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New to shares and any learning tips would be really appreciated

Discussion in 'Beginner's Lounge' started by Pete 1969, Aug 14, 2013.

  1. Pete 1969

    Pete 1969

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    Hey everyone,
    I'm Pete (obviously) :)

    I am totally new to buying and selling shares and am basically searching around for info before I start investing.
    I will only be using 10k to start and see what I can do over the next 12 to 18 months with that. I have applied with Westpac for a trading account and intend to trade both locally and internationally.

    I just thought I would join your forum and see what I can learn from the people on here, I was browsing here a couple of times this week and its nice to see the kind advice that has been passed around - it all seems unbiased.

    I guess I would ask you guys who and what you use for the following:

    1) apps to track your stocks. Currently I have Stock Tracker paid version, seems good but again, there may be a better app? I wanted something that would track global shares not just local.

    2) subscriptions for stock tips that you think is credible? I have a subscription to Motley Fool as of last week and checking out their articles and recommendations, (considered Australian Stock Report after a call from them today but decided it is not for me due to the cost (10% of my starting cash) also I am now buying the financial review.

    3) sites or subscriptions to educate myself better? Currently I have only used Google and You Tube, some interesting things to see and read but you may know of a site or company I could use that would be more beneficial?

    4) An Afterthought: Setting up account with Westpac, how would you rate them and is there better alternatives? ( I don't particularly want to deal with CBA (commsec) Westpac account should be ready tomorrow but...

    Any advice would be appreciated
    Kind Regards,
    Pete
     
  2. Pete 1969

    Pete 1969

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    New to shares and any learning tips would be really appreciated.

    Sorry, I posted this under general chat before I saw this section, not sure how to delete the first post :mad: if a moderator would like to delete it for me I would appreciate it.


    Hey everyone,
    I'm Pete (obviously)

    I am totally new to buying and selling shares and am basically searching around for info before I start investing.
    I will only be using 10k to start and see what I can do over the next 12 to 18 months with that. I have applied with Westpac for a trading account and intend to trade both locally and internationally.

    I just thought I would join your forum and see what I can learn from the people on here, I was browsing here a couple of times this week and its nice to see the kind advice that has been passed around - it all seems unbiased.

    I guess I would ask you guys who and what you use for the following:

    1) apps to track your stocks. Currently I have Stock Tracker paid version, seems good but again, there may be a better app? I wanted something that would track global shares not just local.

    2) subscriptions for stock tips that you think is credible? I have a subscription to Motley Fool as of last week and checking out their articles and recommendations, (considered Australian Stock Report after a call from them today but decided it is not for me due to the cost (10% of my starting cash) also I am now buying the financial review.

    3) sites or subscriptions to educate myself better? Currently I have only used Google and You Tube, some interesting things to see and read but you may know of a site or company I could use that would be more beneficial?

    4) An Afterthought: Setting up account with Westpac, how would you rate them and is there better alternatives? ( I don't particularly want to deal with CBA (commsec) Westpac account should be ready tomorrow but...

    Any advice would be appreciated
    Kind Regards,
    Pete
     
  3. Gringotts Bank

    Gringotts Bank

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    Re: Hi everyone, new to this and any tips would really be appreciated

    So Pete, you're brand new to all this and you don't even have a broker yet. But you've already bought a subscription to Stock Tracker??? You reckon Stock Tracker is good, but how would you know if you haven't got any data in it?

    If you want to advertise, why not just be up front about it? Or if you're not advertising, you certainly have the cart before the horse!! A portfolio manager is about the last thing you need to consider when starting out. In fact it's not even necessary, since most brokers will give you a download of all your trades which you can export into excel.
     
  4. pixel

    pixel DIY Trader

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    Re: New to shares and any learning tips would be really appreciated.

    Hi Pete, and welcome :)

    Please understand that terms like "Advice", "Recommend", and similar are frowned upon because none of us is legally qualified to provide that kind of thing on an open forum.
    All we can do is state our opinion and experience, maybe as "I've done this" or "I intend to do that."

    With that said, let me try and answer some of your points.

