FAR - FAR Limited

[Miner]

Far broken

 

[PZ99]

Condolences to holders. It's tempting to re-enter on the back of this duster, need to do more research on the likelihood of a CR prior to the SNE deal.

 

[Miner]

Condolences to holders. It's tempting to re-enter on the back of this duster, need to do more research on the likelihood of a CR prior to the SNE deal.

PZ 99
Your condolence is well received..
I have probably put another nail on my coffin and bought few more FAR at .082 . My tip has gone down any way but who knows? There are still 20 calendar days left for my tip in November ??

 

[Wyatt]

Bummer for holders on this oil punt. They sure got thru the drilling in quick time.
Good luck to those hanging on for the longer term prospects in FAR

 

[Ann]

I have probably put another nail on my coffin and bought few more FAR at .082 . My tip has gone down any way but who knows? There are still 20 calendar days left for my tip in November ??

You never know it may well head on up again if the POO rises as I feel it may. Nil desperandum Miner!

 

[Miner]

You never know it may well head on up again if the POO rises as I feel it may. Nil desperandum Miner!

Thanks, Ann for very inspiring advice. It is very encouraging too with a hope lady luck to smile on me and many others .

 

[Ann]

Thanks, Ann for very inspiring advice. It is very encouraging too with a hope lady luck to smile on me and many others .

The chart suggests around 60 was a good support Miner. It held on the last trading session. I don't think anything higher, at best, than 76 to 78 may be the last high POO ever sees. My normal disclaimer, I could be wrong.

 

[Miner]

The chart suggests around 60 was a good support, Miner. It held on the last trading session. I don't think anything higher, at best, than 76 to 78 may be the last high POO ever sees. My normal disclaimer, I could be wrong.

Thanks, Ann. If all ducks are going to be in a row, by mid next year there will be another drilling. I read the CEO's statement again for a maiden venture in the Gambia there has always been a risk.
Big Rock - any comments from you?

 

[Ann]

This chart will show new people to charting what is known as a "Falling Knife". This is a brilliant example. The saying that goes with a falling knife chart pattern is...."never try to catch a falling knife, it will cut your hand open".

If anyone is contemplating this stock, my best advice is..... perhaps there is better value elsewhere.

 

[Miner]

This chart will show new people to charting what is known as a "Falling Knife". This is a brilliant example. The saying that goes with a falling knife chart pattern is...."never try to catch a falling knife, it will cut your hand open".

If anyone is contemplating this stock, my best advice is..... perhaps there is better value elsewhere.

View attachment 90220

Thks Ann for a very good and direct message.
I will take it on board. Honestly I can read charts as required for my day job but have a little or no skill understanding falling knife etc.
But charts are science and probably I have been carried out by my conviction / emotion and comments from an investment specialist who reportedly put his skin on FAR at 11.5 cents and later 8.2 cents. But he was wrong at 11.5 cents so probably could be wrong again.
Let me go back to basic and watch market on Monday.
Many thks again.

 

[Ann]

Thks Ann for a very good and direct message.
I will take it on board. Honestly I can read charts as required for my day job but have a little or no skill understanding falling knife etc.
But charts are science and probably I have been carried out by my conviction / emotion and comments from an investment specialist who reportedly put his skin on FAR at 11.5 cents and later 8.2 cents. But he was wrong at 11.5 cents so probably could be wrong again.
Let me go back to basic and watch market on Monday.
Many thks again.

Miner, you said "charts are science". This is absolutely false. It is purely what is in the eye of the beholder. It is almost a dark art. There is an art if one focuses and works with charts for long enough. This is the problem when people who have a limited knowledge of charting try to simplify charts to a basic formula and impose it onto some sort of program. It is destined to fail and will never ever work.

 

[Miner]

Miner, you said "charts are science". This is absolutely false. It is purely what is in the eye of the beholder. It is almost a dark art. There is an art if one focuses and works with charts for long enough. This is the problem when people who have a limited knowledge of charting try to simplify charts to a basic formula and impose it onto some sort of program. It is destined to fail and will never ever work.

Hello Ann
I understand your comments, but as I said, my skill base is really limited on charting techniques. So do not take my comments as a qualified one but an uneducated one on this matter. Sorry.
This discussion, however, opens up an interesting topic if a chart is a science or dark art. Probably I will stretch beyond FAR topic.
Hopefully, chartists like Tech/A, So Cynical, SKC, Gregg, and others could make comments on FAR and its double knife chart interpretation.

