No, not in the last week,we are starting to go into the period where everything starts to go a bit sideways,and risk taking get blown out the back door for a few weeks..imho..willair..
Dont you just hate that?
- Thread starter evand
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No, not in the last week,we are starting to go into the period where everything starts to go a bit sideways,and risk taking get blown out the back door for a few weeks..imho..willair..
SEK jumped 3%+ yesterday in a crap day on the market. I sold out for $600 gain. (been in and out of SEK about 5 times i think)
Market has been a bit dodgy lately due to uncertainty in the States. Dont let it stop you, just be aware of more risk. There are always good buys, even on bad days. You just have to find them.
Market has been a bit dodgy lately due to uncertainty in the States. Dont let it stop you, just be aware of more risk. There are always good buys, even on bad days. You just have to find them.
Well apparently the US market had a big drop and is effecting everything on my watchlist in a negative way this morning.
Most stocks have dropped around 2-5% already (apart from MIN for some reason??)...just wondering if this could mean some good buying oportunities on Monday morning...we'll see...
Boods
Most stocks have dropped around 2-5% already (apart from MIN for some reason??)...just wondering if this could mean some good buying oportunities on Monday morning...we'll see...
Boods
I'm starting to acquire a position in ACR, two year time frame.
Market went nicely today (for me anyway!)
Bought MCC and FLT yesterday and sold today for a nice little profit.
Was looking at getting back into MCC today if the price dropped below $9.00 as it appears (to me) the current price is right on the underlying trend line. Apparently this can act as a support... Didn't get the chance though. There's always tomorrow!
Boods
Bought MCC and FLT yesterday and sold today for a nice little profit.
Was looking at getting back into MCC today if the price dropped below $9.00 as it appears (to me) the current price is right on the underlying trend line. Apparently this can act as a support... Didn't get the chance though. There's always tomorrow!
Boods
Anyone else own Sirtex, SRX?
I've got 40 k worth of these, that I bought 3 years ago for $2.68. They seem to be going all right at the moment, and jumped 7% today to $5.72.
Sirtex has a treatment for liver cancer. Microscopic radioactive spheres are released into the bloodstream, these spheres then get stuck in the liver, and they treat the cancer directly in the liver, meaning very little side effects. If this treatment ends up being a mainstream cancer treatment, sirtex would increase by many multiples.
Might be worth keeping an eye on..?? I'm thinking of buying a few more.
See ya's.
ps. Anyone who takes free advice about shares from a farmer, on a property forum deserves to lose all their money.
I'm also obviously just ramping this stock hoping to offload to some suckers.
I've got 40 k worth of these, that I bought 3 years ago for $2.68. They seem to be going all right at the moment, and jumped 7% today to $5.72.
Sirtex has a treatment for liver cancer. Microscopic radioactive spheres are released into the bloodstream, these spheres then get stuck in the liver, and they treat the cancer directly in the liver, meaning very little side effects. If this treatment ends up being a mainstream cancer treatment, sirtex would increase by many multiples.
Might be worth keeping an eye on..?? I'm thinking of buying a few more.
See ya's.
ps. Anyone who takes free advice about shares from a farmer, on a property forum deserves to lose all their money.
I'm also obviously just ramping this stock hoping to offload to some suckers.
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I bought another 30k SRX at $5.77 a few days ago, and they are at $6.15 currently. Going well by the looks of things. I don't trade. This is not a trade, but a long term hold.
See ya's.
ps. Anyone who takes free advice about shares from a farmer, on a property forum deserves to lose all their money.
I'm also obviously just ramping this stock hoping to offload to some suckers.
Great thread....I have read it all with interest, (jealousy at some of the figures being quoted).
I haven't fully got my head around working out the trend form the charts yet, but I have not had chance to print out & sit and study them as properly as yet.
Trading shares is something we've been wanting to have a go at for along time, but we've never had enough spare cash to be able to give it a worthwhile go.
Although you guys seem to make it look like it's as easy as printing your own money, it obviously isn't - and unfortunately, my brain doesn't work particularly well when it comes to this sort of thing, (hence why Emma will be pouring over charts whilst we wait for our comsec account to set-up).
Emma and I work full time, and we are quite happy with our incomes. Happy enough to know that unless we really got to grips with trend following and the share markets we'd probably never be in a position to be able to give up work and become day traders.
