My 1st day trading on the ASX!

[wilto]

Hi there, a little bit of info about myself 1st. I have had no desire to enter the share market at any time before now. With around 13yrs left to the daily grind, I am going to have a go at steering a portion my super myself. around 15% of it any way, the remaing total I have placed 30% in direct property, 30% in Australian fixed interest and left 40% in their balanced option, for now any way. I can switch these investments weekly.
Bought these yesterday 01/10/12.
BHP 200 @ 33.12, LLC 500 @ 7.79, LYC 4000 @ 0.81, ORG 500 @ 11.38, PRY 1000 @ 3.64, SUN 500 @ 9.20ishares IKO 200 @ 57.10

And today 02/10/12
AIO 1000 @ 4.39

All doing well 1st day in exceopt for PRY down 1c.

I have no interest in any of these shares other than making a "profit", how much time will tell......or not!

Now all I have to do is know when to sell, maybe now is a good time, lol

 

[wilto]

Screenshot

Here is a screen shot, plenty of green there. For now!

 

[Mr Wilson]

Wow, Well done my friend.

I didn't add up how much you invested but it seemed to be a bit,
What made you want to diversify your super portfolio? also why did you pick the shares that you did?

As for selling time's and making profit it's entirely up to and your strategy.
Have you done much research into the company's you brought into, this info could aid in your strategy.

I currently have not sold any shares that I own, "There all green but it doesn't meant I didn't loose money".

 

[wilto]

Wow, Well done my friend.

I didn't add up how much you invested but it seemed to be a bit,
What made you want to diversify your super portfolio? also why did you pick the shares that you did?

As for selling time's and making profit it's entirely up to and your strategy.
Have you done much research into the company's you brought into, this info could aid in your strategy.

I currently have not sold any shares that I own, "There all green but it doesn't meant I didn't loose money".

I am up a few hundred, after 1 day, on about $55000 investment. All the shares I bought yesterday and today are up from my original purchase. My super fund, research daily and post the data that also includes a list of some shares with a note, buy, hold or sell next to them. I chose a couple of these, and chose a couple myself. I don't intend to grow this portion of my super. As profits are/if realised, i will transfer the cash to a more stable investment in the fund. And reinvest the original amount. That's the plan any way.

There are a couple more I bought that are not in my original post. All the ones in the above screenshot.

 

[ParleVouFrancois]

QAN... not sure if serious

 

[Gringotts Bank]

Well done on a good first day.

About 2 weeks ago your thread would have been torn to shreds by a bunch of guys who would be saying:

-- spend 10,000 hours on learning this technique, then come and talk to me
-- you don't even know your entry/exit criteria, therefore you will lose.
-- why now?
-- what is your method?
-- what do you know about advanced system design?
-- show me 10 years of backtested and forward run trades, with and equity curve, std deviation, CAR/MDD, Sharpe ratio, etc etc etc

But that is just one way of doing business.

The other way is to do it the way you're doing it.

Strangely, the more sophisticated approach is rarely more profitable.

Hedge funds have access to Harvard PhDs in system design, statistics, maths, and yet these geekazoids barely manage to beat the market in most cases. Of course there are some who do (eg. the HFT guys).

Do your thing in whichever way you feel comfortable.

The only criterion is *how consistently are you making money over the long term*. A geekazoid will quote you some BS stat that he thinks is important, but the only important thing is whether you win over the long term.

So... yeh... a good start. Keep it up.

 

[McLovin]

Hmm...I'm a little confused by this thread. The market was up 1% today so it's not surprising your portfolio was too. Are you actually trading this or buying for medium/long term?

 

[Klogg]

Is there any reason you used all $55000 worth of capital in a single day?

 

[prawn_86]

Hi Wilto,

Welcome to ASF, there are plenty of resources here for beginners.

As Mclovin has said, the market was up today, so it is likely that the majority of stocks would have finished up.

Some good questions i think for beginners are:
1. What is your strategy? Long term, swing trade, buy and hold? etc Being in a SMSF i assume there are regulations around this?
2. Why did you buy the stocks you did?
3. What is your exit criteria? Do you have a profit target or a stop loss?

Many people make money in the markets, the hard part is not giving it all back during the bad times.

Good luck!

 

[wilto]

Not an smsf, but a regular super fund that you can transfer a portion of your super to a transaction account, and purchase shares, etf or term deposits. I don't have any long term plan, only to not do my **** overnight. so this could be over in a month or, I'll keep going for a bit longer.

