# New to the game



## tugga (30 May 2008)

I'm a police officer and recently invested in solagran bought in at 1.20 they are now 40c haha bad timing.

What I wanna know is, is there any tafe courses that would assist me in trading?

or university courses?

thanks


----------



## hangseng (30 May 2008)

tugga said:


> I'm a police officer and recently invested in solagran bought in at 1.20 they are now 40c haha bad timing.
> 
> What I wanna know is, is there any tafe courses that would assist me in trading?
> 
> ...




Yes there is, but in my view NO and a complete waste of time and money unless you want to go into this professionally and work with banks or funds. 

Remember highly skilled and educated fund managers were recommending Centro and ABC learning just before they collapsed. ANZ was involved with Opes Prime and they are really well educated *shaking head in disbelief*.

Read all you can, learn both fundamental and technical (charts) analysis. Also plenty of resources here on ASF and the web. Learn how to read financial reports, I did a simple 1yr accounting course years ago for a business I was in and this has helped me greatly.

Your first lesson is no surprise to me, as the renewable energy sector has little govt support and rightly or wrongly has been trashed due to it. Second lesson look at the sectors that are favourable or due to be. Currently anything iron ore or phosphate, with uranium about to burst at the seams. I woudn't touch banks with a barge pole, but that is me and others will disagree I am sure. Welcome to the market 

Best advice I can give you is to sign up for the next ASX game. You trade real time with someone elses money  Who knows you may even win.

Also you can paper trade, that is trade without actually placing any funds and record your trading. This will help but it won't teach you the biggest lesson of all, how to manage your worst enemy being yourself.

Trading psychology i.e. knowing your own risk tolerance and emotions is 90% of what you ned to control. The rest can easily be learn't.

Go to the ASX website as they have loads of free resources and education information. Listen to the podcasts, learn market movements and why they move. The web is a free valuable resource, as is ASF.

Don't pay others thousands to attend courses and buy their software, unless you simply have loads of cash and want to. IMO of no benefit and the money is better invested in the market.

A great lesson I learnt is to not trade on what is in the papers or on the news, it has already happened. You need to research and find them before they move, or at least as they begin to move. Once they are running don't chase them, learn charting and you will learn when to enter these stocks.

Most of all have fun and never panic sell or over leverage. This is a world of enjoyment, disappointment, losses, gains, villains, heroes, risks and rewards all wrapped up in one. I absolutely love it and the dynamics involved, as you may have noticed


----------



## Miner (30 May 2008)

hangseng said:


> Yes there is, but in my view NO and a complete waste of time and money unless you want to go into this professionally and work with banks or funds.
> 
> Remember highly skilled and educated fund managers were recommending Centro and ABC learning just before they collapsed. ANZ was involved with Opes Prime and they are really well educated *shaking head in disbelief*.
> 
> ...




Dear Tugga 

First of all I am not competent to advise you,

However learning from others and my lessons learnt in real investment in a year,  if I may add what Hang Seng said  that the items covered by Hangseng to you  in less than one page will be covered by the glorious lecturers in TAFE over two sessions  So as he said it best to adopt to his suggestions and then of course build up your lessons through more readings. ASF has some educational books and consider buying them. They are not expensive at all and of good value. 

Good advise Hangseng and thanks for your note . It is refreshing


----------



## tugga (30 May 2008)

opes prime is involved with my company and as soon as public caught wind, the sp dropped like a lead balloon.

thanks for the advice hangseng

I will continue to read up and i hope it sinks in rather quick


----------



## hangseng (31 May 2008)

tugga said:


> opes prime is involved with my company and as soon as public caught wind, the sp dropped like a lead balloon.
> 
> thanks for the advice hangseng
> 
> I will continue to read up and i hope it sinks in rather quick




*Disclaimer:
The information provided previously and in this post is not intended nor does it constitute financial advice. I am not licensed to provide financial advice and as such you should seek professional financial advice prior to investing.*

Now I have that out of the way enjoy, good luck and most of all have fun and at all times:

*PRESERVE AND PROTECT YOUR CAPITAL AT ALL COSTS* You will then survive to invest again and learn from the experience. Better to take a loss than to lose your capital entirely

I spent years searching how to invest and paid for 'professional advice' which was a waste of my time and money, lost money to super funds 'left on hold' (due to bad financial decisions and serious illness) after I was told they would be safe untill I began contributing again only to find the funds chewed up by fees completely.

Then I had enough. 10 years ago the search began in earnest as I was stone cold broke, 40 yrs old with a young family and had my back against the wall. Welcome mindset change. I changed careers, have spent countless hours re-educating myself, reading, practising, paper trading, attending seminars, listening to podcasts and online videos. I now have over $2.5m in tangible assets, manage my own superannuation (with returns funds only dream of), invest in property and shares and I am an active part time trader.

Not for everyone but my journey has not only made me financially secure it has also made me a stronger and better person. I also learnt to share information, as a great friend once did with me to kick me off on the journey. 

Sharing knowledge and information is the greatest gift to anyone, only good flows from it. The Chinese have a term 'Chie tsuo' which loosely means to to learn from each other by exchanging views and to improve oneself through discussions with another. Learn to network  



*Some useful links to kick you off:*

http://vinvesting.com/buffett/docs/BuffettInterview_CNBC_20NOV06.html
http://www.investopedia.com/articles/01/071801.asp
http://stocks.about.com/od/1/u/Evalstocks.htm#s1
http://www.investorweb.com.au/schoo...3E-D19FA998750A&_c=&_dt=15/04/2007+4:57:41+PM
http://www.moneybags.com.au/default.asp?a=74
https://www.asx.com.au/asx/myasx/login.do
http://www.asx.com.au/resources/videos/index.htm
http://www.asx.com.au/resources/podcast/2008.htm
http://www.search.asic.gov.au/cgi-bin/gns030c
http://www.jorc.org/main.php
http://www.kitcometals.com/news/
http://www.stideas.com/Free Trading Tools.htm#Downloader
http://www.trader-soft.com/japanese-candlestick/index.html
http://au.finance.yahoo.com/intlindices
http://www.incrediblecharts.com/
http://www.marketwatch.com/
http://money.cnn.com/
http://www.bloomberg.com/
http://www.guppytraders.com/
http://www.afr.com/home/

My favourite trading read (I have read over 50 books on trading in the market):
36 Strategies Of The Chinese For Financial Traders by Daryl Guppy
http://www.moneybags.com.au/default.asp?d=0&t=1&id=5096&c=0&a=74

My favourite investors:
Warren Buffet and Ben Graham 
http://everythingwarrenbuffett.blogspot.com/2008/03/guru-focus-warren-buffetts-mentor.html
http://www.buffettsecrets.com/articles.htm

My single most successful stocks (both held for long term):
Gindalbie Metals (GBG)
Alliance Resources (AGS)

My speculative (near producer) stock pick for 2008/2009:
Peninsula Minerals (PEN)

My Favoured Blue Chips:
Wesfarmers (WES)
Woolworths (WOW)
BHP Billiton (BHP)

My biggest mistakes:
View Resources (VRE)
Brierty Limited (BYL)

Stocks I am avoiding for now:
Banks
Solar/wind power and biofuels (until they gain govt support they are going nowhere fast)

Sectors I believe will perform well:
Resources to continue especially Iron ore, LNG, Oil, gold, silver
Base metals will suffer short term but long term the outlook is good, Zinc in particular has copped a battering lately.
Anything supplying food or contributing to food production such as fertiliser stocks, Beef cattle, grains etc.
*Did you know *that India's Prime Minister recently stated "the biggest challenge faced is to feed the people of India". Most Indian and Chinese people used to only eat one meal a day, they now eat two (do your maths).

Energy of the future and next sector to run IMO:
Uranium - see my speculative stock pick 

Oh and I don't sleep much so I had plenty of time to put this info together


----------



## Sean K (31 May 2008)

You could do a Diploma of Finance Services and it's variations for some formal education. I did about half of the course before I relocated to Peru. It's mostly just theory, of course, and concentrates more of fundamentals, but it's a great source of general education of the financial systems. 

Your real education is from getting into the market, learning by trial and error, reading every financial paper and magazine you can, following YTs picks  lol, and finding an investment/trading profile that suits you. Some people are fundamental investors, some technical traders, and some a blend. I prefer being blended myself.

ASF is a great sourse of information too of course , although tends to lean towards the technical side for some reason. 

Good luck!
kennas


----------



## tugga (1 June 2008)

Thank you very much hangseng

let the reading begin

so kennas what your saying is copy young traders suggestions hahaha


----------



## prawn_86 (1 June 2008)

Well done Hangseng, great info there.

Tugga, i would add that it really depends on what your goals are. If your looking at longer term investing and not actively trading, then something like the DFS Kennas suggsted could be useful. Or even a cert III in accounting or something just to learn how to read the books etc, but again it depends on your level of financial competency and how quickly/well you pick up numbers.

If your looking at actively trading its a whole different ball game, and there are many members way more qualified than me to talk about that.

As Hangseng said, the ASX share game is a great starting point. Its where i first started also. 

My golden rule for those starting out in the markets is *DONT PUT IN WHAT YOU CANT AFFORD TO LOSE.*

Obviously this changes as you get more experience. I would also say if your starting out to look at the larger top 200 companies. The massive gains and 'gambling' appeal may not be there, but it is a good place to cut your teeth with "solid" companies.


----------



## tugga (1 June 2008)

I learnt that the hard way and majorly over bought on my last trade and it backfired big time. Now I just gotta wait it out I guess.

My first trade went a charm, a nice 90% gain on 20k

Then i sunk all that plus more borrowed money into my last venture, which hasn't gone to plan as well as I hoped.


----------



## Julia (1 June 2008)

Hang Seng,  great story.  Good for you in turning everything around.
That takes determination and courage.


----------



## hangseng (1 June 2008)

Julia said:


> Hang Seng,  great story.  Good for you in turning everything around.
> That takes determination and courage.




I appreciate the kind words Julia. I will share a few moments of it if I may.

Yes it has been one hell of a journey and I wouldn't wish it on anyone. However should it happen then you definately must have an undying resolve to succeed and be prepared to sacrifice significantly. If you do the rewards are worth every tear and heartbreaking moment.

The only left over aspect with me now is that I don't sleep very much. All those years I worked away doing 12hr days, 7 days a week, on 6/1 rosters and studying by distance education for 4 years. Many a late night studying and early morning starts. Now I wake up at 4am regardless of what time I go to bed.

The greatest reward for me though was attending my daughters graduation from Uni. She told me my resolve showed her that anything can be achieved once you set your mind to it. This lovely person always wanted to be a Veterinary Surgeon and was told at high school she should forget about going to uni, this broke her heart (she was failing as she was worried about me). We had a little heart to heart and she not only went on to Uni and became a Vet, she passed high school with several distinctions, went on to achieve honours in Veterinary Science and Veterinary Surgery and was granted an internship in the US.

Never ever give up, no matter what it is you do or desire to do in life. Never do harm to anyone on the journey and offer others all the help you can. The life rewards outweigh any monetary aspect by a country mile.

The journey continues.


----------



## MRC & Co (1 June 2008)

Fantastic posts hangseng.


----------



## uahmad (6 June 2008)

Wow,

Im VERY new to the game and reading your post Hang sent shivers down my spine!

Congrats! and thanks for the insight!


----------



## Timmy (6 June 2008)

Just saw this thread for the first time - great stuff HangSeng, really great.

Tugga - thanks for starting the thread.


----------



## ThingyMajiggy (6 June 2008)

Great posts hangseng!


----------



## disarray (6 June 2008)

mods can you sticky this for a while? some quality info there and a good place to start.


----------



## professor_frink (6 June 2008)

disarray said:


> mods can you sticky this for a while? some quality info there and a good place to start.




good idea disarray. Done


----------



## hangseng (7 June 2008)

professor_frink said:


> good idea disarray. Done




I am humbled, my first involvement in a sticky 

Thank for all of the kind words.