    1/ If it's free stock tracking (as opposed to stock picking) software, I have bookmarked BigCharts, which I've been using for stocks that my regular subscription-based software didn't cover. Check out http://bigcharts.marketwatch.com/qu...t&sid=0&o_symb=uk:blt&freq=6&time=2&x=41&y=11 and have a play around to see if it delivers what you're after.
    As a trader, I rely on live data across all markets I operate on; therefore I subscribe to Iress and Pulse; but the annual subscriptions wouldn't leave you much to invest.

    2/ I don't pay for stock tips because by the time a recommendation has been distributed to a few hundred subscribers, it's all but done and dusted. If my stock picking algorithms don't bring me in at the beginning of a rally, I'd rather give it a miss. I may, however, jump on and trade an upswing. But for that I don't need a crib sheet.

    3/ Depending on the type of education you wish to obtain, I have bookmarked these sites
    You may also find some good info at investopedia.com

    4/ I have been trading through Westpac for 15 years and find them "fit for my purpose" and their software pretty reliable. Check out their Quotes and Research pages. Maybe you'll find answers to some of your earlier questions there.

    I'm sure others will add lots more info; try not to drown ;)
     
  5. Country Lad

    Country Lad Off into the sunset

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    Re: Hi everyone, new to this and any tips would really be appreciated

    Do some research first so you know which questions to ask. A good start would be all the threads on this forum where other newbies are all asking similar questions.

    I may be a bit rude about this but we seem to have a never ending procession of people coming here asking to be spoon fed. Maybe because I am from a different generation, but I would not have the hide to start asking questions without doing at least some of my own research first.

    Cheers
    Country Lad
     
  6. medicowallet

    medicowallet

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    Re: Hi everyone, new to this and any tips would really be appreciated

    A novice trader who wants to include currency risk straight up.

    The man has a sturdy set.

    MW
     
  7. Tano

    Tano

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    Re: Hi everyone, new to this and any tips would really be appreciated

    2)I am with Motley Fool. They are doing fairly well with their portfolio of australian stocks. I was under the impression AFR was $50/month which is about the same cost as Motley.

    3) This site, also check out the book threads for some reading material. Many books are available in PDF on the net.

    4) Interactive Brokers have the cheapest brokerage but there not very user friendly. You really want low commisions if only investing 10k. CMC Markets have 9.90 brokerage.

    With 10k, you probably want to limit yourself to 5 stocks that you research, else diversfy into different sectors.
     
  8. Pete 1969

    Pete 1969

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    Re: Hi everyone, new to this and any tips would really be appreciated

    Hi guys,
    for those that doubt why I came here and question it, thanks for getting to know me a little bit before passing your judgement. I was not trying to promote anyone or anything, merely asking for advice which is what I thought this forum is for. I am actually a mortgage broker from Wollongong, not a stock broker.
    I guess you never started at the start and what a legend you must think you are.

    As far as not having date in stock tracker, I have some data in there from things I have read about over the last 2 weeks. I guess if you asked I would have told you that but assuming is better for you? have I purchased a stock?no.
    Regarding research, I have been reading different articles and looking at thing as I said in my post, such as Google and You Tube. I did say that. I was just asking opinions of anything else that you would recommend. Sorry for asking. No wonder I saw a message saying the forum was quiet if you guys are the first to comment. I wont bother asking again.

    Thanks Tano for your tips.
    Pete
     
  9. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    Re: Hi everyone, new to this and any tips would really be appreciated

    Pete, there are lots of people here wanting to help others learn. All we ask is that you first put in a little time and read the newbie threads and then come back with some good questions.

    I spend many many hours helping new traders, i enjoy passing on knowledge and experience. Many members here do the same thing, but you need to show you are willing to do research yourself too.

    Please stick around, we'd enjoy having you on board.:)
     
  10. Pete 1969

    Pete 1969

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    Re: New to shares and any learning tips would be really appreciated.

    Hi Pixel,
    thank you for the help. I will try to remember re advice and recommend.
    I will check out this info tonight. Much appreciated.
    pete
     
  11. So_Cynical

    So_Cynical The Contrarian Averager

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    Re: New to shares and any learning tips would be really appreciated.