 

[Ann]

Hello Ann
I understand your comments, but as I said, my skill base is really limited on charting techniques. So do not take my comments as a qualified one but an uneducated one on this matter. Sorry.
This discussion, however, opens up an interesting topic if a chart is a science or dark art. Probably I will stretch beyond FAR topic.
Hopefully, other chartists like Tech/A, So Cynical, SKC, Gregg, and others could make comments on FAR and its double knife chart interpretation.

Not double knife, it is a "falling knife" Miner. I would love to see others offering a chart with differing views. I had the great good fortune with this sort of debate on another site with traders who were genuine chartists many years ago. I met many of them in person. It is a quick and easy way to see who can and can't chart, many are disinclined to expose their abilities or lack of them. Often you will see a chart with no explanation which is less than helpful. I come to charting as though I am speaking with folks who are either highly skeptical or have no knowledge of charts. My focus is trying to show people the amazing information a chart can expose. It may be a black art but not one which can't be aquired with work and proper tutelage.

 

[Skate]

@Ann made this comment: Hopefully, other chartists like Tech/A, So Cynical, SKC, Gregg, and others could make comments on FAR and its double knife chart interpretation.

Footnote - @captain black should be included in the list above as his knowledge is invaluable.

My apologies in advance
I hate long winded posts & this is my second long post in a week - I get exhausted reading them let alone writing them. I'll chunk the post as usual to encourage you to keep reading and finally get to my chart of (FAR) for analysis explanation.

From my Perspective – as a recent owner of (FAR)
My views are from a technical perspective about the position I recently held in the company (FAR) a position exited with profit.

The typical trend follower would have been all over (FAR) jumping on board once the move was on (that’s the easy part) but knowing when to jump off is the tricky part of the equation. Knowing when to sell is where the money is to be made.

I made a post in another thread about inside information & those comments can go a long way in explaining the sudden movement about the company in question (FAR)

https://www.aussiestockforums.com/t...ion-how-to-get-some.34332/page-2#post-1001452

@joe requested more trading information so I'll explain how I handled my position in (FAR) and I’ll even show you a chart of my actual trade.

First Off
I want to give some background information for educational purposes explaining the feature of a (ROC) indicator - an indicator that would have protected most position holders of (FAR) using this technical indicator just as I had.

What’s a ROC ?
A (ROC) is a Rate of Change indicator, it's simply a Momentum Indicator that measures the percent change in price from one period to the next.

Investment success depends on two basic things:
1. Picking good stocks that increase in price, and
2. Effectively managing the stocks after you buy them.

Effective management means having a plan for either cutting losses or taking gains & @peter2 is the master at this game.

Managing your stocks after you buy them is what determines your level of success. Great investing results are a product of shrewd selling rather than smart buying.

Lousy picks
All investors will buy their fair share of both good and bad stocks. Even the best investor has plenty of lousy picks along the way, but it is the manner in which you handle those investments after their purchase that ultimately determines your level of success. If you sell your good stocks too early and hold on to your bad stocks too long, it doesn’t much matter how good your stock selection might be.

Selling
Successful investing is largely the art of selling. Buying a stock is easy. It is determining when to cut your losses or when to take your profits is the hard bit. Because it is so hard to determine when it is the right time to sell, many just don’t do it.

Irrational people
Trying to guess what an irrational person might do is sometimes futile. The market illustrates that point quite often with movements that defy explanation. Just like the recent movement of (FAR)

Psychology
Many people make the mistake of thinking that what move the market are financial statements, economic reports, and news. Those things may all have some impact, but ultimately the market is primarily an exercise in psychology. Unfortunately, even the best psychologists have a hard time predicting exactly how someone might behave.

The market is not logical or reasonable
The simple truth is that the market is not logical or reasonable. It is emotional and unstable. A market is nothing more than a crowd of people that has absolutely no regard for what any one person may think and most times rational people make irrational decisions.

Irrational and moody
One of the key advantages we have is knowing that the stock market is irrational and moody and prone to doing unexpected things.

The market is fascinating
One of the reasons that the market is so fascinating is that it combines elements of psychology, business, mathematics, and numerous other disciplines and sciences. Its value lies in its ability to help you understand behavioural trends in individual stocks as well as the broad market.