----------



## rob (3 July 2008)

:hello there. i have been doing alot of research and have bought a few shares. would someone tell me roughly how i do a market cap on a company rather than relying on someone to post it as i would like to be able to make some kind of comitment to the threads to. thnks for helping


----------



## Pommiegranite (3 July 2008)

rob said:


> :hello there. i have been doing alot of research and have bought a few shares. would someone tell me roughly how i do a market cap on a company rather than relying on someone to post it as i would like to be able to make some kind of comitment to the threads to. thnks for helping




Take the latest Appendix 3b from the announcement. Add up all of the holdings (including options with the excercise price) for the fully diluted share registry. Multiply this by the current share price. This gives you the fully diluted market cap. 

One thing to note though is that sometimes options aren't excercised, so the fully diluted market cap is sometimes never exact, but is thereabouts.

Someone can perhaps explain this in a better english than me. I'm only a Pommie afterall!!


----------



## Pommiegranite (3 July 2008)

To all newbies, I would also like to say to be *very careful* about following advice/research. I have noted that some post great research about an undervalued stock. However, those people will have already bought the stock *before* posting their research and will only be selling into strength. Infact you will probably be buying while they are selling.

If you have any doubts about anyone, do a search on their name and see how many 'undervalued 'stocks they posted research on, and when they posted it. Only then can you note their successes and failures. Then ask yourself why they haven't posted on that stock since, even though the company's fundamentals haven't changed for the worse (and in some cases have improved).

In my eyes, this is nothing short of a Ponzi scam. 

*Trust nobody...even those who may appear genuine.*

Other than that, happy trading!

Disclaimer: I refer to nobody in particular


----------



## Eddyl (7 July 2008)

Pommiegranite said:


> To all newbies, I would also like to say to be *very careful* about following advice/research.





I second Pommie here. You wouldn't want to be niave enough to put all your capital into one share, simply because someone else was silly enough to do this. Diversification is the key to all balanced portfolios.


----------



## zolow (7 July 2008)

I'm also very new to the game.

I found Benjamin Grahams, "the Intelligent Investor" gave me a better understanding for investing in general.


----------



## CFDstarter (14 July 2008)

Hello 

Im a newbie here. and i  am interested in CFDs, is there another thread that i should be in?? 

I was wanting some help in charting, and techniques. I need to develop a trading plan, but dont know where to start.

I have been trying to read alot and watch alot of podcasts, books and mags of all sorts. But i still feel that im not ready for the big bad market yet. 

Please help


----------



## jimmyjohn (19 August 2008)

*Newbie*

Hi, have just located this site.  Have not started trading as yet.  Still researching and learning.  So confusing on where to start.  *Which book to read first? * I only want to paper trade initially and then trade on a small scale.  *I do not want to pay an exorbitant price for a software program but I do need one for charting, back testing etc.  I understand I should be looking for a 'toolbox' and not a 'black box' (ie something I can modify).*
Can someone please point me in the right direction.
I have looked at Pro Trader.  It would be preferable to use something that I can readily obtain assistance for and ideally attend a user group.  I live in Queensland, on the Sunshine Coast (and yes it has been unusually cold this winter!!!, but coming from Canberra, I would not dare complain!).
I did do a search on other threads but could not find something which actually educates me on where to start.  I am keen to get going!!!!!!!


----------



## johenmo (20 August 2008)

*Re: Newbie*



jimmyjohn said:


> *Which book to read first? * I only want to paper trade initially and then trade on a small scale.




Books - search the threads via advanced search.  Everyone has different opinions.  A couple of the more popular seem to be "Adaptive Analysis" by Nick Radge, and "trade your way to financial freedom" by Van K Tharp.  Am getting first book, have read the second.  Books by Darryl Guppy are often mentioned.

There is a thread under "adaptive Analysis" - this will show you level of interest.

Have a look at the Shop here - the books are separated into different levels, and the prices appear competitive.

If you can think of a question, it's probably been asked and a thread exists.


----------



## jimmyjohn (27 August 2008)

johenmo, many thanks.  Since entering my query, I did locate some helpful info on this forum.  Have ordered some books, including the ones you mentioned.  So will take time to read up.  jimmyjohn


----------



## johenmo (27 August 2008)

jimmyjohn - not a problem.  I am very new to this but have watched others from the sidelines for years make quite a few dollars.  So I know it's within reach!

Have just read "way of the turtle" which I found very interesting for psychological comments.  It's more for trend following but is easy reading.  I am going through "Trading on the Autralian Stockmarket - A Beginner's Guide" by Clifton Thornton.  I'd recommend this for anyone who is contemplating trading.

I'm not trading just learning the jargon and what it's all about.  With the market as it is I think I have a bit of time on my side.  Was planning on being an "investor" with a lean towards FA but my second foray wasn't as succesful as the first - BNB was one of them.  Been a good learning curve.  I expect to buy something like Amibroker or Tradesim once I develop strategies for diffferent conditions and then systems.


----------



## dotocom (29 August 2008)

What do you think about the idea of trading a nominal amount/demo account from scratch and then playing around with it and try to develop your own style to see what works and what don't. Are those books you've recommended based on long-term holdings? are there any good books on intra-day?


----------



## johenmo (29 August 2008)

dotocom said:


> What do you think about the idea of trading a nominal amount/demo account from scratch and then playing around with it and try to develop your own style to see what works and what don't.




I'm new and the concept of "investing" seemed appropriate for me.  So I have bought some but they have dropped - I can now see that one was fine but too early, and the others.  I now know more and won't buy anything until I have developed a proper strategy and sytem.  So I plan to develop several, and then back test on limited stocks, and then buy something (leaning towards Amibroker) and paper trade forward.  Each one will be a separate paper "account".  I plan to follow it to the letter (with as little emotion as possible) to try to reduce any of my biases.  Will also back test using different periods (up, down and sideways trends).

1I tend to be more interested in trending and breakouts but will have to try several strategies adn learn a bit more TA.  Also need to wrap my head around shorting!

Having said that my 12 year old showed interest and selected HVN, CCL and JBH because he knew them.  Since then they are up 17-20% region.  No method.  He chose his 2 months after I bought.



dotocom said:


> Are those books you've recommended based on long-term holdings? are there any good books on intra-day?




Nothing on intra-day.  The "Way of the Turtle" is a trend book - I read it because I'd heard of them.  Van Tharp is the first to open my eyes to the psychology side.  I have read a few by Kinsky and Hull - they are longer-term concepts.  The Thornton book explains TA in my style.  Have glanced thru a couple of others but they aren't easy reads.


----------



## beamstas (3 September 2008)

Hello, 
After lurking for a while on these forums i have decided to sign up. 

I am new to trading, im a 19 y/o uni student with a small amount of starting capital ($2200), and im adding to that every couple of weeks. I'm not looking for high income right now, i know i won't get it off such a small starting point. I'm really looking to grow my money over time. 

_What should i look for when trying to find a company that will have good growth over the next 5 - 10 years?_ I'm not looking for someone to say "BUY THIS", but just some advise would be very welcome. 

Im guilty of already putting most of my eggs into one basket.. ($1900 into one particular company).. but so far it has done quite ok. (Not sure if i should say what one here?)

Anyway, what should i look for? What will indicate good growth in the long term. (Please don't suggest high risk mining companies, i don't wanna blow all my money straight away!) 

If you have any specific one that you think i should look at, please p.m it to me!
Thanks


----------



## Timmy (3 September 2008)

Welcome aboard!  Yeah, unable to get specific advice here on what companies to buy etc., to provide such advice would require a licensed adviser, so such a thing is a no-no on a public forum like ASF.  

What you WILL find though, is heaps of info on how to go about the process of sifting through info and finding some good companies yourself, & it should be an enjoyable exercise, lots of great people here.  Check out the beginners forum and the popular threads (usually indicates something is going on) on individual stocks.  And ask questions!


----------



## beamstas (3 September 2008)

Timmy said:


> Welcome aboard!  Yeah, unable to get specific advice here on what companies to buy etc., to provide such advice would require a licensed adviser, so such a thing is a no-no on a public forum like ASF.




Ahh, thought so. 
But any advice on what to look for in a company is very much welcomed.
Thankyou timmy!


----------



## Dowdy (3 September 2008)

Wait til the market crashes, then buy precious metal stocks.

If you dont believe it will crash, then get agriculture and alternative energy stocks. I reckon those will do great in the long run.

Although dont take my advice as an expert. I'm only 23 and i do my research on youtube, watching clips of Peter Schiff, Max Keiser, Jim Rodgers, David Walker etc. You can look up those names on youtube yourself to see if you agree with them


----------



## johenmo (4 September 2008)

beamstas said:


> _What should i look for when trying to find a company that will have good growth over the next 5 - 10 years?_ I'm not looking for someone to say "BUY THIS", but just some advise would be very welcome.
> Thanks




Look at https://www.aussiestockforums.com/forums/showthread.php?t=12230 for "value".  Being new, so far I've figured out it all depends on what your aim is - then you can work out your strategy n system(s), n then you can look for the stock(s) that suit.  My newest/biggest learning is research who's running it - directors, top Mgt - I wouldn't have bought one stock if I'd done that!!

With things as they are at the moment, the intent of most posts is that it's hard to do what you want.  If it's based on (forward) earnings then that can change as commodities/market(s) etc change.  So no easy answer.

Read a few books - active investing by Alan Hull is one that has the "invest" long term approach.  Gives one approach.


----------



## edhouse (15 September 2008)

*help getting started*

hi guys

im 17 and an apprentice plumber.
ive been looking into the stock market for a while now
mainly just reading all that i can about how the market works.

i am a patient person, but i think i would rather be engadging in trades that are intra-day or for no more than a few days.

i have a small capital atm of about 1500, but its growing weekly.

i have been reading alot about options and fx

they seem fairly apealing for me as of the short trades.

what would you guys recommend for me to do at this stage?

also could someone please explain the leverage with forex and how it work with wins/losses?
ie, 1:200

also i have come across a number of companys that offer "pro trade calls"

such as eminis global.

what can you tell me about these companys?


thanks


----------



## edhouse (15 September 2008)

also, what about using asr for trade calls ect?


----------



## johenmo (15 September 2008)

Read the thread "Newbie with a grand".  Lots of suggestions (not allowed to give advice) based on experienc and opinions.  It's in the beginner's lounge.

https://www.aussiestockforums.com/forums/showthread.php?t=12377&highlight=newbie+grand


----------



## ROE (15 September 2008)

rob said:


> :hello there. i have been doing alot of research and have bought a few shares. would someone tell me roughly how i do a market cap on a company rather than relying on someone to post it as i would like to be able to make some kind of comitment to the threads to. thnks for helping




market cap 

price multiply number of outstanding shares


----------



## ROE (15 September 2008)

hangseng said:


> I appreciate the kind words Julia. I will share a few moments of it if I may.
> 
> Yes it has been one hell of a journey and I wouldn't wish it on anyone. However should it happen then you definately must have an undying resolve to succeed and be prepared to sacrifice significantly. If you do the rewards are worth every tear and heartbreaking moment.
> 
> ...




Good stuff mate, you done well, hope you get another 2.5 Mil in the next bull run


----------



## ROE (15 September 2008)

*Re: help getting started*



edhouse said:


> hi guys
> 
> im 17 and an apprentice plumber.
> ive been looking into the stock market for a while now
> ...




I dont think you should messed with options and forex starting out, sound simple and lot of people promoting it but without deep understanding of the market and currency movement you be gambling with your money.

you are young so one thing you have other doesn't is time..and with time on your side you should be looking at compounding, ie save and invest in proven track record company, you wont get rich quick but your capital is preserve and 30 years from now you have a nice nest eggs which you can use some of that to play your option and forex


----------



## edhouse (18 September 2008)

ok thank you for your input
what about trading the main indexs?
i have heard about that but im not sure what its called?
would that be a safer option?


