Where do I start - trading resources? - Aussie Stock Forums

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  1. #1

    Default Where do I start - trading resources?

    Hey Guys

    I've been searching the net for stock trading info for a little while now, but I'd like to get serious and start doing some real study.

    I would like to first start off and learn a little more about the basics of share trading and then get stuck into charting and tech analysis.

    So far I haven't had any real structure to what i'm actually doing [read: flying by the seat of my pants]..

    Can anyone recomend me any books or online resources for the absoulte beginner (ideally purchaseable from within australia)? (I'd prefer to stay away from courses at this stage).

    Thank you.

  2. #2

    Default Re: Where do I start - trading resources?

    So far I think the book by Daryl Guppy - "Share Trading, an approach to buying and selling" will be a good start (though doesn't appear to be available on the moneybags site)

    As far as a technical analysis and charting book that seems like a harder decision.

  3. #3
    Administrator Joe Blow's Avatar
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    Default Re: Where do I start - trading resources?

    Quote Originally Posted by AndyMc View Post
    So far I think the book by Daryl Guppy - "Share Trading, an approach to buying and selling" will be a good start (though doesn't appear to be available on the moneybags site)
    Hi Andy - You can find Guppy's 'Share Trading' here: http://www.******************/default....=2703&c=0&a=74

  4. #4
    Commonsense isn't that common nomore4s's Avatar
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    Default Re: Where do I start - trading resources?

    Another good book is Nick Radges - Adaptive Analysis for Australian Stocks.
    Alot of good info in it and its fairly cheap too. I found it very good, easy to understand and some good princples in it.

    Good luck
    All things are difficult before they are easy.
    Keith's Art

  5. #5
    SGB's Avatar
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    Apr 2007
    Glenmore Park NSW

    Default Re: Where do I start - trading resources?

    Hi AndyMc

    A question we have all asked at one particular time in our lives. Where do we start?

    There are many theories, trading systems, styles and personalities to trading. Everyone will experiment and develop their own brand or style of trading or investing to suit their own needs. It does take years to develop a consistent approach and many people are still developing their own style.
    Through my experience you need to understand 4 very basic principles before you start.
    1) Technical Analysis
    2) Fundamental Analysis
    3) Psychology
    4) Brokerage

    1) Basic Technical Analysis Ė Start drafting own charts, donít rely on software until you understand how to do a bar or candlestick chart. Learn how to implement the swing on your bar chart and study higher highs and lower lows. Stand back and look for a trend channel and spot certain support and resistant lines. This can be done be staring at that wall chart day in day out until it becomes natural. When you get more experienced then start learning the more complex principles such as Gann and E/W.
    2) Basic Fundamental Analysis Ė What environmental factors are going to influence the equity youíre about to buy? Learn to read P&L Statements. Can this company go belly up if I decided to go longer term investment? Whatís happening in the World! You donít have to be a professor to keep an ear out to how the world is economically shaping up.
    3) Psychology Ė This is the voice in side speaking. All your thoughts, all your coping mechanisms. This is where youíll draft a plan and to see if you can cope with the decision you have made. There is fear of loosing money, joyment in that 10% gain in 2 weeks; youíll lay at night wandering if gold, oil or whatever commodity is performing while you lay there. The technicals looked good but the fundamentals have let you down. Do I panic or do I put faith in my decision. Youíll experience a many of emotions but only you can unfold your own coping limit. Thatís done through experimentation and experience.
    4)Brokerage Ė Now after you have paper traded for many many months and are confident with 1),2) and 3 the decision is who is going to have your service. Remember you are the customer, and you have to have a brokerage company that can fulfil your needs and your style of trading.

    There is plenty more to learn and I am no expert but this might be a good starting point for a quick overview. Read Read Read
    I wish you well.

  6. #6

    Default Re: Where do I start - trading resources?

    Thanks SGB for great information..

    And to the others who recomended books. I've just ordered them and will be swimming in knowledge over the next few weeks.

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