Hi! I’m completely new to all of this - a few of my friends and I basically downloaded the app to see what we can all do with a £10 top up in a month. No more adding money or anything just a friendly wager. Give me your top tips to increase it as much as I can!
Welcome and good luck with the bet!
I know it’s just a small bet, but be careful of peoples advice… usually the ones people suggest on forums are the ponzi scheme shares that are about to crash when they run out of suckers to buy!
the best tip I can think of is for you to read a few books on the subject of investing
Search on this forum ‘John Thomas Investing Insights’ and scroll to the most recent comment to see which sector/stock is looking good in the current environment.
This is not at all advice in any way shape or form what-so-ever His insights are highly relevant which may give you a better idea for your friendly wager
(I wish you asked this same question in March 2020)
Investing shouldn’t be seen as a wager… You should consider investing for your long term future it will be much more fun aiming to be an isa millionaire than getting your £10 to £12.
If you’re investing with such small amounts and for short term, you probably want to be primarily using a UK ETF tracker with a low per-share price (e.g. ISF shares are £6.75 at the moment, but they’ve just gone up a lot in the last week, so expect them to come down) because then you can avoid FX fees (0.45% each way) and UK stamp duty (0.5% buying).
And then use up the remainder with US stocks because you can buy fractional shares to use up all the remainder (remember there’s a minimum £2 buy or sell, so make sure you have enough shares that even if they lose value you still have more than £2 so you can sell them).
But I agree with the others - if your bet is only short term, it’s hard to predict what to do and it’s close to gambling. If you’re all doing £10 a month and then comparing after a year, going for a tracker seems like a good strategy.
If you’re prepared to put in some more effort, you can look at some of the volatile US stocks, some of them have big swings within a day.
If you are looking for some ideas, check out the “Freetrade Baggers” list.
3 letters for you: GME