My Trading Plan/System (Beginner)

CanOz · 2 March 2009

Saiter, the markets and their opportunities will always be there. Why not take this time and trade on a simulator, perfecting your knowledge while building a war chest.

Perhaps the difficulty in getting access to trading is a blessing for now.

Roll with it, learn some more....test some more.

Cheers,

CanOz

saiter · 3 March 2009

Trembling Hand said:
No No No. Try one of the CFDs like CMC you can even short the fins

Haha, first I'll find out what a CFD is.

CanOz said:
Saiter, the markets and their opportunities will always be there. Why not take this time and trade on a simulator, perfecting your knowledge while building a war chest.

Perhaps the difficulty in getting access to trading is a blessing for now.

Roll with it, learn some more....test some more.

Cheers,

CanOz

Where can you find simulators for stocks?

CanOz · 3 March 2009

saiter said:
Haha, first I'll find out what a CFD is.

Where can you find simulators for stocks?

If your system is EOD then you don't even need a sim, lots of free data to forward test.

OR

Test it on a sharemarket game, like ASX.

If its FX then FXgame from Oanda.

Maybe IB will let on thier sim without an account, i'm not sure though.

Cheers,

CanOz

Stormin_Norman · 3 March 2009

IG markets lets u paper trade. cfds + indexes + fx.

beamstas · 3 March 2009

CanOz said:
If your system is EOD then you don't even need a sim, lots of free data to forward test.

OR

Test it on a sharemarket game, like ASX.

If its FX then FXgame from Oanda.

Maybe IB will let on thier sim without an account, i'm not sure though.

Cheers,

CanOz

Im pretty sure you need an operational IB account to use their demo accounts

banjosmyth · 9 March 2009

Hi guys

I love you plan and attitude but best of all I love you budgeting skills $50 would surely take some dedication!

Great stuff and best of luck - Look forward to hearing your successes and failures as I'm sure you will have some of each. If you persist and continually upgrade your trading plan I'm sure you will succeed in the long run

Cheers

Banjo

What's Happening to the Stock Market???

roamin_oz · 13 March 2009

All i say is just jump right in. I started with 50G at the beginning of Nov '08 with little to no insight into the stock market other than its down way down on 2yrs ago and it can only go up (shortly) from here.

I'm currently up $3,500. (3 trades)

I try to make between 5-10% on a trade. I know im bad in trading by not using stops (i think they call them that) but hey... no doubt in time they recover and you can sell. Big deal if it takes 4-6 weeks to make 5-10% profit.... its not like you worked for it anyways. It's basically free money.

My only advise is dream... and dream big! And you arent at a loss unless you sell at a loss.

Good Luck, and wish me luck too.

tech/a · 13 March 2009

And you arent at a loss unless you sell at a loss.

Rest assured if your liquidated holdings are less than your original capital then you are losing.

Just wander into a bank and see if they will loan against your declining capital base.

You wont last long in any business including trading unless you know how to run your P&L.

prawn_86 · 13 March 2009

roamin_oz said:
and wish me luck too.

No offence, but your going to need a hell of a lot of it.

What happens when you get caught holding an AFG, BNB, ABS etc etc? Or even 'quality' stocks like FLT which get hammered.

Good luck...

Wysiwyg · 14 March 2009

He`s a bulldung artist.Probably had a few.

Nero64 · 14 March 2009

No offence, but your going to need a hell of a lot of it.

What happens when you get caught holding an AFG, BNB, ABS etc etc? Or even 'quality' stocks like FLT which get hammered

Yes you are right about holding stocks that crash. You lose money. That is obvious. But you partly off set the risk by reducing your capital sizing on entry.

You also lose money buying a car which depreciates in value.

If you purchase a half decent stock that has a decent earnings record which pays a FF dividend of 5% you will get your money back in 10 - 20 years assuming you're a long term investor.

Most of us have long term portfolios and have been down 40-60%. It's easy to preach capital managment but when the market is down 55% it's not so easy to practise what you preach.

I agree that stop losses are essential when using CFD's and Forex. Leveraging on CFD's will wipe you out if you get it wrong.

If Warren Buffet closed out of his postions when down 30% then he wouldn't be where he is today would he.

nunthewiser · 14 March 2009

tech/a said:
Rest assured if your liquidated holdings are less than your original capital then you are losing.

Just wander into a bank and see if they will loan against your declining capital base.

You wont last long in any business including trading unless you know how to run your P&L.

BINGO

this bloke got all the answers

tech/a · 14 March 2009

It's easy to preach capital managment but when the market is down 55% it's not so easy to practise what you preach.

Those that use correct risk management wouldnt be 50% down in ANY holding.

If Warren Buffet closed out of his postions when down 30% then he wouldn't be where he is today would he.

Undrstand HOW Buffett invests.
He buys enough of the Business to CONTROL it.
He then goes about turning it into a power house.
He hasnt been able to duplicate Berkshire Hathaway!

People attempting to emulate Buffett are hopelessly deluded.

Sean K · 14 March 2009

roamin_oz said:
All i say is just jump right in. I started with 50G at the beginning of Nov '08 with little to no insight into the stock market other than its down way down on 2yrs ago and it can only go up (shortly) from here.

