• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

Ever taken a big punt that has changed your life?

Discussion in 'General Chat' started by Ken, Jan 11, 2008.

  1. Ken

    Ken

    Posts:
    1,198
    Likes Received:
    0
    Joined:
    Aug 22, 2005
    Just wondering if anyone out there has taken a punt a stock that has paid off and changed there life, for better or worse?

    Interested to hear some good and bad stories.
     
  2. son of baglimit

    son of baglimit

    Posts:
    1,200
    Likes Received:
    0
    Joined:
    Mar 20, 2005
    come back and see me in 3 years, and i'll tell the full story, as its still developing.

    a punt....in the true spirit, yes - a punt on a horse that won at 20/1 and financed many happy happy years - and hence my nic.
     
  3. So_Cynical

    So_Cynical The Contrarian Averager

    Posts:
    6,909
    Likes Received:
    531
    Joined:
    Aug 31, 2007
    Well there was 1 punt i didn't take that may of changed my life, if a had put the money on as planned, everything
    may of turned out different...certainly one of the worst days of my life would of had a spectacular turn around.

    Its hard to believe in your judgment when u have almost lost everything.:rolleyes:
     
  4. Joe Blow

    Joe Blow Administrator Staff Member

    Posts:
    9,422
    Likes Received:
    1,381
    Joined:
    May 28, 2004
    A couple of years ago I decided to quit my job in publishing to try and make a go of a stock forum that I started as a hobby.

    So far, so good. :)
     
  5. tech/a

    tech/a No Ordinary Duck

    Posts:
    19,073
    Likes Received:
    2,963
    Joined:
    Oct 14, 2004
    Yep
    12 yrs ago.
    Started buying property,had NO IDEA there would be a boom but kept buying as equity increased in each property.Maximum held 10.
    Have sold 3 and now have an LVR of 38%.

    Friends thought we were nuts.

    In that time business has expanded 300% due to more capital available.

    So from Average to well above average.
    In the whole scheme of things trading is only a small % of investment and business,did OK there to,but also suspect more to do with market conditions than Brains.

    Recognise opportunity
    Take advantage of opportunity
    Then DO IT
    that's where most fail!
     
  6. 2020hindsight

    2020hindsight

    Posts:
    9,985
    Likes Received:
    1
    Joined:
    May 28, 2006
    Did a bit of travel back there somewhere - jumped on a yacht, and "went where the wind blows " ;)
    lol - reminds me, son of baglimit, (and I'm not about to abbreviate that to SOB lol )

    I went through a stage of putting on some bets on horses (about 6 months till I decided it was a complete waste of time - in that the best outcome over time would be to come out square) would spend all Saturday morning working out which horse would win which race.

    Took the tram to the races in Brisbane, put $20 on a horse called Quick Dollar at 20/1, it won, decided to enjoy the moment - got a taxi home. Realised the error in my ways. And haven't bet on the horses since lol. (except for Melb Cup). Got my Saturday mornings back! - changed my life lol.
     
  7. moXJO

    moXJO menace to society

    Posts:
    5,300
    Likes Received:
    1,203
    Joined:
    Aug 15, 2006
    Was talking to my accountant and he mentioned how a client had bought a few million of 1 - 5 cent stocks. Apparently he didn’t bother to look again until 2006 and asked for the accountant to check the prices (don’t think he even remembered what he had bought).Cant remember the exact figure, somewhere between $800k & $1.2 mill. He musta felt like he won the lottery. Bugger was already well off
     
  8. tech/a

    tech/a No Ordinary Duck

    Posts:
    19,073
    Likes Received:
    2,963
    Joined:
    Oct 14, 2004
    MoX

    similar story.

    A friend of mine I found out at Xmas had bought 1.2 mill Flinders Diamonds
    and had bottom drawed them.He had been having a go at trading for a living and had 3 stocks with well over a million shares in each which had tanked.

    He couldnt take the loses so just went and got a job erecting fences.
    He had forgotten them.
    His broker called re Flinders when they flew and one other which I cant remember---both took of at around the same time.
    Anyway he sold them both at near their top and has now bought 2 blocks of land and is going to do some developement.

    Another.
    When I first did technical analysis course with the securities institute back in the 90s I be friended a young guy working for a broker.
    He told me he had 100,000 Davnet,and had paid 6c. We kept in contact and he got a job in Sydney so we emailed for a few years.

    Anyway Davnet went to $7.00 odd and I remember asking him what price he would sell at.
    He said this is my chance to make the magic million,so held.
    A few months later he emailed saying he had sold at $3.65.
    He went and paid mostly cash for a $500,000 property in Sydney back in the 90s.Not bad for 27 yrs of age.

    So it happens!
    I have quite a few mate stories and aquaintences.
     
