Australian (ASX) Stock Market Forum

Turning 5,000 dollars into 50,000 dollars

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moses said:
Hmm...I just went back and read through this entire thread. It makes fascinating reading.

Some quotes...

"Your chances of doing this are essentially zero. It's probably pointless telling you why since you won't believe the naysayers"

"Give me all your money. I'll go and blow it on concaine and prostitutes. It shouldn't matter to you, as your going to lose it all anyway"

"You are making the following fatal trading errors;
1. Buying only one stock at a time.
2. Not using a stop loss."

"To go from 5grand to 50grand in 1 year (which was wat insider stated in the original post of this thread) is not only unrealistic, its impossible."

etc.

Yet all he has done since starting the thread (at $9k) is hold onto one single stock. I'm looking forward to Insider announcing a result of $5K to $100K in a year. But I think he has already made his point.
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Hi Moses,

You are absolutely incorrect. You can make well over 50 grand from 5 thousand. For example If you bought $5000 worth of PDN in Jan 2004 at 5cents and sold in Jan 2005 at .80 cents you would have made $80000!

Another example- if you bought $5000 of AGS in Jan 06 at .20c and sold it in Jan 07 at $2.20 you would now have $55000!

I could point out countless other examples for you however i don't have the time.

I hope that this increases your understanding of the opportunities that can be found in the share market.

Best regards

Champ
 
exberliner1 said:
Trailing stops and conditional orders do not interest me.....I usually have only one or two "hot stocks" on the go at any one time.....so I can look after them my self...

The free held stuff doesn't really matter as I can hold long term...

So in effect I run 2 portfolios......one longer term with only free held in it and a smaller - usually one or two stocks only- where I think I will get the 100% or so profit short term so I can sell half and get my money back and dump the balance into my free of charge long term portfolio.

My current 2 "hot stocks" are OVR and HLXO - again if necessary I will convert the oppies in HLXO if I have to in March although I think it unlikely I will need to as the profit will be there for the taking.

The stock though I am most excited about right now is OVR....

EB
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Hey, from what I understand you to be saying you are buying x shares at say a $1 and when (if) they run to say $2 you sell half and let the profits run (slide) as if they were "free".

Is this correct? The reason I ask is becuase I have done this on a number of shares. My problem is that it is confusing me tax wise. Initially one is deemed a trader for tax reasons, but logically when you keep half the profits for an "indefinite" time you become an investor. How have you handled this?
 
I have only been speculating in Australia for 8 months so it hasn't been an issue yet....Lived in the UK and Germany before I came here....

I took some of the profits I had made in a one year hold of LHG and decided to go for wanton speculation.....as I do around 50 trades a month.....I will have to pay full income tax on my gains I guess....

That's why I need to make a lot of money...

EB
 
champ2003 said:
Hi Moses,

You are absolutely incorrect. You can make well over 50 grand from 5 thousand. For example...
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???

Maybe you should reread my post. I was congratulating Insider and exposing his critics (without embarrassing them by naming them). Not sure how that makes me incorrect.
 
moses said:
???

Maybe you should reread my post. I was congratulating Insider and exposing his critics (without embarrassing them by naming them). Not sure how that makes me incorrect.
Click to expand...


Hmm...I just went back and read through this entire thread. It makes fascinating reading.

Some quotes...

"Your chances of doing this are essentially zero. It's probably pointless telling you why since you won't believe the naysayers"

"Give me all your money. I'll go and blow it on concaine and prostitutes. It shouldn't matter to you, as your going to lose it all anyway"

"You are making the following fatal trading errors;
1. Buying only one stock at a time.
2. Not using a stop loss."

"To go from 5grand to 50grand in 1 year (which was wat insider stated in the original post of this thread) is not only unrealistic, its impossible."

etc.

Yet all he has done since starting the thread (at $9k) is hold onto one single stock. I'm looking forward to Insider announcing a result of $5K to $100K in a year. But I think he has already made his point.

Hi Moses,

If you refer to the above that you wrote i still fail to see any congrat's and it's blatantly obvious that the critisism is coming from you.

Anyway it now looks like you 've changed your mind and you are dissagreeing with what you wrote.

Cheers!
 
champ2003 said:
Hmm...I just went back and read through this entire thread. It makes fascinating reading.

Some quotes...

"Your chances of doing this are essentially zero. It's probably pointless telling you why since you won't believe the naysayers"

"Give me all your money. I'll go and blow it on concaine and prostitutes. It shouldn't matter to you, as your going to lose it all anyway"

"You are making the following fatal trading errors;
1. Buying only one stock at a time.
2. Not using a stop loss."

"To go from 5grand to 50grand in 1 year (which was wat insider stated in the original post of this thread) is not only unrealistic, its impossible."

etc.