----------



## deadset (18 September 2008)

In advisor's defence, its hard to put timelines on advice without having to then babysit the person you gave advice to.  

It's best to work out how the different indices and all types of market data affect the stocks.  On a simply level, the oil price will affect oil stocks for instance.  But if it moves too much, it affects alot of things.

Now if you could find an advisor that was consistently wrong, that'd be useful.

Certainly putting money into the market will force you to learn things quicker than if you you didn't, but you'll probably lose money learning.

The plan is ok, just not the right time right now, we have to wait for this financial crisis to unwind first.


----------



## edhouse (19 September 2008)

yeah i understand where you are coming from .

i have a trial account on ig markets"
and have been mainly trading the main indexs.
up and down,

in the last 24hrs i have made 150,000
taking my balance to 250,000

i just traded the russel 2000, euro 50 and aussie200.

did i just buy at the right time?


----------



## Wysiwyg (19 September 2008)

edhouse said:


> yeah i understand where you are coming from .
> 
> i have a trial account on ig markets"
> and have been mainly trading the main indexs.
> ...




Reality is but a real dollar away.


----------



## edhouse (22 September 2008)

ok ,
ive been reading alot about puretick
i have seen thier previous day results page,(very impressive)

lets just say one of thier trades ends up being,,, (+$318)

how much capital have they outlayed for that one trade?

eg , 1000usd worth of contracts, after the successfull trade, sell and have $1318 ?

thanks


----------



## Trembling Hand (22 September 2008)

edhouse said:


> ok ,
> ive been reading alot about puretick
> i have seen thier previous day results page,(very impressive)
> 
> ...




ED learn to drive a car safely before you go racing a Ferrari.

You are completely on the wrong track. IMHO


----------



## edhouse (22 September 2008)

ok,
can u atleast give me some information on how it works .
or where to find info.?


----------



## kam75 (13 October 2008)

tugga said:


> I'm a police officer and recently invested in solagran bought in at 1.20 they are now 40c haha bad timing.
> 
> What I wanna know is, is there any tafe courses that would assist me in trading?
> 
> ...




There are none that can help you, to any extend.  This is because making money trading is not something that can be taught.  Someone may teach you how to trade but, knowing how to trade, and making money trading are two, very distant relatives.  To trade profitably, you, yourself, will have to find your own edge.  This takes time and practice.  

My advice for anyone starting out is, before you start out, read a few books by reputable authors.  Forget about courses. They're a waste of time, and money.  Thats how self-proclaimed gurus, marketing sharks and other charlatans make their money. At their scam-inars, they will try to confuse you so you have to use them and buy their courses.

Instead Read and Study the following books!!

1. Reminiscences of a Stock Oparator - by Edwin Le Fevre.
2. Secrets for Profiting in Bull and Bear Markets - Stan Weinstein
3. How I made 2m in the Stockmarket - Nicolas Darvas

In these books, you will find information that may just be the thing to help you mould your own edge to trade profitably.


----------



## Rockhoundnz (24 October 2008)

edhouse said:


> ok ,
> ive been reading alot about puretick
> i have seen thier previous day results page,(very impressive)
> 
> ...




Edhouse, Puretick are excellent at teaching people to trade eminis (futures for Trembling Hand   ), but if you are an absolute beginner I would start with something else for a while until you have a better feel for the market, and know a little about technical analysis. It will speed your learning up no end.


----------



## KKP (30 October 2008)

*Hi All*

I am new the investment. I am glad i found this website.
Hope to share information with you all and learn few things here.

Happy Investing


----------



## Reealjrd (30 October 2008)

*Re: Hi All*



KKP said:


> I am new the investment. I am glad i found this website.
> Hope to share information with you all and learn few things here.
> 
> Happy Investing




Hello KKP,

Yes you have come to the best forum. Here you will get the replays of all your quarries regarding trading. And all the informations you require regarding trading.


----------



## Reealjrd (4 November 2008)

If new to the game contactsome nice forex brokers. As i haave done. I had started forex trading in the year 2004. That time i had searched for forex brokers and that to some nice forex brokers. I found some forex broker very nice . I used their demo account to practice trading and understand trading strategies. 

But for a real account i opted AVAFX. Now again in stepping the field of trading and searching for the same broker. I have come to know that this broker has been updated.


----------



## adnil (10 November 2008)

*Hi all I am a newbie to the Stock Market*

I was just wondering if anyone has heard of the ASI CLub and if so are they legit and can they do what they say they can.  I am interested in CFD's but not confident enough to go it alone at the moment.


----------



## strudy (11 November 2008)

There are some great answers already posted.

The things I would do if I was to start over again would be these basics :-

*1.Paper trade* (practice) before entering into the market place.

I jumped in and quickly lost half of my investment in only a few days of trading.

*2. Do your OWN research*

I used other peoples with again disastrous consequences.

*3. Visit trading Forums such as "Aussiestockforums" daily*.There is a wealth of information to be found.

*4.Work to a preset plan and don't deviate from it.*

*5. Most importantly learn about yourself and learn to control your emotions.*

This I found the hardest thing to do and I still forget occasionally.

Hope this helps


----------



## strudy (11 November 2008)

*Re: Hi All I am  a Newbie TO the Stock Market*

Australian Stock Investment Club are ok. They are Free to join and they  will help you improve your trading skills.

There are a lot of good sites around with much the same information.

It is amazing what you can find using good old Google and a spare 30 minutes.


----------



## Nick Radge (11 November 2008)

*Re: Hi All I am  a Newbie TO the Stock Market*



> Australian Stock Investment Club are ok. They are Free to join and they will help you improve your trading skills.




They are $3990 pa.


----------



## ASXNoob (19 November 2008)

*Same Old Question*

Hey everyone, just joined up 2 minutes ago. I have never invested in stocks before but i want to start. So my question is where to start, what are the first few steps i should take? Buy a book? Research on the net?

I've just had a quick look at a few threads and found lots of advice of staying out at the moment cause its high risk especially if your new. 

I thought it'd be an good oppurtunity to get in now with an ETF (also read negative comments here which i'd expect from a investors forum) since we've hit a 4 year low with an almost 50% drop? Surely the only way is up?

Keep in mind im a complete noob so what i just wrote is probably wrong and doesnt have much substance behind it. Please point me in the right direction :

Btw, theres probably hundreds of these thread, please tell me and close this if thats the case.


----------



## Joe Blow (19 November 2008)

*Re: Same Old Question*



ASXNoob said:


> Hey everyone, just joined up 2 minutes ago. I have never invested in stocks before but i want to start. So my question is where to start, what are the first few steps i should take? Buy a book? Research on the net?
> 
> I've just had a quick look at a few threads and found lots of advice of staying out at the moment cause its high risk especially if your new.
> 
> ...




Hi ASXNoob,

Welcome to ASF! 

I have merged your thread with our 'New to the game' thread that we have for new members.

Firstly, be sure to read our Code of Conduct and Posting Guidelines to get an idea of how things work here at ASF.

You then might want to start working your way through the threads in the 'Beginners Lounge' forum. Lots of threads in there started by other complete newcomers to the market about finding out where to begin to learn about the market and investing/trading.

All the best on your journey!


----------



## Hussla (21 November 2008)

*Beginner - Not sure where to turn*

Hi there, ive been lurking in here for a while.

Currently I have about 5-10k to play with, some money left over after selling a property. 

So far my foray into the share market has been premature and rather unsuccessful in the short term, but it's been interesting so far. 

Although working full time i'm setting a goal that I wish to be able to trade shares with an initial aim of being able to earn about $100pw trading share, through learning, experience, practice and patience. 

I guess is my above goal unrealistic or not, if not then I want to find the best resources to help me reach that goal, once I can reach that I want to then set the bar higher. 

I've been experimenting a bit with paper trading with bluechip stocks which has been interesting. 

I'm both interested in technical and fundamental analysis techniques as I feel based on my university studies both methods have their advantages and uses.

Software wise i'm already setup with  metastock and amibroker.  

Really would like to know where is the best place to start for no B.S info and guidance and for me to just forget what i've learnt and start like a total amateur.


----------



## mazzatelli1000 (21 November 2008)

*Re: Beginner - Not sure where to turn*



Hussla said:


> Hi there, ive been lurking in here for a while.
> 
> Currently I have about 5-10k to play with, some money left over after selling a property.
> 
> ...




Hussla, 
This question has been answered and contributed so many times with lots of great information, I suggest you check out the Beginner Threads and do some searches. 

Education and Knowledge will be the first step - University studies is not enough 

Practice, test, find out what works for you - technical vs. fundamentals all are valid - depends on the eye of the beholder

Then finally jump in small etc 

I wish you the best of luck


----------



## vine (29 November 2008)

I'm looking for a chart that was posted about 6 months ago by one of the experienced posters. It was a chart that showed the relationship between the share price movement and the different development stages of a mining company as it moved from explorer to producer. I've spent a bit of time looking but can't seem to find it, does it jog anyones memory. Thanks!


----------



## hypaflation (4 December 2008)

What about learning from HomeTrader or doing Chris Tate or Louise Bedford courses.

I to am new so far have been reading alot of books about candlestick charting etc and how to trade.  psychology would be the most important factor.  Don't get greedy and take a profit if you can.

If you make $200 in 30mins work for a day that is good!  :


----------



## hypaflation (5 December 2008)

Could anyone recommend Hometrader as a place to begin learning how to trade and setting up as a part time business.

Also would you set up a Trading Trust if you were trading shares for income or would you set up a normal trust and have your Hold shares in there also.

What are your thoughts on this?


----------



## mazzatelli1000 (5 December 2008)

hypaflation said:


> I to am new so far have been reading alot of books about candlestick charting etc and how to trade.  psychology would be the most important factor.  Don't get greedy and take a profit if you can.
> 
> If you make $200 in 30mins work for a day that is good!  :




Yeah mate, 

Its that easy - in fact I make $200 in 30 secs * sarcastic* 

BUT there is the rare breed that probably does that ----*cough* TH 



hypaflation said:


> Could anyone recommend Hometrader as a place to begin learning how to trade and setting up as a part time business.
> 
> What are your thoughts on this?




Read books and then paper trade and back test 
before committing small amounts

You need a solid understanding of the market and the instrument you are going to trade

Hometrader - I can't comment as I have never used it - but usually spruikers material does not really help

I am in no way affiliated to Nick Radge, but if I were a complete noob again I would have subscribed to his service and education - check it out.

Plus there are lots of knowledgeable traders on this forum - so work hard and trawl through the threads

Kind of annoying me that I keep having to rehash the same answer when it is only a few posts up


----------



## Sharkey88 (29 December 2008)

Hello Tugga. 

I'm new to the game as well.  I've come across a fantastic educational website I feel would assist you.  It is called babypips.com 

Thank you Hangseng for your awesome advice.  I will be following it almost by the letter. I find myself in a similar situation that prompted you to do a mindset change.  You are a great inspiration to the rest of us starting out.


----------



## hangseng (29 December 2008)

Sharkey88 said:


> Hello Tugga.
> 
> I'm new to the game as well.  I've come across a fantastic educational website I feel would assist you.  It is called babypips.com
> 
> Thank you Hangseng for your awesome advice.  I will be following it almost by the letter. I find myself in a similar situation that prompted you to do a mindset change.  You are a great inspiration to the rest of us starting out.




You are too kind Sharkey.

Please don't take it as advice, more as information to be shared and used as may be relevant to your individual circumstances.

For what it is worth I am currently employing the best advice I ever read.
"_Be greedy when others are fearful_ and fearful when others are greedy". I am doing the former in blue now on a regular basis, I have done very well following that simple Buffet principle. I will tell you all in 2010 if I was right to do so.

