Look at the graph long term and you'll see why. He was getting it a bit wrong and losing half his gains in fees because he was at the wrong broker - but once you're involved you find things like that out. I expect a free haircut next time . (AVAtrade fees long term are far less than Trading212).
You have to be unemotional so set rules and stick to them
Lots of students trade overnight. Take that Mongolian Miners. If it had gone wrong and you'd used 100 with nothing leveraged, you could have lost say 2. Go to bed. On the days when it goes right, you see it going right when you're up 2, so you wait until you're up 3 and you put in a stop which guarantees your minimum sell price leaves you at +2. Then you set the stops and go to bed. Or you wait for a bit more then increase your stake. Students have whatsapp groups etc.
Yes you can lose your shirt if you're clueless or emotional or arrogant etc. You have to have rules you stick to. You can prove they work or not in the simulator.


I'd had shares over the years, but recently, first lesson I learned: I put a few £k in, to try to beat building societies. Apple and Meta(Facebook). Meta was great, up a few % in no time. Apple fell. So I sold it. Then it started to go up again so I bought it - for more than I'd just sold it. It went up like 2% then down 3%. So I sold it. You don't want to lose money, you know! Then the penny dropped. Wait for it to fall to the bottom of the "channel" it's in, look at other shares, read the press. Then buy something else less media-sensitive, like General Electric.

Worst likely to happen is that you do nothing when action is needed. You can protect yourself with automatic sell orders, though.
If you were fik and were ex Britich Gas and did a HODL (Hold on for dear life) when Centrica shares got a downgrade last September and started going down, by now you'd be sad. If you'd sold when they got the downgrade you'd have lost 10-12% or so. Only a month or two's gains, so unless you'd just bought, no disaster. If you'd adopted the techniques I explained in the Dealing thread, you'd have got your money back by now.
If you buy say once a week over a period, you won't be as vulnerable to a drop - called Dollar Cost Averaging. DIversify if you think you need to.

Maybe start a thread on it?

I’ve had serious interest in it previously.

 

[Deleted member 294929]

Maybe start a thread on it?

I’ve had serious interest in it previously.

That would be good.

 

[carmanmemoranda]

now lets think how do you travel and do the majority of the things you want to do ?
oh yeah pay for it with money

Which you are no longer paying out on the mortgage.

Rocket science, sorry

 

[diy_fun_uk]

Paying your mortgage off doesn’t really mean anything since you need a place to live in.

This. And I think we've discussed it in other threads.

I live alone, no partner, no kids. In a way it's ironic to think I'll have paid a mortgage for x decades and then yes, when I reach (in my case) around 60 years old, I'll have paid it off and the asset is 100% mine. Roof over my head until I peg it etc.

This is why I'll seriously consider equity release when I retire. If I can release e.g. up to 50% of the property value to spend in my dotage without risk of being turfed out then I'll do it. And pleeeease no lectures about the risks of equity release, I'm aware

 

[gas112]

Which you are no longer paying out on the mortgage.

Rocket science, sorry

and which your not still earning as you do those things jesus i can see you really dont have a thought pattern do you .
And dont forget peoples mortgages could be less than 100 quid . Wouldnt even get you to skeggie for a day

 

[carmanmemoranda]

This. And I think we've discussed it in other threads.

I live alone, no partner, no kids. In a way it's ironic to think I'll have paid a mortgage for x decades and then yes, when I reach (in my case) around 60 years old, I'll have paid it off and the asset is 100% mine. Roof over my head until I peg it etc.

This is why I'll seriously consider equity release when I retire. If I can release e.g. up to 50% of the property value to spend in my dotage without risk of being turfed out then I'll do it. And pleeeease no lectures about the risks of equity release, I'm aware

Sounds like a plan that suits you