Getting into growth stocks, be keen to hear any other views on my choices

[Eddie_E]

Hi,

I've been trading for about 6 months now but have mainly been focusing on high yield dividend paying stocks with the occasional day trade thrown in based on a positive report. I've learnt a fair bit in this time as researching and learning has become an everyday hobby (my wife says obsession), either way sharesight says i'm up around 8% and my wife can't argue with that. Soon my term deposit matures and will get back around $50k and since i'm at least 3-5yrs away from buying a property (if I do) I want to put this money to better use on some growth shares and just leave my money there for at least 3 years and see what happens. I like the following:

Nearmap - Have a solid product and great future ahead, I feel they can expand well and achieve great growth

Appen - I know the whole world has this stock and have been following since it was $12 and never pulled the trigger due to lack of funds and a different strategy. Think it's a great company even if it feels 'expensive' at the mo.

Altium - (see appen)

Pro Medicus - Has had a great year and feel it has the potential to keep growing albeit at a more steady rate from here.

Wisetech - Great yearly results and doesn't seem to be slowing down

Outsider company

Rectifier - surely the increase of electric vehicles can only mean good things for this company

So as you can see I've mainly picked well established companies, hoping I will get better returns than an etf/lic. If anyone has any feedback before I put my money in that would be great?

Thanks

Eddie

 

[jbocker]

Good luck Eddie. I cannot comment on any of those, (not sure anyone can) might be best to take each stock and chat on its dedicated thread. If I was a new starter I would look over a few seasoned threads that talk about trading. Have a look through Dump it Here.

 

[Eddie_E]

Good luck Eddie. I cannot comment on any of those, (not sure anyone can) might be best to take each stock and chat on its dedicated thread. If I was a new starter I would look over a few seasoned threads that talk about trading. Have a look through Dump it Here.

Thanks for your response and good idea. I've used simplywallst as my primary source of knowledge, which gives a great analysis and few blogs about each one that help but of course that's very data focused and has no communtiy opinon or knowledge, hence posting my question here. I have a month until my funds clear so have plenty of time to do further research.

 

[Zaxon]

I want to put this money to better use on some growth shares and just leave my money there for at least 3 years and see what happens.

I currently own or have owned, most of the stocks you've listed. Overall, they're pretty solid companies, and are growing heavily because they're in an expansion phase. I would expect them to continue to outperform the market.

 

[jjbinks]

Hi Eddie,

Over the last 6 months markets have trended up on average. The AllOrds have been up by about 20% YTD. So 8% is potentially worse than average market performance.

You should read about risk management (plenty of great posts in this forum esp by peter2). Unless you are very clear that you will not sell until 3 year mark no matter what happens then you should consider what you will do about losing trades and when you will sell.

Also I would suggest you keep an open mind about your trading plan. Look at trading diaries posted by others including aus_trader , peter2, tech/a and pavilion103 to name a few.

Cheers
Jjbinks

 

[Eddie_E]

Hi Eddie,

Over the last 6 months markets have trended up on average. The AllOrds have been up by about 20% YTD. So 8% is potentially worse than average market performance.

You should read about risk management (plenty of great posts in this forum esp by peter2). Unless you are very clear that you will not sell until 3 year mark no matter what happens then you should consider what you will do about losing trades and when you will sell.

Also I would suggest you keep an open mind about your trading plan. Look at trading diaries posted by others including aus_trader , peter2, tech/a and pavilion103 to name a few.

Cheers
Jjbinks

Hey thanks for your response and yes of course I could have done a lot better in last 6 months based on the market but as a true beginner I have made a fair few mistakes / losses and lacked real inisght to a lot of my choices. Day trading for a month being one of my worst choices. You are also right and my growth stock choices have slightly altered already based on further research and community stats/opinions. I have 1 month before I receive my funds, so will keep an open mind and not just blow it all on 1 day