Just started out share trading...

[jeremyhowell]

Thanks Strat. I really am just starting out, my goal is to eventually be able to confidently and fairly successfully trade, probably mostly day trading, CFDs mostly. Probably mostly trading more than investing.

I have no notable skills in this area to speak of, so yeah, trying to learn all I can from others.

[shasta]

Thanks Strat. I really am just starting out, my goal is to eventually be able to confidently and fairly successfully trade, probably mostly day trading, CFDs mostly. Probably mostly trading more than investing.

I have no notable skills in this area to speak of, so yeah, trying to learn all I can from others.

Are you serious?

Day trading using CFD's for leverage, you couldn't pick a harder way to make money if you tried!

If you have been "seduced" into the markets thinking it's easy, you will lose all your capital quicker than you think.

If you wanna go the trading way, read all the related threads where Phaedrus provide links to educational sites etc & learn about charting etc

It's not easy & as a novice you do realise you are "up against" experienced pro's who trade for a living, & not many "experts" make money off the markets day trading, it really is a hard way to make money & takes total discipline to do.

I've never done this myself, as im primarily a fundamental investor, although i do understands some aspects of TA (charting).

Like Strat mentioned, try & narrow down what it is you really want to do/achieve & perhaps try out investing before trading.

You can make money using either, but the better results come from using both TA & FA

[STRAT]

Thanks Strat. I really am just starting out, my goal is to eventually be able to confidently and fairly successfully trade, probably mostly day trading, CFDs mostly. Probably mostly trading more than investing.

I have no notable skills in this area to speak of, so yeah, trying to learn all I can from others.

A fella joined this site to sell his wares a wee while back. Anyways when asked directly how many of his CFD clients were winners I think he admitted to about 10%. Reckon it would have been a lot less. I will try and find the thread a bit later.
If its being advertized on the TV its either been and gone or never was worth the bother in the first place I reckon.


The single most important and effective thing I have done in this game was to realize my skill level or lack of and when it all got too hard I got out and stayed out until it got easier. sometimes not trading for as long as 7 months. Just sitting on my hands watching.

Day trading is a difficult and full time job. Im not saying dont do it, just leave it till last.

By the way Im mostly sitting on my hands now.

[jeremyhowell]

OK, thanks very much for the advice. I am actually just watching at the moment myself. I will probably start out with just investing as you have suggested, but I probably need help their too. How do you know what companies will do well in the long haul? How do you pick winners? Any good books to read? People to listen too?

[STRAT]

OK, thanks very much for the advice. I am actually just watching at the moment myself. I will probably start out with just investing as you have suggested, but I probably need help their too. How do you know what companies will do well in the long haul? How do you pick winners? Any good books to read? People to listen too?

Hi Jeremy
Not so much advice, just opinion.

As to investing, This also takes considerable skill in which I am sadly lacking. I have had relative success in short to medium term trading. This is where I have found I do best.

There are many ways to skin a cat. In the end it will be up to you to find where you you fit.

[jeremyhowell]

I guess I'll get their one day.

So apart from CFDs, are their any other note worthy ways to trade short term?

[shasta]

OK, thanks very much for the advice. I am actually just watching at the moment myself. I will probably start out with just investing as you have suggested, but I probably need help their too. How do you know what companies will do well in the long haul? How do you pick winners? Any good books to read? People to listen too?

A great place to start is to find an area of interest that you have, or some industry you may have an insight into.

Have a look thru the NZX & see if there are any sectors/companies you like, that fit the bill

Also have a look on the ASX where there are far more companies (& much larger) for comparisons

Being very general here, the but NZX interest on Sharetrader largely is with the conservative, dividend paying companies (investors needing the income)

The ASX on Sharetrader is largely focussed on Oil & Gas companies & the mining sector, but theres far more to it than that!

Navigate your way around the newbie section & see where the other new members have posted questions & got answers

[shasta]

I guess I'll get their one day.

So apart from CFDs, are their any other note worthy ways to trade short term?

If you are hell bent on using leveraged instruments you could find a broker who has "margin lending" facilities

I've used these before, but they arent for everyone!

[peat]

CFD's dont need to be highly leveraged jeremy
I trade them but I only use them as a relatively cheap (transaction costs) way to be in the market without necessarily highly leveraging
And of course they provide the additional benefit of being able to easily trade long or short

leverage is what kills.

[jeremyhowell]

So whats the best way to find companies in a particular sector ie mining listed on the ASX/NZX?