Colin Nicholson produces a great free newsletter called Building Wealth Through Shares.
If you are looking for information about trading shares and their derivatives on steroids then this is not for you however if your wish is to build wealth over time then you will find this newslettter of interest.
I highly agree with Colin when he talks about taking atleast 10 years to become a good trader or investor in his latest newsletter and to avoid borrowing money whilst learning this trade. It was only after about 10 years that I personally felt that I was successful and the last few years have made those first 10 learning to trade worth every minute. Yes you can make big money using borrowed money very quickly in this trade but to me it's like any other form of gambling as you don't have the experience of different market conditions to make the right decisions in times of uncertainity and volitility.
To read and subscribe to Colin's newsletters go to http://www.bwts.com.au/ and click on Newsletters.
Until next time ..........
Keries
Friday, May 4, 2007
Wednesday, May 2, 2007
Introduction to Keries Investment Blog
Welcome to Keries Investment Blog.
Firstly even though I have considerable experience in investing specialising on the Australian Sharemarket I have no formal qualifications in investing or hold any licences what so ever in this field so my advise is do your own research and consult your advisor before investing any of your money.
OK let's talk a little about me so you know that I'm just not some affiliate marketer paraphasing someone else work just to hawk a few products of which they have no idea whether they work or not. I actually make a living trading the stockmarket.
I left my job as a Computer Systems Analyst Programmer just over 15 years ago now basically because I had had enough of the late night call outs and the city life for a I suppose what is now called a "Sea Change". At this stage I had no idea what I was going to do. Now I had a couple of stockmarket investments so I decided to learn how all this works. Even though I knew all about big mainframe computers all I knew about PCs was a bit of word processing so I did a course learning how they all worked and the use of software etc. As co-incidence would have it a fellow rang me to say he had developed some charting software and would I try it out for him. So began my journey of learning technical analysis. At this stage online trading was still a pipedream so I used to use a full service broker who charged me about 5% plus contract fees for each trade. Now with 10% fees in and out of a trade it sure didn't lend itself to day trading. So when Comsec came out with online trading I was one of the first to sign up. But I had a problem I just couldn't press that buy or sell button so I still traded through my "cheap" broker. I must of been having a bad day one day because I finally hit that awful button and the rest is history.
Today I've developed quite a sucessful business trading just a few hours a day with most of my time spent looking for that trade where the odds are in my favor even though I estimate that one can only be right about 80% of the time at the most. I do trade the occassional derivative that's is option, warrant or CFD but I favor trading the actual stocks because I just hate the sound of that clock ticking or in case of CFDs that speedo going the wrong way fast for me. Speedo is my bank balance but believe me it feels like a speedo at times either printing you money or ripping it up. Let's face it derivatives were invented by the big boys to make money. You want big gains then you need to realise you can have big losses too sometimes even with good capital management skills.
So what can you expect from reading my blog? I will endeavour to tell you what works and what doesn't and why. My advise is don't expect to become a succesful trader overnight and I'm skeptical of anyone who says you can as in my opinion you need experience and more importantly to have developed a mindset to cope with and take action for an otherwise pending disaster. In other words you need to learn to act not react when a trade goes against you (I also have it as part of my plan when I enter the trade).
So bookmark my blog for further posts.
Keries
Firstly even though I have considerable experience in investing specialising on the Australian Sharemarket I have no formal qualifications in investing or hold any licences what so ever in this field so my advise is do your own research and consult your advisor before investing any of your money.
OK let's talk a little about me so you know that I'm just not some affiliate marketer paraphasing someone else work just to hawk a few products of which they have no idea whether they work or not. I actually make a living trading the stockmarket.
I left my job as a Computer Systems Analyst Programmer just over 15 years ago now basically because I had had enough of the late night call outs and the city life for a I suppose what is now called a "Sea Change". At this stage I had no idea what I was going to do. Now I had a couple of stockmarket investments so I decided to learn how all this works. Even though I knew all about big mainframe computers all I knew about PCs was a bit of word processing so I did a course learning how they all worked and the use of software etc. As co-incidence would have it a fellow rang me to say he had developed some charting software and would I try it out for him. So began my journey of learning technical analysis. At this stage online trading was still a pipedream so I used to use a full service broker who charged me about 5% plus contract fees for each trade. Now with 10% fees in and out of a trade it sure didn't lend itself to day trading. So when Comsec came out with online trading I was one of the first to sign up. But I had a problem I just couldn't press that buy or sell button so I still traded through my "cheap" broker. I must of been having a bad day one day because I finally hit that awful button and the rest is history.
Today I've developed quite a sucessful business trading just a few hours a day with most of my time spent looking for that trade where the odds are in my favor even though I estimate that one can only be right about 80% of the time at the most. I do trade the occassional derivative that's is option, warrant or CFD but I favor trading the actual stocks because I just hate the sound of that clock ticking or in case of CFDs that speedo going the wrong way fast for me. Speedo is my bank balance but believe me it feels like a speedo at times either printing you money or ripping it up. Let's face it derivatives were invented by the big boys to make money. You want big gains then you need to realise you can have big losses too sometimes even with good capital management skills.
So what can you expect from reading my blog? I will endeavour to tell you what works and what doesn't and why. My advise is don't expect to become a succesful trader overnight and I'm skeptical of anyone who says you can as in my opinion you need experience and more importantly to have developed a mindset to cope with and take action for an otherwise pending disaster. In other words you need to learn to act not react when a trade goes against you (I also have it as part of my plan when I enter the trade).
So bookmark my blog for further posts.
Keries
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