Taking Stock returns to nebusiness today

Jun 24 2009 By Andrew Mernin, The Journal

Are you ready to go back into the bear pit? Andrew Mernin previews the return of our hugely popular fantasy trading game, Taking Stock.

Top tips from the last winner of Taking Stock

HE WAS the White Van Man who raced away from the chasing pack to win the inaugural Taking Stock challenge.

And now John Bottomley, who runs the Bathroom Studio Birtley, has revealed the tactics he used to turn £100,000 into almost £1m.

1. First and foremost have fun – it’s not real money so you can afford take a risk.

2. Concentrate on a small number of companies.

3. Look for the latest news on those companies and their sectors.

4. Beware; good news is not always good news for the share price.

5. Think about why you are buying a particular stock and what you think it is capable of.

6. Always have an exit strategy in mind, for example, how much are you prepared to lose if it goes the wrong way.

7. Shares don’t go up in a straight line, so when you see a good profit, sell, with a bit of luck you may be able to buy back in at a lower price.

8. Don’t get too attached to a stock, if it’s going against you, get out.

9. You should take an interest in the Dow Jones Industrial Average.

10. And remember the markets are driven by fear and greed - you need to know when to be fearful and when to be greedy.