Hoping some of you might be able to help me.
Background: 29yo married with family, engineer. In other words, conservative as all get out Have dabbled in the stockmarket and have a small portfolio, all funded out of our own pocket (no loans). Have the tried and true like Coles, CBA, Telstra1/2/3 etc. Lately took a punt on a couple of interesting stocks (eg AMP China Growth Fund) and dabbled with some of the bigger Uranium stocks (eg PDN, though I bought only yesterday). Also totally mistimed buying BHP Billiton some time ago and bought at 29.90 Who said you can't go wrong with bluechips no matter when you buy
Anyway, I'm looking to start playing the game a bit more and move away from blue chips, and also looking at a margin loan eventually to get some leverage. More Uranium and Gold stocks maybe, plus Biotech and Energy.
I have two aims - for some I am investing for the long term - eg CBA - maybe 20yrs. Will only sell when it comes to big life events - helping my children buy a house, etc. However I'd also like to realise some short term profit as well - not necessarily day trading, but buying and selling within the 1 year.
So I'm after a few recommendations.
Books - what should I read to learn about how to 'read' share charts? I mean I know the basics, but how to read trends etc I guess. And I guess what sort of size share parcels to buy, at present I buy based on price and $1500 total seems to be my sweet spot / confidence level. (Except BHP where I bought 200 shares at $29.90ea )
Brokers - who is a good one? Initially I would continue with our own funds, spending between $1k and $2k on various companies. I currently trade with Sanford.
Stock info - Lack of information frustrates me, I hammered the heck out of the asx site with delayed prices and charts the other day. I'm thinking of paying $9.95 / mo for Sanfords premium package to get live charts, etc, but I wonder if I can get the same level of info for free elsewhere? Charts with price and volume (I know I need at least those), watch screens, market reports, news etc are the kind of thing I'm looking for, I guess.
Software - Is there anything good for analysis, or are the tools provided on some brokers' sites pretty good? I get daily emails from Sanford with closing prices (in insight trader format, which I don't have but I've learnt the format of the file and browse it with notepad).