ASX Trader. Charting enthusiast. Position/Trend/Breakouts. No financial advice given please DYOR as at least 50% of what I bought has been losing trades
Good companies usually have good looking charts
Be it a growth co, a new discovery, a turn around story, or within sector rerates
So if we filter/scour for good looking charts we have already filtered out most of the garbage out there
Saves time and increases success rate 👌
1) Ok will only post this once. They say your first $mil is the hardest and I hope that's true because yesterday marked a significant milestone for me as I reached my first $mil in net profits
$985k + $32k in another Acc
Here is my story
7 years ago I lost 77% of my capital and almost given up trading
I would need 335% return just to break even
But today I returned 15,000% or 150x
I don’t feel any smarter but maybe a bit more experience in riding the waves of money flowing into and out of the markets
Finally after 14 mth reached my next doubling from $2 mil to $4 mil. It was only 3 weeks ago I was over 50% cash and said fuck this market😂
I'm not the sharpest tool out there so just sticking to my small area of competence and limited time available to dedicate to the market
Here it is - my second $1.1mil+ ($2.09mil + $53K another acc) in just over 3 months or ~130% of portfolio gain or 400%+ since pre-covid high and 600%+ since June2020
Shown are my top gainers inc some open positions like WBT CRO AVZ ZEO
How to pick a market bottom:
When u feel maximum pain buy up
Then next day if it's still going down u buy more
Then next day it's still going down so u start to doubt yourself
Then next day it's still spiralling so u panic & dump everything
THAT, my friend , is the bottom!😂
11) Every 100% gain from here will be life changing - like nothing I ever dreamed of achieving in my pitiful life. The feeling is like I have been on a long bumpy dirt road, and are just now reached a highway turnoff where (hopefully) the ride is a bit smoother and faster
Here it is - my second $1.1mil+ ($2.09mil + $53K another acc) in just over 3 months or ~130% of portfolio gain or 400%+ since pre-covid high and 600%+ since June2020
Shown are my top gainers inc some open positions like WBT CRO AVZ ZEO
1) Ok will only post this once. They say your first $mil is the hardest and I hope that's true because yesterday marked a significant milestone for me as I reached my first $mil in net profits
$985k + $32k in another Acc
Here is my story
Here's my actual PnL for 2021FY + ~$50k in another acc
1591 winning trades/1819 losing trades = 46.7% win rate but win size is ~2:1
Not much dedication was given to trading the last few months due to increased work load which resulted in many sloppy trades
Today marks the 10th year since I bought my first shares
A seed which I planted 10 years ago is now starting to provide some shades for my family
If you are still young plant your seeds early & u will have your younger self to thank 4 later
Don’t waste half a life like I did
When I drove across from Melbourne to Sydney there is so much vacant land as far as the eyes can see the entire trip
So how did Australia getting itself into such a housing crisis where families with little children’s have nowhere to live?
A 300m2 block of land at Sydney’s
I was doing well in 2023 until July when I was caught in the $LLL suspension that turned $400k+ profit in that stock into $100k loss, wiping out all of 2023 profits
I owned the trade so I'm not looking for sympathy or anyone to blame. This is the game we play and the risks we
1/4 Here are my results for FY2023. Realised profits at $946k. I've been extremely busy with work this year so minimal SM presence and dedication to the markets. Missed quite a few runners. On average only held 3-5 stocks in Cy2023 instead of the usual 12-20.
How tax loss selling works:
I hold a stock that is in profit so I don't want to sell otherwise a profit is booked
But some malaka is in the red and wants to realise his loss. When a few malaka sells it turns my profit into a loss
I then join the malakas by start selling too😂
1/3 Here are my CY2022 stats:
48% portfolio return or $924k against benchmark
#XEC
-23%. Actual is around $890k when loss from my long term acc is added
Shown are my top 10 winners. $AGY actual win is $76k as options ex price needs to be taken out
You know the market is fcuked when:
Shit you bought went down
Shit you hold went down
Shit you sold went down
Shit you're watching went down
Shit you want to go down went down 🤣
When I was younger I begged the banks for a loan - they didn’t want to know me
As I’m older I want to live debt free - now they beg me to take on debt
Isn’t that funny?
Here is my FY22 realised gains. A bit less once another acc is added in. About 30% is from unrealised FY21 gains so actual is circa $700k. For context my av acc size is $1.6-$2mil (cash+holdings)
Weird that much of the gains are put on 2nd half when market is in downtrend
My 12yo daughter is finishing yr6 and she is worried as she still does't know what she wanted to be when she grows up
I told her not to worry as daddy's got your back
If you failed at everything then the worst you can be is to become a stock trader like daddy
Sound advice?😂
9) So if I can do it anyone can do it. If there is one pre-requisite I see, it is that you have to like it - nothing else. Everything else is learned along the way
Don't let anyone else fool you into thinking that you have to be gifted or knowledgeable in any way
Every time I tell my wife that I lost money in the stock market, her reaction is very simple and matter of fact:
"Well why didn't you sell when it was higher?"
🥸🥸🥸
10) Everything you need is all in your head. All you need is experience - the wins and the losses, the hopes and hopelessness, the frustration and the mistakes you make over and over and over again.
I'd like to think that this first mil is just the beginning for me.
So many ways to make money in the market
There are those who’s knowledge I can only dream of
But the good news is we don’t have to know a lot - we just have to find a small area that we are competent in and work on it to try and turn a profit
Don’t let anyone intimidate you
I went to an old friend's funeral this morning. He passed away aged 83
We've had many great adventures together traversing the Territory coast since I was young
An absolute True Blue Aussie who's been with us through thick and thin - unjudgemental and humble in every way 😢
5) So this $1mil isn't quite life changing and is likely just chomp change for the many guns here
But the significance for me is this:
> In 4 years I turned $34k into $1.1mil (add $100k capital) - that's a 33x portfolio increase or average of 140% CAGR.
