Any tips for personal trading?? (1 Viewer)

[Cookie182]

Hey,

was just wondering what you'd reccomend specifically learning/reading if one was to start a portfolio- probably just shares to begin with. Im hoping to maybe getting into trading when i grad and i know that firms look favourably upon people with experience (i guess its extra curricular).

any specific areas of knowledge that are crucial- i was thinking of taking the lessons on ASX.com but i assume there is more to it.

Would you start with low risk bluechip stuff and how much will i need intially to make it worth while- currently have about 3 g's (would 5 be better???)

 

[Vagabond]

Well..you've got to decide what sort of trading you want to do...

E.g Long term, medium term, short term, intra-day..

The shorter the time period the more money you need to put in to make it worth your while.

Lots of stock will vary by a couple of % over the whole day. Amateur intra-day traders can make a fair bit of dough putting in 20-30k, trying to make a percent or two, selling out, etc.

Remember brokerage will be about $30 a pop so that's your main consideration assuming you only have a few thousand to throw in.

Arguably assuming the ground doesnt fall from beneath us throwing your money in bluechips, especially banks which are extremely cheap atm, should be a decent medium-term or long-term investment.

As for research I personally only know of a few basic techniques that i've picked up from friends around charting/channeling, MACD for extra piece of mind... Ultimately I go in brands that I believe in.

I have to admit though I think its a little silly for somebody to want to trade for experience for a trading job ... if you know nothing about trading why do you want to be a trader?

 

[Black Hawker]

I recommend playing the ASX sharemarket game (or any others if you can find). It will help you learn from your experiences without having to lose your money.

http://www.asx.com.au/resources/education/games/index.htm

Also, having a browse of share trading forums will help a lot.

I used these two to learn to trade since year 9, and have learnt quite a lot from it. Now I got one of my advice article published in the game newsletter.

Note, I haven't traded in real life yet. Will be hoping to do once I turn 18.

 

[MasterPUA]

Hey,

was just wondering what you'd reccomend specifically learning/reading if one was to start a portfolio- probably just shares to begin with. Im hoping to maybe getting into trading when i grad and i know that firms look favourably upon people with experience (i guess its extra curricular).

any specific areas of knowledge that are crucial- i was thinking of taking the lessons on ASX.com but i assume there is more to it.

Would you start with low risk bluechip stuff and how much will i need intially to make it worth while- currently have about 3 g's (would 5 be better???)

from the sounds of things you are best off investing in bonds and cash.

 

[Affinity]

Find some good stocks then buy and hold... you need some dough and dedicate your time if you want to try anything mor sophisticated

 

[BoganBoy]

right now there isnt any share game going on. asx one i think just finished.

if you want to experience trading then forex trading is not much different. You can register for a free account at FXCM with 50k virtual cash. The demo account is the same as the real thing but you dont use any real money. just search them up on google.

 

[Black Hawker]

right now there isnt any share game going on. asx one i think just finished.

if you want to experience trading then forex trading is not much different. You can register for a free account at FXCM with 50k virtual cash. The demo account is the same as the real thing but you dont use any real money. just search them up on google.

Registration just opened for the 2nd game.

 

[iamsickofyear12]

Put all your money in the smaller resource companies (i.e. not BHP).

 

[ifsonotso_100]

Registration just opened for the 2nd game.

which game- is this the asx one?

 

[Black Hawker]

which game- is this the asx one?

Yeah, the ASX one.

 

[MasterPUA]

Put all your money in the smaller resource companies (i.e. not BHP).

AGREE