Diving in the deep end...

[trainspotter]

Also I would like to know if anyone here has invested, or is investing in old classic/vintage cars?

I was doing this as an 18-21yo and it paid for the copious amounts of piss I drank during that time.

Im thinking of getting back into that kinda thing as some of the profits were huge when I think about it. Im a bit of a Holden nut and have been watching the oldies and their prices for years. I reckon there are a few bargains out there at the moment as the ass fell out of the classic market during the FC!

I wrote down a few of the buys and sells I could remember and profits averaged around 55% with some as high as 170%

Most of these were brought and sold within a couple of months, sometimes weeks. Most of the cars were old restorers so they were sold with no REG or RWC and always paid with CASH!

Just thought Id ask as the idea popped into my head!

Take the 20k you have left over and go and buy yourself a HK Monaro in sh!tty condition. Drive it for a month or two unregistered and sell it on ebay for double your money ! Sheeeeeeesh ... I wish !

 

[easylikesunday]

Take the 20k you have left over and go and buy yourself a HK Monaro in sh!tty condition. Drive it for a month or two unregistered and sell it on ebay for double your money ! Sheeeeeeesh ... I wish !

I already got one! Cant drive it though

 

[easylikesunday]

Another question..

Im watching a few "Penny stocks" as I have learnt they call them.

Anyway some of these stocks are worth less than a cent (.00X) so when they go up or down, even by .001 its around 10.00-14.20%

Im watching one that has gone up and down about 20 times in the last couple of months (.007 - .013)

My question.

Can I just set my 'BUY' at .007 and my 'SELL' at .008 and invest $5,000 which would give me 14.20% gain ($700) and just do this every day?

 

[tech/a]

Another question..

Im watching a few "Penny stocks" as I have learnt they call them.

Anyway some of these stocks are worth less than a cent (.00X) so when they go up or down, even by .001 its around 10.00-14.20%

Im watching one that has gone up and down about 20 times in the last couple of months (.007 - .013)

My question.

Can I just set my 'BUY' at .007 and my 'SELL' at .008 and invest $5,000 which would give me 14.20% gain ($700) and just do this every day?

Yes.

You'll also lose $700 if it trades at .006.
You could lose the lot if its delisted.

 

[prawn_86]

Can I just set my 'BUY' at .007 and my 'SELL' at .008 and invest $5,000 which would give me 14.20% gain ($700) and just do this every day?

Many beginners think this (I did too when i started).

If you place an order you will at the bottom to what's called the 'market depth' (search for it for other threads). This means everyone else that wants the same level and ordered before you will get filled first. Same goes for when you sell, and you can't have a buy and sll order in at the same time unless you already own some of the stock.

The other downside is for each move down you lose a high % with not much liklihood of recovery. Those stocks are worth that much for a reason. If you want to just gamble go to a casino fwiw.

Hope that makes sense.

 

[yonnie]

I trade like this full-time day in - day out.
but you better listen to tech and prawn `cos I dont like too much competition

 

[easylikesunday]

So investing $5000 into AUZ everytime it drops to .001 and selling at .002, increasing my profits 100% wouldn't be a good idea?

So basically a stock worth that much is about to go belly up?

AUZ are trading 10-20 million a day, surely these people are just doing that?

 

[nunthewiser]

I trade like this full-time day in - day out.
but you better listen to tech and prawn `cos I dont like too much competition

I dont believe you.


I also often trade penny dreadfuls from .001 to 1 cent... sometimes it may take 3 months to get a fill and sometimes after that it still does not get there because of the size of the queue.......... Sometimes i can get lucky on the auction shuffle and jump the queue but then i have to join the queue at the next level to sell them , which is often another feat on its own .

I position trade these suckers and have done for years and can still often wait months and months to move in and out of the trade


But hey if you reckon you can jump the depth queuse on both sides to daytrade them on a daily basis ,more power to ya .

 

[nunthewiser]

So investing $5000 into AUZ everytime it drops to .001 and selling at .002, increasing my profits 100% wouldn't be a good idea?

So basically a stock worth that much is about to go belly up?

AUZ are trading 10-20 million a day, surely these people are just doing that?

Heres an idea............ try it.

 

[yonnie]

you better listen to tech, prawn AND nunthewiser.........

 

[nunthewiser]

you better listen to tech, prawn AND nunthewiser.........

Yep its easier to be an internet guru than actual reality dictates bud .

Good luck with your trading when you start.

 

[Wysiwyg]

Yep its easier to be an internet guru than actual reality dictates bud .

Good luck with your trading when you start.

ROLF. :

 

[easylikesunday]

That was the whole point of my question. I didnt have any intention on throwing $5,000 into shares, well not yet anyway

I knew that if it was as simple as buy & sell then none of you guys would be sitting on a computer answering my questions... you would be swimming in a pool of coins like Scrooge McDuck.

I still don't understand the 'queue' bit. AUZ has 6.98 billion shares from what I gather. What do you have to queue for if only 20 million get traded?

 

[nunthewiser]

Queue.

Now if you join the queue on left you have to wait till those CURRENT 14 buyers have been sold into or dissapeared

then to sell you have to join the end of those 470 sellers to be bought up or dissapeared on the right.

you may get your Buy within a few weeks/days/months .but who you going to sell them to at a profit without waiting till that queue on the rights all bought out?

 

[nunthewiser]

And then we have the "AUCTION SHUFFLE"

blessit

Now that one you will have to learn for yourself as its a cunning plan at times

 

[easylikesunday]

Thanks Nunthewiser, great picture and explanation.

To access that chart of buyers and sellers do you have to hold that stock or is it free to look up somewhere?

 

[nunthewiser]

Thanks Nunthewiser, great picture and explanation.

To access that chart of buyers and sellers do you have to hold that stock or is it free to look up somewhere?

various brokers different layouts. Some services are free(basic depths etc) , other services like iress etc cost money.

pretty sure ya might find basic depths on www.asx.com.au also.....(unsure if depths or just quotes)

No you dont have to hold a stock to look at it.

 

[Wysiwyg]

Can you honestly say it is a good trading career move? The double edge sword effect?

 

[yonnie]

But hey if you reckon you can jump the depth queuse on both sides to daytrade them on a daily basis ,more power to ya .

no, I dont DAYtrade those penny stocks; I keep track of 60 stocks and I`m just in the queue like everbody else.

sometimes I get lucky like SWG last week where I bought 3 x 2 million shares on Tuesday I think and sold them the next day, both in the auction.