Beginners - Introduce yourselves!

[briggzy_03]

Hi everyone,

I've only recently found ASF but have been really interested in getting into the share market once I had the money to do so and while I'm still studying (only 21) I am still keen to have a go albeit in small amounts at trading.

I'd classify myself as the definition of a beginner and am nervous about my first trade. I'm considering something reasonably safe such as RIO or BHP that I'd keep for couple of months before selling.

In general I'm just really interested to learn the ropes so in the future when I begin earning a little more that I'll be comfortable enough to trade more substantially with out the nerves and overwhelming feeling that I currently have .

Cheers,

Josh

 

[explod]

Hi everyone,

I've only recently found ASF but have been really interested in getting into the share market once I had the money to do so and while I'm still studying (only 21) I am still keen to have a go albeit in small amounts at trading.

I'd classify myself as the definition of a beginner and am nervous about my first trade. I'm considering something reasonably safe such as RIO or BHP that I'd keep for couple of months before selling.

In general I'm just really interested to learn the ropes so in the future when I begin earning a little more that I'll be comfortable enough to trade more substantially with out the nerves and overwhelming feeling that I currently have .

Cheers,

Josh

Welcome Josh, now BHP and RIO are the big ones but being so they can be very effected by what is happening in World economics. Unless you are prepared to see them drop a lot at times as well as rise then you should be carefull. Having been in the markets trading for a long time I find that number one I need to know which way the big markets are going on a day to day basis. I then look at the different sectors of the market, be that energy, the banks of commodities to name just some.

A good thread to look up and read through for at least the last year or so is the "imminent and servere market correction thread" I would read a book on Warren Buffet, one on fundamentals and whatever you can find on technical analysis and charting.

I would not invest till I had a good idea of at least that.

 

[briggzy_03]

Welcome Josh, now BHP and RIO are the big ones but being so they can be very effected by what is happening in World economics. Unless you are prepared to see them drop a lot at times as well as rise then you should be carefull. Having been in the markets trading for a long time I find that number one I need to know which way the big markets are going on a day to day basis. I then look at the different sectors of the market, be that energy, the banks of commodities to name just some.

A good thread to look up and read through for at least the last year or so is the "imminent and servere market correction thread" I would read a book on Warren Buffet, one on fundamentals and whatever you can find on technical analysis and charting.

I would not invest till I had a good idea of at least that.

Appreciate the advice explod . Because of personal interest I read a fair bit into the mining sector and I've practised a lot of hypothetical trades so far, mostly BHP and RIO but still feel very overwhelmed. I find it hard to read the market and I guess such a gift would take a lot of learning and practice.. Even if my first trade involves a loss, I understand that is part of the lesson. In regards to analysts recommending buying XYZ is it best to take what they say with grain of salt?

Is there a particular Warren Buffet book you recommend?

 

[explod]

Appreciate the advice explod . Because of personal interest I read a fair bit into the mining sector and I've practised a lot of hypothetical trades so far, mostly BHP and RIO but still feel very overwhelmed. I find it hard to read the market and I guess such a gift would take a lot of learning and practice.. Even if my first trade involves a loss, I understand that is part of the lesson. In regards to analysts recommending buying XYZ is it best to take what they say with grain of salt?

Is there a particular Warren Buffet book you recommend?

Some analysts can have their place. It is well worth looking at a number of them for practice paper trades, you will soon sort the grain from the charf. It is often said, that when some analysts say to buy it is often time to sell. However some of the technical analysts who accompany an article with charts are worth looking at as they will asist your learing of chart reading. For no cost you can download a program which I use exclusively called Bigcharts, find via Google and easy for you to set up for yourself. Reference to charts against what is being discussed on the forum threads will speed you knowledge a great deal.

Warren Buffet. there are so many books on this fellow, if you are near a large library they should have some, leaf through the book shops. However I would be surprised if you could not buy one through the book links of Aussie Stock Forums, and any support to the advertisers on ASF supports this site.

 

[Julia]

Briggzy, welcome. You say your intention is to buy BHP or RIO and just hold for a couple of months. That seems a reasonable strategy.
However, rather than setting a pre-determined time frame, if it were me I'd be deciding what price I was prepared to buy at, with a pre-determined exit price, i.e. an intended profit. This might happen in a week, or it might not happen in your two month period. Depends on how much profit you are looking for.

