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How to start trading in the UK 

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Trading is a method some people use as a side hustle, especially those who have been affected by the cost of living crisis, and as the market is easier than ever to access, almost anyone can do it. In fact, it’s now estimated that there are nearly a million active traders in the UK, with many of these based here in Wales. 

But, although trading is popular, the risks associated are high. As a result, it’s essential to fully educate yourself on the market and be aware of its unpredictability. With that in mind, here are the very basics of trading if you are looking to get started. 

What is trading?

Trading involves purchasing and selling financial goods, like stocks and shares, and using price fluctuations to seek profit. Traders will monitor volatility in financial markets, then attempt to buy low and sell high for financial gain. 

Types of trading 

There are an endless number of trading strategies you can use depending on your desired financial outcome, acceptance of risk, and investment of time. 

Day trading

Day trading involves capitalising on the rapid fluctuations in prices by purchasing assets then selling them within the same trading day. In the UK, this is Monday to Friday from 8:00 to 16:30. This method can be very effective but also highly risky, and advanced trading skills and larger funds are required. 

Position trading 

Position traders will buy assets based on a trend, and hold out until the trend has peaked, selling their asset when it’s most profitable. Position trading doesn’t involve as much skill or involvement as day trading and the short term risks are lower. However, you do need to deal with short-term fluctuations and have a good understanding of market cycles. 

Scalping

Scalping is a fast paced, short term strategy that involves trading numerous times a day – sometimes hundreds – and profiting off minor price fluctuations. This style of trading requires a lot of discipline, a larger investment of time, and expert knowledge of market liquidity as a large loss could undo all the hard work from previous trades. 

Swing trading

Swing trading is a short-to-medium term strategy that involves holding positions between a few days to several weeks, potentially even a few months. Swing traders base their trades on technical analysis, anticipating an asset’s next move then entering and exiting their position at the right time. 

After-hours trading 

After-hours trading, aka extended hours trading, involves trading outside of normal trading hours, either before the market opens (pre-market trading) or after it’s shut (after-hours trading). After-hours trading is often done for convenience or preference to trade with fewer market participants. It’s also common for traders to use extended hours to manage trades without waiting until the next day to prevent missing out on valuable price swings. 

Know the risks 

If you’re looking to start trading, it’s important to be aware of the substantial risks. Even the most experienced traders can face detrimental losses as the financial markets move quickly and erratically. Having full knowledge and a thorough understanding of the market is essential. 

Getting started: Opening an account

If you’re completely new to trading, it’s recommended that you start with a demo account. Demo accounts allow you to practise the art of trading with real market conditions (mimicked by brokers) but without real money. It’s a highly effective educational tool that offers you the chance to build the knowledge, skills, and tactics required to succeed without taking any risks. 

Trading can be a great investment, particularly for those with low pensions, but conducting thorough research is essential to ensure financial success. Consider which tactics will work best for you and open a demo account to practise without risk. Once you’re ready, you can open a real trading account and get started. 

Business

Call to end ‘fad’ of ‘school dogs’ in Pembrokeshire

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A CALL to end the ‘fad’ of permanent ‘school dogs’ in Pembrokeshire for their benefit and the befit of the schools, instead using visiting ‘therapy dogs’ is to be heard next week.

Pembrokeshire County Council’s Schools And Learning Overview And Scrutiny Committee meeting of November 28 will consider a public submission by Robert Thomas – who works with therapy dogs – on the subject of school dogs.

The submission reads: “My definition of a school dog is one that spends long periods in the school and is managed and owned by school employees not outside assessed and insured visiting therapy dogs who stay for an hour with a competent handler.

“The welfare of many dogs in schools in Pembrokeshire has been compromised over the last few years and we are concerned that the rise in the popularity of school-owned or teacher-owned dogs is an animal welfare issue.

“I can think of several school dogs in Pembrokeshire where it has gone wrong for the animal.”

He cites examples of ‘school dogs’ the county, where he says they have had to be removed, with the animals being unsettled, barking and even nipping on occasions, showing “a lack of understanding of animal welfare”.

His submission adds: “We have done some work with the Animal Welfare team at the Welsh Government around licensing this field, a consultation was completed in March 2023, currently awaiting the outcome.

“It has become a fad across the country and many dogs spend all day in schools supported by staff members who have another job to do. It feels like PCC does not have a policy overarching animal welfare policy in schools to protect dogs from being seen as staff members and there purely for human benefit, not the dogs.

“Dogs need to rest and sleep during the day and not in school. The visiting therapy dog model works best as the impact is greatest and the welfare of the dog is managed externally. If the dog is there all the time that can diminish the impact, and the novelty can wear off for the pupils.

“In my experience schools should concentrate on teaching and leave the therapy dog introduction to those that have the expertise in animal welfare.”

The submission will be considered by committee members at the November 28 meeting.

