Starting Point?

torsim · 4 April 2012

Hi all,

I just turned 22 and feel I am at that age where i should really be thinking of my future. Currently I am still studying at university and working part time.

Recently the Stock Market just perked my interest and I am looking to jump on board but really I don't know where to start or where to go about it. The thing is since I am new to well.. everything. I am looking for advice as to where I should start, what i should be looking out for.

I like the idea of penny stocks and the whole "pump and dump" mentality, with that said I guess with a small start of about 2k-3k.. what should I be doing? I don't want to start and loose everything in one go. There is no point jumping on shares that offer dividends with such a small capital is there? At this current stage I am just dumping everything I can into a uBank savings account but I am sure there is much more potential.

In terms of what I have done already... I just missed the board on the current ASX Stock Market game, will jump on the next one (5 July)...although right now I am on stockwatch.com.au one and giving that go. Also, I am working through the whole ASX Shares education A grabbed a book "A beginner's guide to Charting" to give me a better grasp of what I am looking at but can someone suggest additional material to read?

I am looking to make some money in the short term but also I see myself in the long haul also.

Where should I begin?

McLovin · 4 April 2012

torsim said:
I like the idea of penny stocks and the whole "pump and dump" mentality,

Just a quick FYI, "pump and dump" is a form of stock fraud, probably not something you want to start out in.

torsim · 4 April 2012

McLovin said:
Just a quick FYI, "pump and dump" is a form of stock fraud, probably not something you want to start out in.

Oh no kidding... clearly I need to do more reading. I thought it what was the term used to describe quickly turning over stock. Buying low and getting out in the short term when you still have made decent profit basically I thought it was just not holding onto stock for a long period. My mistake! I guess this whole experience will be a massive learning curve for me. Appreciate the heads up.

burglar · 4 April 2012

torsim said:
...

Where should I begin?

Hi torsim,
Suggest you search for the "pump and dump" thread first.
https://www.aussiestockforums.com/forums/showthread.php?t=21622

Educational or humourous dependin' on whose posts catch you eye!

Then search for Sir O's thread for newbies.
https://www.aussiestockforums.com/forums/showthread.php?t=14370

Enjoy!!

torsim · 5 April 2012

burglar said:
Hi torsim,
Suggest you search for the "pump and dump" thread first.
https://www.aussiestockforums.com/forums/showthread.php?t=21622

Educational or humourous dependin' on whose posts catch you eye!

Definitely gave me a few giggles here and there!

burglar said:
Then search for Sir O's thread for newbies.
https://www.aussiestockforums.com/forums/showthread.php?t=14370

Enjoy!!

Gosh 29 pages and after skimming through some of it and I know its all good stuff. Perfect place to start. It will take me a few days to properly go through it all. Thanks for pointing me towards the thread.

On a completely random note, I got a letter in the mail today from Woolworths Limited offering me SPP (Share Purchase Plan). Kind of a chance thing since I have recently get interested in the "game". Everything looks fairly promising with it, after reading through their material. Right now I am really considering take it up. I just emailed them for further details and now awaiting for a reply Some thoughts?

AlanGreenspan · 5 April 2012

Hi folks, im in the same boat as torsim here, same amount of money similar age (24) and also at uni. Total noob as well with a dauntingly large amount of information to be learnt about the stockmarket world. Keen to see how this thread progresses

skyQuake · 5 April 2012

torsim said:
On a completely random note, I got a letter in the mail today from Woolworths Limited offering me SPP (Share Purchase Plan). Kind of a chance thing since I have recently get interested in the "game". Everything looks fairly promising with it, after reading through their material. Right now I am really considering take it up. I just emailed them for further details and now awaiting for a reply Some thoughts?

That's actually an employee SPP. You get to salary sac to buy shares, meaning you're paying it with your pre-tax income up to a max of $1k worth of shares per financial year. A considerable saving if you have high income.

joea · 6 April 2012

torsim said:
Hi all,

I just turned 22 and feel I am at that age where i should really be thinking of my future. Currently I am still studying at university and working part time.