  9. nizar

    nizar

    Posts:
    4,461
    Likes Received:
    0
    Joined:
    Jan 5, 2006
    Great stories guys, keep them coming.
    Mine is still.... Coming Soon... lol.
     
  10. MS+Tradesim

    MS+Tradesim

    Posts:
    1,130
    Likes Received:
    0
    Joined:
    Jun 14, 2007
    Well, in September I achieved my goal of getting my wife out of her job and we have now semi-retired to the beach in our early 30s (semi in that I now trade full-time which I don't consider work, it's a passion). I took two large high probability fundamental buys in 07 as well as my systems and discretionary buys. It would have taken me 23 years in my previous job to have earnt the same amount that I took from the market in the second half of 07. :)
     
  11. Rafa

    Rafa

    Posts:
    1,035
    Likes Received:
    0
    Joined:
    Dec 14, 2004
    Congratulations.... that is great to hear...

    i think i am going to fail in my goal for retiring by 30, but i have succeeded in my other goal of paying off my house... and have about 200k left over.

    there hasn't been one single big punt tho, just a series of smaller punts that have doubled... i still haven't bought a stock for 1cent yet that has turned into a multi bagger :(
     
  12. nizar

    nizar

    Posts:
    4,461
    Likes Received:
    0
    Joined:
    Jan 5, 2006
    Thats phenomenal.
    You're my hero! ;)
     
  13. prawn_86

    prawn_86 Mod: Call me Dendrobranchiata

    Posts:
    6,637
    Likes Received:
    4
    Joined:
    May 23, 2007
    Yeh im in the same boat Nizar. Im also patiently waiting for mine to happen. :D
     
  14. sam76

    sam76

    Posts:
    1,943
    Likes Received:
    1
    Joined:
    Mar 23, 2005
    Didn't Prospector have decent holdings in both pdn and fdl when they were unknowns?

    (Sorry for dobbing you in, Prospector) ;)
     
  15. MS+Tradesim

    MS+Tradesim

    Posts:
    1,130
    Likes Received:
    0
    Joined:
    Jun 14, 2007
    Prawn, Nizar and Rafa,

    I'm confident it will happen for you guys. Look at your situations. Prawn, you're a student but learning about the market. I wish I'd started a lot earlier than I did. Rafa, you're in a great position. Paid off your mortgage and have a nice chunk for investing plus income that's no longer going into a mortgage. Nizar, you understand what's important such as risk, expectancy. You're committed to learning as is evident by your interest in FX. And the list of positives for you guys go on!!!

    I think the Market Wizard books demonstrate one thing clearly - it doesn't matter what approach you have for the markets. If you have an edge, control risk and learn from mistakes then the future is bright.
     
  16. sam76

    sam76

    Posts:
    1,943
    Likes Received:
    1
    Joined:
    Mar 23, 2005
    Is there one particular Darvas book you would recommend?
     
  17. MS+Tradesim

    MS+Tradesim

    Posts:
    1,130
    Likes Received:
    0
    Joined:
    Jun 14, 2007
    Sam, I have very little knowledge of Darvas trading. I was talking about Jack Schwager's Market Wizards series which compile interviews with top traders.
     
  18. sam76

    sam76

    Posts:
    1,943
    Likes Received:
    1
    Joined:
    Mar 23, 2005
    cheers for that. I did a google on "Market Wizards" and his book came up.

    "How I mde 2,000,000 from the stockmarket" had reviews from Nick Radge, Colin "whats his name" from incredible chartsand Louise Bedford

    Lucky I checked, hey.

    I'll check out this other fella - ta
     
  19. ROE

    ROE

    Posts:
    2,966
    Likes Received:
    15
    Joined:
    Jan 5, 2007
    Yeah bought T1 with all my saving when I was in my very early 20's
    Love stock but didnt understand it then but bought it anyway
    There was no internet comsec back then and I remember catching a bus to my local stock broker and another 15 minutes walk in the Sun

    Sold out at $8.20 when I need to buy a place to live and it paid 30% for my deposit on the home..awesome.. :D

    Much wiser now :) in picking stocks and still deliver handsome profit
     
  20. mick2006

    mick2006

    Posts:
    667
    Likes Received:
    0
    Joined:
    Sep 11, 2006
    With the profits from the sale of one of my investment properties, I bought 250,000 shares in MCR for 40c, and was certainly very thankfull for the Chinese led nickel boom, sold out when MCR hit $4.

    This one trade certainly changed my life and also allowed me to become a more confident short term/momentum trader which has further multiplied my net portfolio worth.

    I think the whole resources boom has been a life changing event for a lot of share traders, without the whole China/India effect a lot of people's lives would be a lot different.
     
Loading...

Share This Page