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
$64.00 |
Change
0.550(0.87%) |
Mkt cap ! $12.40B |
Open | High | Low | Value | Volume |
$63.91 | $64.90 | $63.57 | $27.94M | 434.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 922 | $63.94 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$64.40 | 1185 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 922 | 63.940 |
1 | 350 | 63.750 |
1 | 8610 | 63.670 |
3 | 216 | 63.500 |
3 | 68 | 63.450 |
Price($) | Vol. | No. |
---|---|---|
64.400 | 1185 | 1 |
64.500 | 922 | 1 |
64.550 | 146 | 1 |
64.560 | 922 | 1 |
64.610 | 1172 | 2 |
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