Forum Topics Share Trading Tools
conwaydean
2 weeks ago

Thanks to all for your responses! Appreciate the advice and guidance. 

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conwaydean
2 weeks ago

Hi All, 

New to the stock investing scene and keen to know what tools private investors are currently using? Luke Winchester, on the Australian Investors podcast, recently said that one can get 80% of the information from the generic reports supplied the trading platforms but it was the 20% that was high value for which stocks to invest in. And this 20% information can be sourced from many different places. 

I'm keen to get recommendations on any tools you are using? 

Are there any tools you might have bought that you would never use again? 

Thanks for any help! 

 

 

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Stevo83
2 weeks ago

My advice is to steer clear of any paid platform, especially when you are newer to investing. A few ideas: - Twitter: As Luke mentioned on the podcast, twitter is a great place to see people sharing ideas, and getting those ideas critiqued by others - it's key to focus on who you follow to make sure their investment style/methodology makes sense to you. - Another good idea is seeking out monthly/quarterly reports from good fund managers which you can find for free on their website (some more well known include Wilson Asset Management / Magellan Financial). - Podcasts can be a great source of learning and idea generation (a few I enjoy include The Rules of Investing / The Australian Investors Podcast / Trawling for Ten Baggers). Soon enough you'll find fund managers / investors that resonate with your way of thinking. Hope that helps and isn't too overwhelming. All the best with your investment journey

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Tom73
2 weeks ago

Hi conwaydean, All the best on your investing journey. I take it from your question that you are looking for the 20% of information that will give you a market beating performance. For me the only real way to do that is tools you build yourself and through the consolidation of generic tool information to form your own unique view. So taking ASX announcement information (financial reports, shareholder info, market updates) and deriving your own conclusions on the companies outlook and comparing to others opinions that you respect to fine tune expectations and test over time. I know this isn't the answer you are after, but I take a dim view on marketed tools that offer market beating performance with any reliability. If you can build an algorithm to beat the market then why would you sell it and ultimately any edge that can be formulated gets competed away in time. I am an optimistic investor, but pessimistic about formulaic paths to investing success. Investing is a journey - one that changes as you go along, you are your best tool and sharpening it with practice, education and curiosity is the 20% market beating edge you are after. All the best, I hope someone else can give you some useful tool suggestions which is what your after, but use with caution.

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ninfy
2 weeks ago

I will tell you something from the left field. This is a tool not to research stocks, but to track your portfolio. I started using Sharesight earlier this year, and found the difference it made to my investing style. It allows me to track the performance of my stocks and run a number of reports to align my allocation, plan for tax optimisation, make filing easier etc. I could track cash accounts, see dividend revenue coming in, and much more. It also let me see true profits when investing in overseas market, due to the currency impacts. Would suggest to sign up to this as an essential tool when you start investing. Its free for up to 10 stocks, and have various plans after that. https://portfolio.sharesight.com/refer/MHL91

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Strawman
2 weeks ago

I like Sharesight too @ninfy If you sign up from Strawman's referral page you get 4 months free. https://strawman.com/blog/manage-your-portfolio-in-style-with-sharesight/

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Mooms
2 weeks ago

Hey Conwaydean, Tom's definition seems right in that you're trying to find unique data points or information that correlates with a business's performance that aren't in the financial reports. As a tool, some investors on this platform have used Google trends I've noticed. I think that 20% is where the investor's creativity comes in and everyone's unique. I honestly think the best thing for qualitative data and research ideas is to watch my partner's spending habits to know if they'll have a bumper 6 months. For example, Nick Scali + Temple & Webster + Adairs during Covid. Keen to see what the rest of the community says at it's an interesting question. Good luck!

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