How did you all start?

[questionall_42]

What about the satisfaction of a 50k payrise next year without having to convince some a-hole that you're worth it???

Fortunately working for myself now and almost got that magical work-life-happiness-contentness balance right. So no a-hole bosses to convince; just dependent on how much I want to work.

And, I am in the midst of exploring if my heart (and mind) can handle being a trader. A few dabbles is different from being a full-time trader. You have a point ASX:G - but what I am finding hard is the loneliness of trading; have a few mates who are in the same boat and ASF is great, but for me, just not the same as actively working with people. So maybe we need those a-holes?

 

[nizar]

Fortunately working for myself now and almost got that magical work-life-happiness-contentness balance right. So no a-hole bosses to convince; just dependent on how much I want to work.

And, I am in the midst of exploring if my heart (and mind) can handle being a trader. A few dabbles is different from being a full-time trader. You have a point ASX:G - but what I am finding hard is the loneliness of trading; have a few mates who are in the same boat and ASF is great, but for me, just not the same as actively working with people. So maybe we need those a-holes?

Thats a great point.
I think its quite lonely as well.

So my aim is not to trade for a living, i could not think of anything more boring, but rather, have a mechanical end of day or end of week system, where i spend a few hours a nite and let it trade in the background.

That way i can still work on my own (other) businesses, and do whatever i want in my time, instead of sitting in front of a screen.

That way i get the rewards of trading, without having the boredom/loneliness.

And there are some longterm trend traders, that trade purely mechanically, and they really clean up. No reason why i cant join them in the future.

 

[the barry]

Thats a great point.
I think its quite lonely as well.

So my aim is not to trade for a living, i could not think of anything more boring, but rather, have a mechanical end of day or end of week system, where i spend a few hours a nite and let it trade in the background.

That way i can still work on my own (other) businesses, and do whatever i want in my time, instead of sitting in front of a screen.

That way i get the rewards of trading, without having the boredom/loneliness.

And there are some longterm trend traders, that trade purely mechanically, and they really clean up. No reason why i cant join them in the future.

I'm in the same boat, worked 7 years as an electrician and saved up enough cash doing that to trade full time. The problem i find is you have to be watching the screen from start to finish. 10 minutes away from the screen can and often is the difference between a gain and a loss. Best way to get around it is to socilalise at night. Otherwise you quietly go nuts.

 

[nizar]

10 minutes away from the screen can and often is the difference between a gain and a loss.

Learn to trade End of Day. Or better still, End of Week.

 

[professor_frink]

Thats a great point.
I think its quite lonely as well.

So my aim is not to trade for a living, i could not think of anything more boring, but rather, have a mechanical end of day or end of week system, where i spend a few hours a nite and let it trade in the background.

That way i can still work on my own (other) businesses, and do whatever i want in my time, instead of sitting in front of a screen.

That way i get the rewards of trading, without having the boredom/loneliness.

And there are some longterm trend traders, that trade purely mechanically, and they really clean up. No reason why i cant join them in the future.

Obviously it will vary for different people, some people need the social interaction with work colleagues. I don't like dealing with people all day long, so trading is a great way to spend my day.

No commute
No customers
No boss
No set hours
No office politics
No ceiling on potential income

In regards to sitting in front of the screen all day- I put a trade on not long after the open this morning- order management software is currently taking care of it for me- either targets are hit or the trailing stop takes me out. I don't actually have to be in front of the computer right now, and after I post this, I'm gunna go make myself a coffee, and relax for awhile before HK opens

 

[BlingBling]

My first into to shares was through the ASX school game. I didn't place but came very close to the top 10 in the state and was first in our school.
My first investment in the crown casino through my uncle who was a mate of Llyod Williams (then the CEO?). That went very well, cashed out and went off to Indonesia and surfed my brains out on the profits for a few years! (I was 19 at the time).
Accumulated some more money to start a biz in Japan and found BBG float. Spent half my biz money on that ($20k). Still holding and have bought when prices were down. Been in on a few other floats like LWB and have done pretty well just buy holding.

I guess I've been lucky with my picks so far, I did research them but not like I am these days (and my earlier investments are killing my recent ones! over analysis?)