As said above though, we do have enough whittled away now to at least give it a go and see if we can earn a bit of extra pocket money to help the shortfall on our forthcoming first IP. I know we'll probably never become millionaires, (or even close), by a bit of hobby trading - but we're really interested in how it works and giving it a try. A bit of extra cash off the back of it would be a bonus.
I just wondered if I could ask you all a few basic questions before we go too far though?
1 - We're pretty time poor at the moment, and too busy at work to be able to sneakily real-time watch the shares. Starting out, what are the chances of successfully trading on a very limited timescale with minimal real-time computer access? For example, if the dow closes up on a Friday and we use our weekend time to chart the trends, can we 'set & forget' a trade on a Sunday and leave it to run from the Monday? Once we have placed the buy order and set our sell figures can we forget about it until we get an e-mail to say we've made - or lost? Knowing nothing about how it all works, and not having researched companies etc before, this would really be the way we'd have to start. Assuming we could free up some time in the week we could always add say mid-week trade into the equation, assuming that the trade placed on the Monday has released our pot, (either up or down).
2 - We have got a sum of $10k that we can 'play' with. Whilst they say never invest more than you can afford to loose, we'd obviously like to hang on to as much of this as possible! So, my first question is - just how risky is trading in this manner? I know that's a huge open-ended question as there are so many variables, but what I am getting as is say you buy $10k of shares in a certain company, and decide after you research etc that are willing to set a sell order to lose no more that say $500, (this may be a stupid question but I really know nothing about share dealing), will your sell order always be actioned? Or, does it totally depend on whether someone is sat waiting to buy shares at the time you want to sell?
3 - How do you track your profit/loss for the ATO? If you traded from one account, is it as simple as putting your total profit or loss for the year on your tax return? Or, do you need to keep a complete record of every trade so that you can prove where the money came from, (or indeed went).
4 - Lastly, for now, if you are at a loss come end of June can you offset this loss against your remaining income? I understand some types of losses are quarantined and can only be offset against gains from the same asset class the following year. Is this the case with share dealing, or if we were say $3k down at year end can we deduct that from our tax return, thereby mitigating losses somewhat?
Sorry if the above is all a bit naive, but as I say, we really have very little knowledge of how the process works.
If you managed to read through that lot - Thanks
Hope you all have continued success.
Tone.
I haven't fully got my head around working out the trend form the charts yet, but I have not had chance to print out & sit and study them as properly as yet.
Trading shares is something we've been wanting to have a go at for along time, but we've never had enough spare cash to be able to give it a worthwhile go.
Although you guys seem to make it look like it's as easy as printing your own money, it obviously isn't - and unfortunately, my brain doesn't work particularly well when it comes to this sort of thing, (hence why Emma will be pouring over charts whilst we wait for our comsec account to set-up).
Emma and I work full time, and we are quite happy with our incomes. Happy enough to know that unless we really got to grips with trend following and the share markets we'd probably never be in a position to be able to give up work and become day traders.
As said above though, we do have enough whittled away now to at least give it a go and see if we can earn a bit of extra pocket money to help the shortfall on our forthcoming first IP. I know we'll probably never become millionaires, (or even close), by a bit of hobby trading - but we're really interested in how it works and giving it a try. A bit of extra cash off the back of it would be a bonus.
I just wondered if I could ask you all a few basic questions before we go too far though?
1 - We're pretty time poor at the moment, and too busy at work to be able to sneakily real-time watch the shares. Starting out, what are the chances of successfully trading on a very limited timescale with minimal real-time computer access? For example, if the dow closes up on a Friday and we use our weekend time to chart the trends, can we 'set & forget' a trade on a Sunday and leave it to run from the Monday? Once we have placed the buy order and set our sell figures can we forget about it until we get an e-mail to say we've made - or lost? Knowing nothing about how it all works, and not having researched companies etc before, this would really be the way we'd have to start. Assuming we could free up some time in the week we could always add say mid-week trade into the equation, assuming that the trade placed on the Monday has released our pot, (either up or down).