Recently the Stock Market just perked my interest and I am looking to jump on board but really I don't know where to start or where to go about it. The thing is since I am new to well.. everything. I am looking for advice as to where I should start, what i should be looking out for.

Where should I begin?

Hi.
On this forum I have noted it to be said "it takes 10 to 15 years", to learn the stock market.
Now that statement "stock market", is like saying "how long is a piece of string".

So I am going to make a suggestion. Get yourself a couple of packets of "minties", and thoroughly go through this forum and workout what you really want to do.
Got a whiteboard.? that will help!!!

The alternative is, to jump in, an make a trade and make your first loss. (It will happen!!)

Finally I have attached mistakes made in forex. On the internet, in trading sites many list of mistakes have been listed. Chase a few more of these also.

http://www.lovefinanceinfo.com/2012/04/15-most-common-forex-trading-mistakes/
This will allow you to work out which mistake you are going to make first.!!!!

joea

joea · 6 April 2012

torsim

There is a guy who is an academic who teaches trading.
Name is Roger Kinsky. Have attached a link.

http://books.google.com.au/books/about/Shares_Made_Simple.html?id=QheSumcB_VMC&redir_esc=y

joea

burglar · 6 April 2012

torsim said:
... I guess with a small start of about 2k-3k.. what should I be doing? ...
Where should I begin?

Small starts are very difficult because of brokerage and stuff.

There is an excellent thread started by nioka "Investing my first $1500"

https://www.aussiestockforums.com/forums/showthread.php?t=19955

torsim · 6 April 2012

skyQuake said:
That's actually an employee SPP. You get to salary sac to buy shares, meaning you're paying it with your pre-tax income up to a max of $1k worth of shares per financial year. A considerable saving if you have high income.

Oh yes, of course. Still waiting for additional information but considering its pre-tax income and I know I can go without that income. I reckon I will just jump on it - probably for the max of $1k. Interested to see how much lower it will be from market, ill post details concerning at a later date.

joea said:
Finally I have attached mistakes made in forex. On the internet, in trading sites many list of mistakes have been listed. Chase a few more of these also.

http://www.lovefinanceinfo.com/2012/04/15-most-common-forex-trading-mistakes/
This will allow you to work out which mistake you are going to make first.!!!!

joea

Interesting read. Me being me, and trust me I know me fairly well... I could see myself making a handful of these mistakes. I guess I will be more aware of them now and think more deeply about any decisions before I make them. I am in it for to make money and help with my future opposed to losing it :

joea said:
Hi.
On this forum I have noted it to be said "it takes 10 to 15 years", to learn the stock market.
Now that statement "stock market", is like saying "how long is a piece of string".

Its 5 meters long, no its 10, no 5. I don't know how long it is!

Haha I can just see a wealth of information on these forums not to mention several books and websites I have come across. On that note I have already ordered that book you suggested after reading the Google preview... should be expected it in the next week or so. Till then I will stick the the newbie thread by Sir O.

burglar said:
Small starts are very difficult because of brokerage and stuff.

There is an excellent thread started by nioka "Investing my first $1500"

https://www.aussiestockforums.com/forums/showthread.php?t=19955

I completely agree, it was a great thread. It was one of the first threads I read prior to making this thread. It was great to see that is it possible albeit he is an experience trader from the sounds of it but nonetheless I did see that from a small bankroll there could be a lot of potential.

Julia · 6 April 2012

torsim said:
I completely agree, it was a great thread. It was one of the first threads I read prior to making this thread. It was great to see that is it possible albeit he is an experience trader from the sounds of it but nonetheless I did see that from a small bankroll there could be a lot of potential.

Just remember that Nioka is extremely experienced.
Might not be so easy for a beginner, but good luck.

Spongle · 25 June 2012

Hi

I'm 31 and have just started my degree...

I've been interested in this stuff for about 1 1/2 yrs now

my advice is read, read and read.

Imho i think forums are the best place for information but... alot of noise, not much signal.

Starting Point?

torsim

McLovin

torsim

burglar

torsim

AlanGreenspan

Likes false Prophets

skyQuake

joea

joea

burglar

torsim

Julia

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Spongle

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