Rick, my only tip (As i cant provide any advice) stay away from DTT if you're beginning, especially in these markets with lack in liquidity means Daytrading groups can play with price much easier. If you notice the recent runners once flagged by Daytrading groups none really lasted more than 10days+, basically its a signal of one final rally on the stock before it will be distributed.
If you're looking to be a trader, you've got a few options, but figure out your risk and timeframe.
For risk;
Specs: Risk is much larger, but rewards are much larger too. Your general Reward/Risk ratio will be significantly higher than say midcaps, at the same time charts will be choppier and more difficult to trade.
Small/Midcaps: These are ones I like, charts abide general Technical Rules, are exposed to manipulation from social media traders. Your Reward/Risk will be lower but you're paying for insurance. I find these better in weaker markets.
Large Caps: I dont have much experience in these so not my place to talk from ignorance.
Timeframe; you can go for pips, waves/rallies and breakouts. I prefer the latter means less time on screen, more flexibility to research and suites my lifestyle better.
Different styles of TA applies to different timeframes.
For procedure
1. Start by figuring out your style. Once again another tip is don't have 100 technical indicators on the chart. Keep it simple. Volume & Price is most important above all - every indicator you see is an output of volume and price, if you understand volume & price rest will make sense.
Me personally, volume, price, chart patter, MA's (which help identify trends and base, although some can do this with the naked eye).
Finding your style will take time.
2. Setup scans to suit your style. You can do this for free through tradingview, pro-real time or some brokers provide the service too. This will stop you from relying on social media, HC and DTT to find runners. Here is a link to some very simple ones I've coded
https://hotcopper.com.au/threads/recommended-stock-screeners.2299953/page-39?post_id=31901737More recently the price frame has been changed to 0.10 - 1.00 (more targeted on midcaps).
3. Setup a journal + Diary that will log every trade. Trial and error for one month, analyse and breakdown your losers and look for a thematic where you went wrong. Analyse your winners and look for a thematic that has worked. Use stops.
If you're looking to be a fundamentalist and pick multibaggers.
You have to be willing to lose a lot more, its not as black and white as trading. Lots of gut feel, subjectivity and often experience will teach you when you're onto something good. However life changing rewards can be found.
Read the STT knowledge library, there is no better source of information for specs than what you can see there (both fundamental and technicals too).
Find someone that you know has a track record of success that fits your fundamental time-frame, and emulate their style (perhaps modify a little to your needs). Me personally, I've learnt most fundamentals asking questions here (when I first began Sector often held my hand to teach me the basics like how to calculate market cap or what EBIT meant lol), I also looked at the STT comp leaderboards in the past to see who consistently dominated it statistically (without bs) it was always FF and Fibs...I've never seen tipsters better than them nor do I think we ever will, they were landing one multibagger a week for almost 52weeks straight in a good market. Unfortunately neither of them post here anymore so I literally went through all their tips to figure out how they did it and what catalysts pushed price.
Anton and Glad another two guys thats are excellent in my eyes and I carefully watch over how they pick fundamental multibaggers. TraderGT another old poster the only guy to land 10 straight stocks to make 25% in 4weeks. Once again none of these guys post on HC anymore which is a big loss, Anton does pop in occasionally.
You can learn alot from watching the guys that know how to pick and trying to get into their heads and figuring out how they see a gem. Then its upto you to research your backside off to find similar setups.
But there style also has to match yours, some other great stockpickers are willing to wait 1year+ for catalysts to come through and even sitting and adding while being 50% down...they have success that style but doesn't mean I will, nor do I have that much patience or risk appetite so find someone who's style suits your risk.
I like FA more for few reasons:
- I like putting clues together and researching, almost feels like a game of chess with me vs market.
- I like backing others and management teams with my money early.
- Edge in trading I forsee will become futile in 5-10years, it'll be run by AI and bots. So human edge will be tough to gain, which wont occur with qualitative analysis (fundamentals).
With that being said, TA is the safer route, less pain, less risk and better place to start tbh. (Although I did the reverse...and lost plenty to start with).
All the best mate, and this is all just my observations, I continue to learn myself too. Chin up, cause everyone's had it tough this last year, keep working and improving as all errors can be fixed, so when the next set of opportunities does present itself you're ready to swing hard at it.
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@Sector Nice call on zinc that breakout looks like a significant trend change, although strange sell off rn? Any reason? Base metals looking stronger all together. Copper, Gold turning upwards. Nice time to go through some players and shells in the space.
Metals and Mining index looks good making fresh highs. FMG has gone bezerk unbelievable looks like a crypto chart during peak bitcoin.
Milk has been doing well and I see no-one really speaking about it which makes me think there is more in the move. A2M has pushed today and BAL and BUB have made bigger pushes today.
JAT tried but dealing with lots of overhead supply. KTD still watching to see if it catches a decent bid.
Other than that given APT and SPT performance, payment sector worth a watch, few credit payment tech plays doing well. PIL, WZR had good rallies and OOK bagged just on the mention of payment tech acq.
Our major market looking ridiculously strong post Royal Commission, DOW aswell. Both will need to pullback here, and will need to keep an eye out on this pullback as a sign of a greater sentiment turnaround imo.
(20min delay)
