Newbie and some questions

[stoploss]

Cheers Stoploss i'll check out those books.

I have no exit plan which has been worrying me for a while and am definitely looking at setting some simple rules. I always just get stuck on what to set as everyone has different rules and everyone could be right or wrong. I have the basic one's e.g price falling through 200ma and the death cross etc, but am looking at setting trailing stop's below support points possibly at a strategy to get out in a turning market. What are some good rules to be out when it goes wrong?

I think my biggest weakness is profit taking. I've jumped the gun in taking profits before and although it is impossible to pick the top it would be nice to take profits close to the top of a rise in PEB for example.

What are your rules?

I'll probably just buy the books but thanks for the offer, i like having books around to check things and catch up on chapters to haha. Reading some of these books once isn't enough to give me the full picture!

It seem's alot of investors hold more stable stocks for dividends as an income, which i don't really need so i'm thinking of only buying growth stocks?

Thanks.

Don't entirely rule out income stocks they can also provide good capital gains. Re the rules William O , uses a strict 7 % S/L however for the smaller cap stocks in NZ and Aussie I find this way too close. If a stock I have goes up plenty I take some profit , so I can buy some back on any pullback . When up 100 % I look to liquidate enough so I have a free carry so to speak ....I do all this through a company pay tax etc .....
Re the education front I always maintained at school you never learnt about ( arguably ) the 2 biggest things you do in life , have kids and buying a house. I have an interest in Financial literacy and believe it should be compulsory at school from an early age .... somewhere along the line we have to stop the rorts and boom and bust mentality in NZ ...Kiwisaver is a great start , but we have a long way to go .
Everyone is different as you will see from those books so I will let you come up with your own rules ....The best thing is you have started early and will have plenty of time to develop sound strategies that will see you through " any market conditions " ......

[Wolf]

Don't entirely rule out income stocks they can also provide good capital gains. Re the rules William O , uses a strict 7 % S/L however for the smaller cap stocks in NZ and Aussie I find this way too close. If a stock I have goes up plenty I take some profit , so I can buy some back on any pullback . When up 100 % I look to liquidate enough so I have a free carry so to speak ....I do all this through a company pay tax etc .....
Re the education front I always maintained at school you never learnt about ( arguably ) the 2 biggest things you do in life , have kids and buying a house. I have an interest in Financial literacy and believe it should be compulsory at school from an early age .... somewhere along the line we have to stop the rorts and boom and bust mentality in NZ ...Kiwisaver is a great start , but we have a long way to go .
Everyone is different as you will see from those books so I will let you come up with your own rules ....The best thing is you have started early and will have plenty of time to develop sound strategies that will see you through " any market conditions " ......

Cheer's stoploss,

I came across wrong. Im not ruling out income stocks I just won't buy stocks for the div. For example before i got serious, i was stupid enough to pick up some MRP shares in the IPO. I'll probably hold them until National is re-elected or if not put them in the bottom draw until they are re-elected When i got them at $2.5 they were pretty fairly valued and the only income would be from div's.

ZEL.NZ i picked up for a good div company too but in all fairness it's earnings aren't going to grow alot over the next decade or so and neither will it's share price. I'm going to hold ZEL.NZ for a while longer as i feel they could be undervalued depending on how they go. I went nuts trying to figure out a EPS% growth rate over the next few years as i have no clue and brokers range from 3%-15%. Now i wouldn't have bought ZEL because i couldn't forecast its growth.

Do you do all you're investing through a company? I do my own tax.

Definitely agree with you around financial literacy and kids etc haha.

Thanks stoploss.