New to stock marketing

[wonderrman]

Concur with everyone about not dropping dentistry. Why would you study economics either for trading? Markets are irrational, you want your system to take care of your trading, economics could cloud his judgment.

 

[Chaka1988]

No, no, no, Timmy. Don't swap dentistry for economics, Chaka.


Yep, I agree with Cartman, though probably wouldn't think quite half a mill needs to be the starting base.

Congratulations on getting into dentistry, Chaka. It's a very lucrative career if you actually like poking around in people's mouths.

What I'd be doing is reading , starting with Stan Weinstein's "How to Profit in Bull and Bear Markets" and maybe for a start buying a 'almost can't go wrong' defensive stock like WOW (Woolworths) just to get a feel of the market.

Good luck. I'm sure you didn't mean to come across as being as uppity as you did. Just a case of unrealistic expectations which you've hopefully now modified.

Thanks. I have already ordered that book and I am sure that I will have some time to read it. I didnt mean to be arrogant. I just thought it is possible to make much money without having knowledge in the field. The sale consultant of that company was so convincing... I am just too naive.

 

[beamstas]

Thanks. I have already ordered that book and I am sure that I will have some time to read it. I didnt mean to be arrogant. I just thought it is possible to make much money without having knowledge in the field. The sale consultant of that company was so convincing... I am just too naive.

That's her job.

 

[jono1887]

Thanks. I have already ordered that book and I am sure that I will have some time to read it. I didnt mean to be arrogant. I just thought it is possible to make much money without having knowledge in the field. The sale consultant of that company was so convincing... I am just too naive.

well at least you have now managed to learn something from these forums. If it really was that easy to make money with no knowledge, don't you think everyone would be doing it by now??

 

[Chaka1988]

well at least you have now managed to learn something from these forums. If it really was that easy to make money with no knowledge, don't you think everyone would be doing it by now??

Probably, but the company exists only for 10 months

 

[Timmy]

Thanks. I have already ordered that book and I am sure that I will have some time to read it. I didnt mean to be arrogant. I just thought it is possible to make much money without having knowledge in the field. The sale consultant of that company was so convincing... I am just too naive.

You are making progress! Good stuff.

OK next lesson:
Don't go with the herd. The herd in this case advocates sticking with the dentist game. Clearly this is not to be trusted.

Get out of dentistry. You will end up poking around in people's foul-smelling gobs all day, catching swine flu (and, apparently, dying from it) and AIDS, most likely when one of the punters bites you.

Economics is the go, young man. Repeat after me, people act rationally.

 

[beamstas]

HAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHHAHA

 

[Chaka1988]

You are making progress! Good stuff.

OK next lesson:
Don't go with the herd. The herd in this case advocates sticking with the dentist game. Clearly this is not to be trusted.

Get out of dentistry. You will end up poking around in people's foul-smelling gobs all day, catching swine flu (and, apparently, dying from it) and AIDS, most likely when one of the punters bites you.

Economics is the go, young man. Repeat after me, people act rationally.

Done. I have called my head of school already and told him to f*** off.
whats next? where can I get a good demo account for stock TRADING

 

[Timmy]

told him to f*** off.

Good man. You are half-way there already!

 

[matty2.0]

Read the book;

"How to make money" by Adam Smith

and

"How to turn $9000 into $9M" by John Maynard Keynes.

They're the only books you'll ever need, especially in your situation. Trust me.

They're very rare books and hard to find, but once you've found it - you've found the holy grail.

 

[Chaka1988]

Read the book;

"How to make money" by Adam Smith

and

"How to turn $9000 into $9M" by John Maynard Keynes.

They're the only books you'll ever need, especially in your situation. Trust me.

They're very rare books and hard to find, but once you've found it - you've found the holy grail.

Yep too rare. even google cant find them...

 

[beamstas]

Timmy stop telling him bs

 

[Cartman]

A novice with a half a million dollar account? That's a disaster waiting to happen.

Yep, I agree with Cartman, though probably wouldn't think quite half a mill needs to be the starting base.

geez u guys ---- why dont smilies have a tongue in cheek character !!

i originally wrote a long response on this topic addressed to Chaka because i could see where he was coming from, and i thought his apparent "laziness" had been misconstrued ---- i think i was correct in that assumption --

i didnt post the original cause it resembled "war and peace" lol ---

for the record -- i wasnt being literal when i said he needed half a mill to trade --- (i thought that was obvious )

what i was saying is:-

1) his current approach to trading is wrong

2) he has the ability to make many more $$ doing something he is qualified for (dentistry)

The chances are once he becomes a qualified dentist, trading will be the last thing on his mind because he will have the ability to make a squillion bucks with minimal risk --- (investing is a different story all together)

Done. I have called my head of school already and told him to f*** off.
whats next? where can I get a good demo account for stock TRADING

learning fast ---- i knew u were smart !! (tongue in cheek smiley inserted !!)---- i'll personally be very interested in how u develop over the next 6-12 months --- young people with intelligence are an interesting commodity ---- keep us posted ...

