For better or worse

[Moneybags]

Hey Ric371,

Thanks for posting up your trades. I will be watching with interest.

WMT had a stella performance today.........how much further are you expecting it to run.

MB

 

[ric371]

I have no Idea how much longer but ut is still looking good for tomorrow, I have a floating stop coming up under it so at worst I should clear a good profit if it drops, but I dont think it will tomorrow anyway.

 

[ric371]

WMT Well we know now how much longer, my stop kicked in at 24 so I still made almost 20% on it over 2 days so shouldent complain. I have attached the SMG Graph for it today and its all down still suggesting further falls tomorrow. the thread on here for WMT is suggesting a fall to around 18, could be right !

I added EME today at $4.26 and it finished up a further .24 and still looks good for tomorrow.

Loking good for tomorrow is JRV and EVE is also looking positive again I might drop my bank on JRV If I can pick it up at a reasonable number before it gets ahead of itself.

Below my trading diary and WMT chart.

 

[Out Too Soon]

Unlike the old hands in this thread, I think it's alright to sinking $2K per stock (though I've now graduated to 2.5-3K)... when you are just starting out a $500 loss (i.e. 10% of 5K) is prob more than you want to deal with.

More importanntly, why are you paying $29.95 a trade!!!! There are plenty of brokers out there offering $19.95- Comsec and Avcol for example.... you could of saved $100 already (assuming that at some point in time you will SELL your stocks)

Too true Kipp! I've advanced to 3-5K per trade now & while "the old hands" are losing 5 digit bucket loads with their stop losses I've made a few hundred on BSG & PDN of which I bought yesty & sold today.
I'm with Westcrap & @ one stage they were charging me 29.95 instead of 25, that extra $5 cost me hundreds for the few months they got away with it.
Don't let them talk down to you,("the old hands"), I'm sure noobs with fresh ideas have a place on this forum. Wouldn't be interesting anymore with just the same old stale ideas.

 

[CanOz]

Too true Kipp! I've advanced to 3-5K per trade now & while "the old hands" are losing 5 digit bucket loads with their stop losses I've made a few hundred on BSG & PDN of which I bought yesty & sold today.
I'm with Westcrap & @ one stage they were charging me 29.95 instead of 25, that extra $5 cost me hundreds for the few months they got away with it.
Don't let them talk down to you,("the old hands"), I'm sure noobs with fresh ideas have a place on this forum. Wouldn't be interesting anymore with just the same old stale ideas.

I started the same way, with small parcels just after the May selloff. I didn't start making any money until i used larger parcels as i transferred money into my trading account and the market reversed and continued up. Small parcels maybe ok in a bull market. But everything has changed now.



Cheers,

 

[nizar]

I started the same way, with small parcels just after the May selloff. I didn't start making any money until i used larger parcels as i transferred money into my trading account and the market reversed and continued up. Small parcels maybe ok in a bull market. But everything has changed now.



Cheers,

Can,

I think its a bit early to call the end of the bullmarket.
Could just be a correction. In my opinion.

 

[CanOz]

Can,

I think its a bit early to call the end of the bullmarket.
Could just be a correction. In my opinion.

I really hope your right Niz.

Cheers,

 

[Out Too Soon]

Despite what the doomsayers are saying our economy is strong, our share market may be running a bit hot but certainly not bubbled, avg pe s are low & superfunds etc still have heaps of cash flowing in that MUST be invested somewhere. While I don't doubt the panicers (panickers? ) may drop us to 5300 in the next month or so I cant see how we wont quickly recover.
We could recover so fast that May? 2008 could be the REAL correction that we had to have! (25% drop from 8000 to 6000) now that would hurt more for longer.

PS you read it here first :

 

[ric371]

Today was pretty well sideways.
JRV took off early so I backed off and purchased MAE which looked good but dropped 5% on during the day, JRV then finished the day = to yesterdays close the chart now suggests it will drop a little tomorrow. I will need to watch MAE tomorrow, EME had further gains but may be running out of steam on low volume, I probably should quit it while I am ahead the chart is suggesting it will reverse tomorrow.

Overall I am up 2.41%.

 

[ric371]

Not a bad day today, I was going to drop EME today but the volume traded made it difficult, still have a sell order in place and will take a profit if I can on Monday, the volume in this stock is to low to really get a feel for the chart;

I did sell BLG at the end of today at .88 its peak for the week and looking at the Smart money analyser tonight I would not be suprised to see a fall on Monday.

Over all for the week I am up $717 on $12000 for the week, so much for those that said I could not make a $ on 6 stocks at $2000 per stock,
I know a week dosnt make a year but annualise this gain equates to 333% PA I would be over the moon if I could do a fraction of that in a year.
So it will be interesting to see how next week unfolds.

Lesson learnt this week was I should have picked the 30c top for WMT it hit that resistance and bounced off it a couple of times before falling back to my stop. I was just being to greedy still I finished up with a gain of 20% so I am happy

 

[nizar]

annualise this gain equates to 333% PA

I wouldnt count on it.

 

[ric371]

I wouldnt count on it.

neither would I, but one can dream

Hold fast to your dreams, for without them life is a broken winged bird that cannot fly .
Langston Hughes

 

[ric371]

Today was interesting, I wanted to get set on MUR early but may have gotten a bit carried away but after looking at charts again tonight and reading the speeding ticket, I think tomorrow could see some gains on MUR
I have sell flags on PMM and EME so I have added PMM to the sell list, EME had only one trade today so my sell is still in place. as I have over brought on my bank I will wait till I sell someting to fund the next buy.

 

[nizar]

Just curious why did you sell BLG?
Its still in a strong uptrend.
Learn to let your winners run. Using an end of day stop should help avoid those tails.

 

[ric371]

Just curious why did you sell BLG?
Its still in a strong uptrend.
Learn to let your winners run. Using an end of day stop should help avoid those tails.

BLG looke to me to be running out of steam so I figured I should put it back in the bank,

It has run on a bit but I still believe it was time to sell and still do, I was also holding BLG in my main portfolio and that will be sold today.

You might like to hold a bit longer and look for the elusive top, me I like to take the profit when I see an ending to a run.

 

[CanOz]

BLG looke to me to be running out of steam so I figured I should put it back in the bank,

It has run on a bit but I still believe it was time to sell and still do, I was also holding BLG in my main portfolio and that will be sold today.

You might like to hold a bit longer and look for the elusive top, me I like to take the profit when I see an ending to a run.

Hmmm, taking profits too early was my weakest point in trading. Base your decisions on measured moves, not feeling. This should get you more in the bank.



Cheers,

 

[ric371]

Thanks for that,
After today I may well have been better to take a few more profits out yesterday. mm

I wont have time to do a full report tonight except it wasnt a good day,
I am going to a Rivkin Seminar, more tomorrow

 

[ric371]

Sorry I missed a couple of days but here it is and at least we are in overall positive, and much better than I finished yesterday.

I still have a couple of sell orders n place which could rise to meet me tomorrow.

 

[ric371]

Well another ordenery day and the market still has not found my sell orders but I am still in profit, surley the reversal I see in MUR would eventuate soon, their balance sheed was out tonight may be that will stimulate the market tomorrow,

 

[ric371]

Well , this week has re taught me ( how many times will it take) that this type of trading is as close to gambling as I want to get,
I took my eye off the roulette wheel for a couple of days and neglected to leave stops on VMS and MUR so some losses have been recieved, However my charts are still saying that these 2 are about to spike again so I will hang in there and try to get out with little egg on face as possible.
PNA is performing well and I have set a sell at 42.5 believing that this will be close to its peak and could occur today.