Best wishes to all for 2009.
Hangseng


----------



## hotqld (31 December 2008)

*Re: Newbie*



jimmyjohn said:


> Hi, have just located this site.  Have not started trading as yet.  Still researching and learning.  So confusing on where to start.  *Which book to read first? * I only want to paper trade initially and then trade on a small scale.  *I do not want to pay an exorbitant price for a software program but I do need one for charting, back testing etc.  I understand I should be looking for a 'toolbox' and not a 'black box' (ie something I can modify).*
> Can someone please point me in the right direction.
> I have looked at Pro Trader.  It would be preferable to use something that I can readily obtain assistance for and ideally attend a user group.  I live in Queensland, on the Sunshine Coast (and yes it has been unusually cold this winter!!!, but coming from Canberra, I would not dare complain!).
> I did do a search on other threads but could not find something which actually educates me on where to start.  I am keen to get going!!!!!!!




Have a look at "Market Analyst" its back testing / chart stimulation is great as you can enter a date in the past and then move forward one day at a time without seeing the future. What a difference it makes to your backtesting I reckon any backtesting done where you know/ can see the future is flawed!
"Acofe" a local company teaches share trading basics.
I think a mixture of class room study, books and forming a private trading group is the way to go.
Cheers
Tony


----------



## alphatraderx (15 March 2009)

*hi all*

Hi all,

I am new to this forum. Just a brief introduction of myself, I had worked in various sectors in the banking industry: asset management, bank treasury, hedge fund and financial news provider. My experience and knowledge exposure me to equities, commodities and forex. With these experience and knowledge, I am now trading for a Living with my fully tested trading system based on real life experience. 

Hope to share trading experience and learn from each other here.


----------



## nunthewiser (16 March 2009)

*Re: hi all*



alphatraderx said:


> Hi all,
> 
> I am new to this forum. Just a brief introduction of myself, I had worked in various sectors in the banking industry: asset management, bank treasury, hedge fund and financial news provider. My experience and knowledge exposure me to equities, commodities and forex. With these experience and knowledge, I am now trading for a Living with my fully tested trading system based on real life experience.
> 
> Hope to share trading experience and learn from each other here.




and this is a quote from your web page

cheers obi one



> "If you are a Forex newbie and have a question, who can you ask?
> 
> The best channel to learn and build your confidence in Forex trading by subscribing to my Practical FX trading educational services.
> 
> ...




blessya


----------



## nunthewiser (16 March 2009)

p.s i really thought the "master" bit was really cool 


where do i send the check?

i'll have 3 thanks


----------



## Wysiwyg (16 March 2009)

*Re: hi all*



nunthewiser said:


> and this is a quote from your web page
> cheers obi one
> blessya




Benefit of the doubt nun.The chap says he is experienced so could be a good contributor.


----------



## nunthewiser (16 March 2009)

*Re: hi all*



Wysiwyg said:


> Benefit of the doubt nun.The chap says he is experienced so could be a good contributor.




yeah m8 wasnt any offencce intended just found the "master" bit rather intriguing followed by the pay me bit.


----------



## sammy84 (16 March 2009)

I'm with nun, benefit of doubt goes out the window when any one proclaims themselves a master. Unless of course your god


----------



## Wysiwyg (16 March 2009)

There are many traders not making it trading forex and trying to sell "their" indicators to the newbs.

note , this is my updated view after blog perusal.


----------



## nizar (16 March 2009)

"learn from the master himself"

Classic


----------



## sinajee (16 March 2009)

*New 2*

Hi Everyone

I am new to the game also, have done the courses, lost  money and am back at square one.....well not quite!!!!!  I am back to the drawing board, following suggestions here and back to the reading, having a go at the asx game and doing dismally.... but then again I guess that is all part of the process.  What I was wondering is if there is anyone out there in a similar situation who would be interested in in getting together on skype or whatever, swapping notes etc, (even a group of people).  I am finding it very hard at the moment to keep motivated and 2 (or more )heads are better than one. If anyone is interested pm me please. TIA


----------



## stash (25 March 2009)

Hi Sinajee

i too am in the same boat, i would love to get a group of us together. I am reading all i can at the moment and have some limited experience.  The main problem i have is that i have probably read too much and and found many contradictory methods out there.
it.

At the moment i am day trading on paper, nothing much just a few $ here and there  But fun.

Where are you?

regards

Stash


----------



## MaverickTrader (30 March 2009)

I'll be in on that too if thats okay


----------



## Dowdy (25 May 2009)

i'm new to the commodities and forex trading. 

I took a killing when i traded forex but made it all back trading commodities - trading heating oil mainly.

Guess i stick to the things i know about the market, unless someone can give me some tips on forex


----------



## warezwana (19 June 2009)

hangseng said:


> Don't pay others thousands to attend courses and buy their software, unless you simply have loads of cash and want to. IMO of no benefit and the money is better invested in the market.



*Very good advise to new people wanting to learn to trade!* (wish I had seen this before Feb09) and before my pockets became lighter for next to no help at all.



hangseng said:


> Sharing knowledge and information is the greatest gift to anyone, only good flows from it. 'Chie tsuo'




I once watched this movie called *Pay It Forward*, well worth watching I think.



hangseng said:


> Never do harm to anyone on the journey and offer others all the help you can. The life rewards outweigh any monetary aspect by a country mile.




Great words If one thinks about it....


----------



## stardust1984 (25 June 2009)

*Re: New 2*



sinajee said:


> Hi Everyone
> 
> I am new to the game also, have done the courses, lost  money and am back at square one.....well not quite!!!!!  I am back to the drawing board, following suggestions here and back to the reading, having a go at the asx game and doing dismally.... but then again I guess that is all part of the process.  What I was wondering is if there is anyone out there in a similar situation who would be interested in in getting together on skype or whatever, swapping notes etc, (even a group of people).  I am finding it very hard at the moment to keep motivated and 2 (or more )heads are better than one. If anyone is interested pm me please. TIA




I am a newbie and I am trying to learn everything I can, I would love to join your group


----------



## Deanotrade (1 July 2009)

*Re: Newbie Lessons - All your questions answered*

Hi Guys,

I have never made a trade but am looking to dip my toe in the water and begin to learn.
I have set up a trading account today with bell direct and am just looking to put a few thousand dollars into the account and maybe buy shares in 2 - 3 companies.

I may sound like i am after quick money by saying this (and i am) but i would like to look at buying short term shares that potentially move 10% - 20% over a day or 2 (and yes i understand that this can be in either direction).

Whilst i dont have money to throw away i am happy to be somewhat risky with my initial investment but would like simple advice on the following

1. Where is the best place to begin to learn about what makes a share attractive and why shares move up and down

2. Does the type of volotile share im looking for fall into a category or have some trade industry lingo assoicated with it

3. Day trading i hear has large movements daily, what type of shares are these

I have a million questions but these should get me started.

Cheers


----------



## MindBoggled (3 July 2009)

Hi Guys,

Another nubcake here  been reading along here for a while and finally decided to sign up  I couldnt agree more with what the others have said about the education thing. Thought i would add my : worth.

Before i went and bought any books i read alot of the posts here and have to say that reading them has helped me understand what the books are saying. If you take the time to educate yourself properly you can make a fair ammount within the first year (_got in on a few companies just before the ex. date and got some free divs _). that said i get paid to look at the asx announcments / prices all day ( work in a share registry )

Looking forward to sharing the small ammount that i know


----------



## antzlovinit (3 July 2009)

MindBoggled said:


> Hi Guys,
> 
> Another nubcake here  been reading along here for a while and finally decided to sign up  I couldnt agree more with what the others have said about the education thing. Thought i would add my : worth.
> 
> ...





Im in the same position except dont work in a share registry. Its always good to see other peoples comments and interests!


----------



## MindBoggled (3 July 2009)

Bah really need to use a spell checker this early in the morning.. i apologise now for the horrible engrish you will be subjected to


----------



## warezwana (3 July 2009)

*Re: Newbie Lessons - All your questions answered*



Deanotrade said:


> 2. Does the type of volotile share im looking for fall into a category or have some trade industry lingo assoicated with it




'Movers'...


----------



## lindsayf (3 July 2009)

*Re: Newbie Lessons - All your questions answered*

Hi
have you got any eod charting software, read the asx website to understand tha basics, read a few books that start the process of understanding how price reacts at previous support or resistance areas, and other things that move price?  I may be wrong but I think you would save a lot of $$ by doing some paper trading and self education before you consider live trading.


----------



## warezwana (4 July 2009)

*Re: Newbie Lessons - Just a general direction question*

Well it's a no trading day for me (happy 4th July to all the US folk) so sitting here scanning the forum at 4am  and I got to thinking....(before the brain turns to mush)

*I'm just wondering with all the experience here in this forum if anyone or better yet several people could offer THEIR idea on a direction for the new wannabee traders...* or is there just too many different roads newbies can start down!

Lately I've been reading lots about you guys (the ones who actually REAL trade) and your trading the SPI and Futures, CFD this and CFD that blah blah blah  (insert a wooosh sound effect) and you guys have obviously *come a LOOOONG way* since starting out. 

I have personally found that with myself I head off in a direction with a set thing,theme,goal or objective and start learning it only end up heading another after reading more and more threads as time goes on. *Soooo...*

I'm just wondering what your thoughts are on a direction for new people, ok I know the old 'grab some books and read,read, read'... but WHAT? What should new people be trying to learn and get sorted...

for example...
*-*Terminology, or how the markets actually work...
*-*Learn Money Management and or Strategies...
*-*Should newbies learn to start with CFD's or Options or something else maybe?
*-*Is it _really_ neccessary to have something like a trading plan (the likes of an AmiBroker system,*do ALL traders have these systems worked out and back tested*)...
*-*What markets should people start with? Are some easier than other to grasp or start out in. 

*I know trading is an individual road to go down but just wondering if there is some sort of general direction I guess or certain points/aspects that newbies should spend their time on achieving rather than aimlessly wondering and bouncing from idea to idea like myself in the wasteland that IS the Markets.*


*Am I wasting my time? Could it be better spent!*
I myself am currently trying to get a system working in AmiBroker for the likes of Nasdaq which I follow religiously but wonder if this is where I should be spending my time. Also once I have something working and showing good resuts what should I do with it when it shows a buy signal, do I then apply the right strategy? (god only knows what that would be after hearing about you guys and your 'morphing') If there is some experience out there that could clear this up I know it would be appreciated by at least me if not many others.
*gone to the fridge for a RedBull*...


----------



## daniboy01 (6 July 2009)

Good post. I am exactly in the same situation.


----------



## JaZLee (6 July 2009)

Hi just found these forums today, great info 

many thanks to hangseng for his inspiring posts and many links.


----------



## Medici (6 July 2009)

Must be the ESP or something. I just post some comments today which basically stating the same questions every one have here.

WHERE IS THE REAL NEWBE FORUM WHERE YOU CAN GET ALL YOUR QUESTIONS ANSWERED ?

Or maybe we can start forum on : prices of condoms ? is the hitler right ? is my garbage to expensive ? are the williams sisters ok ? and so on and on and on....

I hope not.

Reading books id good, but even after reading books would be a good to see if any one also applying book techniques in trading.

And what is really difference trading ASX and american markets ?

What are real capital is good to have before jumping into trading ?

Do you invest all your capital or tray to spread..?

Hmm..


----------



## acedrum (6 July 2009)

The problem is there are so many different things you could possibly learn and so many different trading and investing styles across so many different markets and on and on and on etc etc...

The more you start to learn, the more you will realise you don't know and the more you will realise you can't just find it for free on a discussion forum (key word - discussion)

You need to work out what your financial goals and timeframe are to find what it is you need to learn. Only then will you start find anything useful here IMHO.


