Stock Market

[BB gun]

I made some money in property then decided to study up on the stockmarket. Something just clicked in me, so decided to give it a red hot go, then lots and lots of reading, looking at charts, figuring out what works what doesn’t work, over coming my own physiological weaknesses ect. Then by learning from my mistakes. It all seems simple, but very difficult to overcome. The statistics aren’t great for long term survival in this game, its brutal.

Learning wise, id recommend joining www.tradersnetwork.org (they have a free trial I think, well worth the subs if there isn’t), where quite few professional traders reside. See what books they recommend (I could tell you a few but theres some good write ups there), ask lots questions, read everything they have to say, look at typical setups they use (many people post charts). Get your own charting package and data feed then experiment, start working out your own system. It needs to be your own, as trading requires heaps of discipline, the system must sit well within your own beliefs.

While your learning, build up trading capital. Many traders fail due to being under capitalised. Some people say a 10k min start up, id think you need more like 50k and ideally 100k and its quite possible you could lose most of it.

Anyway, hope you find the above useful, if not I know you’ll at least find a wealth of information at the website above.

thanks, but tradersnetwork no longer has a free trial membership.

 

[Dr Who]

thanks, but tradersnetwork no longer has a free trial membership.

There are other forums around such as sharescene.com, incredible charts, hotcopper and reefcap to name a few, are all free. From the above id say incredible charts would be the next best from an educational point of view. However id still recommend coughing up for the subs if your serious.

 

[morgoth]

Potentially some good buying opps coming up if you believe the resource story is pretty much intact and you can identify the stocks that will be suported.

FMG got hammered, why anyone would believe 'Twiggy' after Anaconda has me beat. Make him prove it before he is rewarded.

 

[PrideofSA]

I trade only in Options on the US markets, and make money in all market situations (up, down sideways)

You don't need much capital at all to start at all

see my options thread regarding options.

 

[Frodo]

Potentially some good buying opps coming up if you believe the resource story is pretty much intact and you can identify the stocks that will be suported.

FMG got hammered, why anyone would believe 'Twiggy' after Anaconda has me beat. Make him prove it before he is rewarded.

Spot on. He is a dope. He built a plant with instructions to the consultants to use the cheapest equipment they could use. Result was a heap of rubbish with no local support.