Australia's largest stock trading and investment forum Australia's #1 stock forum

Landlords are Leaches, page-1037

First 1037 Last

Share
Profile

Follow
Bunn-Wackett

24,682 Posts.

1416

20/05/24

20:13

Post #: 73921905
Share

Originally posted by nursery: ↑

I'd go the other way and say the first $1000 is the one to aim at. Most people can manage to find $1,000. $300,000 is usually not available for most people. Then you have to make a choice in a spec stock to trade. The company doesn't have to be successful, just volatile. Then you trade the pips.

When it has doubled you split it into two and progress to owning and trading ten stocks.

The increase in portfolio value can be exponential. The ten stocks I trade are; DRE LYC SYA IVZ KP2 AVL THB STX PLL LKE AGY VMS TTM.

It's best to trade a minimum of $1,200 each time as brokerage is a problem for anything smaller. Penny stocks are also best as often one or two pips can be profitable. Check out the weekly charts on the stocks you choose. Set up to anticipate company announcements.

Experiment with a "ghost" portfolio at first and get the feeling.

Be prepared to pay capital gains tax. It can be a killer. I got caught for over $300,000 one year. You can be classified by the tax department as a trader and the profit is not then a capital gain but as "income".

That was my way of being a "Master strategist".

Expand

I don't think Charlie Munger would ever be offer that advice
2 Upvote

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

SGR

Thousands eye Star on HotCopper, SkyCity in strife – are ASX casino stocks safe anymore?

ASX Market Open: ASX set for red Friday after flat night in Wall Street | 18 Oct

TYP

Tryptamine psilocin treatment found safe in IV infusion during early stage trial

YAL

Yancoal Australia reports strong Q3 financials

TLX

Telix Pharmaceuticals' quarterly revenue exceeds AU$200M

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%

M4M

Macro and Norden set up transport solutions initiative for West Pilbara

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

THB

Thunderbird picks up plethora of uranium targets based on EM survey in Canada

There are more pages in this discussion • 183 more messages in this thread...

First 1037 Last