/ASX/

Just want to start an ASX general for us all.

Where to start? Is NABTrade the best service to be trading with? What are you looking at? What might fall? What might rise? General Australian economy chatter, etc, etc

I'm 19 and I've got $12k AUD saved up from since I started working casually at 14. I really want to buy a new car, and wouldn't mind a new PC setup; but I just can't bring myself to commit to any of those purchases. At the moment the money is just sitting in a bank account gathering like fuck all interest.

Surely I can make something out of like $6k of investments; some slow and steady, some risky? Or am I better off just keeping it in the bank account and focussing on furthering a skill that makes me highly employable, and trying to earn big that way? Or should it be a fine mix of them both?

Fuck living hours away Perth, which is already tens of hours away from anything relevant

I had 27k in stocks and have slowly cashed out in crypto. Still have 12k

Short term you're missing out on the bull markets to end all bull markets so you can get into equities on the brink of a global recession.

You'd do better to just buy LTC, BTC, XRP, ZEC, XMR and sit for 12 months.

I've got like $100 in BTC and $200 in ETH but I find I'd find it hard to throw a large chunk of cash into something so variable; especially seeing as I have a lot of reading to do about the different cryptos and their various advantages & disadvantages.

Can you elaborate a little on:
>Short term you're missing out on the bull markets to end all bull markets so you can get into equities on the brink of a global recession.

Do you mean that crypto is the bull market to end all bull markets, and that it should provide decent profits that can be put into equites when the global economy hits a brick wall?

Is crypto even going anywhere though? Couldn't blanket legislation pose a very large threat to pretty much every crypto? What makes LTC, XRP, etc, etc so likely to explode when no one can even make their mind up on BTC?

I get that it's in its infancy and betting on these things before they blow is how you make large margins, but is it really the best bet?

Also, what exchange is best for an Australian to get onto these underdog cryptos? Coinbase only offers BTC, ETH and LTC - I'm assuming I could switch those into other cryptos through a seperate exchange?

Also, when's a good time to buy into LTC, seems to be close to an all time high at the moment?

Dont really have a game plan at the moment. Thinking of just buying some more VTS. Rate? Im 21 working full time

Yeah once you're in BTC world you can trade it around.
Aus sites are huge rip offs - theres a reason why coinspot doesnt allow you to send ETH into it, because their buy/sell spread is a clear con.

I'm using bittrex.com for a few days and its nice.
I'm speculating with a few hundred into smaller cryptos, about a grand or two all up in ANS, XRP, ETH and some BTC.

I have a 30k margin loan and about 15k of ym own money in the ASX but its parked in some low risk high yielding shares (TLS, YMAX, HVST, WES, AAD) so I can run the negative gearing game, get some franking credits and the dividends will slowly pay down the capital.

VTS is a good choice as part of a portfolio, but i'd probably give some thought into other index funds to a more suitable asset allocation so that you don't get stung should the US Markets experience a downswing. Perhaps look at a few other Vanguard ETFs to get some allocation to Aust Equities, small caps, emerging markets, property and a small bit in bonds and fixed interest funds. Setting an asset allocation and using index funds might work for you since you're working full time and i'm assuming have little time to trade. All IMO

Yo, general heads up, if you want a geared investment, invest with MyNorth. There is a glitch in there system where you overdraw the cash account and retain your investments. And what you pay for overdrawing the account is pennies on the dollar. We had a client overdraw $20k, and he was getting charged $25 a month for that (approximately 1.5% interest rate).
>all you need to do is have an ETF fund with money in it
>set sell instructions to sell down ETF only
>withdraw more than your holdings in the ETF
>system glitches out
>doesn't even sell down your ETF

Tho OP doesn't really help for your situation, as MyNorth is a shit hole for stocks, but great for managed funds.

Fuck you Galaxy!

Somebody explain the share consolidation to me, why did it happen?
Nobody wants to pay 2.25 a share!

well this seems like the best thread to ask, so many others are shitfests.

transfered some btc using coinjar, 1hr later transaction is still unconfirmed. how long are transactions taking these days?