Yet all he has done since starting the thread (at $9k) is hold onto one single stock. I'm looking forward to Insider announcing a result of $5K to $100K in a year. But I think he has already made his point.

Hi Moses,

If you refer to the above that you wrote i still fail to see any congrat's and it's blatantly obvious that the critisism is coming from you.

Anyway it now looks like you 've changed your mind and you are dissagreeing with what you wrote.

Cheers!
Click to expand...

Hey sorry moses,

I re read it again and i now understand. It wasn't extremely understood but i can see what you were trying to say.

Best regards

Champ
:eek:
 
insider said:
MTN is currently down 2 cents last trade @ $3.33
$200 in bank

9000Shares X $3.33 + $200 = $30170 :)
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A tremendous example of letting profits run.
Well done.

What is your forward strategy?
 
tech/a said:
A tremendous example of letting profits run.
Well done.

What is your forward strategy?
Click to expand...
Thanks guys... I'm still going to hold MTN... Their results are sensational, they're going to be hosting some uranium conference in adeliade I believe next month so they'll get some publicity there... They're sensational value... I really want to hold until one year after my settlement date (Novemver something) so that I get the 50% CGT... hopefully by then they'll be worth $650million bucks... They won't issuing shares any time soon because they have 8million bucks in the piggy bank... They might even buy more tenements with the cash...

Until then I continue to research and make sure that my money is safe... I've been looking at EME alot I'd jump on them If I deicide to sell MTN... UXA is completely out of the question...
 
insider said:
MTN is currently down 2 cents last trade @ $3.33
$200 in bank

9000Shares X $3.33 + $200 = $30170 :)
Click to expand...
Congratulations you have done well. I hope it continues on well for you. You made a good choice. Have you had a trailing stop loss in place, if so what has it been set at. I note a fair sudden drop one day last week which could have been enough to trigger a sale for a lot of traders.
 
Well done Insider, great effort.

If I may add........ a return such as MTN's should be grasped with both hands, forget about the CGT factor (its irrelevant in the scheme of youre profit).

Move on to some value and diversify youre portfolio from the one share......you have the capital now :) .
 
great effort up to now insider. good to see your getting some great returns. i sold MTN already now just holding SMM for my uranium exposure.

just wondering what your plan is regarding the "great debate" ie uranium conference in april.

do you plan to hold and hope they change policy? or sell on anticipation of policy remaining in place?
 
Hey guys... I wouldn't be chasing the CGT if I didn't think MTN had potential to go significantly higher than what it is now... I don't want to post where I think MTN will be in 8 months time because that's called ramping... So I replace that with "I hope" as in I hope it'll reach $15 :p... MTN is long term for me, I'm really impressed by them...

I'll be holding through out the Great Debate because I expect a positive outcome and the "no new mines policy". It'll be abolished eventually... It should because it will counter weight the dinosaur coal industry's eventual downsizing... This is Australia's chance to dominate in a future industry... It'll be interesting to see how China will do with their air pollution problem during the olympics helped brought by the burning of brown coal and cars...

I think both Rudd and Howard are itching to lift the Mines policy and claim the Economic glory for their parties... "See we brought Australia this... blah blah"

Sorry Mr Garret, nice music though:)
 
Hello people :)

I've been thinking heaps about the Correction period and my current situation. The way I see thing is if I sold my shares now (I only hold 9000 MTN shares) @ $3.70 that gets me $33,300 and I'd only pay about $3300 in tax which then means that if I buy back in below $3.30 it makes it worth while because it is from that price I start picking up more shares.

I don't think I own enough to make use of the CGT discount, what do you think?

What do you think the likely hood of MTN falling more is? Also consider 5 million shares issued and bought buy Escrow @ 20cents are going to be introduced on March the 18th. So MTN is facing Dilution as well as the risk of Escrow selling some off for profit. It looks worse and worse

Another question, do the experienced investors care about CGT at all?

I'll keep yas up to date with my thoughts and with what I'm doing... so much to think about :banghead:
 
HI Insider, don't listen to me, listen to freeballinginawetsuit. MTN's had a great run but nothing gos forever, you obviously love the stock, keep some but diversify just like freeball said. Depending on one well picked stock in a bull market is risky but now I'd call it insane. Also there are plenty of bargains out there that get better every day of the fall. Timing is as always everything :2twocents

PS: I'm not called "Öut Too Soon" for nothing. :rolleyes: so make your own decision.
 
Kimosabi said:
As far as I'm concerned, if your paying tax, your making money...
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Too true!
I used to have a public servant mate who was always complaing about how much tax he had to pay, my answer was always "gees! I wish I had to pay that much tax!". ;)
 
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