I'm currently up $3,500. (3 trades)

I try to make between 5-10% on a trade. I know im bad in trading by not using stops (i think they call them that) but hey... no doubt in time they recover and you can sell. Big deal if it takes 4-6 weeks to make 5-10% profit.... its not like you worked for it anyways. It's basically free money.

My only advise is dream... and dream big! And you arent at a loss unless you sell at a loss.

Good Luck, and wish me luck too.

You're on your way to being a great financial advisor Roamin.

nizar · 14 March 2009

Amateurs.

Referring to $8.4million in WorldCom stock now only worth about $492,000: "Until you actually sell it, you haven't lost it" - Robert Leggett, Kentucky Retirement Systems.

Professionals.

Some people say, "I can't sell that stock because I'd be taking a loss." If the stock is below the price you paid for it, selling doesn't give you a loss; you already have it - William O'Neill.

Trembling Hand · 14 March 2009

Nero64 said:
If Warren Buffet closed out of his postions when down 30% then he wouldn't be where he is today would he.

Yep, that is wasting 10 years you mean.

Classic!!

nomore4s · 14 March 2009

roamin_oz said:
All i say is just jump right in. I started with 50G at the beginning of Nov '08 with little to no insight into the stock market other than its down way down on 2yrs ago and it can only go up (shortly) from here.

I'm currently up $3,500. (3 trades)

I try to make between 5-10% on a trade. I know im bad in trading by not using stops (i think they call them that) but hey... no doubt in time they recover and you can sell. Big deal if it takes 4-6 weeks to make 5-10% profit.... its not like you worked for it anyways. It's basically free money.

My only advise is dream... and dream big! And you arent at a loss unless you sell at a loss.

Good Luck, and wish me luck too.

rotflmao, you've been trading in the market with 50k since Nov 08 and have only closed 3 trades for a $3500 profit - how many open trades do you have? And how far down are they from your entry price?

You will no doubt be saved by this rally that looks like occurring now and think you are a trading genius, lol good luck you'll need it.

Nero64 said:
If Warren Buffet closed out of his postions when down 30% then he wouldn't be where he is today would he.

lol, I love how people preach Warren Buffet investment strategies when they have no chance of actually being able to invest like him.
- When he started investing the markets were totally different - different era, different cycle & influences.
- When he really started to make serious money was when he could buy large positions in companies and have a say in the future direction of those companies - he wasn't buying $10,000 in CBA and investing it for 30 years to make a billion $, lol.

roamin_oz · 14 March 2009

kennas said:
You're on your way to being a great financial advisor Roamin.

Thank you for your sarcasm... i think :

nomore4s said:
rotflmao, you've been trading in the market with 50k since Nov 08 and have only closed 3 trades for a $3500 profit - how many open trades do you have? And how far down are they from your entry price?

You will no doubt be saved by this rally that looks like occurring now and think you are a trading genius, lol good luck you'll need it.

Yes i have been trading for 3 months. I usually trade $10,000 or $20,000 worth of stocks each time and sell out between 5-10%. As im not near a computer cause i work full time without access to a computer I put in a price I'm happy to sell out at and just let it go until that day comes and they are sold.

3 trades were AXA in Nov, AUN in Jan & ANZ in Feb. Currently i have 2 trades open that i have bought recently. MDT ($10,000) and TTS ($20,000). MDT is currently down 0.005 cents and TTS is currently down 18 cents. I'm still in search for then $20,000 i have spare. Tips anyone?

Saved by this rally, more than likely, hence the reason why i've only just come into share trading. It cant be too far off the bottom. I'm not here to make millions upon millions of dollars though i dream of it. But to me this is just another form of income thats more so a hobby at the moment.

Like I have said who cares if it takes 4-6+ weeks to make a profitable trade, in the end its not like you worked hard for it.

In the end though, $3,500 over a 3-4 month period is about 7% which I'm not complaining about. It's better than any bank is going to give me.

tech/a · 14 March 2009

None are so blind as those who cannot see.

pilbara · 14 March 2009

roamin_oz said:
Currently i have 2 trades open that i have bought recently. MDT ($10,000) and TTS ($20,000). MDT is currently down 0.005 cents

Macquarie DDR Trust is a very speculative dangerous investment, a leveraged property trust specializing in USA Shopping malls. Macquarie's partner DDR is about to be credit rated as junk by Moodys. This share has fallen more than 95% from its peak. Since you bought at 4 cents, it fell to a low of 2.7 cents. Catching a falling knife is dangerous. As they say, what is the definition of a stock that's fallen 90 percent?? -- a stock that's fallen 80 percent (when you bought it), then halved in value ... requiring a 100 percent gain to get back to where you were.
http://business.smh.com.au/business...es-over-junk-credit-rating-20090313-8xwd.html

My Trading Plan/System (Beginner)

CanOz

Home runs feel good, but base hits pay bills!

saiter

CanOz

Home runs feel good, but base hits pay bills!

Stormin_Norman

Currency Trader

beamstas

banjosmyth

roamin_oz

tech/a

No Ordinary Duck

prawn_86

Mod: Call me Dendrobranchiata

Wysiwyg

Everyone wants money

Nero64

nunthewiser

tech/a

No Ordinary Duck

Sean K

Moderator

nizar

Trembling Hand

Can be found on the bid

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nomore4s

Commonsense isn't that common

roamin_oz

tech/a

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