Reading a Bar Chart
It takes a bit of practice to get used to reading a bar chart, especially when the price is moving very quickly and @tech/a has proven to be the master of it.

Below I have uploaded a chart from my weekly trend trading strategy – it shows the entry & the exit signals.

I’ve attached the (ROC) indicator at the bottom of my chart for your reference - the exit signal was generated by the ROC indicator because it moved below the 0% line and lower.

On Friday the 28th September the (ROC) indicator dropped below the 0% line and the momentum of (FAR) was dropping. There was a small rally preceding this date only to fall greater the second time.

Study the Chart

Selling is a valuable tactical tool
Selling a stock is by far the most valuable tactical tool that the individual investor has at their disposal. Selling is cheap and easy and can be undone in the blink of an eye.

Too many seem to think that if they sell a stock, they are somehow prevented from buying it back again. Not so. For most investors, the biggest stumbling blocks to selling are mental.

If the momentum of (FAR) re-rallied there is nothing stopping you from buying it again, that the secret of trading.

Wimps
In fact, I’ll go so far as to claim that a smart wimp who runs and hides when the going gets tough generally produces better results than brave souls who are proud of their ability to suffer great monetary pains while they wait for their convictions to be rewarded.

Being macho
The problem with the “macho” approach to the markets is that the consequences of being wrong are so onerous. The stronger your convictions and beliefs, the more invested and braver you are, and the greater the chance for a backbreaking loss. The wimpy investor knows that the key to success is staying in the game for the very long term.

Bravery
Bravery can pay off nicely at times, but it can also cause you some grave injuries. Don’t be too fast to discount your feelings and emotions. Good investing requires a healthy emotional state.

In Conclusion
@tech/a, @peter2 & @captain black are more qualified to express an opinion on the technical aspect of trading & it would be enlightening to get their views through that experience.

Skate

 

[tech/a]

Some good stuff there.
But your answer came on 9/11
Im happy to comment on the chart and it is interesting particularly in lower timeframes.
But

 

[barney]

Im happy to comment on the chart and it is interesting particularly in lower timeframes.

I had a quick glance at that as well ……

Weighing up my previous readings on the Company; their current successes and now failure (only one, but an expensive one)

The short term price action indicates the heavy selling is being absorbed …… but who in their right mind catches a "falling knife" ….

"Deep pockets" with either intent … or "Time" on their hands …..

I don't trade Oilers any more, but if I did, I'd be happy to start accumulating this now …. Sell into the first bounce (even if its a dead cat) … then accumulate on the next dip/dips.

 

[Ann]

@Ann made this comment: Hopefully, other chartists like Tech/A, So Cynical, SKC, Gregg, and others could make comments on FAR and its double knife chart interpretation.

Footnote - @captain black should be included in the list above as his knowledge is invaluable.

My apologies in advance
I hate long winded posts & this is my second long post in a week - I get exhausted reading them let alone writing them. I'll chunk the post as usual to encourage you to keep reading and finally get to my chart of (FAR) for analysis explanation.

From my Perspective – as a recent owner of (FAR)
My views are from a technical perspective about the position I recently held in the company (FAR) a position exited with profit.

The typical trend follower would have been all over (FAR) jumping on board once the move was on (that’s the easy part) but knowing when to jump off is the tricky part of the equation. Knowing when to sell is where the money is to be made.

I made a post in another thread about inside information & those comments can go a long way in explaining the sudden movement about the company in question (FAR)

https://www.aussiestockforums.com/t...ion-how-to-get-some.34332/page-2#post-1001452

@joe requested more trading information so I'll explain how I handled my position in (FAR) and I’ll even show you a chart of my actual trade.

First Off
I want to give some background information for educational purposes explaining the feature of a (ROC) indicator - an indicator that would have protected most position holders of (FAR) using this technical indicator just as I had.

What’s a ROC ?
A (ROC) is a Rate of Change indicator, it's simply a Momentum Indicator that measures the percent change in price from one period to the next.

Investment success depends on two basic things:
1. Picking good stocks that increase in price, and
2. Effectively managing the stocks after you buy them.

Effective management means having a plan for either cutting losses or taking gains & @peter2 is the master at this game.

Managing your stocks after you buy them is what determines your level of success. Great investing results are a product of shrewd selling rather than smart buying.

