Introducing Myself!

[karmatik]

Hi folks,

Just came across this forum tonight after searching for a while. Seems to be pretty good so decided to sign up. Anyways, thought I would introduce myself and look forward to gaining some insights into how the market works.

Im fairly new to the whole concept of investing so looks like there may be a steep learning curve for the next while!!

Cheers,

Karmatik

 

[Lucstar]

Welcome aboard!
This is a great forum for both learning as well as lesuire reading
I hope you enjoy your time here

 

[Milk Man]

G'day there mate,

Youve picked a great place to start learning here. I know ive picked up a hell of a lot, i'm sure you will too. Dont be afraid to ask questions, but if you do a search on the topic you'll probably find what youre looking for. Thats what I do anyways. Id start with positive expectancy, but thats just me. Best of luck!

:bier:

 

[karmatik]

Thanks guys, feeling at home here already.

I have some questions needing answering but its early days yet...

 

[son of baglimit]

rule no 1 - ignore everyone elses ramps except mine - aint that right fleeta ?

 

[Fleeta]

Don't know baglimit, whether it is luck or skill that makes your ramps so good. Just remember that you are only as good as your next ramp! The past is history.

Rule #1 - Don't believe the hype...'make your research' as Chicken would say.

 

[dutchie]

Rule #1 - Do your own research

Rule #1(a) -If you are too lazy to "do your own research" and just want to rely on ramps then Chicken and Son of Bag Limit have the most runs on the board.

 

[son of baglimit]

thank you for the glowing testimony - both of you.

nms ann is in fleeta - didya grab em low yesterday ?

r u ready for the next big thing ?

sorry for taking over ya thread 'new guy' - thats the way it goes.

rule #1 - keep the humour up - helps with the down days

 

[karmatik]

sorry for taking over ya thread 'new guy' - thats the way it goes.

No worries, I dont have anything of interest to post as yet!

From all accounts it appears "do your own research" is the number one rule in this game. Sounds fair enough, at least you cant blame anybody else if you balls things up and lose some money.

Im aiming to have my first "dabble" in the markets in the second quarter of next year. I have a fair bit of research to do yet. Most research I have done so far has been conflicting.

I have read some of William J O'Neils writing and it seems to make sense, his so called C-A-N-S-L-I-M method. Have any of you read his work??

Karmatik

 

[It's Snake Pliskin]

No worries, I dont have anything of interest to post as yet!

From all accounts it appears "do your own research" is the number one rule in this game. Sounds fair enough, at least you cant blame anybody else if you balls things up and lose some money.

Im aiming to have my first "dabble" in the markets in the second quarter of next year. I have a fair bit of research to do yet. Most research I have done so far has been conflicting.

I have read some of William J O'Neils writing and it seems to make sense, his so called C-A-N-S-L-I-M method. Have any of you read his work??

Karmatik

Yes "make your research" is more apt if you want to sound like Chicken, otherwise do your own research and then do tell.

I've read the CANSLIM in Van tharps book where he covers it. It didn't show me the light though. It's not something I could use myself.
I've developed a plan that suits me and is a combination of many things. I'm still working on it and always buying new books and "making my own reserach".

Snake

 

[Kauri]

Compton and Kendall in their book "Trading with a Plan" make use of the canslim process in Australian markets, might be worth a look if you are going to apply it to Aussie stocks. Welcome, and all the best with your trading.

 

[Smurf1976]

This is not financial advice etc. since I'm not a qualified advisor but in my opinion the most important concepts to get right are "positive expectancy" and "money management".

Somewhere on this forum Tech/a (think it was him. Appolgies to whoever it was if it wasn't) did an excellent explanation of this. Search for it and read it and make sure you understand it before putting money in the market.

In simple terms you could think of it like water flowing into a reservoir where the water is money and the reservoir is your account. There will be water going in (profitable investments) and water going out (dud investments) but if you want the level in the reservoir to increase over the long term (your account balance to rise) then there needs to be more going in than going out. A very simplified analogy to explain positive expectancy. Whilst you WILL have losing trades you need to make more than you lose over time.

The next one is money management. Just as you can't use any more water when the dam runs dry and you have big problem, likewise you have big problem if your account is empty!!! Even if you have positive expectancy you need to know that the maximum run of losses won't cause the loss of too much of your capital because once your capital is gone you're out of the game. The fact that you would have then had 10 winning trades in a row becomes irrelevant if you've lost your capital and can't take those trades. So you need to make sure this doesn't happen - that's what money management is about.

