ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330 
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Post by ilmoro on Jun 8, 2017 10:15:15 GMT
seems unfair to have a long general discussion about investing in shares on a thread titled - Why I am leaving Lendy. True, though given every other Lendy thread largely covers the same topic and same arguments ... falling rates, illiquid SM, poor comms, rubbish valuations, defaults etc ... a bit of variety makes a change ... and it includes a positive, success story amidst the gloom 
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Post by akihisafumihiro on Jun 8, 2017 10:24:10 GMT
I this tread the cause of the unstable secondary market? Is is scaremongering people?
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Post by peerlessperil on Jun 8, 2017 10:35:18 GMT
Just to correct something above stamp duty (or more accurately for electronic trades stamp duty reserve tax) does still exist. At 0.5% of the consideration. It must be factored into the 1% dealing fee if you aren't paying it separately. Of course there's an exemption for individual trades of less than £1,000. So if you're doing small trades there won't be any. True, but then dealing costs become proportionately higher. Good grief - talk about topic drift - can anyone move this to a different thread? I believe the £1000 exemption only applies to trades using a stock transfer form. If you trade electronically via CREST then SDT applies even sub-£1000? The way round stamp duty is to spread bet or trade CFDs. Just be aware that there are financing costs and they get you in the dealing spreads. Not for beginners, or even intermediates really (and beware anyone who advises you to use stop losses - ever wonder why the providers advertise them??). I have never encountered a wealthy day trader in equities I'm afraid (or at least one that stayed wealthy over a market cycle). The exception of course is those who are sitting somewhere where they can observe client flows and can use the excuse of "stocking up to meet anticipated client demand" as a cover for front-running!
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
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Post by skippyonspeed on Jun 8, 2017 11:02:08 GMT
Thanks for that info. I usually buy in chunks of £750-£1000 (eggs baskets etc.) as this is the most economcal batch size for me and also what I feel comfortable with. So I do not pay stamp duty on any trades and assumed incorrectly that it applied to all trades. You could avoid it by splitting a £5k investment into 5 batches, I assume. However, you may do better with a company who charges a flat rate on deals. Shouldnt you know what the fees are before you invest, basic due diligence research I wouild have thought, rather than assuming/guessing? AFAICS youve guessed/assumed wrongly twice now. You arent paying fees becuase I suspect you are investing in AIM stocks which are generally exempt, though Id watch out for any Irish domiciled stocks as you'll get a 1% nasty surprise. Cant fault your results. Not really brave enough to gamble on day trading myself. You are correct I only deal in AIM now, when I first started I only dealt in Footsie stock, but soon switched to AIM when the 0.5% Stamp Duty was charged on everything. I did buy an Irish stock once with the extra 1% SD, but only did it the once! My spreadsheet works out all my charges and I know my break even sell sp to 0.001p. As I said my ideal is to buy and sell in one trading session, if stock goes up enough that it is yielding 10% net during that time I sell, if there is a high volume being traded I might buy back depending whether the sp drifts back down and I think it could go up again during the session. What is scary is that some people say they have put ALL their money into 1 stock and say they will not sell until the sp has gone up ten fold!!! Whether those people are telling the truth, or just trying to ramp up the SP so they can dump I do not know, but is a bit dumb as far as I am concerned. Anything over 6% on several small deals a day with the cash safely back in my account is fine by me!
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
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Post by skippyonspeed on Jun 8, 2017 11:28:12 GMT
seems unfair to have a long general discussion about investing in shares on a thread titled - Why I am leaving Lendy. Yes I tend to agree with you, it started as a general statement about what I intend to do and just grew from there!!! People just do not know what to do with their cash 'cos L do not seem to worry that the people who have helped their business grow are concerned about the growing SM. I have huge stamp collection which I started as a child 'cos my dad was an avid collector. I might dig that out soon with a view to selling. I have in that collection every British stamp issued up to about '73, he used to spend quite a lot on his collection and a quick scan of ebay has shown me collectors are prepared to pay some high sums for the rarer ones plus packing and postage will be easy due to size of the commodity" Edit At this point I shall say no more as it seems to have upset a few people.......so, you can carry on with the doom & gloom  .......anyone seen my coat?
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kaya
Member of DD Central
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Post by kaya on Jun 8, 2017 12:57:48 GMT
I this tread the cause of the unstable secondary market? Is is scaremongering people? Nah, not to worry. All the crazies come on here      , but the majority of investors probably never even look at forums.
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Post by akihisafumihiro on Jun 8, 2017 14:20:11 GMT
Maybe Theresa May will make the secondary market strong and stable.
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Post by charliebrown on Jun 8, 2017 14:24:31 GMT
seems unfair to have a long general discussion about investing in shares on a thread titled - Why I am leaving Lendy. Yes I tend to agree with you, it started as a general statement about what I intend to do and just grew from there!!! People just do not know what to do with their cash 'cos L do not seem to worry that the people who have helped their business grow are concerned about the growing SM. I have huge stamp collection which I started as a child 'cos my dad was an avid collector. I might dig that out soon with a view to selling. I have in that collection every British stamp issued up to about '73, he used to spend quite a lot on his collection and a quick scan of ebay has shown me collectors are prepared to pay some high sums for the rarer ones plus packing and postage will be easy due to size of the commodity" Edit At this point I shall say no more as it seems to have upset a few people.......so, you can carry on with the doom & gloom .......anyone seen my coat? Would you need to pay postage to post a stamp? Couldn't you just stick it on the envelope and it would post itself.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
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Post by skippyonspeed on Jun 8, 2017 14:44:41 GMT
Maybe Theresa May will make the secondary market strong and stable. I don't think the election result will make much difference, like most markets, certainties are already factored in. It's shock results that mix things up!!
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warn
Member of DD Central
Curmudgeon
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Post by warn on Jun 9, 2017 7:11:06 GMT
I don't think the election result will make much difference, like most markets, certainties are already factored in. It's shock results that mix things up!! Good morning.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
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Post by skippyonspeed on Jun 9, 2017 7:20:51 GMT
I don't think the election result will make much difference, like most markets, certainties are already factored in. It's shock results that mix things up!! Good morning. Not for the country sadly........but good for me time to make some dosh!!!!
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lobster
Member of DD Central
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Post by lobster on Jun 9, 2017 7:44:15 GMT
Good morning. Not for the country sadly........ but good for me time to make some dosh!!!!Errrr - how ? 
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r00lish67
Member of DD Central
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Post by r00lish67 on Jun 9, 2017 7:53:00 GMT
Not for the country sadly........ but good for me time to make some dosh!!!!Errrr - how ? skippyonspeed is apparently a day-trader who actually makes money (see posts above).
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
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Post by skippyonspeed on Jun 9, 2017 8:09:20 GMT
Errrr - how ? skippyonspeed is apparently a day-trader who actually makes money (see posts above). Thanks for replying on my behalf, been busy
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Post by df on Jun 15, 2017 1:25:22 GMT
seems unfair to have a long general discussion about investing in shares on a thread titled - Why I am leaving Lendy. It should change to CAN'T LEAVE - IT"S TOO LATE 
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.......anyone seen my coat?
, but the majority of investors probably never even look at forums.
