Jas626, my story......
Did the usual novice thing and got tips/advice from everywhere for first 3 years - no real system.
Had a brilliant run (picked a few 10 baggers that propped up my losses) and got up 80% on original stake.
Last year the bubble burst and I was down to 40% of my original stake.
So I read some books and devised a plan not to lose.
1. buy only when definite weekly uptrend established (50MA crosses 200MA, 100MA over 200MA, etc.)
2. stop losses on everything, probably about 10% trailing but each case on it's merits.
3. must have an increase in volume happening (Instos are buying, and not being pumped)
4. stock must be no more than 20% of stake including cash (cash is king).
5. pay more attention to weeklies than dailies to avoid getting stopped out by volatility.
6. better to invest in top 1000 ASX if possible because upward trends are slow but sure.
7. and easier to sell when losing puff, instead of dropping like a stone.
There's a few other bits, but too long winded to go on (don't love a stock/research tips until/if they fit your criteria).
In general, not being greedy, I'm working on 1% a day profit which extrapolates to 230% per year, but I am getting better at it.
Imagine $10000 being $30000 after one year and so on. Freehold I think mentioned compound interest.
It's nice looking at green figures on your screen, because if they're red, get ready to pull the trigger.
In a nutshell, I'm a lot more relaxed about my shares because I'm confident I've got it mostly right.
Not going to be rich overnight, but in a few years I'll be comfortable.
Currently learning how to short, because when the correction happens, I've been stopped out and 100% in cash.
Jas626, I hope this gives you some direction.
