ASX Sharemarket Game - Give me some tips!

[son of baglimit]

upon checking this morning, and yes still not making changes to the portfolio, i am now 11 from the bottom nationally - a truly amazing feat given i bought a mining services portfolio and left them there to see what happens.

and another day of steep losses - can i make it to no. 1 - at the wrong end ?

 

[highonoctane]

Yeah I did something similar.

I was sitting in the top 350 nationally for a few weeks and a good 14-15% up but then bought into FMG and OZL when I thought they had bottomed only to loose 20% off each. I then sold, they dropped some more (surely the bottom now?!?!) and bought in again only to loose another 10%

So, I'm about down about 15% now...

I may as well hang onto them now and hope the bounce a bit.

 

[Trader Paul]

Hi folks,

Still going okay in the ASX game - currently, 3rd in WA and 43rd nationally ...

have a great day

paul



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Top 10
Ranking Player name Portfolio value
1 weggy34 $53,876.64
2 SinCity13 $53,671.02
3 Trader Paul $53,509.60
4 Carpets $53,318.17
5 JennyZhou $53,089.99
6 Ant Moir $51,738.90
7 stjohnofgod $51,636.43
8 Jung How Yau $51,411.08
9 Priscilla $51,329.98
10 bull67 $51,329.59

 

[son of baglimit]

upon checking early today i found myself 1 from last in victoria, and 5 from last nationally - and i again say a truly remarkable feat - i have not traded my way to the bottom, i have simply watched a portfolio of mining services companies go from the top 1% NATIONALLY in the 1st few weeks to the position i have now - thats how much this sector has crashed.
and i feel it isnt warranted - there was an over-demand for their services, but now it is simply busy. great sector to grow a base from.

 

[Trader Paul]

Hi folks,

..... took profits on GFF a little early, but still holding BHP and FMG,
ahead of some positive time cycles, next week .....

have a great weekend

paul



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[son of baglimit]

yes folks - i achieved the impossible - i am LAST.
with only 1 day to go, lets see if i can hold this title.
again, i have not traded my way to last - just held onto a sector that has been overwhelmingly punished thru a limited association with commodity prices.

i wonder if theres a prize ?

 

[son of baglimit]

no prize - finished 5th last after some recovery in my stocks on the final day - which begs the question - were others trying to run last, or did they manage to trade their way to that inglorious position.

i must say since the game finished (until today) that mining services sector continued to be slammed.

i must create a portfolio of them going forward - for real - surely they wont fall any further - surely !!!!!!!!!1

 

[alphaman]

Before the game started I thought it was pretty stupid to not allow shorting in a bear market. ASX was in effect encourage people to fight the market.

So I completed one trade within the 1st week just to get ranked, then I left the account alone. Ended up in national top 300, just by doing nothing.

 

[waiter]

Just found this site, looks like the are expert players here to advise the novices (thank God for that as I know little about sharetrading, no charts, systems etc).Am open to suggestions from all you experts as to which securities to invest in, particularly "Fortescue". Please advise how its been travelling and if its too late to put a few hundred grand into it still.

 

[Dezza]

Just found this site, looks like the are expert players here to advise the novices (thank God for that as I know little about sharetrading, no charts, systems etc).Am open to suggestions from all you experts as to which securities to invest in, particularly "Fortescue". Please advise how its been travelling and if its too late to put a few hundred grand into it still.

This thread is just about the ASX game Waiter, which is due for another start in 2009 this month.

If you want more info on FMG specifically, be sure to check out the FMG thread here. However, I highly doubt people will advise you to invest or not in it as it's against the rules here. You'll have to make that call yourself after reading all the info you need. If you want advice on timing, be sure to call your licensed broker.

 

[RodH]

anyone in this round?

 

[son of baglimit]

yeah having a go again - going OIL this time - WPL, STO, AWE, and throwing in WOR as they are the only oil services crowd listed in it.

gonna be a rocky road for a while.

 

[Largesse]

alright, i'm in as of today.
not a bad to for entry really, we'll see how i go

 

[Sith1s]

I'm in also (same name as this)

Early days i know but 27th in Vic.

 

[Santoro]

Registered today but it says I am unable to trade, hopefully this will change by tomorrow. (Same name)

 

[So_Cynical]

WOOT :casanova:

Ive started well

• Your ranking (at close 24/02)
• National ranking: 473 of 9898
• State ranking: 168 of 3562

 

[beamstas]

WOOT :casanova:

Ive started well

• Your ranking (at close 24/02)
• National ranking: 473 of 9898
• State ranking: 168 of 3562

Doing better than me
I loaded up on FMG, NCM and RIO. using 10% of capital per trade and risking 1% of capital per trade.

Lost 6% of capital on around 13 trades LOL.

Miners...

 

[So_Cynical]

Doing better than me
I loaded up on FMG, NCM and RIO. using 10% of capital per trade and risking 1% of capital per trade.

Lost 6% of capital on around 13 trades LOL.

Miners...

I only look to hold 6 stocks in this game...about 8K in each

have 3 buys still open and hold the following

• ENE @ 1.68
• AMC @ 4.21
• SUN @ 4.70

i work during the day so cant really trade like crazy.

 

[fapturbo]

RMD around the $5.50 - $6.00

Stop Loss around the $4.50 region

Shares to buy = Risk Per Trade / Stop Loss

For Example.

Risk 2% per Trade = $1,000 per trade if using $50,000 account

$1 Stop Loss means buy 1,000 Shares

 

[So_Cynical]

WOOT :casanova:

Ive started well

• Your ranking (at close 24/02)
• National ranking: 473 of 9898
• State ranking: 168 of 3562

And it just gets better...thought i better post it up, as that's prob as
good as it gets...TOP 200 Nationally. :cowboy: