Best one sector to look at

[kifoghorn]

I am looking into playing this stock game.

Don't have much cash! So whats the best sector to look at ie banks, mining, gold, retail... etc...

 

[Lucstar]

Hi kifoghorn, my advise is to diversify your funds into stocks, from different sectors. By doing this, you will minimize the potential risk of losing big figures. Do some research on fundamental and technical analysis and use these stratergies to help you with selecting stocks. Set you a set of rules (if that is wat u want to call it) and follow them throughout your trading session. That way, you trading actions will be more based on discipline, rather than emotions. Good Luck

 

[kifoghorn]

Ok! I did want to try buying one lot, to test the water, then later add more when I got more money. I was looking at spending $500 at first.

So which sectors/industries are better or if you could pick say 4 sectors, which ones?

Also what would the minium amount all up could one start with?

I have set up a watchlist of the following;

banks - anz nab sgb
Capital Goods - wes
Food Beverage & Tobacco - fcl

and gold.

Look forward to reading your comments.

 

[jkool]

kifoghorn: Well done mate you have made the first hard step - decision to invest (in stock or elsewhere does not really matter)

As you next step I would suggest to define your strategy. Its obvious that you want to enter the game to make money (lots of it very fast if possible eh?) and therefore dont let your initial excitement make the decisions for you.

Perhaps you may want to think of a type of investor you want to become and sorts of investment you would feel comfortable with (some call it a "sleepfactor").

Based on those decisions you should then start looking for investments in appropriate sectors, funds or companies.

While all the companies you have pointed out in your post are top ASX shares and ON THE LONG TERM you would need to try really hard to lose your money in them, I would say that more importantly you need to know WHY did you pick them.
Is that because you have done sound research on those and your knowledge of the researched indicators (rather than a gut feeling) is showing you a clear BUY signal?
Or is that only a mere pick our of the blue based on their nice and shiny (and expensive) marketing campaigns?

Dont get me wrong I dont mean to put you off investing only want to point out that even share investing (even thoug it may not sometimes appear so) requires some hard yards to put in.

Good luck

 

[kifoghorn]

kifoghorn: Well done mate you have made the first hard step - decision to invest (in stock or elsewhere does not really matter)
...
Perhaps you may want to think of a type of investor you want to become and sorts of investment you would feel comfortable with (some call it a "sleepfactor").

Based on those decisions you should then start looking for investments in appropriate sectors, funds or companies.

While all the companies you have pointed out in your post are top ASX shares and ON THE LONG TERM you would need to try really hard to lose your money in them, I would say that more importantly you need to know WHY did you pick them.

My main reason for picking those was they are well know and should be fairly safe.

Is that because you have done sound research on those and your knowledge of the researched indicators (rather than a gut feeling) is showing you a clear BUY signal?
Or is that only a mere pick our of the blue based on their nice and shiny (and expensive) marketing campaigns?

On loooking thru the asx site and the charts, it kind of solidified my choices.

I plan to do a lot more watching still. I have registered for the September stock game, so at least I will get some practise in...

 

[kifoghorn]

I plan to do a lot more watching still. I have registered for the September stock game, so at least I will get some practise in...

That should be the ASX Sharemarket Game... But will have a go at your October game...

 

[RichKid]

Some of the issues covered in this thread are discussed in the thread titled '$500' Best to look at the posts there for more info. About two or three months ago there were quite a lot of tips and beginners sites referred to elswhere on this site- have a look through for lots of free info that people have referred to (eg trading plans, tip sheets, charting basics, most useful sites etc).

You could easily spend a day just browsing throught the material made available by the various people who contribute to these forums- and it wont cost a cent! (but it'll save you some if you use it properly).

RichKid

 

[Garpal Gumnut]

Anyone looking at a sectoral view of this dog of a market?

gg