Fantasy Trader - Help/Tips?

Question

Hi, I want to beat my friends at Yahoo Fantasy Trader UK. I like to day trade. I made a bit of money but I don't really know what I'm doing.

Can you give me some tips on being good at this game

and

What should I buy today?

Thanks!

Answer 1

buying gold will be resulted better intra day. if u think long then buying copper will be proved the best commodity.

thanks

Answer 2

As it's not real money tomorrow put it on

HBOS

BA.

VOD

BAY

TAN

If you can buy covered warrants

SM50

Tips. Get up early and read the news see what is happening in the business world.

(It was very lively session today. Its Friday tomorrow the FTSE100 may drop a bit but later pick up direction from the US which I suspect will be up. Its also near its support around  5550 so over the next few weeks it could well bounce back towards 5800-5900. If it closes below 5500 tomorrow it will probably head for the next support around 5400 maybe even lower.)

Recently the price of oil affects stocks

Oil goes up - share price of consumers of oil go down - airlines for example. Producers of oil (BP) go up.

Stay away from house builders at the moment.

Take 5 - 10% profit keep your stops tight below the buy price.

Don't worry about getting out too early. Making some money is not as good as making more money but its good enough and its much better than making a loss.

Don't buy before 9am sell before 4:30 (that's when it closes.)

Disclaimer: The price of shares can go up as well as down. You may not get back all the fantasy money you invest.