>I have a 30k margin loan and about 15k of ym own money in the ASX but its parked in some low risk high yielding shares (TLS, YMAX, HVST, WES, AAD) so I can run the negative gearing game, get some franking credits and the dividends will slowly pay down the capital.

This sounds like something I could do if I actually learned about any of this. However currently I don't understand a word of it.

What does it get you in the short term? What does it get you in the long term?

Just signing up with Kraken, seems like it's a pretty good exchange.

How much, percentage wise, of my $12k should I have in crypto? I was thinking maybe $2kish would be an okay amount ; so like just under 20%.

As with the ASX, and stocks in general I'm pretty clueless. Should I just dump a decent amount of money across those low risk, high yielding shares? Also, what do you mean by negative gearing - the dividends will start to pay off your the capital costs or interest on loan?
Fuck me dead, I have a lot to learn just reading this. No wonder people slave away and just store their money in super; I have a lot of Googling to do.
What's a geared investment? Giving money to a big company which collects money and gives it out to different businesses, like a private bank sore of thing?

listen to I was active in the old ASX threads around start of the year up til march before i realised how much i was missing out on crypto- theres a reason why this entire board is crazy for it
with a little research and a decent stack you can make a lot of money, i started with 6k which i cashed out from shares(realised absolute best case id only be getting 30% ROI annual anyway) and am up to 38k in 3 months
Legislation could pose a threat but it would be virtually impossible to enforce, and is unlikely to begin with
I buy BTC or ETH on btcmarkets.net( ive looked around, fellow perthfag, this is the best point of sale for australia, still inflated but better than the rest)
then transfer to bittrex or poloniex and buy alts there
And money isnt made on the bigger cryptos like BTC, ETH, LTC etc although they are safe bets for long term growth(maybe not LTC thatll tank once btc problems are resolved in August), just pay attention to biz, read everything you can on reddit and crypto slacks and
just start putting some money in
start with what youre comfortable with and then move to bigger amounts
I bought 2k of Antshares last night and woke up to 4k of Antshares, the entire market will continue to be bullish for the forseeable future dont miss out by wasting your time with stocks, we are living in the crypto golden age id encourage everyone to take advantage

Sometimes reverse splits are a psychological thing - investors might be more likely to invest in a stock if the price is higher (>$1 is the big mental barrier imo). Other explanation could be they're trying to reduce the liquidity of the stock to help limit shorting. Third point would be that some fund managers have internal rules in place governing the lowest price for stocks they are allowed to invest in (once again the $1 figure could be important here)

A geared investment is borrowing money to invest. I.e. using my system, you could use the 12k invest in MyNorth, withdraw 12k back whilst retaining your investments, and then invest that in Crypto's. Banks usually charge 10-12% for that.

If you are looking for managed funds, I would recommend Plato share income fund, its an Australian share fund that picks dividend paying stocks specifically. It has average 7.5% income over the last 3 years.

Also fyi, if I was in your situation I'd go with 4k in Crypto. Put in 1k now, and have 3k in cash to move in after August 1. With the other 8k, invest in managed funds. Probably an index fund unless you are aiming for something specific.

fucking hell i havent seen an asx general in a few months at least

what were the /asx/ memes? i remember galaxy and some australian based company that had a bunch of mining projects in utah (or colorado, cant remember)

remember when half of asx general went in on MLS and it absolutely tanked from 0.016 to 0.005
good times

Please dont remind me, Im still holding :(

Im hoping after eofy it will go back up

Okay, you've convinced me. Suppose you have $2k you're willing to risk for some decent margins, and maybe another $2k you'd want some safe growth in; how would you advise it be allocated into the various cryptos on the market now?

Also, where's the best place to get a sort of simple advantages/disadvantages of all the alts? Or is it just a matter of Googling the fuck around?

