My first ASX purchase

[bfhoon]

G'Day

Had my first trade today I didnt understand everything 100% but I bought 2000 shares in PNV Polynovo. I waited until it dropped late afternoon but what I didnt understand is I went in at around $1.60 per share and somehow ended up getting them for $1.57 how does that work?

I did a fair bit of research on the company and out of my other 10 picks on my list this seemed to be the one that ticks most of the good boxes plus I noticed the directors have been buying up a fair bit in it also which is interesting. Anyways glad to have my first trade under my belt still got heaps to learn.

Cheers

 

[rederob]

G'Day

Had my first trade today I didnt understand everything 100% but I bought 2000 shares in PNV Polynovo. I waited until it dropped late afternoon but what I didnt understand is I went in at around $1.60 per share and somehow ended up getting them for $1.57 how does that work?

I did a fair bit of research on the company and out of my other 10 picks on my list this seemed to be the one that ticks most of the good boxes plus I noticed the directors have been buying up a fair bit in it also which is interesting. Anyways glad to have my first trade under my belt still got heaps to learn.

Cheers

Well done.
Looks like there were only sellers when your bid went in so you had first dibs at the lower price.
This stock was going gangbusters before COVID-19 halved its price
Given that it's not at all impacted by it (not to date anyway) I reckon you have a bargain as an investment.
Looks like another successful CSIRO derivative that's been commercialised.

 

[bfhoon]

Yes I’ve been doing a lot of research and I know nothing is full proof but I can’t really see them Declining in the future. I would have liked to punt more on it but I’m glad I’ve now got my feet wet. I’m considering some others but might relax a bit and see what the market continues to do over the coming weeks/months.

 

[rederob]

Yes I’ve been doing a lot of research and I know nothing is full proof but I can’t really see them Declining in the future. I would have liked to punt more on it but I’m glad I’ve now got my feet wet. I’m considering some others but might relax a bit and see what the market continues to do over the coming weeks/months.

They not only have a commercial product selling well, they have a pipeline of patents, additional accreditations, and product trials in train.
And, as you noted, their directors have been accumulating so lots of promising signs.
The really smart move was buying into a company that can continue to grow in an otherwise mostly contracting marketplace.

 

[bfhoon]

Thanks wow I didn’t know they have patents in the pipeline so basically this will stop any competition from making a similar product. Pretty interesting the patch they make that absorbs into the skin to help the body with the healing process seems like it could possibly be a game changer. There are so many companies out there though I wish I had more money to play with but I guess we all have to start somewhere

 

[frugal.rock]

@tinhat would be proud of you!

Good luck with the investment.
You have given it due diligence, the rest is up to the market.

Can I ask, what is your exit strategy?
Wait and see for 3 years?

 

[sptrawler]

G'Day

Had my first trade today I didnt understand everything 100% but I bought 2000 shares in PNV Polynovo. I waited until it dropped late afternoon but what I didnt understand is I went in at around $1.60 per share and somehow ended up getting them for $1.57 how does that work?

I did a fair bit of research on the company and out of my other 10 picks on my list this seemed to be the one that ticks most of the good boxes plus I noticed the directors have been buying up a fair bit in it also which is interesting. Anyways glad to have my first trade under my belt still got heaps to learn.

Cheers

Best of luck with your first trade, I haven't followed PNV, so can't comment on your selection.
But having a quick look at the chart, you have already done a lot better than those who bought two months ago.
So if they stay in business, there is no reason you wont make money, enjoy the journey.
One thing to remember with investing, IMO it is like a journey and it wont start untill the first step is taken.
Well you've done that.

 

[bfhoon]

@tinhat would be proud of you!

Good luck with the investment.
You have given it due diligence, the rest is up to the market.

Can I ask, what is your exit strategy?
Wait and see for 3 years?