 

[So_Cynical]

Welcome to ASF wilto

The markets up a bit and so is your portfolio... that's roughly how it works.

For the record you paid way to much for PRY and SUN, also not usually a good idea to deploy all your capital in one day...as you will find out.

Good Luck

 

[burglar]

... so this could be over in a month or, ...

These companies will not fall over inside one month!

I look forward to your next monthly update.

 

[nulla nulla]

........ I don't have any long term plan, only to not do my **** overnight. so this could be over in a month or, I'll keep going for a bit longer.

(my bolds) Not having a long term plan/strategy is a worry. Sounds like you are investing for growth rather than trading. Regardless of whether you are trading, short term investing or long term investing, just remember that it will not happen overnight. Good luck.

 

[Mr Wilson]

Not having a long term plan/strategy is a worry. Sounds like you are investing for growth rather than trading. Regardless of whether you are trading, short term investing or long term investing, just remember that it will not happen overnight. Good luck.

Thank you for the insight nulla nulla,

I think I'll have to take this advice to the bank and thinking over my own investment strategy.
What kind of time frame are we talking about when we say short term as a posed to long term?

At the moment I am also invested for the growth, due to my part of lower capital as a foundation.

Have a Great day everyone
Regards Mr wilson

 

[wilto]

OK. Went to bed last night, woke up with an exit strategy.
1. I am prepared to lose 10% of the original $55000 "investment", after that it's nitey nites. All stock gets sold.
2. I am prepared to lose 20% of any one stock, after that it gets the flick.
3. If I can make greater tha 8% p/a on my holding I may continue with this venture. If not, All stock gets sold.

 

[McLovin]

And what was the basis for buying those particular shares?

 

[white_goodman]

OK. Went to bed last night, woke up with an exit strategy.
1. I am prepared to lose 10% of the original $55000 "investment", after that it's nitey nites. All stock gets sold.
2. I am prepared to lose 20% of any one stock, after that it gets the flick.
3. If I can make greater tha 8% p/a on my holding I may continue with this venture. If not, All stock gets sold.

good thing you have no directional risk in the portfolio..

 

[Gringotts Bank]

OK. Went to bed last night, woke up with an exit strategy.
1. I am prepared to lose 10% of the original $55000 "investment", after that it's nitey nites. All stock gets sold.
2. I am prepared to lose 20% of any one stock, after that it gets the flick.
3. If I can make greater tha 8% p/a on my holding I may continue with this venture. If not, All stock gets sold.

Sounds reasonable for a long term investor. The hardest thing for most investors/traders is to take a loss when things aren't working, and to hold onto your winners. Most people will bank their winning trades too early (desperate to grab hold of the cash as soon as it appears) and hold the losers/laggards too long (hoping for a recovery that rarely happens).

As I said, I use some stats and system design myself (because I find it fun more than anything else), but I am continually struck by people I meet who have a very simple approach and who do well out of the market. It is possible for example, to read the Fin Review once a week, get some ideas, place your trades with a full service broker for $70(!) and come out way ahead of the curve over the long term.

There's only one meaningful stat: Are you consistently making money? Day one, you're up, day two you're probably up also. So far so good.

There are some guys who know their "stochastic alpha, beta, rho's" and also make money... like say skc for example. But that's not the only way. My main reason for posting is to say - you're winning now, so don't get distracted or start changing things because someone thinks you're not doing it right.

 

[redcorvetteguy]

OK. Went to bed last night, woke up with an exit strategy.
1. I am prepared to lose 10% of the original $55000 "investment", after that it's nitey nites. All stock gets sold.
2. I am prepared to lose 20% of any one stock, after that it gets the flick.
3. If I can make greater tha 8% p/a on my holding I may continue with this venture. If not, All stock gets sold.

Hi Wilto, welcome to ASF. i was having a good read so thought i would put my 2cents worth in.
If your shares drop 10-20% thats the time to be buying more not selling. I like dollar cost averaging with my shares as long as he company has good figures and potential to perform in the future.
Its very hard to be buying more shares when your portfolio is crumbling but should pay off long term.
cheers

 

[Julia]

Hi Wilto, welcome to ASF. i was having a good read so thought i would put my 2cents worth in.
If your shares drop 10-20% thats the time to be buying more not selling. I like dollar cost averaging with my shares as long as he company has good figures and potential to perform in the future.
Its very hard to be buying more shares when your portfolio is crumbling but should pay off long term.
cheers

Investors in once market darling ABC Learning and a few others, now defunct, who followed this advice didn't do too well.