 

[insider]

What started you into trading shares? What got you interested in it? How long have you been doing it? How long do you plan to keep doing it? What's the one thing you wished someone told you when you got started in trading?

Thanks for sharing your insights.

Ok... I started trading in shares because I was trying to find alternatives to making money... Why was I doing this? Because I help my parents with their business and I go to school more than full time so I had no time for a real job...
So out of frustration with money got me here. I picked up a copy of Rich Dad poor dad and that changed my train of thought and got me motivated...

I've been doing this for a year and 7 months and I plan to keep doing this until I die... I'm talking about investing in general not just the share market... My short term goals is to get as much money as possible (simple)

The one thing I wish somebody told me was to just hold on to stocks a little bit longer... I always sold too early in the first year...

 

[>Apocalypto<]

Obviously it will vary for different people, some people need the social interaction with work colleagues. I don't like dealing with people all day long, so trading is a great way to spend my day.

No commute
No customers
No boss
No set hours
No office politics
No ceiling on potential income

In regards to sitting in front of the screen all day- I put a trade on not long after the open this morning- order management software is currently taking care of it for me- either targets are hit or the trailing stop takes me out. I don't actually have to be in front of the computer right now, and after I post this, I'm gunna go make myself a coffee, and relax for awhile before HK opens

I love your style Frink!

everything that I read from you is innovative and well researched hats off to you buddy!

 

[trinity]

Thanks for sharing your thoughts.

My turn to share

What started you into trading shares?
I just started trading this week on the ASX. I moved to Sydney just 3 years ago, previously, I had bought a couple of stocks from my country of origin. Moving here, my savings was divided by 40. Hence, I had to save up a bit before getting into ASX.

What got you interested in it?
Picked up rich dad book 4 years ago, am 33 now, decided that I wanted to do something about my financial circumstances.

How long have you been doing it?
On the ASX, barely a week.

How long do you plan to keep doing it?
I am enjoying it so far. I work in IT and I sit in front of the PC at least 8 hours a day. Now that I have actually bought some stocks, I come home and I spend 1/2 hour or more reading and learning about the stockmarket.

What's the one thing you wished someone told you when you got started in trading?

Start young. The power of compounded interest.

 

[vishalt]

Sat on my butt with no job for 6 months, so Dad comes up to me and he teaches me the way of the Stock Market.

He's a true warrior that guy, he managed to survive tech bubble somehow so he has a lot of wisdom.

I had $4000 saved up and I went suicidal on my first trade, bought 2000 shares of BEN (Bendigo Bank) and I didn't even know what a report was, and it reported the next day and surged to $14 within a week, was a very lucky first trade (lol if it was a bad report I would've margin called).

What I wish I did during my trading journey so far is I wish I was more patient, less exposed, and used stops.

Stops are like the most important thing in the world, and never expose heaps of your capital in the one company at the one share price are the main things I've learnt.

 

[UPKA]

my story can be simple or complicated depending on how u see it. I started with few thousand dollars couple of yrs ago while i was still in Uni, studied economics. stumbled crossed a company called Monax Mining, seeing its SP soar on issue, i decided to jump on to the wave, thought I made a bad mistake, seeing the SP going south with no sign or U turn, so js left my holding there n never cared abt it. 8 mths later, decided to check out if the company went bust, surprised me it soared up to $1.20, folded multiple times compared to my entry price of 30c . I had no idea how or why it went up, bt never the less, its good pocket money!

THEN, after Uni end of last yr, parents bought me a Honda S2000, my first car and first maual car. after 3mths of the "high life" ,on a wet spring evening, after driving the gf home, i decided to launch the car at a set of light, and went sideways and into a wall... ANYWAYS, got my insurance payout, since i catch train to work everyday there is no need for another car, so i invested the pay out into shares, and never looked back! now im thinking if i should go back to uni n study a quick geology course, gotta love the mining boom! Still learning atm, and this forum certainly helped me heaps!

 

[CanOz]

Obviously it will vary for different people, some people need the social interaction with work colleagues. I don't like dealing with people all day long, so trading is a great way to spend my day.

This is a classic statement, and to me it sums up trading in that, its a personal thing.

I spend my career working with large crews of employees..i long for this lifestyle, solitary and peaceful, in charge of my own destiny.