You are obviously fairly au fait with the fundamentals, so I don't see that reading Warren Buffet type material is going to be at all helpful with these two stocks.

Instead I'd suggest you outlay about $30 and buy (usually available from the ASF bookshop) "Secrets of Profiting in Bull and Bear Markets" by Stan Weinstein.
Explod has explained how you can access charts. However, unless you have some understanding of what to look for in a chart, just seeing them won't be hugely helpful to you.

Weinstein explains in very simple language how to use charts to help you attain the outcome you're looking for. A few days of reading will equip you with enough understanding to do what you are wanting to do.

Both the ASX website and E-trade have quite reasonable very basic education sections on charting while you're waiting for the book to arrive.
Probably other brokers too.

Good luck.

 

[briggzy_03]

Briggzy, welcome. You say your intention is to buy BHP or RIO and just hold for a couple of months. That seems a reasonable strategy.
However, rather than setting a pre-determined time frame, if it were me I'd be deciding what price I was prepared to buy at, with a pre-determined exit price, i.e. an intended profit. This might happen in a week, or it might not happen in your two month period. Depends on how much profit you are looking for.

You are obviously fairly au fait with the fundamentals, so I don't see that reading Warren Buffet type material is going to be at all helpful with these two stocks.

Instead I'd suggest you outlay about $30 and buy (usually available from the ASF bookshop) "Secrets of Profiting in Bull and Bear Markets" by Stan Weinstein.
Explod has explained how you can access charts. However, unless you have some understanding of what to look for in a chart, just seeing them won't be hugely helpful to you.

Weinstein explains in very simple language how to use charts to help you attain the outcome you're looking for. A few days of reading will equip you with enough understanding to do what you are wanting to do.

Both the ASX website and E-trade have quite reasonable very basic education sections on charting while you're waiting for the book to arrive.
Probably other brokers too.

Good luck.

Thanks Julia!

In response to your suggestion I think I'm going to do my first trade in RIO, it's hovering around the $72 mark and was thinking if it dropped under the 70 mark that I would invest. I'm using E*trade so I figured I need about a $66 (approx. 2.5%) gain to break even after brokerage fees. I'd be happy with that for a first trade, the money I'm using was just sitting there gaining interest before I go away in February. Is that a reasonable strategy for a first timer :?

I know very little in regards to reading charts, I think... so thank you for the book suggestion, it sounds like something I should read first for a basic understanding before I go into more detailed literature i.e. buffet.

Thanks for the warm welcome and help guys, I really appreciate it and it honestly is calming. I love jumping into things both feet first but the initial learning curve is overwhelming to say the least.

I shouldn't clutter up this thread, I'm looking through the beginners area but any good thread links for a newbie would be greatly appreciated .

 

[trader222681]

Hello Everybody,

Hey, just got this thing going... now to test to see if I can make a post...

Just getting going with some aussie stocks atm, but I'm interested in having a crack at options.

Cheers

"Successful people do what unsuccessful people don't want to do"

 

[Blatchskree]

Hi Everyone,

I am a 30 year old, IT support worker. I have decided that i want to get into stocks and investment, as a career as i need to do something else. Am looking for Education in the stockmarket and just somewhere to get started. Am intereseted in options, CFD's, forex, futures. I have attended several free seminars and not taken up the several $K offers for workshops, i won't mention any names. Besides recommending books to read, is there any specific educational courses that could help me in my quest for information

 

[nomore4s]

Hi Everyone,

I am a 30 year old, IT support worker. I have decided that i want to get into stocks and investment, as a career as i need to do something else. Am looking for Education in the stockmarket and just somewhere to get started. Am intereseted in options, CFD's, forex, futures. I have attended several free seminars and not taken up the several $K offers for workshops, i won't mention any names. Besides recommending books to read, is there any specific educational courses that could help me in my quest for information

Welcome Blatchskree,

Here is a thread on good books for beginners.

Learn to use the search function as this site has a wealth of knowledge on just about every topic mentioned and you should be able to find links to other good info in the relevant threads.

Good luck

 

[danago]

Hey.
Ive made 1 or 2 posts already, but i guess i can still introduce myself

My name is Daniel and i am 19. Currently studying engineering and finance at an Australian university, with 4-5 years to go.

