Well, now, the Sam76 Retirement Fund sounds like a wonderful, never to be repeated opportunity. All it needs is a glossy prospectus, lots of promises, minimal historical success, and we'll go rushing for it.
Essentially agree with Sam (with the possible exception of his supadupa Sam76 fund).
I'd probably add Woolworths and another staple like Westfield Group.
In the event of a downturn Unitab (or any good gambling stock) will do OK as people seek to get rich without effort or planning.
If it were my $20K I'd go for $5000 each into ANZ, BHP, RIN, and MBL, obviously waiting for a dip to buy in. Others will disagree.
Essentially agree with Sam (with the possible exception of his supadupa Sam76 fund).
I'd probably add Woolworths and another staple like Westfield Group.
In the event of a downturn Unitab (or any good gambling stock) will do OK as people seek to get rich without effort or planning.
If it were my $20K I'd go for $5000 each into ANZ, BHP, RIN, and MBL, obviously waiting for a dip to buy in. Others will disagree.
Well, now, the Sam76 Retirement Fund sounds like a wonderful, never to be repeated opportunity. All it needs is a glossy prospectus, lots of promises, minimal historical success, and we'll go rushing for it.
There are a number of entry points.
Some much better timed than others.
My timing in this trade was less than perfect however I still took it due to emotion that has been shown and I expect to continue today.
But Ideally in this chart from the breakouts shown or pullbacks.
Right at this point buying in my veiw is to late as with a spike like friday it may range within the range of that spike before going again.
To get set on this either a pullback or a breakout after consolidation would be my veiw.
When I started out trading, it was a case of what do i need to learn to become a sucessful trader ?
Since then I have tried to study as much about trading as possible.
I have had my head into fibonacci / gann / elliot waves / gartley / fundamentals and so on and so on.
Try to learn basic chart patterns "even if you plan on useing help like theinsidetrader.com.au or rivkin or ???"
But the #1 thing you will need to control is the emotional attachment to your money and you can only do this through education and experience.
I would seek out help, there are a number of internet based resources out there like previously mentioned "hotcopper.com.au" also comes to mind.
$20K can vanish in the market in a heartbeat.
Go with the flow,
PS: I allways look at the long term chart "as much data as I can get, see what the general trend for that stock / sector is then find resistance / support areas then get down to the daily / intraday charts before I buy / sell anything.
And STILL have the emotional attachment thing now and then.