Newbie lessons?

[plato2]

Fortunately I am not kidding, that is my goal. I just need some good advice at how I might achieve this goal in trading. I'm sure there is someone here who can point me in the right direction.

 

[Timmy]

Lesson one. TH is a faster typist than me.

 

[BurntToast]

I equate my time as being valued at $50 per hour...now if I spend 5 hours a week that's $250 of my time, over a year that's $13,000.... so I would expect to be close to this mark in profit.... or really is everyone kidding themselves that really trading is simply gambling.

That's all well and good - but to achieve that rate you're going to need more resources behind you, historical returns on the sharemarket are around 12%, so even if you can triple that over the next 1-2 years, you're still going to be a long way short of your target. To reach that 'hourly wage' you're going to need a minimum of about $50k to invest... probably more depending on risk profiles etc.

 

[Trembling Hand]

Lesson one. TH is a faster typist than me.

Nah just give less thought to sentence structure and grammar and spelling and stuff like that and just post post post.

 

[Timmy]

Nah just give less thought to sentence structure and grammar and spelling and stuff like that and just post post post.

LOL.

 

[nunthewiser]

unreal

i shall leave this thread to the experts

 

[Timmy]

I think it's about time I made my first post - been lurking here for about a week now

BurntToast – welcome to ASF.

I’m going to have to disagree with you on some of your points, and agree on others, but hopefully the outcome will be helpful to you.

The search function here is definitely terrible

Actually, used properly it is very good. Joe Blow has posted a really quick guide on how to use the search function (post #31, above) and also a more comprehensive guide at https://www.aussiestockforums.com/forums/showthread.php?t=8380&highlight=search

Following these instructions will streamline the search process for you.

it takes some trial and error before working out how to make it usable

This is basically how I learnt to use it, so agree with you here! It is, though, much easier and quicker to just follow Joe’s instructions.

you often get hit with an anti-spam setting that makes you wait 15 seconds between searches...

When I first came to the site I searched a lot and I have memories of having to wait between searches. The problem is, it feels like a lot longer. But, hey, its only 15 seconds, right?

here's what you'd get for a search on books google.com.au/search?hl=en&q=site:aussiestockforums.com+books&bt nG=Search&meta=

I tried this and got over 4000 results. Admittedly the first results are well targeted, but doing an advanced search according to Joe’s instructions returns 36 results and these too are highly targeted.

The sticky posts – always could be more/less, hard to please everyone. There is actually a thread to get responses as to what people thought were the best resources on ASF, it gets very little take up. It is here, and is a good start: https://www.aussiestockforums.com/forums/showthread.php?t=15751&highlight=forum

Some free resources on technical analysis/charting can be found on this thread: https://www.aussiestockforums.com/forums/showthread.php?t=15958
and on this one
https://www.aussiestockforums.com/forums/showthread.php?t=9476&highlight=free+charting

 

[Julia]

Being a Newbie in trading is a real pain in the butt. You read through so much garbage and waffle on here it is hard to find exactly what you're after...I can't believe how many threads I've read through only to find the initial enquiry gets swamped by so much information.

I'll be specific in what I want and if you can assist I'd be grateful. I want to start with say US$5,000.... I want to operate on the US market when it is closed.... and spend maybe a half hour a day....I think this may be achieved by doing shares/options. I want to learn how to do this but in the interim I don't mind subscribing to a service. I don't want to gamble my money away but rather I am happy to make conservative gains and in 12 months I would like to have achieved around a profit of $15-20k.

Should be no problem, plato. Dead easy, in fact. You obviously won't need any help or any of that garbage and waffle advice you refer to above either.
Half an hour a day is probably a bit excessive in terms of use of your time, though.

 

[plato2]

I never said the advice was garbage or waffle.... but it seems everyone here has an opinion. Newbie's don't get their questions answered, since my first posts I have about 10 replies all concerned about my expectations but not one answer... staying focused seems to be a problem here. I can understand the frustrations of Newbies.... it would be really nice if someone did some threads about benefits and pitfalls of the different trading strategies with some resources for each so Newbies could 'quickly filter' what they don't want/need to know. Presently this forum does not lent itself to providing info that Newbies want to know and I really wonder whether posting assists them or merely gives others something to do, to have a banter!