----------



## warezwana (7 July 2009)

daniboy01 said:


> Good post. I am exactly in the same situation.




as me? or did you mean someone esle's post


----------



## Vito (9 July 2009)

Hi All,
       For what its worth I will give you my point of view. I have been trading for approx 3 years and have probably made every mistake in the book. The worst thing that happened was that I made money to easily when I started. This caused me to become over confident and did'nt use any sort discipline in my trading. I lost what I made and more. I have spent 1000's on coarses etc. Some have been good and some of them have been a rip off.
      The penny dropped for me when I worked out what sort of trader I want to be and realized that trading isnt about being right all the time and your job as a trader is minisie your losses. I know you read this every where but its true your primary job as a trader is to be a "risk manager".
      The other thing that I worked out is that I am not a good discretionary trader. I cant sit in front of a screen and trade real time. I find it boring and its not for me. What I now trade  are 4 differant mechanical systems which i get a broker to execute because I am not discipled enough to execute the signals.
      Ever since I worked it out what I am about and what suits me I have been profitable and I can sleep at night trading systems that have a 30% win rate and I know my losses will be small enough to make all of this work over the long term.
     My advice to you all is to take the time to work out what will suit you. There is no "Holy Grail" or magic system. 

Hopefully this helps. I know all of this has been mentioned before. You need except it put together a plan and work out what suits you. You need to educate your self about trading and money management and your self as a trader.

If any wants to have a chat about my journey I am happy to talk them. If you private me and we can go from there. I wont be offering any advice on systems etc because I am not good enough to do that, but I am happy to talk about the mistakes I made and to may be help you avoid them.

Vito


----------



## warezwana (10 July 2009)

daniboy01 said:


> Good post. I am exactly in the same situation.




and how are you getting on? What are you working on at the moment to improve!



Medici said:


> Must be the ESP or something. I just post some comments today which basically stating the same questions every one have here.
> 
> WHERE IS THE REAL NEWBE FORUM WHERE YOU CAN GET ALL YOUR QUESTIONS ANSWERED ?



It's here but remember, the actual people here who trade have other things to do with their time than ALWAYS answer newb questions, while you wait for answers there's LOTS of threads to search/read... It can be frustrating  to not get answers as we all do from time to time but think of how you will be if you succeed in trading, how much time would you spend repeating answers to newb 


Medici said:


> Reading books id good, but even after reading books would be a good to see if any one also applying book techniques in trading.



I would imagine most, as they often say which books to read... books that helped them.


Medici said:


> And what is really difference trading ASX and american markets ?



From what I know, Volatility/Volume, sheer amount of Stock quantity


Medici said:


> What are real capital is good to have before jumping into trading ?



Seems that the more you start with the more you stand to make, also less likelyhood of emptying your account when you have your consecutive run of losers. Also trading with small amounts can be hard to clear a profit after Broker fees. But you should find this out by Virtual/Paper trading don't you think. I mean place a identical $100 trade and a $1000 and watch the outcome


Medici said:


> Do you invest all your capital or tray to spread..?



Im split on this, but I think 'not all' I have read people talking about commiting _NO MORE_ than 60% of your total account at one time on active trades but...  with strict money managment especially if your starting with a small amount. Say your starting account is $1000 you'd get NO where fast trading with 6 lots of $100 compared to say a $600 trade, I could be wrong though 




acedrum said:


> The problem is there are so many different things you could possibly learn and so many different trading and investing styles across so many different markets and on and on and on etc etc...
> 
> The more you start to learn, the more you will realise you don't know and the more you will realise you can't just find it for free on a discussion forum (key word - discussion)
> 
> You need to work out what your financial goals and timeframe are to find what it is you need to learn. Only then will you start find anything useful here IMHO.




I would hope that most newbies here are not only searching the forum BUT ALSO reading a book currently.



Vito said:


> Hi All,
> The penny dropped for me when I worked out what sort of trader I want to be and realized that trading isnt about being right all the time and your job as a trader is minisie your losses. I know you read this every where but its true your primary job as a trader is to be a "risk manager".
> *What I now trade are 4 differant mechanical systems* which i get a broker to execute because I am not discipled enough to execute the signals.
> Ever since I worked it out what I am about and what suits me I have been profitable and I can sleep at night trading systems that have a 30% win rate and I know my losses will be small enough to make all of this work over the long term.
> ...




I think that the bigest things newbies need is clear direction on WHAT to learn if thats doable.. it's probably about as clear as mud though im guessing


----------



## mazzatelli1000 (10 July 2009)

First of all, why are you posting in bold?
You screaming at us? LOL



warezwana said:


> I'm just wondering what your thoughts are on a direction for new people, ok I know the old 'grab some books and read,read, read'... but WHAT? What should new people be trying to learn and get sorted...
> 
> for example...
> Terminology, or how the markets actually work...
> ...




I am a concept person, so always preferred to understand the underlying bigger picture. [Also really no choice, it was part of my course ]

Maybe the following structure
1) Research and then choose a market - equity/index, commodities, FX or fixed income
Complexity depends on the traders knowledge base and interest

2) Research instruments available to trade - spot, forwards, futures, options
Again the traders knowledge base will determine what to utilise.
Options are non linear derivatives, and have other factors that affect its valuation.
You can get away trading them without underlying knowledge, but they can be silent assassins 

Start with that.


----------



## johenmo (10 July 2009)

I have focussed on risk management - position sizing, exits, stop loss, type of trader - has taken nearly 12 months and have recognised I am not what I thought; stock selection - filtering out those that don't fit, and reading charts - particularly price movement and volume.  So I haven't traded for 14 months whilst I learn.  Still have stock.

A lot of have asked about mentors.  I have a couple of associations with people who are learning but are ahead of me and one just helped the other day to cement supply and demand.  I am also paying a subscrip 2 the chartist for educational purposes and would have made $ if I had traded.  Nick's profitable trader dvd tied up a lot of loose ends.

How much - work out trades of diff sizes and the effect of commission and howmany % it is etc.  My prelim work ties in Aust brokers need a position size about 2 to 3 times that for IB. 

Like Vito, made $ years ago and thought I was good enough.  It's confusing and the road ahead isn't mapped out.  Read the thread about how many hours to be an expert.

Be persistent and realize good preparation beats good luck more often than not.


----------



## Nick Radge (11 July 2009)

A lot of useful comments been made here. I agree 100% that you shouldn't pay a lot of money for education and I also agree that you need to work hard at it before you gain success - funnily enough no different to any other career.

I get a lot of people asking me 'what is the best way to be successful' and the resounding answer I give is simple: trend following.

1. Learn everything you can about trend following
2. Understand why trend following makes money 
3. Read The Complete Turtle Trader by Michael Covel for some insights an inspiration
4. Understand why trend following makes money 
5. Read up on Bill Dunn, John Henry, Ed Sykota - read between the lines, these guys have been successful for 35-years  
6. Understand why trend following makes money
7. Appreciate the good and bad of trend following, accept both, then continue to do it.
8. Understand why trend following makes money

Get the main points from and you're 1/2 way across the line. 

The other 1/2 comes from exhibiting persistence, tenacity and patience. Most people fail at the trading game because of these three traits. You need to understand what the trading journey entails. Combine that knowledge with a positive expectancy trend following system and *you can't not fail over the longer term.*

Nick





_This post may contain advice that has been prepared by Reef Capital Coaching ABN 24 092 309 978 (“RCC”) and is general advice and does not take account of your objectives, financial situation or needs. Before acting on this general advice you should therefore consider the appropriateness of the advice having regard to your situation. We recommend you obtain financial, legal and taxation advice before making any financial investment decision._


----------



## warezwana (11 July 2009)

mazzatelli1000 said:


> First of all, why are you posting in bold?
> You screaming at us? LOL



It's helps in getting a reply  na, just to help my replies stand out 



mazzatelli1000 said:


> I am a concept person, so always preferred to understand the underlying bigger picture. [Also really no choice, it was part of my course ]
> 
> Maybe the following structure
> 1) Research and then choose a market - equity/index, commodities, FX or fixed income
> ...



1) been looking and playing with Nasdaq for the last 6 months so will probably stay with that, unless people think other markets are easier to start in.
2)I currently spend about 50-60hrs/week in front of books/computer, so I believe im doing all I can at the moment to progress.
Can I ask a dumb question here ....  what are 'spots and forwards'? I did a little search but couldn't find anything to explain it.
thanks for the 1) and 2)  I hope that will help some people other than just me.



Nick Radge said:


> A lot of useful comments been made here. I agree 100% that you shouldn't pay a lot of money for education and I also agree that you need to work hard at it before you gain success - funnily enough no different to any other career.
> 
> I get a lot of people asking me 'what is the best way to be successful' and the resounding answer I give is simple: trend following.
> 
> ...




Thanks for the reply Nick and everyone else that puts in effort to answer questions. 
If I fail WHICH I dont intend too I have no idea what it will be from  I know it wont be from lack of desire, enthusiasm, commitment.

So far my direction is, working on my 'Trading System' (been a tough journey to understand what to put in it but expecting my copy of 'Quantitive Trading System' which is due any day soon), and then backtesting/optimizing it. (mental note added - need to buy Data sometime soon) No doubt i'll place some results soon to ask what people think of the results as there is LOTS of unknown result figures that I have NO IDEA what they mean . I have saved a copy of one of 'Beamstas' and refer to it but understand that my goal is not to get mine identical, it's nothing more than a vague resemblance of results. I did read somewhere though that you shouldnt backtest on ALL your data (Universe) and that it should be spread into 2 sections!!!! A bit confusing but I guess the 'QTS book' will cover more on this when I read it.
Then I will move on to virtual trading it of course but in the mean time I am reading 'Trend Trading' by Guppy and then I also have 'Chart Trading' after that and then in my spare time apart from reading the forum everyday I'll be taking a look at trying to understand the 'Greeks' of Options (damn that 'WayneL' his knowledge is both scary and impressive) as I plan on using them on my Nasdaq list.
I have read a while ago several people suggesting one of your books Nick as a must read? Do you know what it could have been and where I can get it from if it really is one that should be read!

Anyway does all this sound like I am on the right direction?


----------



## maxiewawa (15 July 2009)

Max here... hi everyone! Hopefully this short post will be the first in a step to making a killing on the stock market!


----------



## Timmy (15 July 2009)

Welcome Maxie!


----------



## Early Bird (22 September 2009)

hi all,

just wanted to add my recomendation for the book "$1 million for life" by ashley ormond - perfect introduction for beginers. i think it was in this thread i first saw it recomended and its just awesome. explains everything in a simple way and uses plenty of real life example/figures about how to run your finances from budgeting to types of investment and even super. very thorough and very good. almost finished it and feel ready to hit the road to a better future. 

i will say though that it has put me off short term trading as a way to generate income, i have decided i'm an investor pure and simple, and will build wealth through property and shares until i have enough to stop reinvesting the income and start living off it. 

simple as


----------



## prozac (28 September 2009)

Not new to the game but my first post to this site. G'day.


----------



## kam75 (1 October 2009)

I reckon Frank Watkin's book "Exploding the Myths" is an excellent book for a begining trader.  Super simple to read, it tells you all about the myths, traps and pitfalls out there.  Things like listening to your broker for advice, the hot tip syndrome, buying cheap selling dear and many others.  The book contains detailed instructions on how to develop a trading plan, and, how to actually trade to succeed in the markets.  For $34.95 its awesome.


----------



## HighRyder (4 October 2009)

kam75 said:


> I reckon Frank Watkin's book "Exploding the Myths" is an excellent book for a begining trader.  Super simple to read, it tells you all about the myths, traps and pitfalls out there. The book contains detailed instructions on how to develop a trading plan, and, how to actually trade to succeed in the markets.  For $34.95 its awesome.




Thanks Kam; might look into buying this book very soon.


----------



## bmar711 (25 June 2010)

*New to trading*

Hi guys 

I'm new to this site, and I'm relatively new to trading as well. I was hoping that you guys could help to set me in the right direction.

I've only been looking into trading on the stock market for about a month now, so I only have a very basic knowledge of how the stock market works. I've watched videos and read a few things that a friend showed me, and I am interested in day trading options.

