New to Sharemarket

Gday Folks
I was just hoping for a bit of direction from some of the more experienced share market people if at all possible.
I have just started investigating it as an option (have been a "property is king" person), in the past I just dismissed it as something to time intensive, too risky, etc. Obviously these things are ridiculous assumptions to make.

I purchase a book by by Daryl Guppy called Share Trading, and I have been reading that. I am only about half way through, but am enjoying it greatly.

I wonder if anyone could let me know any resources you would recommend for someone looking into share trading as an option. Whether it is books, a good forum or website, or whatever, I would greatly appreciate it. I would also be hugely interested if anyone here trades shares for a living, how they may have gotten started, what they think of it, would they do it again, how their life has changed since going down that path, etc.

From reading the Guppy book, it seems as though a share trading business is a valid option for making a living, as long as it is treated like a normal business and not a casino, and one ensures that appropriate strategies for all aspects of the business are in place. This sounds quite exciting, and I look forward to any feedback you would care to give. Thanks a lot!

 

coopranos,

Check this link. http://www.invested.com.au/24/books-308/?highlight=books
and Stock Market Trading - Trading Education
Also you may consider below short article written by Louise Bedford.

Louise's Thoughts
When becoming a successful trader, what’s the greatest impediment people face? Ineffective money management skills, perhaps? Not sticking to a trading plan? Insufficient knowledge? Gosh – it seems that there are hundreds of things that can work against you on your journey towards becoming profitable.
Having watched many of the people I’ve trained subsequently become successful traders, I would like to suggest that there is really only one essential attribute to achieving consistent profitability. That quality is persistence.
I’ve seen people get started, and quit trading as early as one month into their apprenticeship, or after 10 years of trading. No matter how long they’ve been trading, by quitting, they are cutting their profits off at the knees. They lacked the persistence required for their education to really pay off. The main separating factor between success and failure lives in that fragile six inches between your ears.
If you haven’t started trading, you may wonder why people give up at all. “Surely it’s simple,” you may say to yourself. “All you have to do is develop a trading plan and follow it, no matter what.” It tends to be the “no matter what” part of this statement that is the perpetual problem. Sometimes it’s not a calamity that drives you towards trading oblivion. It could be the advice of well-meaning friends, or even just the grind of every day life that makes you abandon your plan, and take the easy way out and flop in front of the TV.
Rather than broadcasting your plans to become a full-time trader and dominate the world’s economy, it is wise to keep your trading aspirations to yourself. Be discerning whom you tell. It's very easy for people to slam someone else's ambitions, without providing any alternative or offering to pay their bills - even when they don't have experience in that particular field.
Have you made a decision to stick with this for life? Have you got the conviction to really make a go of this? These are questions that only you can answer.
One of the unfortunate side-effects of the ‘sharemarket seminar’ culture that seems to have sprung up over the past 5 years or so, is that many people get a bit of education, yet still feel woefully inadequate. The feeling that they can never be fully prepared to begin trading may persist, no matter how much education is sought and how many seminars attended. The decision to put money into the market is delayed, and before you know it, years have slipped past in a haze of seminars and broken promises. The application of knowledge is the only way to test it out. No matter how good something sounds on paper, or during a seminar, you’ll never know if it will work for you unless you implement those suggestions. In a way, it makes me incredibly glad that I didn’t realise how little I knew when I got started trading 15 years ago. Maybe the feeling of intellectual inadequacy would have stopped me in my tracks!
I don't think you will ever feel like you 'know enough'. I still feel like a babe in the woods and I've been trading for ages. I learn new things all the time. This is nothing to be ashamed of. It is the sign of an enquiring mind. However, there just comes a time when you have to test out the knowledge you have in the real world.
The fact that you’re reading this newsletter suggests to me that you already have more experience than I ever did when I put on my first trade. Sometimes you’ve just got to jump in. Keep in mind that the market will teach you everything you need to know about any gaps in your knowledge.

If you haven’t started trading yet, I suggest is that you set a date a couple of weeks in advance or plan for a certain market condition to be fulfilled (e.g. the All-Ords giving a bullish signal). Once this date or condition is met, then put on your first trade without hesitation. Tell someone you respect and admire your ‘date’ and ask him or her to phone you on that day to help you keep your promise. This method will give your subconscious a deadline, and if there is anything missing from your plan, your subconscious may just come up with an idea that will assist.
– Louise Bedford

 

I would say that bottom line is 30%+.
Some very good private pro are making consistently between 60% -100% annually.