Also, where the fuck does a 19 year old find work around Perth while at Uni? I'm 6210 and there's fuck all here, considering moving closer to Perth but I'm not sure if I'll be able to juggle the amount of hours I'd need to support rent/utilities/food and all that and maintain a pass at Uni. Should I just stay at home and 'work' the 3 hours a week this fucking grocery place is giving me?
Ah thanks for clearing that all up. What's so interesting about August 1st, is that when this 'big decision' in BTC is going down that I've been hearing about? How do I go about moving my money into a managed fund, and how safe/what are they doing with my money?

And where do you suggest I put my $1k now crypto wise, like roughly how should I split it between alts/BTC?

I feel like this all is a much wiser way to be using my $12k than a new car, but I do fucking need a new car.
I'm not a Veeky Forums frequent (quite obviously), just remembering seeing one ages ago when I browsed around and I got some decent advice on how to deal with my money. And seems to be pulling through again

Thanks lads, truly love you all, literally haven't heard a word about half this shit - parents are loaded with debt and retarded with their finance so I'm trying to not be that

sell it all and put in into crypto mate i cut my losses at 0.008 and put it into eth in april best decision i ever made tripled it back in 3 weeks and its worth about 7x now
just look at it as a nice tax deduction if it helps you cope all you are doing is missing gainz

>Should I just stay at home and 'work' the 3 hours a week this fucking grocery place is giving me?

Invest time and enough money into cryptos and you'll be making a few hundred per day

Really tempted to.
I've managed to cover my losses from mls with crypto over the past month, so I probably wont kill myself just yet.
If I can get out at 0.006 i will (bought at 0.012) but right now theres only buyers for 0.004.

I have another stock thats down quite a bit, but I dont have as much invested in it. Should I cash out for the tax deductions?

Also, this is my first year investing, I fucked up pretty badly, so I dont want to go to an accountant as he will probably laugh at me.
How easy is it to do cgt and capital losses on my own?

Ahhh mandy rep hey what a place that is
not too sure about work im a trade so i've never really had to worry about part time, although i wouldnt be moving to Perth until i had something locked in personally
Hmm maybe 1k Antshares(China conference later this week will pump get on it tonight though its goin bang as i type this,) and 1k Stratis( new wallet and masternodes this week should see a nice increase) for the slightly riskier ones and cant go past good old ETH for the safe growth, although ETH is almost certainly in a bubble and will eventually pop maybe switch over to bitcoin after August 1st once all the segwit shit is resolved
Please dont take my word for these though, i encourage you to read the whitepapers, join the slacks, talk to the devs, read the subreddits, read the Veeky Forums threads etc and make a decision for yourself, this also applies for advatantages/disadvantages no one will spell it out for you and there will never be a clear decision from one side or the other its up to you to decide who is right, people will shit on every coin there is but as long as you can discern what their motives are and whether they seem to be intelligent you can usually stay ahead of the curve by following the smart money

You're young, you can afford to take some risk.

Allocate your portfolio like so:

0.5 VTS
0.1 VEU
0.1 DJRE
0.15 Bitcoin
0.15 Ethereum

Tons of diversification plus your risky crypto profit makers. Every time you get a pay, just top up which ever asset is lowest

Don't buy the $12k car, move close to uni and walk or ride. Buy it after you make mad profits

pretty easy there's plenty of guides and that on the internet, as long as your capital gains aren't in the 10s of thousands then you're a small fish anyway so you'd be pretty unlucky to get audited

Ayy Mandurah lad. Mind if i ask what and where you're studying?

I managed to score work in the CBD working an entry level finance job and juggled 25-30 hours a week with a 3 unit load. The closer you can move to your uni the better, you'll be traveling 2.5 hours a day if you're trying to get to Curtin or UWA from Mandurah. There's not really many places hiring though so work could be a struggle

>What's so interesting about August 1st, is that when this 'big decision' in BTC is going down that I've been hearing about?
Yep, pretty much. Good chance the markets are gonna either tank, or there will be big growth across the board. I recommend the 1k/3k cause missing out on 50% growth is no where near as crippling as 50% loss.