I was wondering where the best point to start with this would be? I have been reading about candle charts mostly, as well as identifying trends and patterns in stock market data.

My current understanding of day trading options, is that you are looking to identify an edge that puts the odds in your favour, and then act upon that edge, and through sticking to specific rules you have made for yourself (based on how much you are willing to risk), you will be able to make consistent winning trades. Is this basically the concept?

I am not looking for a 'get rich quick' scheme as I know the only way you can be successful on the stock market is if you educate yourself about it (as well as gain experience), just like all things in life. I'm more interested in learning about how I can become a consistently successful trader so that I can make a living out of it whilst taking risks I am comfortable with. Any helpful advice would be appreciated. 

Lastly, I am also aware of the psychological effects trading can cause such as emotional pain, fear, greed, etc. and I was wondering if anyone has any advice on how to manage these? From my current understanding, I think the more you think like a robot and the less emotion you bring to your trading, the more consistent your results will be 

Thanks for any help you guys can give me, I do really appreciate it.


----------



## Joe Blow (25 June 2010)

Hi bmar711,

Firstly, welcome to ASF! 

I have merged your introductory thread with the "New to the game" thread where those new to the stock market introduce themselves and often ask a few basic questions. I'm sure someone will be along to respond to some of your questions soon.

My initial advice would be to start working your way through the "Beginner's Lounge" forum, reading threads on topics that interest you. The site search function is a very useful tool and I would familiarise yourself with it as quickly as possible so you can track down threads on topics that interest you. With almost 15,000 threads here at ASF there are plenty of interesting discussions worth reading and absorbing.

Some tips on making the most of the site search function can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=8380


----------



## 5424577 (18 August 2010)

Hang seng - I am now highly motivated from your previous posts - i deeply thank your contribution.


----------



## mallymcl (10 October 2010)

For those who were asking about studies and what not, I'm a recent Commerce/Law graduate and I am doing all my learning as if I just fell off the back of a truck, from all of you guys.

Everyone needs some specific accreditations if you want to get into advising etc RG146 and others. 

Trading with your own money is a good start, paper trading just didn't cut it for me. It's not real money so you don't really care as much and you're not in a frame of mind like you would be if it was your money. 

I recommend opening an online trading account (I use Bell Direct, Interactive Brokers is cheper and I intend to eventually use them but you need 10grand and you'll get hit for not doing a certain amout of trades and a few other things). Put some coin in something relatively safe, keep building your capital and keep track of your stocks and most importantly diversify, so always be reading and looking for what's going to be your next stock to invest in. Start with shares learn learn learn then delve into other securities. I'm very excited to get going.

Mal


----------



## So_Cynical (10 October 2010)

mallymcl said:


> keep building your capital and keep track of your stocks and most importantly diversify, so always be reading and looking for what's going to be your next stock to invest in. Start with shares learn learn learn then delve into other securities. I'm very excited to get going.




So what have you short listed and why?


----------



## mallymcl (11 October 2010)

Ahh I'm in with FMG, CPL, CCC and QHL now.

PEK/CCC were on my shortlist and I bought into CCC just this morning.


Reasons have been mainly just what I've read. I can't do my own chart analysis yet but I've been reading other people's on the stocks. I'm pretty basic at the moment, I'm going off ASX announcements, price history and general company outlook.

A big problem with my portfolio is it's not diversified but I've just been focusing so much on Junior Mining companies after that "8 Junior likely take over targets" or whatever it was came out. So I followed NEC for a while then went trying to find companies LIKE NEC. Been reading about REE but i'm not quite convinced with what i've read to buy Lynas or anything yet.

I have relatively small holding in my stocks but it definitely helps my hunger for info.


----------



## Ding (14 October 2010)

A question People.......

 I have quite a few SBL shares i have been sitting on for a bit....... today in my portfolio there is a share turned up called SBLR which i didnt pay for or order. There is quite a few of these shares and i would like to keep them if i can........

 How do i keep these shares? How do i pay for these shares??


----------



## Nidz (14 October 2010)

G'day forum. First post post. Just signed up to do some trading. My only other shares are with the company I work for. I was looking to get on the Avanco rise but now I read that the major stockholder has sold off a heap of shares and it's brought it back to 16c. Wondering if it's worth jumping on now or waiting.. 

Anyhow g'day.


----------



## youngone (15 October 2010)

mallymcl said:


> Ahh I'm in with FMG, CPL, CCC and QHL now.
> 
> PEK/CCC were on my shortlist and I bought into CCC just this morning.
> 
> ...





Hi guys..this is my first post. Im a new investor, started trading last few months, made about $200 profit from 2 months of trading. I have alot to learn, Im currently trading through Comsec. 

I have no idea what to buy or when to buy.

Mal. I was just lookinig into your companies, it seems you have more insight, your timing is perfect. CCC went from 5 to 7, i can learn alot from you .

Hope i can get a better understand from joining Aussie Stock forum.


----------



## JimBob (15 October 2010)

Ding said:


> A question People.......
> 
> I have quite a few SBL shares i have been sitting on for a bit....... today in my portfolio there is a share turned up called SBLR which i didnt pay for or order. There is quite a few of these shares and i would like to keep them if i can........
> 
> How do i keep these shares? How do i pay for these shares??




From what i understand, shareholders received 1 SBLR share for every 8 SBR share held.  You would have received the SBLR's free of charge.  You can sell them on market if you wish but if you are a holder of SBLR on 20 October you can then pay an extra 2c per SBLR to convert to the normal SBL.  Basically this rights issue give shareholders the chance to buy more shares at 2c per share.  The SBLR's are yours to keep until 20 October.  You can either sell them on market before this date or keep them and pay 2c per SBLR you hold to convert to SBL.  If you do nothing, they expire worthless.  

Hope that makes sense.


----------



## burglar (28 November 2010)

hangseng said:


> Oh and I don't sleep much so I had plenty of time to put this info together




You seem to be a little bit excited.
What did you have for breakfast? ... No!  Sorry! Just kidding!!!


----------



## Wysiwyg (28 November 2010)

johenmo said:


> I have focussed on risk management - position sizing, exits, stop loss, type of trader - has taken nearly 12 months and have recognised I am not what I thought; stock selection - filtering out those that don't fit, and reading charts - particularly price movement and volume.
> 
> Like Vito, made $ years ago and thought I was good enough.  It's confusing and *the road ahead isn't** mapped out*.  Read the thread about how many hours to be an expert.
> 
> Be persistent and realize good preparation beats good luck more often than not.




I could have written something very similar about thy journey too.


----------



## hangseng (28 November 2010)

burglar said:


> You seem to be a little bit excited.
> What did you have for breakfast? ... No!  Sorry! Just kidding!!!




That post was done so long ago, I am wondering what you are on lol


----------



## burglar (28 November 2010)

hangseng said:


> That post was done so long ago, I am wondering what you are on lol




Yeah I know! I am new here. I was reading this thread from the beginning and suddenly ... whoa ... a chance to be witty!

It was way too personal, please forgive me!


----------



## burglar (3 January 2011)

hangseng said:


> Oh and I don't sleep much so I had plenty of time to put this info together




I don't sleep much either, leastways not at night !


I see you stick with PEN in the Stock Tipping Competition, ...

I have changed to AXE.
Now I am wondering if the PEN is mightier than the AXE


----------



## hangseng (5 March 2011)

burglar said:


> I don't sleep much either, leastways not at night !
> 
> 
> I see you stick with PEN in the Stock Tipping Competition, ...
> ...




Missed the March competition though 

Yes I stuck with PEN, I also invested very heavily in PEN once I confirmed for myself what was going to happen and what I believed could happen. Thankfully I did most of this sub 4c. When others were panic selling, I was buying PEN as often as finances permitted me to. By far the best decision I have made in the market and the journey with PEN has just begun.

Now PEN is in the ASX All Ords and just a step away from ASX300 listing. So much about to happen with PEN and it never ceases to amasae me how overlooked PEN has been. PEN will be a producer in less than 12 months (permits pending) and then people will sit back and ask themselves why they didn't see it coming.

The next 12 months will be the best of the journey for me.


----------



## hangseng (5 March 2011)

vine said:


> I'm looking for a chart that was posted about 6 months ago by one of the experienced posters. It was a chart that showed the relationship between the share price movement and the different development stages of a mining company as it moved from explorer to producer. I've spent a bit of time looking but can't seem to find it, does it jog anyones memory. Thanks!




This is what you are after I believe. I have posted this quite a few times in the last few years both here and elsewhere. I am actually looking at this again in relation to my favourite stock to display just how far the share price could actually go if this chart proves correct.

http://www.globalspeculator.com.au/mining-life-cycle.html

and 

http://madisonaveresearch.com/2008zincmarkets.htm


----------



## 863 (12 March 2011)

hangseng said:


> This is what you are after I believe. I have posted this quite a few times in the last few years both here and elsewhere. I am actually looking at this again in relation to my favourite stock to display just how far the share price could actually go if this chart proves correct.
> 
> http://www.globalspeculator.com.au/mining-life-cycle.html
> 
> ...




Would this graph also be applicable to oil companies eg FAR?


----------



## tminus (20 March 2011)

hangseng said:


> Missed the March competition though
> 
> Yes I stuck with PEN, I also invested very heavily in PEN once I confirmed for myself what was going to happen.




Curios to know whether you sold your positions, when the nuclear crisis occurred.


----------



## Chris55 (28 March 2011)

*New to shares*

Hi I have just started to learn about the share market, so have a long road ahead...... I have decided at this stage to be an investor..... not a day trader, I need to learn a lot more before considering day trading..... anyway I have seen a share in paper = RockBldg but I cannot get any info on it, does anyone know what this companies name is, it is $2.41 with Div 6.22f, is it any good?


----------



## LiL_JaSoN (28 March 2011)

*Re: New to shares*

Hangseng, great to see you here, iv seen you around the HC forum. 

Im also still loaded on PEN.



Chris55 said:


> Hi I have just started to learn about the share market, so have a long road ahead...... I have decided at this stage to be an investor..... not a day trader, I need to learn a lot more before considering day trading..... anyway I have seen a share in paper = RockBldg but I cannot get any info on it, does anyone know what this companies name is, it is $2.41 with Div 6.22f, is it any good?




I believe the company your looking at is ASX CODE: ROK

The Rock Building Society Limited

Have a look on the ASX website, they have a great online course to get you started.


----------



## johnnyoops (20 August 2011)

Hey guys i'm glad i stumbled across this forum, looks like a good place to learn from.
I basically have decided i would like to try my hand at trading. I understand there's a lot of research that goes into it before i can even think about physically trading anything.

Id like do focus on shorter term trading. (Days/Weeks/Months)
I have a couple of investment properties and i'll let those stay as my long term investments. 
I'm just hoping you guys can point me in the right direction in regards to what books i should be getting, what i should be studying etc. I don't want to be buying all these books about long term trading when i have no interest in it.
Also, is these any recommended software? I'm guessing com-sec is standard or is there something better?

Thanks for the help guys i hope i'm not asking too much.
-John


----------



## joea (20 August 2011)

johnnyoops said:


> Hey guys i'm glad i stumbled across this forum, looks like a good place to learn from.
> I basically have decided i would like to try my hand at trading. I understand there's a lot of research that goes into it before i can even think about physically trading anything.
> 
> Id like do focus on shorter term trading. (Days/Weeks/Months)
> ...




