My first trades

zwiiyt said:

ok

Click to expand...

The ASX has a series of online modules that might help you understand the basics of investing in the sharemarket. I highly suggest doing those, at the very least, before you do anything else.

http://www.asx.com.au/resources/online-courses.htm

zwiiyt said:

I understand. I know that it was probably just luck that i picked it, and that is one bet that I can't count on holding for long. Thank you for your ideas. I obviously have a lot more to learn. Do you have any books you could recommend?

Click to expand...

Sorry no books per say but I agree with McLovin the ASX provide an excellent resource/education series for people new to the markets.

Start there, read forums, ask questions,etc

#1 rule for beginners. NEVER invest money you cant afford to lose. If you need this money you are trading with, then take your profit and run.

If you are willing to lose it in the process of learning then have fun, it will probably take you at least 5 years to be consistently profitable, and then by then the market will have changed. Members here will help as long as you are willing to listen and do not pretend to KNOW what you are talking about.

I would suggest reading thouroughly through the entire beginners forum. If you have a question, it will have been asked before. Make use of the search function

prawn_86 said:

#1 rule for beginners. NEVER invest money you cant afford to lose. If you need this money you are trading with, then take your profit and run.

If you are willing to lose it in the process of learning then have fun, it will probably take you at least 5 years to be consistently profitable, and then by then the market will have changed. Members here will help as long as you are willing to listen and do not pretend to KNOW what you are talking about.

I would suggest reading thouroughly through the entire beginners forum. If you have a question, it will have been asked before. Make use of the search function

Click to expand...

thank you.

Just check MAD and it is 0.68 now. This is 40% increase within few days of trading. It is amazing and may be a beginner's luck.

For myself, I start buying stock three weeks ago with one account in IG ($1000) and one account in IB (A$10,000). The IG account is used to trade DAX and have A$290 left now (stop trading).

IB account is to trade ASX stock. For the first two weeks, the balance on this account was down all the time and never have one winning day. Thanks for low commission costs in IB, I changed the stock around and just see the balance going to +A$1000 on last week.

I added another A$10,000 into the IB account and bought more stock on last Thursday. However, the whole balance was reduced to A$500 again on last Friday (ASX was down on last Friday).

Today, it seems back again.

I have traded stock 10 years ago and never made any money. Tried Forex few years without any luck.

From reading many posts in the forum, finally, I have some clues on trading. I think the best spending is to buy the VSA software last week although I haven't used the software to buy any stock yet, but I learn heaps from VSA and completely change my views about trading. There are tons of material from internet about VSA. Or just search the VSA keyword in this forum and some good posts are coming up. VSA is actually adding one more dimension on top of traditional technical analysis - the Volume which is called trading activity/effort in VSA.

zwiiyt said:

I am already up $80 dollars.

Click to expand...

Do you know how much of that will be taxed?

Nice pick with MAD

You got lucky though, don't let it make you cocky.