For better or worse

[2020hindsight]

Ric
I'd be interested to see two options proceed from here..
a) the first had you set those stops, and lost, and
b) the second where you ignore the temporary dip, and move on through the valley of the shadow of insolvency, and come out the other side into glorious sunshine.

PS this is advice to myself really - So often I sell too early.
good luck either way. Thanks for being candid with us "warts and all".
Also should be mentioned that you got in pretty low, so it highlights, as you say, the gambling aspect.

 

[Out Too Soon]

Ric
I'd be interested to see two options proceed from here..
a) the first had you set those stops, and lost, and
b) the second where you ignore the temporary dip, and move on through the valley of the shadow of insolvency, and come out the other side into glorious sunshine.

PS this is advice to myself really - So often I sell too early.
good luck either way. Thanks for being candid with us "warts and all".
Also should be mentioned that you got in pretty low, so it highlights, as you say, the gambling aspect.

Ric, I keep an ASX watchlist of shares I sold @ the price I sold them at, that way I can keep track of if & when I'm "Out Too Soon" , 80% of the watchlists (3 now) show I would have made more money if I'd stayed in, (2020s' type of investment), of course what they don't show is did I make more money selling & jumping on something else. I'll have to work that out soon although I keep putting it off as I might not like the answer.

 

[ric371]

Ric, I keep an ASX watchlist of shares I sold @ the price I sold them at, that way I can keep track of if & when I'm "Out Too Soon" , 80% of the watchlists (3 now) show I would have made more money if I'd stayed in, (2020s' type of investment), of course what they don't show is did I make more money selling & jumping on something else. I'll have to work that out soon although I keep putting it off as I might not like the answer.

I am the sort of person that once a decision to sell is made I try not to look back, the fundamental reason for selling has not changed.
I think if you try to hard to pick a top or bottom than you will mostly be off the mark, my preferred plan is to set a sell point at time of purchase and mainly stick to it, if it is rising strongly I may hold off or raise my Sell price slightly.

If I do look back at a stock later it will be to look for another buying opportunity, and not to whip my self for not picking the top or bottom, thats just masochistic.

 

[ric371]

Ric
I'd be interested to see two options proceed from here..
a) the first had you set those stops, and lost, and
b) the second where you ignore the temporary dip, and move on through the valley of the shadow of insolvency, and come out the other side into glorious sunshine.

PS this is advice to myself really - So often I sell too early.
good luck either way. Thanks for being candid with us "warts and all".
Also should be mentioned that you got in pretty low, so it highlights, as you say, the gambling aspect.

One of the reasons for actual $ trading these stocks is that I have found it to easy to cheat using paper trades, it is to easy on a paper trade to nominate the best price for the day as your selling price and the lowest for your buy price, thus paper trading will always be more profitable than real trading. By putting real money into the equasion and accepting the deal that occurs at yor buy or sell price cannot be fudged, It can be reported fudged but thats another story.
All the trades shown on my reports are backed up with NAB invoices.

Ric

 

[ric371]

Hooray , we are back in profit after yesterday, still dissapointed in MUR and VMS but both are still pulling upwards so I should have an opportunity to recover most of those losses,
PNA has paused just below my sell point last couple of days but looks set to hit it this morning, tonight will tell.TTS and MAE ate also looking positive for a profit as well.

 

[2020hindsight]

One of the reasons for actual $ trading these stocks is that I have found it to easy to cheat using paper trades, it is to easy on a paper trade to nominate the best price for the day as your selling price and the lowest for your buy price, thus paper trading will always be more profitable than real trading. Ric

ric well said, (too true) 2020

 

[ric371]

Another month and more opportunities I am going to continue to post this paper trade with real money, not every day but maybe twice a week.

At the end of March I decided to dump my mistakes VMS and MUR I took my eye off the ball with these 2 and should have had stops in place but I neglected to do so so I paid the price.
I replaced them with RHD on the basis of recent director buys and aparent prospects and my charts seemed to back up the technical
Today I purchased a real penny dreadfull MBI for .007cents these are swinging 10% either way at present, the Inside Trader chart looks positive and hay they were peaking at $16.00 at the height of dot com and yet they still survive all be it a shadow of their former selves. The company says it has turned around the market seems to have started to look seriously at them again with a fair bit of volume 72 millian yesterday when they peaked at .009 so I took a punt at .007 and picked up a few which then jumped to .008 a nice 14% gain in minutes which could of course become a loss tomorrow. Or then they could become a real company again and perform.

 

[ric371]

Well , It's the end of the first week in April and despite somm pre Easter sell offs the market is holding and my little portfolio is growing again

 

[Kipp]

Ric, I keep an ASX watchlist of shares I sold @ the price I sold them at, that way I can keep track of if & when I'm "Out Too Soon" , 80% of the watchlists (3 now) show I would have made more money if I'd stayed in, (2020s' type of investment), of course what they don't show is did I make more money selling & jumping on something else. I'll have to work that out soon although I keep putting it off as I might not like the answer.

Lol... yes if I only we could stop ourselves from tracking a stock AFTER we sold.... I figure if you sell out for 20%+ profit well- you can't feel too much regret really- even if said stock runs another 20% (especially if you've held for <1 month)
Remember fellas, the banks will only pay you 6.5% for your money (at best) so if you can swing a 10% profit on a trade- you're alrready doing a whle lot better than that.

There were a couple of winners on your list though ric- bummer about PMM & EVE- but Im sure you had your reasons for abandoning ship when you did...

 

[disarray]

i'm with ric and his method. i think day traders, short / mid term traders and investors here all get mixed up with what is a good system and not, and compare to their own trading style against someone elses who has a completely different mindset & desired outcome.

as a flexible, part-time investor i think a scattergun approach makes sense. like ric i buy 5 - 8 parcels of $3k - $3500 each (up to $5k on more expensive stocks), watch it for a short while and sell off the losers taking a small loss and hold onto the winners and cash them in when i think its time. an extra $10k a year based on a $30k outlay is a nice little earner, and quite possible in the bull market. i'm sure bear markets are a different beast but if you can adapt there are should still be ways to make a profit.

for day traders and professionals (the old guard), the stock market is a full time job with large investments, buckets to make and lots to lose. for most of us noobs here i think its a new side business opportunity to supplement the income. its only recently that we have been able to take advantage of the new technology that makes this all much easier to get into and less "cliqued". with the wealth of free information out there as well its easy to self-school.

this forum and many posters in it have provided a great deal of helpful information for which i am grateful, but it is important to note that who they are, how they think and what they trade may be completely different to how other people do it.