    NAB trade $14.95
    HSBC Trading $15.95
    Bell Direct $15.00

    Why pay more?
     
  12. burglar

    burglar

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    Re: New to shares and any learning tips would be really appreciated.

    Hi Pete,
    Welcome to ASF

    Yes, it is quiet here ... sometimes.

    Sorry to see newbie bashing in the general chat thread ... it happens!

    Correction: It doesn't just happen! It's created ...


    In the beginner's lounge the moderators are sufficiently strict to deter such posts.
    You're in good hands with pixel and So_Cynical!
     
  13. pixel

    pixel DIY Trader

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    Re: New to shares and any learning tips would be really appreciated.

    I couldn't care less in what kind of sub-forum somebody asks a question.
    If I see it and have the time/ knowledge to make a meaningful contribution, I do so.
    Bashing/ discouraging a new member is not only rude, it's also a waste of time.
    But in an open forum, you find a wide spectrum of "All creatures great and small" :1zhelp:
     
  14. Gringotts Bank

    Gringotts Bank

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    Pete, sorry about the hasty assessment. I did pre-judge you on purpose, however. I do it for practice. I take small amounts of information and see what extrapolations I can make. Mostly my accuracy is very good but obviously I was way off here. It's probably not something I should do on this forum, but it's tempting because it's very much like share trading. All I have is a price chart (a small chunk of information), and I have to make a decision to act based on this thin slice of info. And my trading goes well on that basis. Looking back I don't think anything I said was too awful, but I do apologize. I certainly don't condone bullying, and if it was seen that way by the moderators it would have been rightfully deleted.
     
  15. Joe Blow

    Joe Blow Administrator Staff Member

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    In future, how about you only do this if your extrapolations are positive and encouraging? I think that sometimes those new to ASF are not treated in a particularly welcoming way and this may discourage many from sticking around and becoming a part of the community.

    It is entirely reasonable to be skeptical of those who may be spammers or have some other ulterior motive for joining and posting, but I think that everyone should be given the benefit of the doubt, until they demonstrate that they are not here for genuine reasons.
     
  16. Julia

    Julia In Memoriam

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    Re: New to shares and any learning tips would be really appreciated.

    Nice post, pixel. A little generosity of spirit goes a long way.
    When people are starting out in something that's entirely new to them, it's often difficult to know what questions to ask. I know when I started I asked some incredibly stupid questions and will be forever appreciative of those people who didn't berate me but pointed me in the right direction. I still stuff up woefully at times.

    Welcome Pete.:)
     
  17. pavilion103

    pavilion103

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    I remember when I first came here and was put off by some posts from people who seemed like they wanted to flaunt some sort of self-importance.

    Best to give people the benefit of the doubt. If they are genuine, great they will stick around. If they are not, they will be found out in the not too distant future.

    Of course new people will ask questions which seem "obvious" to seasoned traders but they'll get there with a bit of assistance.
     
  18. DocK

    DocK

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    Hi Pete,

    If you want to check out a cheaper Aussie broker take a look at CMC Markets - only $9.90 min and free conditional orders.

    I'd suggest you start by reading a few books covering the basics of fundamental analysis and technical analysis to see which you feel most comfortable with, rather than jumping straight to a subscription service. A quick search of this forum will provide quite a few titles to begin with - most local libraries offer a decent selection. Personally I think you need to do a lot of reading/research before you can judge what's a scam or whose methods you'd feel comfortable following - if you don't decide to try a strategy of your own making.
     
  19. Pete 1969

    Pete 1969

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    Thanks everyone, appreciate you letting me know your thoughts. Will check back soon.
     
  20. Flyinfreee

    Flyinfreee

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    Hi Pete

    How's it going?
    Are you still trading/investing these days?

    I'm glad you shared your concerns on this site, and some of your questions as a beginner. By googling a review on Motley Fools' recommendations, I found this thread. And guess what? I'm now where you were, only 3 years later. I too have been bombarded with Motley Fool ads to hurry up, and join up with them. I might be tempted, if I could find more positive than negative views on them, but after reading what posts were shared on this thread, I've decided to spare MF's costs, and keep it to put towards my own education/investing.

    Cheers!
     
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