 

[Mr J]

whats next? where can I get a good demo account for stock TRADING

You may want to look outside stocks, they're just a part of the financial markets. For an Australian, the commissions are also quite high, and the first aim of any betting type activity should be to minimise the vig/commissions.

i wasnt being literal when i said once he needed half a mill to trade

It doesn't really matter, you advised him to put it off for a long time. My point is that experience during that time would go a long way, even if it is to convince him not to trade/invest.

trading will be the last thing on his mind because he will have the ability to make a squillion bucks with minimal risk

Dentists don't make as much as some here seem to be suggesting. They do well, but like almost all professions it does have a ceiling.

investing is a different story all together

Investing is simply ignorant trading in my opinion. So, he waits until he's got a successful practice, and the starts investing? I'm sure there were a lot of dentists taking their own painkillers during the crisis. Best he has plenty of experience to keep him out of trouble and preserve his wealth.

 

[Cartman]

It doesn't really matter, you advised him to put it off for a long time. My point is that experience during that time would go a long way, even if it is to convince him not to trade/invest.

i did ---- and to be fair, i think that was good advice considering his "original" approach based on his comments on this thread --- of course that can change in an instant once "enlightenment" sets in

for the record Mr J --- i basically concur with most of what i have read which u write --- that of course is no benefit to you cause i am a fruit cake, and u may now be branded with "schizophrenia by association" lol

Dentists don't make as much as some here seem to be suggesting.

Yes they do --- ( good ones)

Investing is simply ignorant trading in my opinion.

i agree that can be true,

but often poor traders can make great investors ---

poor investors rarely make good traders though !

 

[Mr J]

i think that was good advice considering his "original" approach based on his comments on this thread --- of course that can change in an instant once "enlightenment" sets in

If the enlightenment doesn't kick in, wouldn't he be destined to lose it anyway? Surely he would just ignore us and think he knows better, and blow it .

cause i am a fruit cake

Fruitcakes think differently to normal people. Sounds like a gift, not a curse!

i agree that can be true,

but often poor traders can make great investors ---

poor investors rarely make good traders though !

As always, shades of grey. I see investing as trading with buy&hold and no shorting. It's all trading to me, 'investing' just refers to the timeframe and long-only positions.

 

[beerwm]

Yes they do --- ( good ones)

same can be said for any profession really,

more to take into consideration than $$$ - when it comes to career choice, imo

 

[data]

Good to here that you are coming round.

Larry Williams who is a good trader recommends:

R - Rules (work out your own set of rules then test and measure them)
A - Attitude (you have to brave the ups and downs with a STRONG mental attitude - your psychology needs to be balanced)
T - Techniques (you have to find your own techniques for trading be it fundamental, technical, astrological etc - whatever works for you like relationships between sectors like bonds and gold seem to have a relationship when one is up the other is down)
S - Systems/Strategies (you have to find your own systems and strategies and test them in the market or back test them. You could run 15 strategies that work for two weeks or 10 months then after that you will have to refine them again)

You cant say that uni will take all your time. You have it easy mate, way too easy.

You dont have a Masters to finish, a family to feed, a business to run, employees to pay, mortgages to pay (yes more than 1) and a household to run and trade. I am a proud Aussie that works hard. It took me 6 years part time to finish my double in business and management while working full time and supporting a family.

BTW uni wont help you to trade unless you like fundamentals and lots of drawn out mathematics. The ONLY accepted forecasting model that is used is the Constant Growth Stock Valuation model.

http://www.globusz.com/ebooks/Valuation/00000020.htm

I hope you can change your mental block that you have there and get past thinking that you can't study dentistry and learn to trade at the same time. If you can you may do well.

 

[Julia]

Dentists don't make as much as some here seem to be suggesting. They do well, but like almost all professions it does have a ceiling.

Well, the last time I went to the dentist, I calculated how much he'd be earning on the basis of what I paid for a 30 minute appt. It came out to around 1.5 mil.pa
Overheads are of course deductible and even after tax it's going to be a fairly healthy income.

 

[data]

see: My Career - Current job placement. Periodontist QLD

150k-200k (Ref No. NSS01317B)

1.5mil is about 5 times what krudd is on. I know what you mean tho it cost me $500 to see the vet for 30min when my dogs ear got bit. But its crazy to think that if the vet earns $1000 per hour x 8hr day = 8k a day x 6 days = 48k per week x 52 weeks = 2.49 mil. I dont think so, just an isolated incident.