8,577 reputation
21042
bio website
location Sydney, Australia
age
visits member for 3 years
seen 51 mins ago

I have a love for Personal Investing and believe that every individual should improve their educational levels in Personal Finance and Investing so they are better able to look after their own financial futures.


41m
comment How to know if buying a house is a good investment?
If you are putting down less than 20% deposit, won't you then have to pay LMI and thus pay more for the loan?
42m
revised How to know if buying a house is a good investment?
Fix typos
5h
comment How to know if buying a house is a good investment?
You know that it is a good idea to buy a certain investment if most people are telling you not to buy it. You know it is a bad idea to buy an investment if most are telling you to buy it. As Warren Buffett say - "Be greedy when others are scared and scared when others are greedy." Generally, a good time to buy property is when interest rates are high and demand for property is low, you can usually get some good bargains during these times.
10h
reviewed Approve US banks that allow foreign account holders to perform transfers online
10h
comment Vanguard limit order vs stop order in a buy scenerio
@Justin - yes that's pretty much correct. I look to buy rising stocks in a rising market, so the stop limit buy orders are perfect for me. I but my orders in after market close for the next day, so if the stock gaps open to high I prefer to give it a miss and look for something else the next day. It ads a level of protection to your trading. You need to be patient as there are always other opportunities even if you miss the current one.
22h
comment How to start day-trading? Any advice about software for beginner?
No problem, there is nothing wrong in taking up day trading, and one can be successful at it, but you do need to think about what you are getting in for and if it is right for you, what is required and the planning required to be successful. Don't listen to those that say it is just gambling, because buy and hold can also be gambling. If you don't have a plan for what you are doing, when it comes to investing, in my opinion it is gambling.
1d
answered Vanguard limit order vs stop order in a buy scenerio
1d
comment Is the Investopedia simulator an accurate representation of real stock trading?
Have you got a link for the simulator?
1d
answered How to start day-trading? Any advice about software for beginner?
1d
reviewed Approve I have more than $250,000 in a US Bank account… mistake?
1d
comment When to use a stop limit order over a stop order
@EkoostikMartin - the key is in my last sentence, I will repeat it hear for you - If you use stop orders in your investing/trading then it should be something you experiment with to get the best order types that suits your type of trading.
1d
comment Planning to invest in stock, age 16
@JohnFx - the length of time of holding an investment is not what makes it gambling, it is investing or trading without a plan that makes it gambling. If I bought a stock 10 years ago and my only plan was to sell it 10 years later (today) then I would be gambling. There is no guarantee the stock will be higher 10 years after I bought it, and there are many instances when it will be lower, especially if the 10 years later is during a market crash.
1d
reviewed Approve What are advantages & disadvantages of using a Peer-to-Peer lending site or network?
Jan
25
comment Claiming car as a business expense in the UK
Usually you would depreciate the purchase cost and then claim the running costs as an expense.
Jan
25
comment First convert owner occupied to rental, then sell — capital gain?
@JoeTaxpayer - yes we have Capital Works Deduction which is for the construction of the building and related works and Depreciating Assets for the different fittings like Air-Con etc. Any depreciation claimed whilst renting out the property generally reduces the Cost Base for CGT purposes. However, the exemption stands if you lived in the place first and then rent it out upto 6 years. We don't pay CGT nor can we claim depreciation or other expenses during the period we live in the place.
Jan
25
revised First convert owner occupied to rental, then sell — capital gain?
Additianal text for clarification.
Jan
24
revised First convert owner occupied to rental, then sell — capital gain?
Additional text for clarification
Jan
24
answered First convert owner occupied to rental, then sell — capital gain?
Jan
24
comment How to invest (trade, or speculate) in commodities?
If you are not in the USA you can trade CFDs on some commodities.
Jan
23
comment When to use a stop limit order over a stop order
@EkoostikMartin - there are times when a stop limit order may be preferable to use than a stop market order. My broker allows for a 3 point buffer from the last sale for market orders. So if trading a stock that does not gap very often I actually may get a better price with a stop limit order. Like I said, I end up achieving my stop price or better more than 95% of the time by avoiding very volatile stocks and using this method. If you use stop orders in your investing/trading then it should be something you experiment with to get the best order types that suits your type of trading.