2 - We have got a sum of $10k that we can 'play' with. Whilst they say never invest more than you can afford to loose, we'd obviously like to hang on to as much of this as possible! So, my first question is - just how risky is trading in this manner? I know that's a huge open-ended question as there are so many variables, but what I am getting as is say you buy $10k of shares in a certain company, and decide after you research etc that are willing to set a sell order to lose no more that say $500, (this may be a stupid question but I really know nothing about share dealing), will your sell order always be actioned? Or, does it totally depend on whether someone is sat waiting to buy shares at the time you want to sell?
3 - How do you track your profit/loss for the ATO? If you traded from one account, is it as simple as putting your total profit or loss for the year on your tax return? Or, do you need to keep a complete record of every trade so that you can prove where the money came from, (or indeed went).
4 - Lastly, for now, if you are at a loss come end of June can you offset this loss against your remaining income? I understand some types of losses are quarantined and can only be offset against gains from the same asset class the following year. Is this the case with share dealing, or if we were say $3k down at year end can we deduct that from our tax return, thereby mitigating losses somewhat?
Sorry if the above is all a bit naive, but as I say, we really have very little knowledge of how the process works.
If you managed to read through that lot - Thanks
Hope you all have continued success.
Tone.
A few comments.
Bottom line is: it's much harder than it looks, and the more frequently you trade, the harder it gets.
Risk is very hard to define, as there are so many ways to do things and there's a different level of risk associated with each company. There are techniques to manage it, but you will lose money at times, that's a given. The aim is over the longer term to lose less than you make.
If you're not trading in your own name, then no, you can't offset any losses against your other income. Losses can't be distributed from companies or trusts.
If you're a share investor, then all trading losses are capital losses and can only be offset against future or current capital gains. If you're a share trading business, then all losses are revenue losses and can be offset against other income. However, you can't then claim any 50% CGT discount for anything held longer than one year, and you may need to prove to the ATO that you are indeed running a business and not just "investing".
All just my understanding. I'm not an accountant.
GP
Always take everything you read on any forum in relation to share trading or investing with a big grain of salt. Many people delight in telling you about their big wins, or how much they made on one particular day, but it's the long term profitability that counts, not the individual trades. Even people who blew the lot probably had a good week somewhere along the line.
Bottom line is: it's much harder than it looks, and the more frequently you trade, the harder it gets.
If you're talking about trend following, you're probably meaning longer-term trades, so being able to monitor in real time is not important (and can even be detrimental from a psychological point of view). With longer-term trends, you want to ignore the daily noise, so there's little point watching during the day.
That's "lose", and yes, it's very easy to lose the lot. Not in a single trade, if you invest in large, well-known corporations, but over time if you keep losing more than you make, you'll eventually blow the lot.
Risk is very hard to define, as there are so many ways to do things and there's a different level of risk associated with each company. There are techniques to manage it, but you will lose money at times, that's a given. The aim is over the longer term to lose less than you make.
Depends how much you're doing. If you only buy and sell half a dozen shares all year, you could just work it out from the contract notes come tax time. However, if you're doing a lot, I think you'd want to keep a spreadsheet or use software like Stator, otherwise your accountant might charge you more to process it all. Doing it yourself can be tricky too. Some dividends and trust distributions can be pretty hard to figure out.
Depends on whether you're trading in your own name or not, and whether your intention is to be a share investor or run a share trading business.
If you're not trading in your own name, then no, you can't offset any losses against your other income. Losses can't be distributed from companies or trusts.
If you're a share investor, then all trading losses are capital losses and can only be offset against future or current capital gains. If you're a share trading business, then all losses are revenue losses and can be offset against other income. However, you can't then claim any 50% CGT discount for anything held longer than one year, and you may need to prove to the ATO that you are indeed running a business and not just "investing".
All just my understanding. I'm not an accountant.
GP
Thanks GP...
I realize that, my 'easy money' comment was firmly tongue in cheek. If it were that easy anyone with a passing interest, a few quid and an internet connection would be doing it I suppose.
Interesting stuff, thanks.
Thanks for the grammar lesson, I missed that one on pre-post re-read. I didn't make my initial post clear enough, what I was getting at was the likelyhood of losing your whole 10k on one trade when you have a sell order in place? Although we can put up 10k to 'play' with, we'd look to set a loss at say max $500.00 on 10k. If a pick tanked and our sell order kicked in, then what could go wrong for you to lose more than you had set your sell order at? The intention is that we'd only trade when we have a spare $500 that we can afford to lose, so short of some sort of disaster, we should be able to maintain the 10k to use by saving up for losses and banking any gains.
