sales in the past4 months Eveready Jubilee Holdings KENOL TOTAL(my stake is much smaller) MUMIAS Comments Made a kill on Jubilee.I got in at sh.180 and sold at sh.300.Sold EVEREADY @SH.16.Sold TOTAL at a loss i.e. bought it @ sh.35-37 18 months ago.Sold at Sh34-32 . Mumias made a loss of sh4 per share on the sale. GOALS I'm still engaged in flipping i.e. i buy and sell shares as long as i can make 15-20% per trade after covering the transaction costs approx 4.2% when u buy and sell.These shares make up my sales.The shares in my Portfolio are LONG TERM i will hold them for at least 3 years.I'm adding more international holdings to the Portfolio(but i wont flip international shares-commissions and currency costs are too high). NOTE: To flip, you need a good broker, coz you can trade upto 3-5 times a week.Sometimes you buy and sell the same shares in 10 days. I can get a JSE(south africa) account.But one thing about JSE is that commissions r too high u have to deal at least Sh100,000 per transaction to make it worthwhile.JSE is more of an institutional market unlike the way NSE goes out of its way to make retail investors welcome.JSE assumes that retail guys should buy mutual funds and leave the market to the 'experts'.
US trading Accounts have better trading terms and conditions.You only need to sign a W8-BEN(IRS form indicating you ain't a tax resident in the USA) and a few requirements and you are in business
Problem I want to move to LSE (London Stock Exchange) but no one(online) seems to be able to accept an Account from Non-UK residents.They think you must be Pablo escobar or Osama bin Laden's Treasurer.How can a Third World resident have a share trading Account they ask? OR the money to trade?(they dont ask this question explicitly he..heh..).
Locally,Francis Drummond can introduce you to a broker registered on the LSE but you need a minimum of Ksh1,000,000.
Help wanted Anybody knows how Kenyan residents can trade cheaply(preferrably online) on the LSE holller,email or add a comment how.Because the only solution left is for me to get fingerprinted and go to London to physically open an Account.