I have always been interested in the stock market, but have only just recently began to take a serious look into it. Thanks to the recommendations i have recieved in a thread i made, i am currently reading The Intelligent Investor by Benjamin Graham.

Like i mentioned above, i am still a student so i dont exactly have large amounts of funds to invest, but i feel that i've been fairly conservative with my money over the years, and i do have a job that pays quite well compared to others without any formal qualification beyond highshcool graduation. All up, i have about $20-25k that im willing to invest -- this will leave me with plenty left over in a cash account to spend as i desire : I would also be more than willing to add to my investment portfolio as i make more money over the years, with the ultimate short term goal being to create enough growth to pay for my university fees in 5 years, hopefully with a net return that makes it worthwhile me not paying my fees upfront (which would give me a 20% discount)...I'll aim for the millions once the tuition is payed off

I look forward to being a member here for the long term future and soaking up the advice given by the more experienced members.

Happy trading,
Daniel.

 

[akkopower]

Started trading in mid august, come from a background making a living playing online poker and studying post grad maths (modelling alumina precip, not finance).

Been playing on comsec so far up 2% whilst having paid over $1800 in brokerage fees. Higher rake there than on pokerstars.

hopefully see u in the forum somewhere

 

[tollbridge]

Hello Forum,
I'm 20 years old and I live on the Gold Coast (originally I was from Sydney). I have been trading ASX listed shares since I was 14 years old and I have a good general knowledge of the market. I am currently studying a Diploma of Business full-time which I will finish in 6 months at which point I would like to find a job in which I can use and build on my knowledge of the markets. Ideally I would like to be in a position to trade in the comfort of my own home full-time, but for now that is a long way down the track.

I have six months until I re-enter the workforce and I want to become as educated as I can regarding options and CFD's. I currently have a stockbroking account with Macquarie Edge which I use for ordinary share trading and I am looking to set up an account with either IG Markets or CMC Markets to trade CFD's. Because I'm young, I'm attracted to these riskier alternatives and expect to make some huge losses as well as (hopefully) big returns.

I would be very grateful for any advice or tips on how to become better prepared for entering the world of CFD trading. I am really looking forward to getting involved in this forum and contributing as much as I can.

Thanks,
Tollbridge

 

[elkas]

Looks like I do a reply to post I was not able to see a post button. My name is Linda and I am very new to investing in the stock market. Need to learn pretty quick to replace my income with passive residual income if that is possible.

 

[polandchia]

Hi

My name is Poland. Hope to learn from you guys and gals in this forum.

To our success!
Poland

 

[PilotPete]

Hi All,

I've been here for a while, just getting posting now. I've really become fascinated with the market over the past few months and currently hold stock in four companies. Two are up, two are down with an overall position of down 1.5%. The stocks are speculative with all having pending announcements that I anticipate will deliver me some profit.

The longer-term strategy is to gamble for a while in order to build a stockpile of funds to buy into more stable businesses that pay healthy dividends in order to provide an ongoing income outside of my employment.

It is an uneducated, possibly naive strategy at present and I would welcome any input but for the moment I am at the beginning of a very lengthy learning process in which I read about and observe the market movements every day.

Cheers and all the best.

 

[nunthewiser]

With the use of my higher powers and my awesome use of intuition, I reckon you would be a pilot and your names pete.

Welcome to ASF and make use of the search function for the answers to many a question.

Good luck in the markets and can i trade frequent flying points withya?

 

[Onceblue]

I've just come accross this forum while searching for software trading packages, and I realise how little I know. I've only ever picked stocks on the basis of their charts, just general direction and support levels. How do I take the leap from investor (couple of years accummulating including GFC ) to trader?

Nicky

 

[Mad Sam]

Hi, I,m just about to go live with trading mid Jan. Am interested in feedback about 'small cap investigator'.

 

[shelby]

hi all new here but looks like a good place to learn!

 

[KitKat]

Hello and A Happy and Prosperous New Year to all ASF members.
I have just joined the ASF after reading a number of well informed posts.
It's encouraging to a new trader like me to see so many active and informed traders out there. I have read several books, and hundreds of articles on trading, and have decided 2010 is the year I will actually take my first tentative steps into the share market with the aim of becoming a full time trader over the next few years.
KitKat.