Peter's Story
How did you pick investments before you used Stockopedia?
"Back in the late 60’s early 70’s there was no internet and one relied on newspaper tips (which today I wouldn’t entertain). I read or borrowed my father's copies of investing magazines, too. Those sources coupled with manually carrying out technical analysis was the starting point of my new hobby - becoming an investor / trader on the stock market."
Has using Stockopedia changed your approach to investing?
"Yes - by offering me more information when making that decision to buy or not to buy. The package is very similar to Sharescope and I run the two systems side by side. The best features I like about Stockopedia are the rankings, being able to compare companies on a like-for-like basis and compare chart performances against one another. Sharescope can’t do that!"
Peter uses Stockopedia help him make decisions on his investments
Has Stockopedia impacted your investment results or quality of life?
"Over the years (40+) I would like to think I have become a much more experienced investor and my results have improved over the years. Technology and Stockopedia in particular has helped contribute to that performance - both have contributed to a greater understanding of what works."
What's your advice for investors that are just starting out?
"I could write a book on this and have considered it - but something else always gets in the way! In the context and scope of this subject I will keep it brief and use bullet points. They are not in any particular level of importance, all the advice offered is all of equal importance.
- Ask yourself if you have spare capital that you can afford to lose.
- Are you going to be an investor or trader?
- Learn how to read and understand financial statements and in particular The Chairman’s report.
- Get to know and understand charts (technical analysis). The best way to do this is by paper trading and studying charts.
- What is driving you to get started out in the world of investing? Later on in life my reason was to create my own pension fund as I knew I could do better than the “so called” financial advisers who charge exorbitant fees.
- Patience is a great asset when dealing in equities, don’t chase prices.
- The three biggest issues that govern the path of a share price are fear, greed and the herd instinct. Don’t be a sheep!
- Don’t use a broker who offers advice, (unless it is free). As you progress with your new found interest in life you will gain in confidence and knowledge.
- Be prepared to learn by your misjudgements. You will lose money.
- There are some excellent books on investing, read them. Stockopedia offers a wide selection.
- Don’t act on bulletin board tips.
- If you see a tip in the press, magazine or other form of tip sheet, do your own research before acting. I always look at the chart of the share tip before thinking of buying it, as well as it's StockRank on Stockopedia."
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