Hi all
I wish to learn all I can about Share trading can anyone direct me towards a good book,Seminar,
or Url Where I can start my journeyThank you
Well do you really mean share TRADING or do you mean investing? If trading, I suggest the Guppy series. Anything by Chris Tate is also easy to follow. I found Chris Temby to be a shocker, same with Louise Bedford. Read at least 20 or 30 books before placing your first trade.
Best read is “trading for a living” by Elder.If you mean investing:
Hi allI wish to learn all I can about Share trading can anyone direct me towards a good book,Seminar,
or Url Where I can start my journeyThank you
A lot depends on your goals, how much time you want to devote, your starting capital, your risk profile, and your personality/psychological profile; just to mention a few points.
Tell us more and we will be able to help.
Wayne
P.S. just don’t get sucked in to paying thousands of dollars for a course.
The fair dinkum ones are generally quite reasonable at a few hundred dollars….and as crashy suggested read lots of books.
In particular, read books and or do/ courses where the metaphore used suits you.
For instance the Guppy Series, though undeniably fantastic material, I personally found the metaphore not suitable (for me). But obviously they may make perfect sense to somebody else. Have a good flick through the books before you buy them.
cheers
[email protected]Ok my goal is to build a minimum of 1 million dollar’s in 25/30 years
Starting capital $10,000
I don’t really want to become a full time day trader type but i would spent say 4/5 hours a week tradingI guess I would like to do the same type of thing Steve talked about in his book
Using +cash flow property investing income to build a nice packet of money on the share marketRisk profile I’m not sure what you mean on this one so i can’t answer it
Psychological profile again not sure what you mean all I can say is I’m in it for the long hall
PS I’m very new to trading so if my last couple of comments are unrealistic please let me know
or better still tell me what’s possible so I can get a better idea where I can direct my efforts
Im all ears
Thank you
Best book I have read on the share market was all about psychology, called TRADING IN THE ZONE. Any decent investment type bookstore should have it. Hometrader run a good course but it is about $5k. There are plenty of swindlers out there charging bick bucks for garbage. If you are considering any courses this forum might be a good place to ask if anyone knows about them.
Cheers Deano
Deano has touched on as good point with his book suggestion; and that is the psychology of trading.
The actual trading techniques are not hard and learnable by nearly everyone, but psychology is very important is where most people trip up.
I used to punt on the horses professionally and that is where I learned about psychology…and money management.
And that is another big point about trading, take the time to learn good money management, particularly with a small starting bank, it will make a BIG difference to your bottom line.
Don’t get perturbed by these concepts. They will sound quite esoteric to the newcomer. It’s just a matter of studying and grasping them, just like important property investing concepts.
Go along to Borders or one of the large bookshops…or even the library; there are dozens of books on the subject.
hi all
Waynel
Do you still punt on the horses professionally or semi professionally.
regards
alf
hi allWaynel
Do you still punt on the horses professionally or semi professionally.
regards
alfAlf,
No not anymore, it’s a tough living and having a soft spot for animals, I couldn’t stand the stuff that happens on a racecourse from time to time.
Then I was at Moonee Valley watching a hurdles race and a horse fell and died at the last jump…virtually right in front of where I was standing.
That was enough for me.[
]Cheers
WayneNative_Metal,
Contact your local ASX – they run course and also you can contact a local stockbroker, tell them what you are interested in and the better ones will have information to help you, mailing lists for monthly newsletters etc.
Agree with the authors mentioned. aslo you may like to look at what’s offered by lincoln – stockdoctor – there is a web site.
bribie
Ok my goal is to build a minimum of 1 million dollar’s in 25/30 years
Starting capital $10,000
I don’t really want to become a full time day trader type but i would spent say 4/5 hours a week tradingI guess I would like to do the same type of thing Steve talked about in his book
Using +cash flow property investing income to build a nice packet of money on the share marketRisk profile I’m not sure what you mean on this one so i can’t answer it
Psychological profile again not sure what you mean all I can say is I’m in it for the long hall
Risk profile: you need to ask yourself a few questions. If you lost your 10,000 starting capital, how much would it hurt your finances. Would it be devastating or is it money that, if you lost it’ would’nt bother you in the slightest. Where in the middle of these two extremes you fall will determine your risk profile
personality/psycological profile. Are you stoic, nervous, cautious, reckless, tenacious. Are you psychologically equipped to handle numerous losses in a row. If you have a few wins in a row, will you believe you are a genius, or indestructable. Do you have the disipline to design and stick religiously to a well thought out trading plan. Do you feel a need to be right?How would you react if you bought some shares and they immediately started moving strongly against you.
Not trying to overwhelm you but the answers to these types of questions will determine whether you will be a long term investor, a short term trader, or somewhere in between.
It is important to analyse yourself honestly so-as not to end up another stockmarket statistic.
To turn $10,000 in $1million in 25 years; (assuming you never took money out and never added another cent of capital) you would need after tax compound returns of 22% p/a.
This is not hard to do IF you have all the factors above sorted out satisfactorily. It is incredibly difficult to achieve if they are not.
Good luck
Wayne
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