Australian (ASX) Stock Market Forum

Where to start?

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I'm new to stock trading, only being 20 years old, and im looking at investing about 5,000 for now. So I want to learn as much as possible about trading and investing. Can anybody recommend any books that would be good reading for a beginner? Also any tips about where to start would be helpful, im going to use commsec.

cheers for the help
 
Goat,

this kind of msg comes up often, so perhaps try searching through previous threads in the beginners lounge. Also check your msgs as i will PM you.

enjoy!
 
No Idea where to start

Hi
I was talking to some mates the otherday about shares and long term investments. But i have absolutely no idea where to start. I have been looking around the forum but it all makes no sence, things like divid ends, blue chips, fully franked shares, it all means nothing to me.
So i was wondering where i can learn about all the meanings and how to get started in the stock market (for investments)
 
Re: No Idea where to start

Probably look in the forum bookshop for some beginners material and the Australian Stock Exchange (ASX) site has a lot of explanatory material.

http://www.asx.com.au/
 
Re: No Idea where to start

ubergeek said:
Hi
I was talking to some mates the otherday about shares and long term investments. But i have absolutely no idea where to start. I have been looking around the forum but it all makes no sence, things like divid ends, blue chips, fully franked shares, it all means nothing to me.
So i was wondering where i can learn about all the meanings and how to get started in the stock market (for investments)
Click to expand...

Before you start, make sure you read a couple of good books about trading and money management. Practice some paper trading as well.

The Art of Trading by Chris Tate is well worth buying.
He offers a lot of wisdom and practical advice before you enter the Sharks Arena.

Cheers markcoinoz:)
 
Re: No Idea where to start

Go to your local library and borrow a few books to get you started.

Cheers

dutchie
 
Hi,

im not a trader yet but i am keen to learn, i have been looking at lots of threads on this site and it’s clear there are lots of people who really know their stuff but it’s also clear that i have a lot to learn. Does anyway know a good place to start learning the basics or a course where i could start trading small and learn as i go. I learn better when i’m doing practical stuff rather than just reading :)

Is this a stupid idea, can you learn this sort of thing as you go or do you need to be completely up to speed before i start?
 
stewysurf said:
... Is this a stupid idea, can you learn this sort of thing as you go or do you need to be completely up to speed before i start?
Click to expand...

Hi stewysurf,
Welcome to ASF

First of all, without being rude, its your money!
No-one here would hazard an answer! (well, nearly no-one)

Most will advise paper trading.
Some-one will be along presently, who knows about such things.

GL
 
decide what you want to do then work out what you want to learn from that field
else you be over whelm with a lot of information and strategies.
stock market is huge with many participants and countless strategies and many ways to put your money to work.

you want to be

1. an investor?
2. trader?
3. investor and trade on the side?
4. trade and invest on the side?
5. you want to go down FA or TA path?

narrow your starting line then expand as you acquire more knowledge
 
Go to the ASX website, www.asx.com.au and look for the link to "Education". It will give you individual modules, which you can self test at the end of each one, that you can work through to acquire a basic understanding of how the market works, the different approaches to investing or trading, and more.

When you don't know what you don't know (with apologies to Donald Rumsfeld) you need to understand the absolute basics before deciding what direction you want to go from there.

PS Understand that for most of us, it has been a protracted learning period before knowing enough even to start.
If you go a step at a time, it's achievable. Good luck.
 
Someone said most will advice paper trading--I don't. I started trading real time and I'm glad I did and many big time pro traders advice that learning to trade with real (albeit small) money is better because it prepares you for that big brick wall that is emotion and psychology. You will be the biggest enemy to your success. The sooner someone tells you that the better.

So trade small and learn to be consistent first. Prove you can grow a small amount of money with several wins and not just one win before you go all out. Oh and journal all your activities--trust me on this one.

I wish my trading bootcamp video series was complete so I could say "come to my website, I'll take care of you" but it's not (I only have one video so far) so I'll have to point you to Grok trading because they have free basic lessons on trading. Actually lots of free lessons everywhere on the net and it's funny that some trading courses/seminars will charge you $5,000-$10,000 for that same free info, hah!

Anywho, one last recommendation: Investopedia will give you definitions/explanations of whatever terms you are not familiar with.

Anymore questions? Just ask.

P.S. Learn to look at candlestick stock charts, even if you decide on "investing."
 
All great posts so far, so Ill keep up the trend and wont post rubbish like usual:


Working the same angle as ROE here, what do you want your trading to do for you?

Work out your end goal and work back from it. For example, say you want $X0,000 income in Y years. How much $$$ returning Z% per annum spread over your time period? Work backwards from there to work out what you can afford to do at the moment, or work it so you know it will take Y years to get the level income you require.

This way, you have something you're working towards. No good throwing cash all over the place and BHP. Remember no strategies are the same, and all will require at least some knowledge. That knowledge can be sought from many different places, including here, books, online, seminars. Personally, most of the free or low cost advice is best bang for buck.

Stick around.


pinkboy
 
Thank you to everyone for your replies. They were great and even more detailed than i expected.

I can see both points of view. I think ideally you need to learn your stuff before you start, but if i do start with real money i think i'll definitely learn a lot faster.

I'm thinking rather than losing money i should spend it on getting proper training. I have been approached by Wealth Within who have said they can teach me how to trade and after i complete the course i'll be able to get a job with a trading firm. It sounds amazing, they have said I should be able to get at least 20% per year returns. The cost of the Wealth Within course is nearly $6,000, it's a lot of money but if I can start trading like a professional it will be worth it. Does anyone know about Wealth Within? Would this be a good way to go?
 
Look there are good educators around.

The problem is you need to know what it is you need to know.
Anyone can show you a zillion indicators and put them on a chart
You can learn how to value a company.

But how to PRACTICALLY APPLY this knowledge into a way of trading PROFITABLY is very very rarely shown.

They sell you the chapters many you don't need to know but fail to cook the recipe's in the book.
 
Thanks tech/a...i rang them and asked for audited statements like you said and it was a bit weird. The fella I was speaking to started getting defensive and just kept saying they were the best course available. He put me onto his manager who seemed to know what he was talking about and apparently it is not possible to do. So i need to work out whether they will be worth the $6,000. It's also another $1500 for trading software to go with it. Starting to get pricey, has anyone on here ever actually used Wealth Within?
 
Where do I start?

OK, I am brand new in here and hope I don't ask too many dumb questions. I am only here because of GOOGLE:confused:, so at least it is not my fault.
I am 74 and retired, and not had any shares since the mid 1980s up in Kalgoorlie. My wife and I would like to have a dabble in the Medibank thing, but need some guidance:(.
So, can somebody tell me what I have to do with regards to registering with a share trader, and how to get shares online, as being in Carnarvon I am 1000 Kms from the city. You will not offend me if you use kindergarten language as, I want to get it right. I am thinking of buying $1,000 worth to start with, and when they increase by 50% sell 50%. If that is a dumb plan please tell me as I am open to suggestions. I have Netbank and am fully familiar with all that money transfer stuff:xyxthumbs.
GO.
 

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