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I've got $100k: Haven't traded before

Discussion in 'Beginner's Lounge' started by ReligiousInvestor, Feb 10, 2020.

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  1. ReligiousInvestor

    ReligiousInvestor

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    My objective is to create a cash driver enabling more significant real estate investment within 2-3 years.

    If I could double my money within that, that would be great.

    Considering building portfolio of TSLA, CSL, DTL, XRO, ALU, MSFT.

    (Currency considerations for US stocks?)

    Any ideas? Am I dreaming?
    Any books I should read to become an educated investor?
     
  2. jjbinks

    jjbinks

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    Why do you think those stocks will double your money and not halve it?
     
  3. ReligiousInvestor

    ReligiousInvestor

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    Beginners optimism I guess. Or maybe naivete
     
    frugal.rock likes this.
  4. galumay

    galumay learner

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    Yes! Especially based on your answer to @jbinks question.

    Regardless, your timeframe is far too short for investing in equities. You need to be looking at 10 years minimum, preferably longer IMO.

    I wouldn't even recommend ETFs or other passive equity investing with that timeframe.

    If you want to double your money in 2-3 years then then gambling is the only realistic option - with the attendant risk of more than likely losing the lot.
     
    frugal.rock, aus_trader and barney like this.
  5. ReligiousInvestor

    ReligiousInvestor

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    10 years to double your money is 7% CAGR. That can be had if not better in real estate.
     
  6. galumay

    galumay learner

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    You said you wanted to double it in 2-3 years. If you believe you will get 7% CAGR or better in real estate, why are you considering investing in equities?
     
    barney likes this.
  7. ReligiousInvestor

    ReligiousInvestor

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    For a substantially greater rate of return
     
  8. Knobby22

    Knobby22 Mmmmmm 2nd breakfast

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    You can achieve this and we are in a bull market so could do way better than putting it in the bank. I would look at a few threads and also consider using someone like The Chartist, a pretty good trading site.

    If you are interested in fundamental investing like me, it will take as lot more time to build up your knowledge so probably not as useful.

    Dump it here by Skate seems really good, and there are many good traders here now to see how they work. Tech a is one but I don't want to mention them all for fear of leaving someone out.
     
  9. galumay

    galumay learner

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    I am out, encouraging novice investors to risk precious capital, making ridiculous claims about easily making returns substantially greater than 7% CAGR is downright irresponsible IMO.

    The risk of significant loss of capital is seemingly just ignored.

    Given that most traders end up losing all their capital, suggesting that as a strategy for a novice is madness.
     
    Skate, Dona Ferentes and barney like this.
  10. Dona Ferentes

    Dona Ferentes

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    As Kerry Packer said "let's flip you for that."
     
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  11. willoneau

    willoneau

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    Hi ReligousInvestor welcome to ASF, as you stated in the heading of the thread "never traded before" you are in the right place to begin your journey down the rabbit hole. The assumption that you can get those sort of returns in such a short time with no knowledge of trading or investing shows how little you know. But once you realize that you can begin to learn what you need to know before you risk losing any of your hard earned Capital. The number 1 rule is preserve your Capital as you need it to trade/invest.
    Those returns are possible but to experienced traders/investors.
     
    barney likes this.
  12. ReligiousInvestor

    ReligiousInvestor

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    Hi willoneau. Thank you for your constructive dialogue. Where would you suggest I begin, and the several steps after?
     
  13. willoneau

    willoneau

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    Great question and probably should have been the first post ( less criticism ).
    Skates thread and ebook good start (free)
    Nick Radge books
    Mark Douglas books/ vids.
    I come from trading back ground but there are a few Investors here that are happy to help if you ask the right questions.
     
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  14. willoneau

    willoneau

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    Education is definitely the place to start, finding out which direction as soon as possible helps fast track you learning eg trader or investor, discretionary or system based.
     
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  15. willoneau

    willoneau

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    The trading diaries and journals area is a great place to start too as it shows you what sort of effort is needed.
     
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  16. willoneau

    willoneau

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    The act of buying and selling is easy just look at all the ad's on TV. The hard part is becoming consistently profitable.
    UBA trading , now there's a thought.
     
    Skate likes this.
  17. Knobby22

    Knobby22 Mmmmmm 2nd breakfast

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    So do some checking out.
    Nick Radge Chartist site as has been mentioned is a seriously good way of getting involved without taking too much risk and what Willonoeu said is all good stuff.
    Learn carefully and act carefully. Don't rush in.

    Also shares tend to go up over time, but crashes occur so you have to know when to leave.

    Shares are much much better in my view to invest in than zero sum stuff like currency speculation.

    If you buy quality then you often get dividends and you are not betting against professionals.

    Also, in my opinion you should invest for medium time frames, months.
    Day trading is not the way to go.

    Be happy with realistic returns. Chasing risk will likely burn you.
    I really would read a few books before doing anything.
     
    Last edited: Feb 10, 2020
  18. Knobby22

    Knobby22 Mmmmmm 2nd breakfast

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    So do some checking out.
    Nick Radge Chartist site as has been mentioned is a seriously good way of getting involved without taking too much risk and what Willonoeu said is all good stuff.
    Learn carefully and act carefully. Don't rush in.

    Also shares tend to go up over time, but crashes occur so you have to know when to leave.

    Shares are much much better in my view to invest in than zero sum stuff like currency speculation.

    If you buy quality then you often get dividends and you are not betting against professionals.

    Also, in my opinion you should invest for medium time frames, months.
    Day trading is not the way to go.

    Be happy with realistic returns. Chasing risk will likely burn you. Doubling in 3 years is very unlikely. Be happy with 30% (if the market behaves) and getting an education.

    I really would read a few books before doing anything.
     
  19. ReligiousInvestor

    ReligiousInvestor

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    h
    Hi Knobby22. Any books you would recommend?
     
  20. Knobby22

    Knobby22 Mmmmmm 2nd breakfast

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    Willenou suggestions are good.
     
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