Starting Point?

[torsim]

Hi all,

I just turned 22 and feel I am at that age where i should really be thinking of my future. Currently I am still studying at university and working part time.

Recently the Stock Market just perked my interest and I am looking to jump on board but really I don't know where to start or where to go about it. The thing is since I am new to well.. everything. I am looking for advice as to where I should start, what i should be looking out for.

I like the idea of penny stocks and the whole "pump and dump" mentality, with that said I guess with a small start of about 2k-3k.. what should I be doing? I don't want to start and loose everything in one go. There is no point jumping on shares that offer dividends with such a small capital is there? At this current stage I am just dumping everything I can into a uBank savings account but I am sure there is much more potential.

In terms of what I have done already... I just missed the board on the current ASX Stock Market game, will jump on the next one (5 July)...although right now I am on stockwatch.com.au one and giving that go. Also, I am working through the whole ASX Shares education A grabbed a book "A beginner's guide to Charting" to give me a better grasp of what I am looking at but can someone suggest additional material to read?

I am looking to make some money in the short term but also I see myself in the long haul also.

Where should I begin?

 

[McLovin]

I like the idea of penny stocks and the whole "pump and dump" mentality,

Just a quick FYI, "pump and dump" is a form of stock fraud, probably not something you want to start out in.

 

[torsim]

Just a quick FYI, "pump and dump" is a form of stock fraud, probably not something you want to start out in.

Oh no kidding... clearly I need to do more reading. I thought it what was the term used to describe quickly turning over stock. Buying low and getting out in the short term when you still have made decent profit basically I thought it was just not holding onto stock for a long period. My mistake! I guess this whole experience will be a massive learning curve for me. Appreciate the heads up.

 

[burglar]

...

Where should I begin?

Hi torsim,
Suggest you search for the "pump and dump" thread first.
https://www.aussiestockforums.com/forums/showthread.php?t=21622

Educational or humourous dependin' on whose posts catch you eye!

Then search for Sir O's thread for newbies.
https://www.aussiestockforums.com/forums/showthread.php?t=14370

Enjoy!!

 

[torsim]

Hi torsim,
Suggest you search for the "pump and dump" thread first.
https://www.aussiestockforums.com/forums/showthread.php?t=21622

Educational or humourous dependin' on whose posts catch you eye!

Definitely gave me a few giggles here and there!

Then search for Sir O's thread for newbies.
https://www.aussiestockforums.com/forums/showthread.php?t=14370

Enjoy!!

Gosh 29 pages and after skimming through some of it and I know its all good stuff. Perfect place to start. It will take me a few days to properly go through it all. Thanks for pointing me towards the thread.

On a completely random note, I got a letter in the mail today from Woolworths Limited offering me SPP (Share Purchase Plan). Kind of a chance thing since I have recently get interested in the "game". Everything looks fairly promising with it, after reading through their material. Right now I am really considering take it up. I just emailed them for further details and now awaiting for a reply Some thoughts?

 

[AlanGreenspan]

Hi folks, im in the same boat as torsim here, same amount of money similar age (24) and also at uni. Total noob as well with a dauntingly large amount of information to be learnt about the stockmarket world. Keen to see how this thread progresses

 

[skyQuake]

On a completely random note, I got a letter in the mail today from Woolworths Limited offering me SPP (Share Purchase Plan). Kind of a chance thing since I have recently get interested in the "game". Everything looks fairly promising with it, after reading through their material. Right now I am really considering take it up. I just emailed them for further details and now awaiting for a reply Some thoughts?

That's actually an employee SPP. You get to salary sac to buy shares, meaning you're paying it with your pre-tax income up to a max of $1k worth of shares per financial year. A considerable saving if you have high income.

 

[joea]

Hi all,

I just turned 22 and feel I am at that age where i should really be thinking of my future. Currently I am still studying at university and working part time.

Recently the Stock Market just perked my interest and I am looking to jump on board but really I don't know where to start or where to go about it. The thing is since I am new to well.. everything. I am looking for advice as to where I should start, what i should be looking out for.

Where should I begin?

Hi.
On this forum I have noted it to be said "it takes 10 to 15 years", to learn the stock market.
Now that statement "stock market", is like saying "how long is a piece of string".

So I am going to make a suggestion. Get yourself a couple of packets of "minties", and thoroughly go through this forum and workout what you really want to do.
Got a whiteboard.? that will help!!!

The alternative is, to jump in, an make a trade and make your first loss. (It will happen!!)

Finally I have attached mistakes made in forex. On the internet, in trading sites many list of mistakes have been listed. Chase a few more of these also.

http://www.lovefinanceinfo.com/2012/04/15-most-common-forex-trading-mistakes/
This will allow you to work out which mistake you are going to make first.!!!!

joea

 

[joea]

torsim

There is a guy who is an academic who teaches trading.
Name is Roger Kinsky. Have attached a link.

http://books.google.com.au/books/about/Shares_Made_Simple.html?id=QheSumcB_VMC&redir_esc=y

joea

 

[burglar]

... I guess with a small start of about 2k-3k.. what should I be doing? ...
Where should I begin?

Small starts are very difficult because of brokerage and stuff.

There is an excellent thread started by nioka "Investing my first $1500"

https://www.aussiestockforums.com/forums/showthread.php?t=19955

 

[torsim]

That's actually an employee SPP. You get to salary sac to buy shares, meaning you're paying it with your pre-tax income up to a max of $1k worth of shares per financial year. A considerable saving if you have high income.

Oh yes, of course. Still waiting for additional information but considering its pre-tax income and I know I can go without that income. I reckon I will just jump on it - probably for the max of $1k. Interested to see how much lower it will be from market, ill post details concerning at a later date.

Finally I have attached mistakes made in forex. On the internet, in trading sites many list of mistakes have been listed. Chase a few more of these also.

http://www.lovefinanceinfo.com/2012/04/15-most-common-forex-trading-mistakes/
This will allow you to work out which mistake you are going to make first.!!!!

joea

Interesting read. Me being me, and trust me I know me fairly well... I could see myself making a handful of these mistakes. I guess I will be more aware of them now and think more deeply about any decisions before I make them. I am in it for to make money and help with my future opposed to losing it :

Hi.
On this forum I have noted it to be said "it takes 10 to 15 years", to learn the stock market.
Now that statement "stock market", is like saying "how long is a piece of string".

Its 5 meters long, no its 10, no 5. I don't know how long it is!

Haha I can just see a wealth of information on these forums not to mention several books and websites I have come across. On that note I have already ordered that book you suggested after reading the Google preview... should be expected it in the next week or so. Till then I will stick the the newbie thread by Sir O.

Small starts are very difficult because of brokerage and stuff.

There is an excellent thread started by nioka "Investing my first $1500"

https://www.aussiestockforums.com/forums/showthread.php?t=19955

I completely agree, it was a great thread. It was one of the first threads I read prior to making this thread. It was great to see that is it possible albeit he is an experience trader from the sounds of it but nonetheless I did see that from a small bankroll there could be a lot of potential.

 

[Julia]

I completely agree, it was a great thread. It was one of the first threads I read prior to making this thread. It was great to see that is it possible albeit he is an experience trader from the sounds of it but nonetheless I did see that from a small bankroll there could be a lot of potential.

Just remember that Nioka is extremely experienced.
Might not be so easy for a beginner, but good luck.

 

[Spongle]

Hi

I'm 31 and have just started my degree...

I've been interested in this stuff for about 1 1/2 yrs now

my advice is read, read and read.

Imho i think forums are the best place for information but... alot of noise, not much signal.