Forum Replies Created
Dallas,
This is their web adress http://www.mcit.biz/emo1/. The stock market along with property is something i am very interested in as i think thet go hand in hand. Any ideas on where to get started would be appreciated.your absolutely right.. my plan was to trade, and bleed off the profits (once i had a suitable capital base) into property.
think about this… most of these programmes have been based on past data, and you are meant to use them on future data?? see my point??[
]if you want to get started, i’d recommend the same as mentioned, ie buy lots of books and study, study and more study. The only difference is that you can do an apprenticeship so to speak, paper trade whilst you are saving starting capital and this will give you an insight into your behaviour and your trading style. from this you can refine your trading plan to be most cost effective. Don’t chase profits, rather strive to be a good trader, and the profits will follow.
There are heaps of books out there – some good, some bad. Anything by Louise Bedford is great. I’ve got all her stuff, and she’s really good, the books written for the Aus market… also Chris Tate is good.
Good LUck!
cheers
Dallas
wayne,
spot on mate. I’ve only just started learning the ‘art’ of trading, and have been paper trading for the last 6 months whilst i’m building starting capital… technically it’s not that hard once you understand the ‘rules of the game’, but it’s the emotion and psychology that’s the difference between a sucessful trader and an educated gambler…same as IP investing i reckon… this all seems hard and daunting to me at the moment, but once you get to know some of the tricks and tips, it all unfolds… another reason most fail is that most don’t understand the psycology of the market, and don’t have a trading plan and diary. These are the keys IMO for sucess in the SM.
cast your minds back a few years when the stockmarket was the favourite, and RE was out… now as market cycles move up and down everyones attention has shifted to RE.. sound familiar??… i feel that in the next few years the RE market will be very tough indeed, and everyone will shift their focus back to the stock market once there are reports of big gains to be made…
and btw, i know alot of people who are making pretty good gains in the market atm, and once the ‘boom’ hits, they will be the next people on Today tonight…
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like all investing however, you have to have delayed gratification for it to work…otherwise you’ve just got yourself another job!.cheers
Dallas
Pay down the home as fast as you can and in the meantime find your other investment.Draw money from the home loan to invest. Use a split loian to clearly see the new debt as a seperate entity.
This means that your equity is where it should be against your home and your investments carry as much debt as possible. Assuming these investments pay a return then the interest will be a tax deduction.
thanks for the advice Simon,
yeah, appreciate it’s hard giving advice out to a computer screen[^]. I’m actually meeting with my accountant next week to see how i can minimise my tax via the loan. i’ll bring it up and see what comes out of it.
although with the house prices the way they are at the moment, i reckon i’ll be needing all the cash for the deposit thanks to the wife’s $$$$ taste[
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thanks.
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