RSD
You've inspired me to come out on this forum as well. I've been watching for a couple of years although barely trading a thing.
I entered the market four years back with an inheritance and scarcely any experience, a dangerous mix and needless to say I have managed to shrink a large number, six figures, down to a small one, five figures, very low. Not proud of this achievement I have to say and I'm attempting to lift my game.
My story is that of the classic fool, a story of new found wealth and a dream of growing it, fast, naturally on the market. Dangerously deluded and believing myself knowledgeable I read the financial pages and fell in love with rare earth stocks...yup...LYC. There were others but Lynas was the one I really had my hopes pinned on and as months turned into a year and more I clung to the damn thing hoping and believing. Meanwhile I must have been learning something at least about FA, charts just make my eyeballs rotate, I found ICG here on the STT and jumped in early at .05 then sat and watched it three bag and tank. I bought more on what I thought was bottom last year at .024 but have never traded its many opportunities. I feel like a rabbit in the headlights when there is a rerate event and just sit there seemingly incapable of movement! I also hold a parcel of CZD which I got onto here and back in March it went up to 0.16 giving me a .07 cent profit but I was convinced it was going further and missed. I could have sold on the way down but, like a fool I figured it was going up again, you know, the pull back before powering on etc etc.
I know I'm sitting on two good stocks and both could reward me well and I'm looking forward to being flush again and approaching this game far more intelligently. I now know I need a strategy and discipline and at least basic charting skills. I'm great at researching, can ferret around on the net for hours gathering data on the fundamentals but....I need selling skills. It's so easy to buy but when to get out?
There have been some great posts on this very subject here on the thread, one a while back from Giz I think and I copied it into a file I keep on brilliant posts. Here there are plenty of brilliant posts and at this point I'll express my gratitude to all here who share their experience and learning so freely.
I'm currently living in India, I'm old enough to be retired and a bit of a gypsy with a smartphone and HotCopper, that's all I have with which to follow the market from wherever I am, twenty minutes retarded and a broker in Aotearoa ...all on a very dodgey 3G connection.
I have a very patient, very loving wife who is picking stocks and paper trading and making a steady income, on paper, we both like this thread and its participants very much, we appreciate the quality and the style, the generosity and sincerity from so many of you here.
Big thanks to Freehold for starting it all up and keeping it running.
I too want to contribute here and I guess this small sharing is the beginning ....
Bye for now
Zen.
