• Australian (ASX) Stock Market Forum

Courses For Real Estate?

Discussion in 'General Investment and Economics' started by darkhorse70, Jul 12, 2016.

  1. darkhorse70

    darkhorse70 Well-Known Member

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    Hey peeps,

    Long story short, I need to start hedging against risk (in this case trading as a career) hence Im trying to diversify my skills = Property. The reality is property is a commodity and is subject to the laws of any market (supply/demand).

    My question is, is there any specific course I can do related to real estate which will allow me to understand all the aspects of investing,flipping property, evaluating land worth etc.

    If not, do any of you guys have any recommendations on how I can approach this field.

    Thanks in advance,

    DH7
     
  2. pinkboy

    pinkboy Well-Known Member

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  3. darkhorse70

    darkhorse70 Well-Known Member

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    Thanks PB, cool avatar by the way!
     
  4. VSntchr

    VSntchr Well-Known Member

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    Where are you at with your trading at the moment DH? Haven't seen you post for a while.
     
  5. pinkboy

    pinkboy Well-Known Member

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    Climbed Mauna Kea, Hawaii. Hardest climb in the world. Second hardest thing Ive done on a bike!

    pinkboy
     
  6. darkhorse70

    darkhorse70 Well-Known Member

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    Hey VS, still struggling unfortunately. I've been focusing on CL the last few months, but after blowing up that small account trading Live on CL, i just started trading on CFD's. I am still trading and jotting down plays but I guess I lost faith in my self and my abilities (If ever I had any lol).

    I guess I've sort of given up on trading as some thing that must happen and in a way it's better because I can just focus on refining my bad habits without having any hidden motives (I.e getting rich or being a good trader). Unfortunately my parents don't support the idea of me pursuing it and every time ive blown up an account and you have to face them, they just shake their heads. That constant disappointment of failing and failing gets tiring. Every time I take a few weeks time off I just realize it's some thing im passionate about.

    However my dad wants to get sort of involved with property and I realized that they are similar commodities so im transferring the skills ive learnt here to at least be useful some where else. I need to view the market place as a place to make money when the time is right instead of a place where I come to prove my ego. The shift to property will be good for me I believe. It will allow me to look at risk in a different manner (cash inflow/outflow etc) and I can transfer that mindset to trading instead of just viewing it as entertainment and being right.

    I'll keep a close eye on the markets and only paper trade till I can prove to myself that I have the right to trade real money. I can spot opportunities but my timing, patience and ego are a big issue which I need to clear up.

    After my short stint with the prop shop, all I cared about was the rush and excitement. Paper trading is so boring for me but I havent earned the right to trade real money. My expectations are way to unrealistic and if people think that it takes a couple of years to extract consistent money from the markets, then theyve got another thing coming (me included!). Some people might be the exception.

    The truth is we can't all be great traders.

    Hopefully it doesnt sound to gloomy lol
     
  7. darkhorse70

    darkhorse70 Well-Known Member

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    haha Awesome, you should be proud. The only thing I do with my MTB is go down hills and practice manuals haha. That remnds me, I need to change the brake pads today!
     
  8. Roller_1

    Roller_1 Well-Known Member

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    Darkhorse have you considered a systematic approach to trading, i'm not sure exactly your style but i gather that you're a more discretionary trader. That way you can backtest it and have a idea of what to expect? A bonus being your parents might appreciate it too...
     
  9. Gringotts Bank

    Gringotts Bank Well-Known Member

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    Gday DH,

    The problem with trading is how common failure is. Failing can make you feel bad, and feeling bad makes for poor decision-making (if certain other traits are also present). Very few jobs allow you to work really hard for years on end and end up with less $ than you started. The potential for stress is more than most can handle.

    Since regular failure is part of the game, knowing how to handle it is paramount for discretionary traders. I've started (again!) monitoring thoughts and feelings before and during trade decisions. I know my set ups, but I don't know myself well enough. I'm confident this is going to be the key for my discretionary approach. It should also help my systematic approach, since I have a bad habit of overriding the computer.
     
  10. pinkboy

    pinkboy Well-Known Member

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    I like to think Im pretty handy on a Mountain bike as well!Screenshot_20160712-185032.jpg

    pinkboy
     
  11. CanOz

    CanOz Every day above ground is a stellar day!

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    PB, awesome stuff! ASF has a famous GB record holder, how cool is that!!:xyxthumbs
     
  12. History Repeats

    History Repeats Well-Known Member

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    Darkhorse, you need to stop keep changing your goal every time. Correct me if i'm wrong, you started of with futures, then going prop doing spreads, and lastly trading CL. And now you want get into property? If you don't have a lot of capital for trading how are you getting into the property business, you hedge your future with a uni degree not this property flipping.

