It was tough placing my buy orders this morning

[Dona Ferentes]

Got to be honest, the market has got the better of me. .... So I’m now pretty much 100% cash (with the exception of a few discretionary positions). I give in.

won't be full capitulation until you lose that ridiculous avatar !

But seriously, it's no longer shaking the tree and seeing what falls out; the whole forest is trembling.

Margin call LVRs must be tested with the rapid, prolonged and sustained falls. A 26% drop in just under 2 weeks; unprecendented!

And, landing on traders' desks of late (and over the next few days for the laggards, undecided/ nervous nellies and just plain confused) will be managed fund redemptions and Super fund switches (to cash). As these are open ended, they have to sell (only trouble is there are few buyers of the dross in these funds so the good stuff gets offloaded).

 

[MovingAverage]

won't be full capitulation until you lose that ridiculous avatar !

.

Really...my avatar. Guess I should change it to a ? so I have more credibility hey...seriously, I mean no offence but you’ve also been pretty silent since I started this thread and now you comment on my avatar. I give in...seems like some folks are happy to come out and comment now that I’ve thrown in the towel. Like I said earlier, easy to come t when you’re on the sidelines

 

[Dona Ferentes]

Really...my avatar. Guess I should change it to a ? so I have more credibility hey...seriously, I mean no offence but you’ve also been pretty silent since I started this thread and now you comment on my avatar. I give in...seems like some folks are happy to come out and comment now that I’ve thrown in the towel. Like I said earlier, easy to come t when you’re on the sidelines

I'm not a trader. I have no 'system'. I have cash in the bank, enough for a year. (running short of toilet paper, though)

(actually, I commented on yr avatar briefly <cheap shot, I'll admit>, then moved to what I think are pertinent points as to why the selling, irrational as some think it is, might continue)

 

[MovingAverage]

I have no 'system'.
(actually, I commented on yr avatar briefly <cheap shot, I'll admit>

oh...a discretionary value trader, that makes sense now <cheap shot but we’re friends hey>. Would have been nice to get your genuine comments when I was posting about my trades as I was making them...I don’t lose sleep over my avatar, but thanks for your useful insight

 

[Smurf1976]

This is exactly the times, where the people that @Smurf talks about, get hurt the most.
Those between 55-67, in times like this they get laid off, their super has taken a hit and they are on newstart allowance. There is very little chance of re employment and they have to manage through to retirement age, you really have to feel for those especially IMO.

Yep - it's not my personal situation but I've seen quite a few go through it and if times are tough economically that 55 age can come down considerably.

 

[sptrawler]

Yep - it's not my personal situation but I've seen quite a few go through it and if times are tough economically that 55 age can come down considerably.

I was out to dinner with a mate from over East last night, he is 66 and a maintenance planner, he said that the only way he can get a call back from a job application is to not mention his age in his CV.
It has been that way since he turned 50.

 

[frugal.rock]

Whilst I understand the emotions that are probably going through your head, take a few days off.... regather, regroup, get your head together, process the emotions that have led to this experience. Learn to recognise those emotions and stop and deal with them as they occur.
No one on the forum is responsible for your situation, the market could be blamed also, but we make our own beds so to speak.
You have ended a chapter in your book. Am interested in your next chapter. We're all on this journey together, are we not?
As for the avatar...


Regards,
F.Rock

 

[MovingAverage]

No one on the forum is responsible for your situation, the market could be blamed also, but we make our own beds so to speak.
You have ended a chapter in your book.

Regards,
F.Rock

hmmm...while I appreciate your comforting words you seem to be suggesting I’ve blown up my my capital and that I’m looking for someone to blame. Nothing could be further from the truth...in total I’m at about 8% DD. My frustration comes from some recent posts from folks sitting on the sidelines who’ve been happy to sit on the side but now feel the need to comment given I’ve admitted the mental fortitude required to continue trading in this market is too much so I’ve closed all my positions. Thanks for the YouTube clip but I’ve got the DVD box set

 

[frugal.rock]

If there's no value input, I try not to post...Can't help myself sometimes though.
Personally sitting on -10.3% DD with 6.88% of that today alone!
It was up 10% last weekend... from persistence and work for a month.
Was congrats myself on the situation...
No one's throwing stones...
Except maybe one, with hindsight, do you think it was wise ignoring/ being blissfully unaware of the markets overnight?
If the NASDAQ is down 8% at closing, I certainly bloody well want to know about it. Something to consider when you get itchy again...

F.Rock

 

[qldfrog]

Sorry qldfrog, I can't tell if you're going long or short FMG? I'm interested in knowing what you think given your outlook has been negative on the corona virus to date.

I went short 4 times and usually doubled within the week.i doubt i would go long yet but did not check fmg price tonight
I just looked at industrial for long like compushare etc which went 4y backward and have now reasonable pe with low expected negative impact from the virus or the economic recession

 

[tinhat]

I went short 4 times and usually doubled within the week.i doubt i would go long yet but did not check fmg price tonight
I just looked at industrial for long like compushare etc which went 4y backward and have now reasonable pe with low expected negative impact from the virus or the economic recession

I listened to the grey butcher birds. That was before your post.

 

[Triple B]

Hey Moving average .
-8% is OK
Perhaps you need to add a "fuse" to your strategy.
In unusual downturns I reckon you need an external indicator to help to tell you when to stop going long.
Going against a strong downturn in the overall equity market will only end in losses.
You can also consider going short using CFDs. or try Bear ETFs .or gold and Silver stocks.
An indicator I have considered is https://www.marketindex.com.au/
the expected volatility indicator. No Long trades in the red zone. (except Gold , bear ETF)
BTW. First time on ASF in months.so I have only just read this thread.

 

[aus_trader]

Yes a mate of mine close to retirement, was asking a couple of weeks ago what I thought, I said it isn't my place to say but the market is high.
He hung on untill the virus hit, then hit the panic button, it will be interesting to see how much he is affected I will let you know the %.

One of my former workmates is already down 20% in Super, which hurts as he is retired. Looks like the market could go deeper though

 

[tinhat]

One of my former workmates is already down 20% in Super, which hurts as he is retired. Looks like the market could go deeper though

Birds will still sing. The grey butcher birds around here are amazing. They remind me of fresh school kids in new shoes. Humans will still wears shoes. Have you looked at AX1. I don't hold.

 

[frugal.rock]

I listened to the grey butcher birds. That was before your post.

Good one tin head.

 

[frugal.rock]

Birds will still sing. The grey butcher birds around here are amazing. They remind me of fresh school kids in new shoes. Humans will still wears shoes. Have you looked at AX1. I don't hold.

Butcher birds rip the heads of little twurpy budgies...

 

[aus_trader]

Birds will still sing. The grey butcher birds around here are amazing. They remind me of fresh school kids in new shoes. Humans will still wears shoes. Have you looked at AX1. I don't hold.

Yes, have followed the stock for some time, all the way back to when they were 'Athlete's Foot' shoe retailer. Same company different name, but the retailer is not having any luck of holding it's share price in this environment, getting beaten down along with most other stocks.

 

[frugal.rock]

How does systems trading factor in these sort of movements?

 

[tinhat]

Butcher birds rip the heads of little twurpy budgies...

So melodic though.

 

[tinhat]

Yes, have followed the stock for some time, all the way back to when they were 'Athlete's Foot' shoe retailer. Same company different name, but the retailer is not having any luck of holding it's share price in this environment, getting beaten down along with most other stocks.

I'll probably buy some AX1 at some stage. I just like the call of those birds.