 

[Timmy]

I never said the advice was garbage or waffle.... but it seems everyone here has an opinion. Newbie's don't get their questions answered, since my first posts I have about 10 replies all concerned about my expectations but not one answer... staying focused seems to be a problem here. I can understand the frustrations of Newbies.... it would be really nice if someone did some threads about benefits and pitfalls of the different trading strategies with some resources for each so Newbies could 'quickly filter' what they don't want/need to know. Presently this forum does not lent itself to providing info that Newbies want to know and I really wonder whether posting assists them or merely gives others something to do, to have a banter!

Plato2, you may be better off going to church and praying, they are the specialists in miracles, not us.

 

[BurntToast]

Thanks Timmy - hadn't seen that first thread you posted, looks like there is some good stuff in there.

I guess the point about the search function is that while regular users who have had the opportunity to try it a few times and get used to it's quirks don't have a problem with it, most new visitors are going to give up on it pretty quick because the default options aren't that helpful... no big deal, just means you'll get a constant stream of new users asking the same questions and needing to be told how to search for the how to search thread

 

[plato2]

If God traded I'd go to church and see him...he said he doesn't because he already owns everything.

 

[nunthewiser]

yep ............reckons $50 bucks an hour cheap actually

set your expectations higher bud

mr market usually charges a great deal more than that to teach you a lesson or 3


on a side note . all this whinging about the search function ??? even after its been gift wrapped on how to do it on numerous occasions in here in the last 2 days ... it wouldnt be other forums just here to stir the natives would it ?

 

[Timmy]

on a side note . all this whinging about the search function ??? even after its been gift wrapped on how to do it on numerous occasions in here in the last 2 days ... it wouldnt be other forums just here to stir the natives would it ?

Always a possibility?
But, two new entrants posted here this morning.
One reasonable and rational.
One, um, not quite so.
An interesting comparison.

I think part of the function of a forum like this is to give 'em enough rope.
Some use it to haul themselves up.
Some use it for a different purpose.

Its all good.

 

[BurntToast]

on a side note . all this whinging about the search function ??? even after its been gift wrapped on how to do it on numerous occasions in here in the last 2 days ... it wouldnt be other forums just here to stir the natives would it ?

yeah - I joined a week ago and stayed quiet just waiting for this opportunity to mess with you all

 

[Medici]

After stirring everyone, i would love to submit the link which may be suitable for all newbes :
http://www2.standardandpoors.com/po...s_asx100/2,3,2,8,0,0,0,0,0,2,3,0,0,0,0,0.html

Hope it helps

 

[warezwana]

Re: Newbie lessons? and ramblings of a self confessed tradaholic

What line of work does someone who knows nothing at all start at $50 an our. Just LOL

oi oi oi (waves hand feverishly) I know the answer to this one!!!!

Stripping , lap and pole dancing ... prostitution, drug dealing... just to name a quick few

Seems like it's newbie stress time today on the forums ...
As a newbie myself (going on my 7th month, yes I can hear many of you saying 'just sooo green') I share the tiresome thoughts of the other newbies here searching and reading endlessly, but you know what.... YOU HAVE TO SUCK IT UP and just DO IT. How bad do you want to trade? There are NO short cuts to be had just endless hours in front of your computer/books (I average 5hrs on week nights after I get home from my 50hr/wk job, then pretty much ATLEAST 20hrs on the weekend, and I still feel I know nothing compared to whats needed)... I think they call it 'study', well in my day they did.

If there is ONE valuable thing I have learnt, it is to get out of your head ALL the preconcieved ideas you had about getting rich from trading in a week and or the idea of learning to trade in 1-6 months like so many BS sites and pushers on the internet try to shove down your throat and... AND IF you are one of the very few freaks that just HAVE to learn to trade at any cost or time frame, then settle in for the LOOOONG haul and start reading the forum, books or any other material you can get information from because it might just happen that ONE DAY you will get to call yourself a trader but it's NOT going to happen any time soon if your at all interested in making a profit.

Every time I think I have a direction and I take a step forward I then learn I have to take 2 steps back to learn other things first.
I could be wrong though I have been wrong a few times before, just look at my virtual trade results

I guess the point im trying to make is it is probably going to take you a lot longer than you think to make consistant profits from trading and definately going to take you longer than you have been told...It all just comes down to how bad you want it and if your willing to do the hard yards or searching/reading yourself.
The people here who are trading are doing us all a huge favour just by answering what they do. many thanks to all those forum wh0res here.... it's very appreciated.