Firstly, I would like to thank the ASF community and its members for the invaluable wealth of knowledge this forum has provided to me and I am sure to many others. I have been a long time lurker and not so much of a regular poster. But I thought I would share with the community my stock investing journey to date and give a little bit back to ASF. I guess the main reason for this thread is to motivate myself to trade more actively, continue to learn and take on-board feedback/criticism from the ASF community and hopefully teach a thing or two to the beginners.
Firstly a bit about my current situation:
Dependants: Wife (no kids yet, looking to family plan in 2-3 years)
Assets: Shares $150k, SMSF: $165k, PPOR: $780k, Offset acc: $40k
Liabilities: $520k (mortgage PPOR), $30k vehicle finance (0% interest 4 years)
Income: $200k + pa (gross, pre-tax)
Wife income: nil, stopped working and she has invested $100,000 on a small business (commercial lease has started this month)
Spending Habits/Work/Lifestyle: I spend long hours at work average 10-12 hour a days at work during business hours. My job is unrelated to stock investing/trading more in operations/general management. When I am at work I have no free time to watch/monitor the stock market, so I normally do this in the evening/weekends. However, I am very passionate about investing in stocks and enjoy it. We live a very comfortable lifestyle and spend/buy/travel/eat what we want. Really looking to cut back on spending and save more money. Any excess income will be parked in the offset account.
Financial goals for 2015: Purchase 1-2 investment properties, and actively invest in the stock market with existing funds in personal + SMSF accounts and have returns of 15%+.
Trading methodology: I am a discretionary trader that uses a combination of both FA/TA. I like to go through P&L Statements, Cash flows, balance sheets etc. Also I like to review charts and see trends for a bit of TA. I have to say that I am a risk taker and am willing to take higher risks for higher returns. I normally trade small caps – mid caps (some blue chips). I avoid all resource stocks now... micro caps and any stocks with low volume/liquidity. I also trade in the short-medium term (1 month holding period - 2 years)
Background: I first started trading in mid 2008 during the GFC. I lost circa $80k, I also ventured into CFDs and lost circa $50k. I have been heavily burnt on resources iron ore/oil/gas over the last few years (if I did not my current portfolio would be double of what it is currently… I learnt many valuable and expensive mistakes over the last 7 years.
Trading tools: CMC Stockbroking for ASX trades, Comsec for research/charting, Sharesight for portfolio management. Financial review for business and market news.
That’s all for now folks its late, and I will update my recent trades and current portfolio this weekend.
I will also update/document all my trades with some feedback/reasoning, post monthly updates of portfolio and general feedback for discussion.
Thanks for taking the time to read and if you have any questions please fire away. All feedback/criticism is welcomed.