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Hello from Perth, WA

Discussion in 'Beginner's Lounge' started by Albinoni, Aug 28, 2019.

  1. Albinoni

    Albinoni

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    Hello to all from Perth. I am new to this Stock Market/Trading game and all this stuff is double dutch to me at the moment but willing to learn and would like some recommendation's on some good books to read or even a good course to take for beginner's like myself.
     
    Skate likes this.
  2. sptrawler

    sptrawler

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    Hi Albinoni, I'm not a trader, so can't help you much.
    But there are some excellent traders on the forum, who readily come forward to lend a hand to those learning, enjoy the ride.
    One word of advice, don't be afraid to ask. :xyxthumbs
     
    Miner likes this.
  3. Smurf1976

    Smurf1976

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    A possible point there is that since the OP is new to it all, they may not understand the distinction you're using between "trader" and "investor".

    There's no hard rule which defines it so far as I'm aware but generally speaking a trader buys shares with the intention of selling them fairly quickly for a higher price and profits solely from movement in the share price whilst an investor intends owning them for an extended period and aims to profit from dividends as well as any increase in the share price.

    Both approaches have their merits and what suits and individual comes down to many factors including personality. Some are inclined toward the idea of actively buying and selling on a regular basis and aiming to beat the market whilst others are more inclined toward the idea of assessing the merits of a business and owning part of it as a shareholder over an extended period.

    Both approaches have their place. :2twocents
     
    myrtie100, sptrawler and Trav. like this.
  4. Porper

    Porper Ralph Nelson Elliott

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    First you need to know what makes you profitable. It isn't Elliott Wave, Gann or any form of analysis. it's about skewing the numbers in your favour.

    A good book for this is Adaptive Analysis by Nick Radge.
     
    Smurf1976, willoneau and sptrawler like this.
  5. Skate

    Skate

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    Hi @Albinoni

    Welcome to the 'ASF' community.

    Education is the key.
    “Education is something that is done to you. Learning is something you do for yourself."
    “If what you learn leads to knowledge, you become a fool but if what you learn leads to action, you can become wealthy”

    Help is at hand
    New members join our community looking to learn how to trade successfully. I know there are many members who are willing to help you with this.

    Listen to everyone & read only the post that interest you
    From my experience it pays to listen to everyone & than you decide if it’s relevant or helpful to you. You get to decide what to keep & what to discard. If you don’t listen to advice you'll forgo the right to learn. Education is the key when it comes to trading & how to control your emotions is another.

    Helping Others
    The 'Dump it here' thread is a collection of posts designed to help you & it's the perfect thread for all new traders starting out on their trading journey. Reading the 'Dump it here' thread is a big commitment, it will be exhausting but in the long run it will ground you in the basics giving you enough information to find your feet.

    There is even a free eBook for you as well.
    Found Here --> https://www.aussiestockforums.com/threads/dump-it-here.34425/page-114#post-1011544

    Enjoy our community, we have some of the smartest traders around that are willing to help you as shown in the previous posts by @sptrawler @Smurf1976 & @Porper in replying to you.

    Skate.
     
  6. Albinoni

    Albinoni

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    This is something I need to work out as I would also like to learn the art of investing and what do you define as investing, would you say that buying property is an investment. Where as trading is when one buys and sells shares/stocks etc, he/she may keep them for about 6 months, 1 year etc than sell them off.
     
  7. sptrawler

    sptrawler

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    Hi Albinoni, as smurf said I probably should have expanded on my welcome comment, in my opinion a trader in shares is someone who analysis stocks by their trending attributes i.e volume, price, rate of change etc.
    Then from the analysis, decide which shares have the best probability of their price going higher and buy accordingly.
    To do this well, the trader needs accurate charting tools and a formula for detecting which prices are heading up and which prices are heading down, plus a self discipline to stick to their formula. They may sell the shares in hours, days, weeks it doesn't matter, when their formula says the trend is going to change they sell, for a profit or to mitigate a loss.
    I am more of an investor, where I tend to look for shares that I feel have a good underlying business and are likely to grow their earnings and therefore my dividends.
    The price doesn't overly concern me, I don't like it when they go down, but I don't lose sleep as I believe they will come back. I tend to sell when I believe their business is broken and their dividends and price will suffer, for example I still own my bank shares, but I have offloaded my AMP.
    So as Craft said to another new investor, you first need to decide which interests you, trading or investing, then start reading and enjoying the ride.:xyxthumbs
     
    Skate likes this.
  8. BlindSquirrel

    BlindSquirrel

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    Welcome, fellow newbie!
    Trading from Perth is not without its annoyances. Especially in summer when the ASX opens an hour earlier than normal, so it's 7:30am here instead of 8:30. Processing those pre-market-open announcements before sparrow's fart is something you'd have to get used to if you want to take advantage of open volatility.
     
    Saqeeb and PeterJ like this.
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