But while i learn and practice, and establish my systems, i have my career as support for my eventual destination.

Cheers, and thanks Prof for summing it up for me.

 

[wayneL]

Obviously it will vary for different people, some people need the social interaction with work colleagues. I don't like dealing with people all day long, so trading is a great way to spend my day.

No commute
No customers
No boss
No set hours
No office politics
No ceiling on potential income

In regards to sitting in front of the screen all day- I put a trade on not long after the open this morning- order management software is currently taking care of it for me- either targets are hit or the trailing stop takes me out. I don't actually have to be in front of the computer right now, and after I post this, I'm gunna go make myself a coffee, and relax for awhile before HK opens

Yup,

Some love the cut and thrust of business/colleagues etc. Some don't.

Comes back to that personality test someone posted some time ago. Most full time traders will start with I (e.g. INTJ or whatever) which stands for Introvert. Introvert does not mean shy and extrovert does not mean outrageous. As someone at the time pointed out at the time and introvert is someone who becomes drained by people; an extrovert is someone who is drained by being alone. (hat tip to whoever said that)

There is this view that traders have this sort of setup: (hat tip to Joe Blow)



Of course you can do it that way as an above poster mentioned. But you don't have to as Frinky has pointed out. (Front ends rule )

You don't have to day trade either. You can do this on a more leisurely time frame if that suits. I only day trade if I like the setup or I just pass.

Well put Professor. I like my cave too. If I want some interaction (which is becoming rare as Oz society becomes more Americanized) I just go down to the pub. Though I have a day job waiting for me in UK, it is in the same field and very little outside of cave activity.

A convoluted way of saying "Horses for Courses".

 

[nizar]

Thats a great point.
I think its quite lonely as well.

So my aim is not to trade for a living, i could not think of anything more boring, but rather, have a mechanical end of day or end of week system, where i spend a few hours a nite and let it trade in the background.

That way i can still work on my own (other) businesses, and do whatever i want in my time, instead of sitting in front of a screen.

That way i get the rewards of trading, without having the boredom/loneliness.

And there are some longterm trend traders, that trade purely mechanically, and they really clean up. No reason why i cant join them in the future.

So looks like nobody agrees with me!

Oh well -- each to his own.

 

[>Apocalypto<]

So looks like nobody agrees with me!

Oh well -- each to his own.

I agree with you and belive you can do it Niz. if you work hard enough you can do anything!

Good trading

 

[questionall_42]

So looks like nobody agrees with me!

Oh well -- each to his own.

Well, I agree too Nizar. All about balance...

 

[larry123]

Hi,

I think I started trading shares because there was a huge potential to make money quickly. I quickly learnt that this was not the case. I plan to keep investing for as long as I can. I wished someone could have told me to be patient and let profits run.

 

[PETA 23]

Hi - This is my first post as a very novice beginner. I have spent hours over the past few weeks reading what everyone has to say on this site and find it all fascinating (except a lot goes way over my headas I am a 40ish yr old housewife who left school ???yrs ago). I have had a couple of good successes so far that have me hooked, but also more losses and have come to the conclusion that I need to learn from what I read and try to become more patient - thankyou for those words of wisdom.
Cheers

 

[Caliente]

lets see...pretty linear timeline.

- first started paper trading at 14
- won the sharemarket game in my school at 15
- certificate of distinction in economics at 17 9 (its a WA thing)
- Started at 18/19 (cant remember now!)
- much wiser investor now at 22. I trade a mix of DT and LT, although am moving in the way of LT as shortterm trading places too many demands on my course!

 

[Broadside]

Hi - This is my first post as a very novice beginner. I have spent hours over the past few weeks reading what everyone has to say on this site and find it all fascinating (except a lot goes way over my headas I am a 40ish yr old housewife who left school ???yrs ago). I have had a couple of good successes so far that have me hooked, but also more losses and have come to the conclusion that I need to learn from what I read and try to become more patient - thankyou for those words of wisdom.
Cheers

Welcome. I have made so many mistakes, it's all part of the fun...if you already know to try and become more patient your learning curve is years ahead of me. I finally twigged the best gains came from holding shares for longer. Good luck.

I should add, providing they're the right shares of course!