greetings fellow investors

wow am I glad I found this site!!

I am a property investor first but since Christmas I have been making my living from trading shares.

I have been looking for something like this as I find it a bit lonely as none of my family or friends invest and I am now nearly desperate for someone to talk to

I have read a huge number of investing books and am basically self taught with my trading, I don't follow any one's system other than the one I have set myself.

I am looking forward to posting and chatting on the forums

 

So what books have you read, and which of them have had the biggest impact on your investing life?

 

What's your system?
How do you pick the shares to watch? How do you determine when to buy them? How tight a stop loss do you apply? How do you choose when to sell them (if at all)(if not stopped out)?

I'm thinking of trying Darryl Morley's method, once I've got a savings goal out of the way...

 

Good morning. the books that really stand out for me are Rich Dad , Poor Dad (robert Kiyosaki), How to be rich and happy (hans Jakobi), Millionaire mindset (Pat Mesiti all time favorite), How to build a multimillion dollar property portfolio ( michael Yardney), all of Anita Bells books. I take in everything and then go with what works for me.

My trading system...hmmm...you will probably all laugh but here goes...

I started by watching a few shares (about 10) that I understood i.e banks miners, companies that I knew. I watched their charts go up and down looking for how much they can move over a day or two. then when I felt they were at a lowish point I would buy in a block of 1000.
Then depending on the share when it had moved about 50 cents I would sell and take my $500. As I got used to the 10 I was using I started looking for more to add. I read investing magazines so I would look at their stories and recommendations and if I felt it made sense I would add that share to my watch list to see how it moved.

My list is now about 25 shares, some are little and I buy blocks of 10 000 and look for a smaller move, but generally I am looking for either 400, 500 or 1000 profit per trade. If everthing starts going against me I will pull out with only 50 bucks and sit and wait.

So far I am averaging 4000 per week profit so I am pretty happy with that. I keep tweaking what I am doing and which shares I am buying.

Oh yeah and I read their financial statements too before I decide to buy and I try to keep to high volume movers.

that's about it.

 

Hi there, sounds like a good system, you maybe could try writing options in the US market. I've been doing it for about a year & using a LOC from a property, its been pretty darn good. Use collars for protection, and easily recoup any losses. Sounds like you have some decent buying power, you could be getting average 5% return a month on the US market. Free trade ideas on this blog:
Options Trading - Low Risk Strategies for the Conservative Investor