Hi Nugett,Trust me, it is a very big world out there...Think...

Hi Nugett,

Trust me, it is a very big world out there...

Think outside the box...

Well done ECSC, I do not think $3000 profit is pathetic, I am happy for you.




and for me, I am even happy with 1%, let alone 2%...lol.


Nugett, I hope one day you will understand...it is the share market we are talking about here...not $10 bet at the pub on the dogs...


...and $150,000 doesn't get you very far these days in life...I work very hard for my money.



Nugett, quoted from you, "would love to see you guys try to make money wiht only a grand".


No disrespect...but most of the traders here pays more than $1000 a day just on the brokerage.

Here is how I think you should do it, if you are under 30s and have a passion about trading...

Find a full time job, work hard, save money, buy a house, let it grow for 5 years, but another house and let it grow for another 5 years. Sell one, get the captial out. And during that 10 years time, try and understand the market, do lots of paper traders. When you are ready, don't trade penny stocks. Trade only the asx 20, banks and the miners because they go with the market.

Get $50k out, put it in the CFD account, so you can long/short the market. Banks are good for long and short, because Banks can't be oven taken by law therefore they shouldn't jump 20% over night and kill your short position. Most of the banks daily movement are only within the 3%, they are less volatile. Say you were shorting LGL at $3, and NCM overnight came out with an ann. LGL jumped 20%, and that would kill your short position, and that is why stocks gaps up or gaps down, due to margin calls.

$50k in CFD = $500k worth of buying power. Say you use $30k margin 10% on most bluechips it becomes $300k.

$300k say for Woolworth to go up 5% in one week, that is $15k profit, and that $15k profit becomes another $150k worth of buying power, it will become like a snow ball. Then of course, if you don't know what you doing, CFD is also a very very high risk tool. If you were long in Woolworth $300k worth of stock and Woolworth goes under tomorrow, your CFD account will be -$250k, which means you will owe the bank $250k......what are the likely hood for Woolworth to go under tomorrow...well I don't know...hehe.

It's all about managing your risk.

But you see what I mean? However, if you must use $1000 to trade...I wouldn't trade stocks...I would trade the Index, $5 a point, say if you are good, when Dow crashes 200 pts, that's $1000 in one single night...

The point I am trying to make is...you do not need to trade penny stocks to make money, and please don't say 2% profit is pathetic.


DISCLAIMER: NO FINANCIAL ADVICE GIVEN, AS I DO NOT HAVE THE LICENSE TO GIVE OUT ADVICE. DO YOUR OWN RESEARCH.