So, as a private individual trading shares, is any gain made from trading a capital gain?. If I am down at year end, it's a capital loss and cannot be deducted from yearly income. If I am up the following year, can the previous years capital loss be deducted from the gain made due to shares that year?
Can capital losses be deducted from different investment classes? eg. if I lost money this year due to trading, but than next year sold an investment property, can the share trade capital loss be deducted from the property capital gain?
Thanks again for the reply.
Tony.
I realize that, my 'easy money' comment was firmly tongue in cheek. If it were that easy anyone with a passing interest, a few quid and an internet connection would be doing it I suppose.
Interesting stuff, thanks.
Thanks for the grammar lesson, I missed that one on pre-post re-read. I didn't make my initial post clear enough, what I was getting at was the likelyhood of losing your whole 10k on one trade when you have a sell order in place? Although we can put up 10k to 'play' with, we'd look to set a loss at say max $500.00 on 10k. If a pick tanked and our sell order kicked in, then what could go wrong for you to lose more than you had set your sell order at? The intention is that we'd only trade when we have a spare $500 that we can afford to lose, so short of some sort of disaster, we should be able to maintain the 10k to use by saving up for losses and banking any gains.
So, as a private individual trading shares, is any gain made from trading a capital gain?. If I am down at year end, it's a capital loss and cannot be deducted from yearly income. If I am up the following year, can the previous years capital loss be deducted from the gain made due to shares that year?
Can capital losses be deducted from different investment classes? eg. if I lost money this year due to trading, but than next year sold an investment property, can the share trade capital loss be deducted from the property capital gain?
Thanks again for the reply.
Tony.
Tony and Emma, my suggestion would be to do a bit of research and buy a couple of shares, maybe split your 10 k 5 ways and then watch what those shares do. If you make say 10% (after brokerage) on one of them in a few weeks then consider selling and picking another. do this for a while just to get used to how it feels to have real money in the market i.e. do you panic when one of your shares drop? This is basically how I started and I now trade full time. Don't look to make millions from the get go just aim to beat the bank.
you will gradually get the feel for it and then you will know if it is for you or not. My goal when i started was to make 1000 per week so that we could live! which was about .7% per week on my trading capital. Now though we average about 5% per week (CFDs). That is an average - some weeks way less and some weeks way more!
It is the easiest way I have ever made money, but i can see that it is definitely NOT for everyone.
you will gradually get the feel for it and then you will know if it is for you or not. My goal when i started was to make 1000 per week so that we could live! which was about .7% per week on my trading capital. Now though we average about 5% per week (CFDs). That is an average - some weeks way less and some weeks way more!
It is the easiest way I have ever made money, but i can see that it is definitely NOT for everyone.
I'm with Joan on this one. Divide your $10k between 5-10 stocks and if any stock falls 5% -10% below your buy price (depending on your risk tolerance) , you sell. No questions, just sell.
That way you risk only 1% of your $10k on any stock if you have 10 @$1k each. Try to buy each stock in a different performing sector, or no more than 2 in one sector.
Buy some books and read up. It takes years to get a feel and understand the markets (took me about 8 years on and off trading before i could consistently make money in a good market) and i lost a bit of money before i made money.
Oh, and Great Pig, i'm consistently profitable these days. If the market's ok i make money, if it's not i mostly stay out. But i get your point. Its like pokie players, you only hear about the big wins.
Latest good consistent performer for me is ORL. MCC is having a break for a while. In fact the whole market has been a bit dodgy lately but still quite a few good stocks out there.
That way you risk only 1% of your $10k on any stock if you have 10 @$1k each. Try to buy each stock in a different performing sector, or no more than 2 in one sector.
Buy some books and read up. It takes years to get a feel and understand the markets (took me about 8 years on and off trading before i could consistently make money in a good market) and i lost a bit of money before i made money.
Oh, and Great Pig, i'm consistently profitable these days. If the market's ok i make money, if it's not i mostly stay out. But i get your point. Its like pokie players, you only hear about the big wins.
Latest good consistent performer for me is ORL. MCC is having a break for a while. In fact the whole market has been a bit dodgy lately but still quite a few good stocks out there.
