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  1. #11
    Legend shasta's Avatar
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    Quote Originally Posted by marknz88 View Post
    Thanks for all your help shasta and minimoke!

    I now have a much better understanding of how the tax side of things works after clearing out all my wrong understandings.

    I will leave the whole company structure out of the equation until I start earning over the $70k threshold, in which case I will then re evaluate if need be.

    I guess you could say I was getting stuck in a pipe dream BUT

    I do definitely want to give day trading a go. I will be easing my way into it. (currently as I am still building my capital base I watch the markets and paper trade my system with some good results on paper) I understand the need for money management and will be paying strong attention to this.

    I attempt to use TA (I wouldnt classify my self as an absolute beginner, I have had some success so far using TA but am learning more and more every day I watch the markets but not at an intermediate level yet either)

    Margin lending is something I don't want to get into ever really. Bull market or no bull market.

    I currently have $4k in the markets. This is now worth only $2200 roughly. I learned my lesson about stop losses/money preservation and that any profit is a profit the hard way you could say like everybody else. I plan to just pop these stocks in the bottom draw for when the recovery occurs.

    Why its dead money, take the loss & regroup?

    Buy something trending up!

    For the time being I will keep watching and learning and take into consideration your wisdom shasta as you have been doing this much longer than I have.

    I am by no means an expert, & am trying to use more TA to compliment my FA.

    I'm not trading in a bear market, that's like swimming in a rip!

    If I have any future questions I wont hesitate to ask them haha

    You do that

    Thanks again!
    I do wish you all the luck, you're gonna need it!

  2. #12
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    Hi Mark

    i too am a young guy thats very interested in shares. i have just started working fulltime in wellington at an accounting firm that do a lot of tax and corporate advisory. I am completing a few papers through Massey (extramurally) to finish my accounting degree so i can go onto my CA. I am looking to build up a share portfolio, and can see that there will be some great opportunities coming up in the next few years as the recession comes to an end. Being young i am not as risk averse as a lot of traders, but i'm still not keen to chuck my money away into stupid investments. I am only a newbie to all this, so am doing a lot of reading, which includes this forum which is most helpful. Keep me updated on what your up to as I'm in the same boat.

    Clarky

  3. #13
    Legend shasta's Avatar
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    Quote Originally Posted by clarky View Post
    Hi Mark

    i too am a young guy thats very interested in shares. i have just started working fulltime in wellington at an accounting firm that do a lot of tax and corporate advisory. I am completing a few papers through Massey (extramurally) to finish my accounting degree so i can go onto my CA. I am looking to build up a share portfolio, and can see that there will be some great opportunities coming up in the next few years as the recession comes to an end. Being young i am not as risk averse as a lot of traders, but i'm still not keen to chuck my money away into stupid investments. I am only a newbie to all this, so am doing a lot of reading, which includes this forum which is most helpful. Keep me updated on what your up to as I'm in the same boat.

    Clarky
    Absolutely no harm in adding to your capital & reading up, ready for the next upswing...

    Why be in any hurry to give your money to the bears?

    Plenty of opportunities up ahead...

  4. #14
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    Quote Originally Posted by clarky View Post
    Hi Mark

    i too am a young guy thats very interested in shares. i have just started working fulltime in wellington at an accounting firm that do a lot of tax and corporate advisory. I am completing a few papers through Massey (extramurally) to finish my accounting degree so i can go onto my CA. I am looking to build up a share portfolio, and can see that there will be some great opportunities coming up in the next few years as the recession comes to an end. Being young i am not as risk averse as a lot of traders, but i'm still not keen to chuck my money away into stupid investments. I am only a newbie to all this, so am doing a lot of reading, which includes this forum which is most helpful. Keep me updated on what your up to as I'm in the same boat.

    Clarky
    Hey there Clarky! good to know I'm not the only young gun on here haha

    If you dont mind me asking, you working for one of the larger accounting firms our a smaller one (no names are needed, just interested) and what area of accounting are you focusing on at the moment ?

  5. #15
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    Hey Mark
    we tend to do a lot of different work which makes it enjoyable and challenging. We do lots of tax work, compliance, mergers and do a lot of general accounting work and questions for corporates. I didnt know what type of work i would enjoy till i started, but now im heading more towards corporate finance.

    What shares are u currently dabling in? I've taken a little punt on HGD...v risky.

    Clarky

  6. #16
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    <-------- Another Accountant. I'm doing PAS/PCE2 this year

  7. #17
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    Interesting. Yeah ive applied for a few summer intern position this coming summer in the hope that I can get a small taste of a few different areas of accounting.

    At the moment business advisory or risk assurance is where I would like to be heading i think.

    Share wise I trade ASX only, mainly miners. Im down quite a bit on my original holdings from when I started buying last june (learnt my lesson about having stop losses in place) but currently still hold MAK, LYC, CUE from then.

    Since then I have held PDN, VPE (decided to go with VPE instead of BOW when BOW was at 16 , in hindsight I should have gone with BOW)and AOE and still hold IRN.

    40% on PDN in 2 weeks has been my highlight so far hehe)

    Currently Im just watching and saving a bit each week from my PT job so I can purchase some more shares in the next few months!!

    Love actively watching and investing, definitely keeps me more entertained than managerial accounting

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