Damien. I'm also a recent accounting grad (last year) and started investing in feb this year. I'm only 22 and have put every cent I have + a loan into the market. Initially I had 0 clue to what I was doing, and lost a few $, I then started trading with trends and started to make a great deal of cash (and losses). I learnt not to get emotional about losses and make plans for trading. I.e stop losses, and never get greedy. Getting greedy often turned into losses or small profits.
I had a major in finance and accounting in Uni, and guess what: IT WAS USELESS! Paper trading was also useless as it takes balls to actually press "BUY - CONFIRM". Trading myself and learning from my mistakes was the best thing I have ever done, and taught me lots. I had around 30 trades in my first 4 months of trading (ranging from 2 to 20k per trade).
I also hold the dream to retire in a couple of years, and retire. I would much rather trade than make my boss rich and work hard (which i currently do + doing a CA). However I have stopped my day trading, took a loan out and invested alot into a couple of stocks, specs and near production stocks.
Assuming one or two of these stocks do well I should have grounds for retirement and become a trader.
Thats why being young is great! I have risked lots, if I lose it I will be upset, but there is always time to get more. Having a early retirement is very real with trading. I know several people who retired before 30 and have significan wealth. So do your research and prepare to risk 20,000 +. IMO if you strive for riches at a young age ASX 100s are a waste of time.
Open to thoughts :P
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Last
$63.84 |
Change
0.070(0.11%) |
Mkt cap ! $12.37B |
Open | High | Low | Value | Volume |
$64.41 | $64.52 | $63.59 | $17.98M | 281.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 1141 | $63.70 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$63.84 | 905 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1000 | 63.700 |
2 | 259 | 63.500 |
1 | 4000 | 63.410 |
1 | 500 | 63.350 |
1 | 78 | 63.210 |
Price($) | Vol. | No. |
---|---|---|
64.200 | 64 | 1 |
64.500 | 399 | 1 |
64.520 | 604 | 1 |
64.620 | 600 | 1 |
64.800 | 390 | 1 |
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