Started trading with the left over funds I had from my divorce around 9 months ago which after buying myself a nice car outright and setting myself up with a place to live was about $25k. I had no idea what I was doing but I had always had an interest in trading the stock market (ASX) and my money had been sitting in the bank gathering cobwebs for a few months.. So I thought what the hell.
I initially invested in the mining sector and got burned pretty badly. Actually not far from a crisp..
I had written off around $15k of that $25k within the first 3 months and found myself wondering what the hell I was doing. I was clearly out of my depth.
Anyhow I was watching a number of different stocks across other sectors and I had recently read an article titled "Is Australia set to spawn the next generation of Silicon Valley millionaires" or something to that effect. It focused on reverse takeovers.
So I cut my losses and focused all my attention to back door tech listings of defunct shell mining companies. 100% that was my target of focus & contimues to be a further 6 months later to today.
I jacked two credit cards to prop my trading balance back to $20k because I was determined to not let the market beat me. Sounds risky but I did immediately organise interest free balance transfers on the balances and decided I'd just plug along using my night job to pay them off fairly quickly.
Can't say I'm not a risk taker!
Anyhow I've really only traded seriously across 3DM, AZK & PRA.
3DM I positioned myself beautifully and sat back and watched the share price fly early on. But.. I wasn't aware of pump and dumps so I held on and watched my potential profit (all in) rise to $22k (yes I could have pulled out $42k) then dump and I ended up frustrated and took about a $2k profit. I learned that to make money (and I am extremely impatient) that I needed to position myself as best as I possibly could in another tech stock.
Enter AZK. I bought in at 19.5c and rode it up to the high & sold at 42c (all in) for a new portfolio value of $42k roughly.
Then I watched it crash for the remainder of the day and into the next.
Then I bought all in again & ride a bounce of 30% shortly after. Bringing my portfolio value to $54k.
I played again with AZK & jumped ship after about a $3k loss (all in) then headed over to the second most recent run at PRA again all in for a 50% return taking my portfolio value to $76,500.
Then I lost focus and split my trades up and again lost some coin roughly $5k. So I gave myself a stern talking to.
I was walking circles around my couch saying you know what you are doing now. Stop f$&@ing around and re focus!
After my abusive pep talk I had watched AZK from the sidelines drop significantly day on day for a week recently. I watched it retrace to 22c. I backed my call that AZK were due for a technical bounce off Fridays close heading into Monday when I saw it bounce off support at 20c.
I was sitting on the couch eating pizza celebrating the truck load of coin I had made recently (in about a three week period) and my gut was screaming BUY AZK. So at 3.59pm I put it all on the nose again. Yes I'm insane I know. Got in at 22c on close.
Monday I'm sitting watching the buy and sell side building thinking to myself I better bail on this it really doesn't look good. Take a $3k hit or profit early & get out you idiot. Then 10 minutes before open I'm hit with a Trading Halt! I freakin shit myself! Two days with every penny on the line & I had no idea whether it was going to be good or bad.
Two days of no sleep & no trading as everything was in lockdown..
Weds comes along & I'm jumping up and down like a banshee when they announce they have reached milestone 1 & I'm calculating my profits as the indicative price surges upward from 22c to 32c. Long story short I bail out completely at 29.5c taking around a 35% profit and went straight to the pantry at about 10.10am and skulled about a quarter of a bottle of Beam.
Now I'm over in PRA again and I'm well up over there.
My portfolio has exploded but I'm not too big for my boots. One wrong move.. If AZK had have gone the other way & would have been toast.
So. That's my story so far. I'm still alive after coming back from the depths of despair and I tell you what I have done it in some f$&@ risky ass style!