Hi.
Go to Forum Jump above and then click on software and data. That should then be followed by trading strategies. Follow up that with the best trading book posts.
In about a weeks time, you maybe able to get an idea what way you want to tackle the market.
i.e. using indicators, Elliott wave, Volume Spread Analysis etc. etc.
Its like " how many ways to skin a rabbit", well there is several, but the correct way is quick and easy.
joea


----------



## wombat40 (20 August 2011)

johnnyoops said:


> Hey guys i'm glad i stumbled across this forum, looks like a good place to learn from.
> I basically have decided i would like to try my hand at trading. I understand there's a lot of research that goes into it before i can even think about physically trading anything.
> 
> Id like do focus on shorter term trading. (Days/Weeks/Months)
> ...




welcome to the world of trading mate...i hope you have plenty of time on ur hands...and a bit of money to buy some books etc.....

some will say no need for books....but having something printed you can go back to is priceless....

others may say different but short term trading is not for begginers...easier to sit on someting long term in the early years i reckon...many suffer from info overload and end up giving it away....

mark


----------



## johnnyoops (21 August 2011)

Hey guys thanks for the replies so far. I've noticed that there are many terms for the different trading methods. Is there somewhere i could find out what they all mean, and also what the common shorter term strategies are? Any books focusing on these strategies would be great too.

wombat40- I do appreciate what your saying but i feel like if i'm going to put my focus on studying shares, i would like it to be short term. As I stated, property is part of my long term strategy, and i wanted to give the share market a go as a more short term option. Who knows i might get into longer term trading in the future but for now id just like to focus on getting the basics down, then putting my time into the shorter term side of things.

I know its not the cheapest of things to get involved in, and i'm more than happy to buy books, software etc if that's whats required.

Thanks again.


----------



## joea (21 August 2011)

johnnyoops.

Before you buy software you will need to understand how you are going to trade.
Software comes in "end of day", "delayed data" and "intra day live data."
You will require a platform to trade through, and better still be able to click on your software to go directly to trade.
You can also have software and trade through Commec or the like.

So Trend, Support and Resistance, Volume and Price will be you friends.
You also need to understand that you should look at charts in more than one time frame. If you trade daily charts, use weekly to see the bigger picture.
If you trade 12 minute intraday, then use hourly to get bigger picture.

I will now give 4 books.
The first go together for better understanding.
"High Probability Trading Strategies" by Robert Miner.
"Fibonacci Trading" by Carolyn Boroden.
Both have websites.
Currently on Gann Global Financial you can watch for free, videos of "Price Stategies to Identify Reversal Targets" by Robert Miner.
He concentrates on Dual Timeframe momentum.

Because Money management and risk control are so important Dr. Alexander has a number of books. The two standouts are "Come into my Trading room" and "The new sell and sell short". The second is available on ASF bookshop and it covers "How to Take profits, cut losses, and Benefit from price declines."

If you want to use only "price and volume"  in the form of VSA (volume spread analysis) go to Tradeguidersite. Here you will get some free stuff.

Note that these sites have their own software with special features.
The more active traders will have more than one software.

Just remember one thing and if you have a whiteboard, put it at the top in one inch letters.
"Any mug can buy a stock. Its when to buy and when to sell that makes the money".
 p.s. when buying books go to Amazon to get a look at the contents. 
ASF have a bookshop where  they maybe be available.

joea


----------



## howmanyru (21 August 2011)

oops, I read all the books, learned from forums, studied the market in depth, & after 6 years trading I still have not made a profit even during boom times, why? Because you can do all the research in the world but if you can't discipline yourself to cut your losses early and let your profits run, you are asking for trouble. I have excellent market knowledge but still can't control the urge to sell early & grab the cash while it's there & I still hold companies that are going down because IT HURTS to take a loss (& forum rampers play with your mind !!!) Sure, there are other things which are important, like stock picking, timing, etc, but unless you have mastered yourself, your *greed and fear* then it will still be hard to turn a profit.  Trading is psychology as much as market knowledge & software packages. Discipline is essentail so learn to control your emotions & psycology & you may do better than I have


----------



## joea (21 August 2011)

howmanyru said:


> oops, I read all the books, learned from forums, studied the market in depth, & after 6 years trading I still have not made a profit even during boom times, why? Because you can do all the research in the world but if you can't discipline yourself to cut your losses early and let your profits run, you are asking for trouble. I have excellent market knowledge but still can't control the urge to sell early & grab the cash while it's there & I still hold companies that are going down because IT HURTS to take a loss (& forum rampers play with your mind !!!) Sure, there are other things which are important, like stock picking, timing, etc, but unless you have mastered yourself, your *greed and fear* then it will still be hard to turn a profit.  Trading is psychology as much as market knowledge & software packages. Discipline is essentail so learn to control your emotions & psycology & you may do better than I have




I agree and that is what Elder books are about.
Mind, Method and Money Management. (Trading for a Living).
Trading Psychology and Risk Management.(The new sell and sell short).
Trading Plan etc.
joea


----------



## MrMomentum (22 August 2011)

The thing I like most about Elder’s book is how he analyses the same trend on different time frames.

I believe he analyses a trend on a long term chart then on a short term chart to confirm his understanding of direction.


----------



## tech/a (22 August 2011)

Pretty well all of "commonly" accepted trading practice is un proven.
Books are written and ideas are adopted as the latest  "Must " do trading practice.

Very very little is tested and proven.
Most when applied to the market in realtime fails dismally.

Most have heard of Schwagger.
Wrote a bible on futures trading but failed as a futures trader.

*MY* *ADVICE*

Don't take anything you read as a practical way to trade technically until you have tested it and know it will turn a positive expectancy And in which market conditions.
ELDER included.

Wiensteen another.
Gann another

While most ideas work in isolation few work consistently enough to profit--- longterm.
Much is long on theory and very short on application.

*Once you've read enough books and traded enough "theory" with the resultant losses--- we will be on the same page!*


----------



## marioland (6 September 2011)

Hi all,
 Newbie here, just wondering is there a website where you can see all the companies that will go public?
 Great pile of information on this website, but the structure makes it a bit hard to find what you're after or maybe I need more time to adjust to it... Thanks in advance.


----------



## Joe Blow (6 September 2011)

marioland said:


> Hi all,
> Newbie here, just wondering is there a website where you can see all the companies that will go public?
> Great pile of information on this website, but the structure makes it a bit hard to find what you're after or maybe I need more time to adjust to it... Thanks in advance.




Hi Marioland, welcome to ASF!

You can find a list of companies scheduled to go public in the next two months on the ASX website in the "Company Research" section: http://www.asx.com.au/research/company-research.htm

The best way to track down information of interest on ASF is to use the website search function you will see towards the top of the page. There is also an "Advanced Search" for more sophisticated search queries.

Take your time exploring the site, especially your user options, which you will find by clicking on the "Settings" link at the top of the page. In this section you will be able to customise many aspects of how you view and interact with the forums.

If you have a specific question about how any aspect of the website works, feel free to ask it in the ASF 'How do I do it?' thread.


----------



## marioland (7 September 2011)

Thank you for the detailed reply, Joe.


----------



## ProverbialPaul (29 February 2012)

What an amazing, inspirational thread! Gives me hope anyway.


----------



## FIGJAM (23 October 2012)

Hi All,

Good read. I have been trading off and on for the last 12 months. Its time to get more serious.

I got involved with Nick Halik's Sharelord program which wasn't to bad. But I don't want to discuss that.

I have two questions,

1. I need to learn or at least grasp a better understanding of how to read charts. Can someone point me in the right direction to gain some more knowledge?

2. What is a good, proven strategy for new people entering the market? I thought covered calls would have been decent due to the low risk, however people on this forum seem to think differently.

Short term goals is to make a little extra on the side, nothing major just a bit until my confidence rises.
Medium term goal, hell a holiday every year or two years would be nice
Long term goals, probably the same as everyone.... to become Ironman.......

*_Edit_ Forgot to mention at the moment I am considering to continue my covered call stratergy on a weekly basis as per Sharelords teachings. Before I made a real real bad trade I was making about $50 a week, ended up buying the wrong stock due to lack of knowledge in chart reading.

Also looking at investing into some blue chip shares on a weekly basis for the long term. Thinking banks, either put all into the one bank like the Commonwealth or through a couple, but not sure how that would effect the dividends (again in the long run when I own a fair few)

Cheers,


----------



## Trembling Hand (23 October 2012)

FIGJAM said:


> 2. What is a good, proven strategy for new people entering the market? I thought covered calls would have been decent due to the low risk, however people on this forum seem to think differently.




There is no "good, proven strategy for new people".

There is a good start though and thats the 2% rule.



FIGJAM said:


> *_Edit_ Forgot to mention at the moment I am considering to continue my covered call stratergy on a weekly basis as per Sharelords teachings. Before I made a real real bad trade I was making about $50 a week, ended up buying the wrong stock due to lack of knowledge in chart reading.




Was not due to " lack of knowledge in chart reading." It was due to poor risk management and probably crappy position sizing.


----------



## Gringotts Bank (23 October 2012)

FIGJAM said:


> Hi All,
> 
> Good read. I have been trading off and on for the last 12 months. Its time to get more serious.
> 
> ...




Patterns are good but most of them are impossible to backtest.  [thepatternsite.com]  This site also has lots of ideas on strategies you might want to test for yourself if you have the software for it.

If you want a system, keep it simple.  Just start with the past few days of OHLCV and see what you can find.  Amibroker threads have some very smart coders, such as trash.


----------



## FIGJAM (23 October 2012)

Trembling Hand said:


> There is no "good, proven strategy for new people".
> 
> There is a good start though and thats the 2% rule.
> 
> ...




thanks for the reply.

I guess the good strategy is a little vague. Maybe for a beginner, how would someone learn different techniques or strategies, ie forex, eminis, covered calls, buying blue chips and holding on, short trading, put options, trading using the leverage of cfds and anything else that I probably missed.

As for the second point, i'll take that on board, risk management with covered calls I believe you're talking about put options which you are correct I didn't purchase any to try and protect myself if things went bad, mind you with how badly it went I don't think they would have helped. With that being said, I was under the impression that the charts and following the stock helps one make a decision as to whether they should go into the market or not? which when I look back at the time I purchased I brought right at the end of a head and shoulders (not sure if this is actual terminology or just something that Nick came up with) and as per most instances following this the stock dropped. The entire market dropped at the sametime, but yeah.


----------



## FIGJAM (23 October 2012)

thanks Gringotts, I'll have a good look at it when I can.


----------



## Julia (23 October 2012)

FIGJAM said:


> Also looking at investing into some blue chip shares on a weekly basis for the long term. Thinking banks, either put all into the one bank like the Commonwealth or through a couple,



Do you have a particular reason for buying bank shares on a weekly basis, apparently regardless of the price at the time?


----------



## Gringotts Bank (23 October 2012)

The other thing I found useful is trend lines.  If you're a visual sort of person, finding where the lines are best drawn is relatively easy, and can provide a sufficient edge just on its own.


----------



## Joules MM1 (23 October 2012)

FIGJAM said:


> Hi All,
> 
> Good read. I have been trading off and on for the last 12 months. Its time to get *more serious*.




the first reply to your post is by far the one you need to concentrate on....prove you fully understand the suggestions made to in that post before you venture into any other suggestion.....if you get that part right, ragardless of what you do afterwards then that initial knowledge is going to prove to over and over the best first to have and practise.....break down exactly what risk is, do not be vague about it, make a workable plan.....after that you can go in any direction...doesnt mean a gurantee of success, at least you'll stay in the game longer to get the experience you need......

btw there's no such thing as more serious


----------



## Trembling Hand (23 October 2012)

FIGJAM said:


> I guess the good strategy is a little vague. Maybe for a beginner, how would someone learn different techniques or strategies, ie forex, eminis, covered calls, buying blue chips and holding on, short trading, put options, trading using the leverage of cfds and anything else that I probably missed.




Forget the options would be a good start. 

then unless you have a few 100 mil capital going down the path of all you have listed above is also a waste of time. So I guess forget 90% of that as well. What you need from the gumph you have listed below is a broad knowledge of the market and trading as you seem to have less of an idea than you realise. Do you understand what position sizing is for example?