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Business

Specsavers relocates to landmark new store following £1.2 million investment

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HAVERFORDWEST will celebrate the opening of Wales’ largest Specsavers store on Monday 16 December 2024, following a transformative £1.2 million relocation to larger premises in the Riverside Shopping Centre.

The new state-of-the-art store, located at 21 Riverside Quay, promises cutting-edge facilities and enhanced services to meet growing community needs.

It will boast 14 test rooms, including two dedicated audiology suites, making it not only the largest Specsavers store in Wales, but one of the largest in the UK. Equipped with the latest technology, the premises will offer enhanced eye care, contact lens, and audiology services, easing the burden on local NHS services.

The store will also play a key role in education, supporting optometrists undertaking higher qualifications, such as Glaucoma and Independent Prescribing certificates, by providing hands-on opportunities to gain essential clinical experience.

‘This substantial investment reflects our commitment to delivering world-class eye and hearing care to Pembrokeshire,’ says Andy Britton, ophthalmic director at Specsavers Haverfordwest. ‘Our larger premises will allow us to meet growing demand, introduce advanced clinical services, and provide a dedicated training facility for optometrists pursuing higher qualifications.’

A recent YouGov survey, commissioned by Specsavers, revealed that 68% of Welsh adults wouldn’t think to visit an optician first for eye-related problems, and half (50%) would first contact another NHS service (GP, pharmacy, eye hospital, NHS 111 or A&E) if they woke up with eye issues, rather than their local opticians.

New Specsavers store under constructions (Image: Specsavers)

The survey also revealed that, of the 68% who would not visit an optician first if they woke up with an eye problem, more than a third (35%) didn’t know they could use an optician for these issues, while a quarter (25%) were concerned they’d have to pay for treatment.

Mr Britton explains: ‘We encourage anyone experiencing acute or chronic eye problems – such as sudden loss of vision, red or painful eyes, flashing lights, floaters, or headaches – to make their optometrist their first point of contact. Optometrists are equipped to manage a wide range of urgent eye issues, allowing patients to receive prompt care and avoid unnecessary trips to A&E or long waits for a GP appointment.

‘By offering quick access to eye health services, we can reduce the burden on the NHS in Wales and ensure people receive the help they need before their condition worsens.’

Andy Britton and Wayne Jones inspect progress of construction (Image: Specsavers)

The grand reopening event on 16 December will feature live entertainment from the Haverfordwest Male Voice Choir and notable attendees, including several local mayors and other dignitaries. The event will also celebrate Specsavers’ community-focused ethos, with a series of fundraising and awareness initiatives planned for 2025.

This new chapter follows the addition of Wayne Jones, retail director, to the Haverfordwest team earlier this year. With a remarkable career and commitment to innovation in optometry, Mr Jones brings invaluable leadership to the practice. His appointment, combined with the relocation, marks a transformative era for the store.

Deputy Leader of Pembrokeshire County Council, Cllr Paul Miller, praised the move: ‘Specsavers’ significant investment is a strong vote of confidence in the future of Haverfordwest. The new store is a key part of the town’s ongoing regeneration, drawing important footfall through the town centre.’

The new Specsavers Haverfordwest store will be open seven days a week, offering flexible appointment times to cater to the community’s needs. To book an appointment or learn more about the services available, visit www.specsavers.co.uk/stores/haverfordwest.

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Business

Ascona wins at the 2024 Allica Bank Vreat British Entrepreneur Awards

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PEMBROKESHIRE businessman Darren Briggs, founder of petrol station operator Ascona, has been named a winner of the prestigious Allica Bank Great British Entrepreneur Awards in the ‘Scale-Up Entrepreneur of the Year – Wales’ and the inaugural ‘Randal Foundation Entrepreneur of the Year – Wales’ categories.

Now in its 12th year, the Great British Entrepreneur Awards shine a spotlight on the individuals and businesses driving innovation, creating jobs, and shaping the future of the UK economy.

This year, the brand new ‘Randal Foundation Entrepreneur of the Year’ award celebrated entrepreneurs whose business embodied The Randal Foundation’s core mission – to save lives, improve life chances, and contribute positively to local communities.  

Ascona has been committed to supporting local communities since its inception, having established The Ascona Foundation in 2020. The success of the Group over the years has enabled Darren and the team to support many charities in the areas in which it operates, with the Company donating over £400,000 to local, national and community organisations since 2017.

Darren Briggs, Founder and Chief Executive Officer of Ascona Group, commented: “It is a great honour to be recognised for such prestigious awards at this year’s Great British Entrepreneur Awards.

“I am incredibly proud of Ascona and everything we have achieved over the years. This is another milestone for our business and the recognition is a testament to everyone’s hard work, commitment, and ‘Team Ascona’s’ ethos over the years.

“However, I am most proud of our charitable endeavors and the team’s commitment to giving back. It is something that is very close to my heart. We’re committed to supporting our various charity partnerships, including the Wales Air Ambulance this year, as we continue our extensive fundraising initiatives across the Group.”

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