    If you really really really want to succeed in trading then take it more seriously. Continue study at uni or high school don't drop out, have a part time job or two start saving money, stop trading with real money and start doing research on everything. Once you have a plan then start trading small. If you really want to trade in between when you have an actual plan, open a micro account trade forex.

    Start researching within here and other forums, go through threads from tech/a, trembling hand, pav ect. I.e: the breakout thread by tech/a, technical trading exercise thread from tech/a and pav, pav futures. I don't know if allowed to posted another forum link so i will just post the title you can google yourself or pm i send the link. Here is one that will help you build an actual trading plan, "NoDoji's Trading Plan Development".

    Good luck.
     
  13. darkhorse70

    darkhorse70 Well-Known Member

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    Hey GB, I agree with every thing you're saying. One of the crucial parts of keeping your morale high is progress which is a kind of mental reward. In trading, you can view progress in many ways but I guess most of us look at the bottom line which is $ which is wrong but when you don't make any progress, you run out of steam.

    ATM Ive just been on auto pilot and have not really been monitoring my thoughts and feelings. I agree that having a some what systematic approach is good especially when it comes to taking profits and cutting losses.

    Im working on it haha
     
  14. darkhorse70

    darkhorse70 Well-Known Member

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    Roller, I did for a while but I gave up trying to process and understand the AMIBROKER stuff.
    It felt like an entirely new venture and one that needs its own time dedicated to it however I am going to try break down risk in a more systematic way. I believe that it will allow me to have a different perspective of when to take trades and when its not worth it.
     
  15. darkhorse70

    darkhorse70 Well-Known Member

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    Thats crazy man. That sure would make an impression at an interview.

    I cant imagine cycling from Sydney to queensland in a day or two haha.

    Hopefully the journey was pretty flat.
     
  16. darkhorse70

    darkhorse70 Well-Known Member

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    Hey History, well ill attempt to argue your points just to get the story straight (not that it matters).

    I started trading equities or learning about them,transitioned to futures and then with the help of Canoz kept learning before I got into that prop thing. Then I was forced to learn spreads (not that it was a bad thing but not feasible). After that there was a short duration where i tried to pursue spreads and tried out for Propex (not successful).

    Then I realized that I was actually doing ok trading outright bills and treasuries.

    This was all mostly sim before realizing that there was more pay off in future commodities and indexes and then I went live, blew up a small account. I continued to trade fut commodities like Oil and still am doing so. I havent really done any back flips. Just slow transitions into markets of interest.

    ON the contrary, I was in uni 3 years ago before being suspended for 12 months (failed accounting 3 times) and after that all my time was devoted to trading. I have re applied for uni 6 months ago and havent received any offers. Property is not much different from trading. They both have cash inflows and outflows, both are related to risk, trends and economic conditions.

    Ill look up that trading plan,thanks for that.

    Ps ive approached the markets in many unconventional and at times stupid ways but thats what learning is about. Testing the waters for yourself and not just doing things the way which the greater general preach.
     
  17. Roller_1

    Roller_1 Well-Known Member

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    What sort of brokerage were you paying with your small accounts? I think you'll find with a small account commissions will make it very hard to consistently be profitable.

    Even if you're paying $6 per trade for 100 trades ($6 in, $6 out) thats $1200. So on a $5000 account to need to make 24% just to breakeven.

    You might not be in that situation but it may help
     
  18. darkhorse70

    darkhorse70 Well-Known Member

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    I was with IB and also amp futures and yes you are right. The brokerage fees never help especially when focused on shorter term plays. I atleast paid a few thousand in brokerage fees and even on cfd's, the slippage is so wide.

    They are a killer
     
  19. ThingyMajiggy

    ThingyMajiggy Well-Known Member

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    They may be more of a killer on shares, but not so much on CFDs or futures? AMP do $500 margins for the ES and usually around say $2.50 RT to trade it, with 1 tick being $12.50USD, literally 1 tick and you're in profit and covered brokerage? And CFDs it depends what you're trading, but usually 1 point spread and no comissions at all on indices. Doesn't get much better/cheaper.
     
  20. Roller_1

    Roller_1 Well-Known Member

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    Yeah ok, i don't have much knowledge about futures or CFDs. I thought that CFD brokerage was fairly high? You pay for the margin loan on CFds though don't you?

    But small accounts on stocks you are almost setup to fail especially in AUS the US isn't so bad.
     
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