Excellent question I’m still fine tuning my exit strategy. I think I’m more of a hold long term type of person but I wouldn’t mind trading off early if I can make a profit. I think I’d rather hold for some time and take a good profit rather than sell for a small Measly profit. This was going to be my next part of learning. Any good guides or videos on the subject. I wouldn’t mind being a day trader but it’s not possible my day job would get in the way and I’m nowhere near experienced enough and probably not disciplined enough.

 

[gartley]

Yes I’ve been doing a lot of research and I know nothing is full proof but I can’t really see them Declining in the future.

Congratulations on your purchase. Tinhat is correct, need to have a plan (exit strategy) in place irrespective of market conditions as there are no certainties in this business no matter how good the fundementals look.

 

[frugal.rock]

Don't forget the exit plan is theoretically half the plan before the trade or investment.
After purchase, the exit plan gains 100% importance.
To this end, I will generally have a sales order in at some magical price, just in case I miss a show.

 

[bfhoon]

Don't forget the exit plan is theoretically half the plan before the trade or investment.
After purchase, the exit plan gains 100% importance.
To this end, I will generally have a sales order in at some magical price, just in case I miss a show.

So I use self wealth as my framing application am I able to set it up at a sell price I’d be happy to take and on any given day if the trading price hits that price they will auto sell.? Sorry I’m such a noob.

also as the price goes up can I keep selling and reinvesting all the money back in to buy more shares in the same company. I’m guessing this would be a thing or would have a name

 

[frugal.rock]

Sounds like you need to know what a "long trade" is to start, as this is probably what your first trade is.

I imagine that the sell button is near the buy button
If interested in selling, it's just like buying, you can set your price.

Honestly wouldn't be in a rush to be buying though, IMO the cat has just hit a ledge on the way down...

F.Rock

 

[bfhoon]

So yesterday anyway this stocked jumped up 10% from the day before I nearly could have sold and made a $300 odd dollar profit. I know this is a thing and people do day trades all the time just wondering how many people out of interest would have done that sold a day later in this market and taken the $300 profit? What are the tax implications also do they just add that $300 to my gross salary and I get taxed on it just like normal income from a job?

 

[So_Cynical]

So yesterday anyway this stocked jumped up 10% from the day before I nearly could have sold and made a $300 odd dollar profit. I know this is a thing and people do day trades all the time just wondering how many people out of interest would have done that sold a day later in this market and taken the $300 profit?

300 bucks for just one day is super tempting because its 300 bucks in a day and nothing else needs to be considered.

 

[bfhoon]

Thats what I thought but im new to this. Would it be worth selling and rebuying in the same company. Im thinking its not worth it that much as I lose 9.95 when i sell and 9.95 when i buy again but potentially i guess it would still give me $280 worth of extra shares. Its interesting obviously it was just luck as the price did go back down today by 5% still it gives me a tad of confidence. I really wish I could do it everyday is it possible do people do it? I know my problem would be when i get a big gain id be confident to go harder i've got no discipline really and I have an attitude of big gains as small gains just seem not so worth it.

 

[willoneau]

Hi
decide which type of trader / investor you are going to be. Then formulate a complete system to suite that. The high volatility at the moment can make the gains look very tempting but remember they can go down even faster.

 

[willoneau]

Most long term traders are sitting on the fence with cash at the moment, but I might be wrong about that.

 

[willoneau]

A person with out an exit strategy is just a gambler.

 

[bfhoon]

Thanks I'm still trying to learn as I go as a beginner i don't think I could be a day trader but then again is long term even worth it. I know im pretty uneducated at the moment but I needed to take this first steps to prove to myself its doable. I'm one that learns best via real life lessons so hopefully this will be a positive experience if not I guarantee I will learn from it especially if I lose my money its a risk im willing to take though as I know I will learn from it.

 

[bfhoon]

A person with out an exit strategy is just a gambler.

Yes I agree I have actually been thinking the same thing the last day or so like I said im here for help and education just dipped my feet in the water. I need to do some research on exit strategies. I guess I will youtube stock market exit strategies and see what I can find.

Any one willing to offer some links for education on this.