ASX newbie

This was contributed by “PLAT”a very popular trader who is also one of the main contributors to “Topstocks.”

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WELCOME

Morning T$
We all can learn something new every day ,my rant today is about just that.
In bearish markets as we are now in it`e easy to tag along with the herd and think all over Rover.

But there is another approach ,any one will agree that sometime it will change ,in fairness T$ has been looking at that time scale through various posters.[on different threads.]
OK still with me ,good

Now we are looking at newbies in this post ,most will be strapped for cash and thinking another avenue of making a dollar closed down ,busy just trying to salvage some back.

That’s when logic steps in .

If you have been chasing your tail trading trying to pick a winner in this market chances are your worth in $ in the market has gone South.

Therefore look at it a different way get positive research in earnest look for just one stock that has future growth written all over it.
One that has been marked down for no the reason other than the general market sentiment right now.

Make sure as best you can try for a $4K holding and lock in do not trade and try for 50% gain then go for another.

Most that read this in the newbie status will not have $ coming out of their ears ,therefore you need to change the equation around.

Whilst the doom and gloom surrounds you in general ,take a positive view on the future .
Now is the time to understand corrections and profit from them.

Your aim should be to build up a Balanced diversified portfolio .
Draw up one that says you wish ,look at it for a few weeks alter it until it looks the bee`s knees.

Then go and do it over 5 years or so.
Once you are working to a plan that turns you on ,you will find enthusiasm and little time to be concerned about Bear or Bull markets.

You will discover that opportunity exist`s to the ones who seek knowledge and are prepared to work at it.
Sometimes first of you fail ,that`s OK its a learning curve ,reason out why it never fell into place and go again.

However PLAT fancies your first up selection will be good spot on because their are many that post on T$ with good selections.

Take care and start to think and act in a positive way.
Forget trading until you have $ 20 K in the bank from your efforts.

You must have a flutter you say OK do just that but stay with the plan and keep looking at the big picture.
That did not hurt did it .

Cheers
PLAT