Lousy picks
All investors will buy their fair share of both good and bad stocks. Even the best investor has plenty of lousy picks along the way, but it is the manner in which you handle those investments after their purchase that ultimately determines your level of success. If you sell your good stocks too early and hold on to your bad stocks too long, it doesn’t much matter how good your stock selection might be.

Selling
Successful investing is largely the art of selling. Buying a stock is easy. It is determining when to cut your losses or when to take your profits is the hard bit. Because it is so hard to determine when it is the right time to sell, many just don’t do it.

Irrational people
Trying to guess what an irrational person might do is sometimes futile. The market illustrates that point quite often with movements that defy explanation. Just like the recent movement of (FAR)

Psychology
Many people make the mistake of thinking that what move the market are financial statements, economic reports, and news. Those things may all have some impact, but ultimately the market is primarily an exercise in psychology. Unfortunately, even the best psychologists have a hard time predicting exactly how someone might behave.

The market is not logical or reasonable
The simple truth is that the market is not logical or reasonable. It is emotional and unstable. A market is nothing more than a crowd of people that has absolutely no regard for what any one person may think and most times rational people make irrational decisions.

Irrational and moody
One of the key advantages we have is knowing that the stock market is irrational and moody and prone to doing unexpected things.

The market is fascinating
One of the reasons that the market is so fascinating is that it combines elements of psychology, business, mathematics, and numerous other disciplines and sciences. Its value lies in its ability to help you understand behavioural trends in individual stocks as well as the broad market.

Reading a Bar Chart
It takes a bit of practice to get used to reading a bar chart, especially when the price is moving very quickly and @tech/a has proven to be the master of it.

Below I have uploaded a chart from my weekly trend trading strategy – it shows the entry & the exit signals.

I’ve attached the (ROC) indicator at the bottom of my chart for your reference - the exit signal was generated by the ROC indicator because it moved below the 0% line and lower.

On Friday the 28th September the (ROC) indicator dropped below the 0% line and the momentum of (FAR) was dropping. There was a small rally preceding this date only to fall greater the second time.

Study the Chart

View attachment 90236

Selling is a valuable tactical tool
Selling a stock is by far the most valuable tactical tool that the individual investor has at their disposal. Selling is cheap and easy and can be undone in the blink of an eye.

Too many seem to think that if they sell a stock, they are somehow prevented from buying it back again. Not so. For most investors, the biggest stumbling blocks to selling are mental.

If the momentum of (FAR) re-rallied there is nothing stopping you from buying it again, that the secret of trading.

Wimps
In fact, I’ll go so far as to claim that a smart wimp who runs and hides when the going gets tough generally produces better results than brave souls who are proud of their ability to suffer great monetary pains while they wait for their convictions to be rewarded.

Being macho
The problem with the “macho” approach to the markets is that the consequences of being wrong are so onerous. The stronger your convictions and beliefs, the more invested and braver you are, and the greater the chance for a backbreaking loss. The wimpy investor knows that the key to success is staying in the game for the very long term.

Bravery
Bravery can pay off nicely at times, but it can also cause you some grave injuries. Don’t be too fast to discount your feelings and emotions. Good investing requires a healthy emotional state.

In Conclusion
@tech/a, @peter2 & @captain black are more qualified to express an opinion on the technical aspect of trading & it would be enlightening to get their views through that experience.

Skate

What a sterling job you did with this post Skate. It is enormously helpful! I have looked at the ROC but in the auto setting on IC it rides the line quite differently. I clearly need to do some work on the ROC settings. Looking at your chart the ROC gave you an entry signal as well as an exit signal.
I will even forgive you for verballing me! It was miner who was calling for charts from others not me, however, I do love to see other peoples charts.

 

[tech/a]

Unfortunately ROC follows price
As a predictive tool it will be wrong as often as right
It’s when you have a striking disparity like this chart you tend to take notice
It is rarely a sound indicator.
There is a buy signal straight after Skates sell signal he points out!

 

[Ann]

Unfortunately ROC follows price
As a predictive tool it will be wrong as often as right
It’s when you have a striking disparity like this chart you tend to take notice
It is rarely a sound indicator.

That is how I have always seen it tech/a, but seeing it in a different position on the line on Skate's chart is interesting. I want to see if I can reproduce a similar position on my chart by fiddling with the settings. Just a chart challenge which I enjoy. Not looking for the holy grail!

 

[tech/a]

Not looking for the holy grail

You should be!