> Not a 1 stock wonder
$LUNA When you bought something that was 99.9% down thinking it must be a bargain, went to make a coffee, came back and lost 90% of your capital!
Only in
#Crypto
😂
6)
> On an average entry I have never held a 10 bagger on any stock so far
> I have never liaise with anyone or group with the intention of pumping any stock
> I don't have privileged friends in high places
> I never had any privileged info on any stock I held so far
Fkn stoked! Got allocated my Corvette C8 today slated for Jun2023 delivery - not 4 year wait!
Each GMSV dealer got allocated 1 car & me living in the middle of nowhere means I got the allocation😂
Seen people trying to flog them off for $300k on Carsales so can't lose!
How to be Twitter guru tip 2:
Make lots and lots of calls
Retweet the ones that eventually go up
Of the thousands of followers a few will inevitably thank you for the stock that went up
Retweet that and say “you’re welcome”👍
8) I was a pizza boy, a farmer, a taxi driver, a fisho. Very low self esteem and poor social skills. A procrastinator with lack of determination. Flat broke until I got married 14 yrs ago - had to borrow money from my brother to get married ffs.
I think the market has bottomed and will bounce next week
But it could go sideways if investors are still uncertain
It could also go down further if more jittery about Omicron and inflation haunts investors
I will now apply for a job at JP Morgan
Tax loss selling is over. Call me stupid but it's starting to feel like the storm is over for now - all the bad news are well known
A sideway market is still ok so long as we get lower volatility it should be perfect for specs
Time to look for some good setups
This week marks 11 years since I started the market with 0 knowledge
Managed to work out what WTF LOL ROFL SOI CR MC NPAT is
Still struggling with IRR NPV DCF
It's why I prefer charts because I know straight away when my holding s fucked without needing to know the reason😂
7)
> All the tools I used are publicly accessible to EVERYBODY
> Non of the $985k profits were made from cr as a soph (only recently obtained my s708)
There is nothing special about me. A failure in every way in life. I lived thru war and famine. Didn't make it thru Uni
I've done Taxi driving and truck driving for years when I was younger that took the joy out of driving
This beast just brought back the joy of driving again🥲
Remember to vote NO tomorrow and keep Australia unified 🙏
The elites who are mostly white as snow flakes calling themselves Aboriginal are the ones rorting the system that is meant to help our disadvantaged Indigenous friends
To change the Constitution will be a dangerous
I started 2023 with a smaller portfolio of $1.56mil compared to 2022 of $1.89mil thanks to the ATO
Don’t know what 2023 will bring but taking each day at a time
Consciously trying to have smaller losses and giving back less profits on bigger winners so see what the year brings
What's worse than being in cash when the market is running hot?
It's being in stocks that does fuck all or going backwards while the rest of the market is running! 😂🤗
Early last year when the market gave me enough I made sure I settled all my debts - which would have taken another 15-20 years any other way
It’s hard enough making money in a bull market so giving everything back in a bear market really frightens me
If u want to improve your TA skills there’s nothing better than to just flick thru charts day in day out, while u eat while u shit
The human brain is good at recognising patterns , so with enough exposure eventually the good trades will just jump at u when looking at charts
So lithium is at a price now that will make many projects uneconomical - which will put a squeeze on future supplies
The cycle will turn sometime - just don't blow your money before it turns
So I drained half my swimming pool water out during the wettest week of all and forgot about the laws of physics! It popped!!
Will need to find a 1 bagger this week to fund the repairs 😭
In a decent market correction you can easily shave 50% off your portfolio value which will require a 100% gain just to break even
I have a max 20% draw down rule where everything gets dumped no questions asked
I lost 9% this week after moving to 80% cash
Zero anxiety
"Play the stock market" they said
"You can get rich just by watching the screen" they said
" She'll be right" they said
Meanwhile the fine print says you can lose more than a year's wages every day😭
What if we’re in the circled area of this market cycle?
I mean everything seemed so fucked nowadays that it is the prefect condition for a new bull market to be born
Bet you never thought of that aye!
If ur going to panic sell Mon the first 15mins is probably the worst time to do it as those who held off their panic on Fri will panic Mon morning
US markets had 6 down days - even the covid crash snapped back up after 6 days so the odds the US will be green Monday is high
IMO
From my experience and from what I’ve heard:
If you have a passion for the market, like anything else it usually takes about 5 years to bed down the basics
Took me 5 years to break even, now 12 years in & I still don’t have the confidence that I have an edge or the market will
If you're starting off with a modest account don't be dismayed - it's better to blow up a $10k account than a $1mil account
The lessons are the same but a lot cheaper on a small account
Alright the Referendum is done and dusted, time to get back to our daily lives
Australia is a great compassionate Country. A land of opportunities
Those who wants to get ahead in life can do so by working hard
Those who can't work there are enough safety net so that they don't
After 6 winning years 2023 is my first losing year, ended up with about $40k down or around 2.5%. It feels bad because the drop from the peak was much greater. I got caught in 1 suspension that wiped out all of 2023 profits.
The spec end was pretty horrendous in the 2nd half of
Now that everyone is selling in May and go away the smart money must have sold in April and went away
So next year I’m going to sell in March and go away😑
The thing about the market is everyone is trying to sound smart but no one have a fucken clue where it’s heading
Those who realises this are better equipped to deal with it IMO