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Discussion in 'Introductions' started by Hosko, 25th Nov, 2016.

  1. Hosko

    Hosko Well-Known Member

    Joined:
    25th Sep, 2016
    Posts:
    79
    Location:
    Victoria
    A quick intro. I work full time, but have an interest in the sharemarket.

    I play around with ASX Options on a regular basis but this is purely to generate a little bit of cashflow or grocery money. Some weeks it goes better than others and we could have a trip to Bali, other weeks it would mean baked beans for 3 meals a day.

    Being a novice I am in awe of the achievements of some people on these internet forums. Great place for learning once you sort through the chaff.
     
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  2. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    3rd Nov, 2013
    Posts:
    977
    Location:
    QLD
    Hi Hoosko ,

    just be warned , even the best have bad days ( just hopefully less often )

    one trick that has served me well , is to take SOME profit , when reasonably in front ( that will vary for each individual ).

    another trick is to assess what is luck and what is skill ( there is a difference ).

    always make sure you do not overcommit ( events like Brexit and the US elections , show you the unexpected CAN happen ).

    good luck .
     
  3. Hosko

    Hosko Well-Known Member

    Joined:
    25th Sep, 2016
    Posts:
    79
    Location:
    Victoria
    Thanks Twisted Strategies,

    All I need to get sorted is taking a small loss instead of burying my head in the sand thinking the position will come right then I've got this thing sorted!
    When this happens - Happy days are here.

    Just a bit of interest for me at the moment, not risking money we have set aside for food, water or the kids education.
     
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  4. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    3rd Nov, 2013
    Posts:
    977
    Location:
    QLD
    LOL ,

    the ( Aussie ) economy needs sorting first , then you will have a fair chance of building a sensible asset base ( be that a home , a portfolio of bonds , or shares , or any other sensible mixture )

    the education part will be the most enduring asset ( but be flexible in applying the lessons .)

    re the kid's education ... getting them competent as investors might be a big start as well ( for their future ). .. not everyone is the same and the variation in thinking within your family group might yield a silver lining .

    ( even novices get things very right once in a while )

    PS you will ( almost ) always have losses , but using the gains wisely can make all the difference .

    dont be impatient , the markets rise and fall regularly the US markets are back at ( all-time ) record highs ... that doesn't mean it will collapse this week ( or even year ) but it does raise the chances of a big ( 10% or more ) fall .

    should that happen , have you a list of primary targets ( to watch first ) having it researched and written down is a big help when others are stunned and confused
     
  5. Hosko

    Hosko Well-Known Member

    Joined:
    25th Sep, 2016
    Posts:
    79
    Location:
    Victoria
    Got it TS,

    I like to think that I know what direction I'm headed and what the plan is.

    It's generally short term positions with ASX options, 70% held for less than a week none for more than 6 weeks. Reporting season is a little more active so this is the time when there are movements outside the broad market lifting or lowering the share price.

    This is our current cashflow play to assist with our lifestyle, the odd holiday, etc we also have property for the longer term.

    The longer term plan is to have money tied up in stocks and the divi's to be supporting us. About 20 years away at the moment.........
     
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  6. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    3rd Nov, 2013
    Posts:
    977
    Location:
    QLD
    a plan is good , some flexibilty could be useful .

    having time to plan and adjust should be a bonus as well
     
  7. Hosko

    Hosko Well-Known Member

    Joined:
    25th Sep, 2016
    Posts:
    79
    Location:
    Victoria
    Time was on our side before the GFC, got absolutely smashed. Here we are 10 years down the track, 2 little sprogs on the ground, live in a different state, a few houses (well the bank does). Have since changed the plan a couple of times but the end game has remained the target. Live off FF div's.
    Oh well, only 20 more summers until retirement!
     
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  8. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    3rd Nov, 2013
    Posts:
    977
    Location:
    QLD
    Hosko ,

    good luck

    i got retired just before the New Year ( on medical grounds ).

    time is still on your side , i had between 2011 and 2017

    i will thrive or fail on mostly decisions already taken .in that period .



    'risk comes in all shapes and sizes

    even retirement can come early for some

    cheers !