Morning all. For peeps complaining that I'm not calling out massive winners all day. For newbies and the clueless I'll just make a quick comment.
What we do here is gambling, not investing in quality shares. Stocks that have no earning and little cash and are run by scammers are not things you should leave $$$s lying around in. By the same token, they are where $$$s can be made by 'gambling' on the factors that push SPs on speccy stocks.
I'm happy to admit I'm not a great gambler or punter but I have been betting since I was 7 years old (degenerate grandfather) and I've spent most of my life punting on stuff for a living. I've seen people make billions (David Walsh was a mate back in the day) and others who wouldn't want their names mentioned. Personally I've made plenty, but more from realestate which was pure luck.
SO I'm not here to call stocks that everyone can see are the hot stocks. If you can't see these then give up now.I just try to give a few hints about how to gamble and pitfalls that abound on this thread. Not as much as in the past cos basically I realised that not many are interested. They'd rather some flea on here tell them to buy a two week old runner at the top of the chart.
However, in my experience the biggest problem to success at punting is not getting winners, it's not having massive losses. If you follow the market and pick up on the runners and then don't lose it all by getting carried away with your brilliance then you have a chance. You do also need to take some heavy losses to make you realise where the problems might lie.
You do need to know the basics and as much info as you can about ASX stocks. But the trick is to interpret that in terms of finding stocks with potential to go up and then know when to stop. There are a thousand variations on the theme so hard to do specifics but that where a few experience comes in handy.
Anyway, good luck and think about improving your gambling techniques at least as much as your stock selection. Maybe read David Walsh's book 'A Bone of Fact' which is a crap book but there are insights there from someone whose made more $$$ than you can dream of.