FIGJAM said:


> As for the second point, i'll take that on board, risk management with covered calls I believe you're talking about put options which you are correct I didn't purchase any to try and protect myself if things went bad, mind you with how badly it went I don't think they would have helped. With that being said, I was under the impression that the charts and following the stock helps one make a decision as to whether they should go into the market or not? which when I look back at the time I purchased I brought right at the end of a head and shoulders (not sure if this is actual terminology or just something that Nick came up with) and as per most instances following this the stock dropped. The entire market dropped at the sametime, but yeah.




No dude I'm not talking about put options! See above comments.


----------



## Gringotts Bank (23 October 2012)

TH, I was just trying to remember your position sizing method.  Is this right?  You start very small and increase bet size exponentially with each winning trade, and vice versa if you're losing.  And you stop if your daily limit is reached.   Correct?


----------



## Trembling Hand (23 October 2012)

Gringotts Bank said:


> TH, I was just trying to remember your position sizing method.  Is this right?  You start very small and increase bet size exponentially with each winning trade, and vice versa if you're losing.  And you stop if your daily limit is reached.   Correct?




no.


----------



## Gringotts Bank (23 October 2012)

Trembling Hand said:


> no.




Well anyway, that method is a good one, IMO.  Inverse Martingale style.


----------



## Trembling Hand (23 October 2012)

Gringotts Bank said:


> Well anyway, that method is a good one, IMO.  Inverse Martingale style.




But there is no way a stock trader can use that method without exposing themselves to huge portfolio heat and/or blowing position sizing. Its only a intraday strategy on a very liquid and hedge-ble market.


----------



## Gringotts Bank (23 October 2012)

Trembling Hand said:


> But there is no way a stock trader can use that method without exposing themselves to huge portfolio heat and/or blowing position sizing. Its only a intraday strategy on a very liquid and hedge-ble market.




Yep, so to adapt that to stock trading, one might do something like this?

-- weak market, run of losers lately, position size = $5000
-- bouyant market, run of winners lately, position size = $20000
-- bouyant market, run of losers lately, position size = $7000

or something along those lines.  Like playing cards.  When the deck is stacked, you bet more ferociously.  That's all my position sizing has ever amounted to.  I once tried reading Van Tharp and thought "this guy is over complicating things".


----------



## FIGJAM (24 October 2012)

Julia said:


> Do you have a particular reason for buying bank shares on a weekly basis, apparently regardless of the price at the time?




this is something that was recommend to me as a safe long term investment. I guess it may be a little silly to go in just thinking about the bank and should broaden my horizons so to speak.



Gringotts Bank said:


> The other thing I found useful is trend lines.  If you're a visual sort of person, finding where the lines are best drawn is relatively easy, and can provide a sufficient edge just on its own.




I have looked at trend lines in the past with Sharelord but only at a very basic level and always on past trends, no real current positions. 



Joules MM1 said:


> the first reply to your post is by far the one you need to concentrate on....prove you fully understand the suggestions made to in that post before you venture into any other suggestion.....if you get that part right, ragardless of what you do afterwards then that initial knowledge is going to prove to over and over the best first to have and practise.....break down exactly what risk is, do not be vague about it, make a workable plan.....after that you can go in any direction...doesnt mean a gurantee of success, at least you'll stay in the game longer to get the experience you need......
> 
> btw there's no such thing as more serious




Thanks mate, agree about the more serious. What i really meant was its time to get serious and take control. Risk management is something that I need to look into and start to be more aware of when it comes time to trade. Long road ahead of me, thankfully I am relatively young



Trembling Hand said:


> Forget the options would be a good start.
> 
> then unless you have a few 100 mil capital going down the path of all you have listed above is also a waste of time. So I guess forget 90% of that as well. What you need from the gumph you have listed below is a broad knowledge of the market and trading as you seem to have less of an idea than you realise. Do you understand what position sizing is for example?




I would say that i have very little of an idea when it comes to trading. I have only ever done covered calls in the past. That is what I have some (no matter how little) experience in.

Position sizing is something that (until you mentioned and i Googled.....) that I had no idea about however the first thing i read on it, I can see its importance and will need to get on top of it sooner rather then later.



Gringotts Bank said:


> TH, I was just trying to remember your position sizing method.  Is this right?  You start very small and increase bet size exponentially with each winning trade, and vice versa if you're losing.  And you stop if your daily limit is reached.   Correct?




That was something that Nick Halik recommends. So you dont over expose yourself and loose too much whilst still learning and getting used to making trades.

Thanks,


----------



## Julia (24 October 2012)

FIGJAM said:


> this is something that was recommend to me as a safe long term investment. I guess it may be a little silly to go in just thinking about the bank and should broaden my horizons so to speak.



I wasn't so much questioning the choice of the bank or banks in general, as I was the strategy, usually known as 'dollar cost averaging' where you buy a few shares regularly, irrespective of the price at which they're trading at the time.

The idea is apparently that your average buy price is going to be OK.  It doesn't make much sense to me.
If you're buying many small lots your brokerage will eat into it every time, and - without a more structured entry - you could be buying in when prices are higher rather than lower.

Might be more useful to observe a chart showing you how the price has varied, learn a little about support and resistance, and then determine your buy in price, placing an order accordingly.  

Btw, figjam, your polite responses to suggestions are appreciated.  Often people ask questions, other members offer thoughtful responses, and there's no acknowledgement.


----------



## FIGJAM (24 October 2012)

Julia said:


> I wasn't so much questioning the choice of the bank or banks in general, as I was the strategy, usually known as 'dollar cost averaging' where you buy a few shares regularly, irrespective of the price at which they're trading at the time.
> 
> The idea is apparently that your average buy price is going to be OK.  It doesn't make much sense to me.
> If you're buying many small lots your brokerage will eat into it every time, and - without a more structured entry - you could be buying in when prices are higher rather than lower.
> ...




Thanks Julia, the idea was put to me as advice for a parent to do for their child. If they buy 1 blue chip share a week until the child is 21 then they will have put them in a pretty good position. Obviously hoping that as you have mentioned the cost is averaged over the period of time and the growth over 21 years has made it worth while.

I haven't quit figured out how I'll approach the purchase yet, but I would say i'll purchase in bulk to save in the brokerage fees as you have pointed out.

Also, I am a firm believer that it isnt hard to have some manners and common courtesy.

Thanks again,


----------



## FIGJAM (24 October 2012)

Also, whilst I am here, has anyone read the blog Stock Trading To Go? After reading a few of the articles I really like it and hope that the information is decent. Wondering if anyone else has come across it?

website is http://www.stocktradingtogo.com/

Cheers,
Mitch


----------



## Gringotts Bank (24 October 2012)

FIGJAM said:


> Thanks Julia, the idea was put to me as advice for a parent to do for their child. If they buy 1 blue chip share a week until the child is 21 then they will have put them in a pretty good position. Obviously hoping that as you have mentioned the cost is averaged over the period of time and the growth over 21 years has made it worth while.
> 
> I haven't quit figured out how I'll approach the purchase yet, but I would say i'll purchase in bulk to save in the brokerage fees as you have pointed out.
> 
> ...




As a dollar cost averaging method, you could just buy every time the standard stochastics cross up from below 50.  That would ensure you catch most of the decent dips with hardly any work at all, and should achieve a much better ave price than buying once a week/month.  Do this as long as the SP is above the 200EMA, and pause whenever the SP drops below.

Green arrows indicate where you'd be buying.


----------



## Trembling Hand (24 October 2012)

Gringotts Bank said:


> Yep, so to adapt that to stock trading, one might do something like this?
> 
> -- weak market, run of losers lately, position size = $5000
> -- bouyant market, run of winners lately, position size = $20000
> ...




No you don't seem to get the difference between intraday trading a 10-50 mil per day futs and EOD. Surprisely


----------



## FIGJAM (24 October 2012)

Gringotts Bank said:


> As a dollar cost averaging method, you could just buy every time the standard stochastics cross up from below 50.  That would ensure you catch most of the decent dips with hardly any work at all, and should achieve a much better ave price than buying once a week/month.  Do this as long as the SP is above the 200EMA, and pause whenever the SP drops below.
> 
> Green arrows indicate where you'd be buying.




I see, so you buy on the downward trend to help save on stock costs. Then when it moves closer to the average and peaks it is worth more. Giving a greater profit % (if you sell at those times).

To understand that better I come back to needing to know how to read and set charts to suit.


----------



## Gringotts Bank (24 October 2012)

FIGJAM said:


> I see, so you buy on the downward trend to help save on stock costs. Then when it moves closer to the average and peaks it is worth more. Giving a greater profit % (if you sell at those times).
> 
> To understand that better I come back to needing to know how to read and set charts to suit.




This method would only be for the regular accumulation of small amounts of stock, then selling the whole lot 10+ years later.  If you want to trade in and out, the stochastics won't make you profitable.  

Any charting software will have stochastic indicators, even the free ones your broker offers.  It consists of two lines, K% and D%.  When they both go below a value of (say) 50, wait for the K line to cross upwards over the D line.
That's all there is to it.  Buy at that point.  Just an example.  There would be more profitable ways of doing it.


----------



## FIGJAM (25 October 2012)

Gringotts Bank said:


> This method would only be for the regular accumulation of small amounts of stock, then selling the whole lot 10+ years later.  If you want to trade in and out, the stochastics won't make you profitable.
> 
> Any charting software will have stochastic indicators, even the free ones your broker offers.  It consists of two lines, K% and D%.  When they both go below a value of (say) 50, wait for the K line to cross upwards over the D line.
> That's all there is to it.  Buy at that point.  Just an example.  There would be more profitable ways of doing it.




Awesome, thanks for that mate, I will be looking into it in the very near future.


----------



## timeless (11 January 2013)

hangseng said:


> Oh and I don't sleep much so I had plenty of time to put this info together




Hi Hangseng
I do not sleep much but for a different reason. 
I would love to be where you are.
Yours is a great article and something I was looking for: that is there is a chance of success in stock market for a determined individual who is prepared to learn and apply strict rules in business.
I have determination and some skills that will be useful to achieve this goal but no experience in markets and trading.
As you can see from my screen name I have not much time to achieve my goals. Starting  from scratch after divorce and little supper balance I have no chance to age gracefully unless I do something.
Thanks so much for encouragement and sharing your valuable resources and experience.
Cheers


----------



## mikepowers (5 December 2013)

hangseng said:


> I am humbled, my first involvement in a sticky
> 
> Thank for all of the kind words.




I am still learning whenever i read threads,
I am new to this forum and came across with this thread,
As i read through pages i can't stop thinking what are the reasons 
why am i  on the Forex world https://www.aussiestockforums.com/forums/images/smilies/banghead.gif

Thanks for reviving my passion on trading  
https://www.aussiestockforums.com/forums/images/smilies/smile.gif


----------



## Benjaz (1 September 2015)

I am currently a high school student and I have found an interest in the stock market and I was hoping any elite traders out there could give me some pointers in which direction I should start in. Help like which books or which websites I should use to get me started would be much appreciated.

Thankyou,
Benjaz


----------



## Joe Blow (2 September 2015)

Hi Benjaz, welcome to ASF! 

There are a lot of threads in the forums that cover these sorts of topics, mostly in *Trading/Investing Resources* and *Beginner's Lounge*. Here are a couple to start you off:

https://www.aussiestockforums.com/forums/showthread.php?t=11507
https://www.aussiestockforums.com/forums/showthread.php?t=14370

The key to tracking down threads of interest is to use the search function and enter keywords such as "books" and "websites". There are more than 22,000 threads here at ASF, many of them filled with knowledge and useful information. Your job is to track them down and read them.

Best of luck!


----------



## Jonbra (14 February 2016)

Hello, it is good you have started in the stock market, great going. Today I just wanted to say one thing ARDIDEN LTD a minerals exploration company is about to go through the roof! Their share code is ADV. I've done my research and it is going to rise. I have already made 100% ruse on investment. Be quick before its too late, you will regret you didn't buy Ardiden LTD.


----------