>How do I go about moving my money into a managed fund, and how safe/what are they doing with my money?
You can go directly, but they may not allow you with only 8k. Some have minimum deposits of 20k to 50k. Or you can use a platform, like MyNorth or BT funds. The advantage with these no minimum, but you pay extra fees.

>And where do you suggest I put my $1k now crypto wise, like roughly how should I split it between alts/BTC?
I'm not a big shiller of coins. I just look for interest ideas that could get support in the mainstream. Like
>Sia allows you to rent out spare space on your HDD in exchange for coins
>BAT pays you at looking at ads
>RDD coin is trying to allow you to pay content creators directly rather than through advertising
>Golem allows people to rent out their computers processing power
>Monero & 6 other coins are about making transactions anonymous (good for gains due to heavy use of black market sales)
>ETH, Stratis, and Lisk are looking at moving businesses to the blockchain depending on their coding.
>Voxels is doing something with VR (dunno, sick gains today tho)
>etc.

Basically just read what they are doing, think about the likely hood of it being accepted by the mainstream.

Actually, I will shill BitBean tho, its atleast $50 to participate in the memes, tho I haven't got around to it yet

Anyone here looked into xby?
They're making some big claims

i just refuse to invest in a coin whos lead dev genuinely believes his dead mothers spirit is guiding him through life

That's not the dev, thats the marketing guy, he isnt doing a great job to be honest

Born and raised, certainly is a place

I definitely have a lot of reading to do, exams are nearly over so I think I have a little hobby to get me through the break.
Cheers, I'll have a good look into that split. And yeah, I've never felt comfortable spending even above $8k on a car when all my savings amount to $12k. I really don't give a fuck what I drive and use the train/bus as much as I can afford so it seems like a complete waste.
I'm studying Data Science at Curtin, by the looks of things companies are head hunting qualified 'Data Scientists' because of their specific skillset - and it's the first time the degrees ever been run in like most of Australia I think. Not to mention all the Mathematics, Statistics and even the Programming now interests the fuck out of me; would love to build some predictive modelling around cryptos over the break.

And yeah takes me 2.5h of travelling (there and back) so I try to get all my classes on one or two days and then watch all the lectures online. It's not the best but I make it work.

I'm only getting 3h a week work (stacking shelves) just because the shop I'm working at seems to be slowly dying and because I'm 19 I cost a lot more to employee compared to a 14 year old - desperately need a new job but it's dire down here.

Really think I could find some sort of work with the knowledge I have to program in Python and a decent grasp on pretty high level calculus and some decent statistical modelling - maybe need another years worth of shit before I actually know how to utilise some of the more complicated predictive methods though.
Alright, I'll get to reading and probably be dropping some hefty dollars into it all soon enough. Thanks for all your advice, you're truly a top lad

Awesome, Finance major from Curtin here, i'd read through course handbook for that course and that would be my first choice if i were to start again at uni. Sounds like you definitely have an employable skillset so hopefully you catch a break somewhere along the line and get your foot in the door

Also if you were unsure on electives you might wanna do and wanted to learn more in the business and finance space, Intro to Derivative Securities or Portfolio Management might be an interesting choice (both are 3rd year finance units). Best of luck

One step ahead of you, doing an Intro to Finance unit next semester as my elective. But I'll definitely have a look at those two units and maybe work my way through the prerequisites with all my electives.

My idea is to keep slumming it out for my first year and use my skills to do something useful, or at least something that looks good on a resume in the 2017 - 18 break. And then come second year if all goes to plan I'll start handing resumes around for some sort of analytics part-time gig; if it even exists within Perth

stop shorters allegedly. lol still getting spanked

im going to shill this stock- EOS

they are pending a $150 mil plus weapons deal announcement with saudis very soon and their space debris tracking program is getting online in next two years. this company is massively undervalued st moment and there will be some great action soon. pick up antghing you can under $3

Going to bed now lads, big thanks to everyone who came in and pitched their advice; definitely doesn't go unappreciated