I want to long some European banks which i think are considerably undervalued e.g. Barclays.
My firm has a 30day hold period which I need to adhere too…
The easiest way to trade would be to buy say £5k of barclays shares through an online broker?
Which broker do you use or recommend for a newbie? It would be helpful if they had an app so i could monitor?
What about putting stop losses in or anything similar?
Any other tips to get me started?
Apologies for my ignorance and thanks for your help.
Your profile says you’re in the UK - if so you could do worse than try the brokerage arm of Saxo Bank; Saxo Capital Markets:
I’m based in London and that’s who I use for my share dealing. You can do either cash equities or CFDs on equities.
(They actually offer pretty much all asset classes/markets for trading)
For my share portfolio I’m more of a long term buy and hold kinda guy (commissions are a bitch!) so I don’t place any stops on my positions although you can place stops through the online platform.
Saxo Markets have a desktop based trading platform, and also have and Android and IOS app.
I’ve used a few brokerages over the years and I’ve setled on Saxo as they serve me pretty well.
They offer a free demo account if you want to just have a sneak peek around to check stuff out.
You could probably wait a bit and get a better price.
bold call at the moment I’d say
They’re 1 of few banks that hasn’t sorted themselves out properly post 08 and they’re paying for it now. No way they’ll go bust but it will be a hard road for their stock with more downside potential in the near term.
Just to echo that sentiment, Europe is coming back into investor focus and the banks will bare the brunt of that coupled with the impacts of very low rates. I’ve always found some patience would have gone a long way if I’d been willing to hold out for holy crap levels.
I will never be able to call the bottom, but i can see value so i’m willing to hold for 6-12months if necessary. I think shareprice should rise by at least 15% by then IMHO.
Exactly, you may not catch the bottom but it doesn’t mean you can’t wait to make sure most of the downside is shaken out. Europe’s coming back on the radar over here.
Everyone is so worried about not missing any upside, but the whole premise behind not catching a falling knife is to risk missing a few percent now to sort of feel for a bottom. Your call, but these concerns won’t be sorted out overnight and there’s plenty of bad juju overhanging that sector that still has yet to really play out.