What would you do with $5,000 spare?

[Nathan_b]

Hey everyone...

This may sound like a silly question, but been looking at few stocks as I am new at this.... I am looking to throw another $5k into the market and looking short term in and out... what are your thoughts on what to buy, I am looking at some NWT shares TAM, CAV, DYL, TTR as well.

Just throwing ideas around, ready to put call on in morning to buy.

cheers,
Nath.

 

[Joe Blow]

Nathan,

It is not permitted for anyone on ASF to give you specific buy or sell recommendations on particular stocks, as ASIC considers this the provision of financial advice. The only people legally allowed to do this are licensed financial advisors.

All I can tell you is to please do your own research.

With that said, I will now close this thread.

 

[doctorj]

Welcome to ASF Nathan.

Making money on the markets is a tough game and not as simple as getting a hot tip. You can pick the right stocks, but if you get your money management, psychology, entries or exits wrong you're likely to lose a stack of money. There's a wealth of information on these topics here at ASF and I would encourage you to INVEST some time on research (if you haven't already) before you jump in.

Would you chuck $5,000 on a single horse to win a race? Some wouldn't bet $2, but that isn't the point. The biggest risk you face here is being under capitalised, which tends to push people towards gambling and away from trading or investing.

That's not to say that it is impossible. There are many, many posters here that started with $5,000 and now trade much larger accounts. Many have been lucky and at some stage will be found out, but some have developed the necessary skills to be successful in the long run.

Your first step is to come up with realistic goals, then develop a plan to achieving that goal. Look at your expertise - is it mathematics, or a particular industry you're familiar with? Leverage that experience in your plan to achieve your goals. If you don't have the necessary skills to carry out your plan, go get them first. The particular stock(s) you buy will be an outcome of that plan, rather than the start of it.

Good luck! The market is an unforgiving teacher, but the journey is a rewarding one.

PS. I want to remind everyone considering posting stock recommendations of ASF's policy on ramping. We take it very seriously and you WILL be given infractions for ramping, so please don't get too excited and support your statements. Accrue enough infractions and you will be unable to post at ASF for a period of time. Lets work together to make ASF a valuable resource for everyone.