What I've said is very heavily simplfied just to explain the basic concept so be sure to learn lots more about positive expectancy and money management.

 

[It's Snake Pliskin]

This is not financial advice etc. since I'm not a qualified advisor but in my opinion the most important concepts to get right are "positive expectancy" and "money management".

Somewhere on this forum Tech/a (think it was him. Appolgies to whoever it was if it wasn't) did an excellent explanation of this. Search for it and read it and make sure you understand it before putting money in the market.

In simple terms you could think of it like water flowing into a reservoir where the water is money and the reservoir is your account. There will be water going in (profitable investments) and water going out (dud investments) but if you want the level in the reservoir to increase over the long term (your account balance to rise) then there needs to be more going in than going out. A very simplified analogy to explain positive expectancy. Whilst you WILL have losing trades you need to make more than you lose over time.

The next one is money management. Just as you can't use any more water when the dam runs dry and you have big problem, likewise you have big problem if your account is empty!!! Even if you have positive expectancy you need to know that the maximum run of losses won't cause the loss of too much of your capital because once your capital is gone you're out of the game. The fact that you would have then had 10 winning trades in a row becomes irrelevant if you've lost your capital and can't take those trades. So you need to make sure this doesn't happen - that's what money management is about.

What I've said is very heavily simplfied just to explain the basic concept so be sure to learn lots more about positive expectancy and money management.

Positive expectancy!

Put simple, you should make at least 1cent or more on average for every dollar you risk. If that is the case you have a positive expectant system.

Snake

 

[Joe Blow]

Welcome to the forums Karmatik!

There's a treasure trove of knowledge and information hidden away in all of the threads here at Aussie Stock Forums. You will discover that the most valuable feature on ASF is the search function, which is your key to tracking down all those nuggets of wisdom!

Please enjoy your time here! ASF abounds with friendly, helpful people.

 

[karmatik]

Im certainly not saying CANSLIM has shown me the light but it has been one of the first books that has made logical sense. It has given me good direction on how I would consider creating a plan that suits me and my line of thinking. Its early days yet anyway.

Thanks Kauri on recommending "Trading with a plan", will surely check it out! And thanks to everyone else for the warm welcome and positiveness. Ive picked up a fair bit already from this forum, and stumbled on sources of information like chart providers just by looking at graphs posted on here!

Karmatik

 

[websman]

Hi guys. I'm new to this thread, but I'm liking it already. I've been very successful at trading, here in the USA, but I thought I might be able to learn something form you guys.

 

[websman]

No worries, I dont have anything of interest to post as yet!

From all accounts it appears "do your own research" is the number one rule in this game. Sounds fair enough, at least you cant blame anybody else if you balls things up and lose some money.

Im aiming to have my first "dabble" in the markets in the second quarter of next year. I have a fair bit of research to do yet. Most research I have done so far has been conflicting.

I have read some of William J O'Neils writing and it seems to make sense, his so called C-A-N-S-L-I-M method. Have any of you read his work??

Karmatik

Canslim is a good starting point, but you should explore all the methods you can. I've found the two most important qualities to possess is a strong determination to succeed and a positive attitude.

Good luck dude!

 

[karmatik]

Canslim is a good starting point, but you should explore all the methods you can. I've found the two most important qualities to possess is a strong determination to succeed and a positive attitude.

Good luck dude!

Cheers websman. Im sure your input from an American viewpoint will come in useful on this forum.

 

[websman]

Cheers websman. Im sure your input from an American viewpoint will come in useful on this forum.

It's great to be here! I'm hoping that we can both make our portfolios huge.

Maybe I can share some of my Vulcan logic with you.

My favorite stock pick at this point would be ELN. Watch this baby fly within the next few months. I'm also holding EZEN.OB.

Here's a few others on my watchlist...BTUI, TIII, CESV, TRLG, ARRS, AIRM VPHM.

Webs...

 

[karmatik]

It's great to be here! I'm hoping that we can both make our portfolios huge.

Maybe I can share some of my Vulcan logic with you.

My favorite stock pick at this point would be ELN. Watch this baby fly within the next few months. I'm also holding EZEN.OB.

Here's a few others on my watchlist...BTUI, TIII, CESV, TRLG, ARRS, AIRM VPHM.

Webs...

Whats your method of selection or is that too broad a query?