Hi All - about to dive in

[springhill]

Hi Rider,

If I could make one small insight, you are obviously very level headed and have a good temperament.

There are those you would have taken my 'chewed up and spat out' comment in an offensive manner and told me to go stick it where the sun don't shine.
Instead you were able to perceive my intent was to help, not to belittle you.

Congrats on what you have acheived so far, no doubt if you reflect back on your thought processes then and how they operate now, the difference would be phenomenol.

If you wish I have a copy of The Intelligent Investor you can have for nothing.
PM me if you are interested.

 

[burglar]

You've admitted yourself that you don't really know what you're doing, so why are you looking at such speculative companies? If you want to play in that end of the pool then you really need to know what you're doing. The first share I ever bought was Oilsearch in 1996. The last mining company I ever bought was Oilsearch, in 1996. There's easier money to be made, IMO, than messing around with miners.

Paul Clitheroe says stay away from penny dreadfuls unless you know what you are doing!
I say, how do you learn if you stay away?

 

[nysefloortrader]

Paul is one of the most conservative investors / Commentators out there.

He probably even warns people before he farts.

There is nothing wrong with the penny dreadfuls, as you can get one hit wonder massive rection to news, just do not play with money you can not afford to lose, and keep your investments to a minimum and remember your ratio;s 3:2:1 and u should be fine.

 

[AdamVW]

Hi Rider

Well, I was in the same position really only a month ago. Been thinking about it for a while and just wanted to get into the market. i understood that there was a bit of a market correction going on and it was likely things may be on the slide for a short while.
However, I have selected 4 shares in different sectors to wet my feet. I bought equal values in each as a bit of a test on how they perform against each other.
So, how am I going after only one month. Well, as I type, my best performer is up 16% while my worst is down 27%. I might point out that the worst performer was a speculative miner so high risk but I do not think it is still a bad share, just bad timing.
Overall I am actually in front if you do not take into consideration brokers fees so fairly happy with the situation at present.
My view going is similar to yours, I am not going to loose too much even if it all went to custard. Just learning and like anything, the best way to learn I believe is by hands on experience.
Have fun!

 

[springhill]

Hi Rider

Well, I was in the same position really only a month ago. Been thinking about it for a while and just wanted to get into the market. i understood that there was a bit of a market correction going on and it was likely things may be on the slide for a short while.
However, I have selected 4 shares in different sectors to wet my feet. I bought equal values in each as a bit of a test on how they perform against each other.
So, how am I going after only one month. Well, as I type, my best performer is up 16% while my worst is down 27%. I might point out that the worst performer was a speculative miner so high risk but I do not think it is still a bad share, just bad timing.
Overall I am actually in front if you do not take into consideration brokers fees so fairly happy with the situation at present.
My view going is similar to yours, I am not going to loose too much even if it all went to custard. Just learning and like anything, the best way to learn I believe is by hands on experience.
Have fun!

Did someone say speculative miner?

Do you mind if I enquire as to which company?

I follow any lead, anytime, anywhere.

Private message me if you don't wish to publish.

 

[AdamVW]

Did someone say speculative miner?

Do you mind if I enquire as to which company?

I follow any lead, anytime, anywhere.

Private message me if you don't wish to publish.

I have PM'd you Springy as I don't want everyone too see just how dopey I am, however I have revealed my first picks in another thread so they are there for all to see really. :1zhelp:

 

[burglar]

... He probably even warns people before he farts. ...

Ha ha ha!

... remember your ratio;s 3:2:1 and u should be fine. ...

Concrete is made by mixing gravel, sand and cement in the ratio 3 : 2 : 1 by volume.
But i suspect you are talking about some thing else.

 

[Rider]

Hey Adam, It really is hard to know what to do but I wanted to highlight how much I have learned over the past 6 months (in my last post) with really no desire to throw money away before I really had a plan in place. I now have a plan and have some idea of what to do as trader.

If you read the books I have read and what is recommended by others on this forum it can really change perspective of the markets. Basically picking the stocks you pick is only the start of it, its the emotions and challenges and ultimately the decisions that you make while holding that will determine your future as a trader. Have a solid trading plan and stick to it. Don't think your dopey for picking stocks go the opposite way you think they would go... everybody does it and will continue to do it.

I am looking forward to a win and wish you all the best on your journey, this is a great forum for advice and a few aren't afraid to help you in their threads.

 

[AdamVW]

Hey Adam, It really is hard to know what to do but I wanted to highlight how much I have learned over the past 6 months (in my last post) with really no desire to throw money away before I really had a plan in place. I now have a plan and have some idea of what to do as trader.

If you read the books I have read and what is recommended by others on this forum it can really change perspective of the markets. Basically picking the stocks you pick is only the start of it, its the emotions and challenges and ultimately the decisions that you make while holding that will determine your future as a trader. Have a solid trading plan and stick to it. Don't think your dopey for picking stocks go the opposite way you think they would go... everybody does it and will continue to do it.

I am looking forward to a win and wish you all the best on your journey, this is a great forum for advice and a few aren't afraid to help you in their threads.

Yes thanks Rider, it is indeed a great forum and many learned people to speak with.

I am of course trying to get my head around it all and to be honest, I am only doing it for a bit of fun. I reached the magical age of 55 last month so can access my super which is nice and the interesting part of my super is that it is currently earning upwards of 20% so is doing ok. I think realistically that my chances of achieving those sort of figures across the board with my shares are probably slim. Hence I am here to learn but not in it expecting to make my fortune, although that would be a bonus.

I am also learning that tips are just that, tips. Certainly not sure things. Of my 4 stocks, 3 are doing ok but the fourth has sucked the life out of any gains made by the other 3. So this side of my strategy needs some work.

One word that comes to mind though and that which you alluded to above is 'DISCIPLINE'. I think this is the key to anything that happens to one's portfolio. I have been reading some reports reports that have made want to waver from my plan but I know that if I did this, I would regret it in the long run. So, I must step back, take a deep breath and be honest with myself and remain disciplined. Not easy to do but a vital skill to have in this game I think. ld:

 

[CanOz]

....the interesting part of my super is that it is currently earning upwards of 20% so is doing ok. I think realistically that my chances of achieving those sort of figures across the board with my shares are probably slim.

So you think a fund manager following the index has a better chance than someone that applies themselves, treats their money management as a business, and uses tested systems?

What exactly do you think your Super manager is? Super man?

CanOz

 

[AdamVW]

So you think a fund manager following the index has a better chance than someone that applies themselves, treats their money management as a business, and uses tested systems?

What exactly do you think your Super manager is? Super man?

CanOz

With my limited knowledge CanOz at this point, indeed I do compared to me. Perhaps later on when I understand things a little more I may think differently.

 

[CanOz]

With my limited knowledge CanOz at this point, indeed I do compared to me. Perhaps later on when I understand things a little more I may think differently.

Well, there is your goal then, outperform your fund manager

Pitter Patter....

CanOz

 

[AdamVW]

---

Well, there is your goal then, outperform your fund manager

Pitter Patter....

CanOz

Yes I hadn't thought of it that way CanOz, and quite a respectable initial goal to aim for a little old security guard sitting in a refinery in Kwinana I would think. ld:

 

[CanOz]

---

Yes I hadn't thought of it that way CanOz, and quite a respectable initial goal to aim for a little old security guard sitting in a refinery in Kwinana I would think. ld:

We're all built to learn AdamVW!

 

[burglar]

Well, there is your goal then, outperform your fund manager ...

I thought I could outperform my fund manager.
Geez he must be good, or I must suck.