Morning
@andersonmacferNice open! My favourite of all cheesy melts without a doubt goes to the “croque maddame”. Oh mamma! That bechamel sauce is something to be desired.
Back from holidays! And back to work also. Have some upcoming deadlines so may be a bit quieter here this week. With that, comes a different approach to trading. I’ll be moving out to the monthly charts and looking at weekly gains instead of hourly gains. It looks like he market changed on my week off with fewer crazy pumps. Thank Christ!
Of interest to me is TSO, who, with a video presentation, confidently addressed shareholder concerns and significantly derisked their project by addressing water usage. Looking for a significant re-rate here in the coming weeks. (Cashed up and good to go)
IBX making promising progress with human trials, based in Australia. Their utilisation of nanoparticles to mark HER-2 breast cancer will reduce ongoing risk associated with current imaging contrasts, and further reduce the cost of scans. Any advancement in cancer research is worthy of investment in my books.
Finally, I made the rookiest of errors and want to share in the hopes others won’t be caught the same way I was. Before leaving for my break, I liquidated a heap of shares and moved money out of my trading account, but left around 5k on one share. Z1P.... (hindsight faceplam)
The 5k was put on Z1P with my own capital. However, through FPmarkets some shares can only be purchased with a margin. For several days Z1P was in the green, no problem. However, as soon as it dipped into the red, FPmarkets closed my position to cover their own margin.
Unbeknowns to me, if your GLV value falls into the red, they have rights to close your position, which I don’t agree with, but are the rules. So, because my 5k position was taken with a 20% an initial entry margin, it took only a few pips for my GLV to equal 50% of the total exposure. Ie $5k capitol = $25k exposure
long story short, a position which I didn’t want to be closed out was closed out for a 50% loss. An expensive mistake on my end, but I guess only my fault for 1) not knowing that rule 2) buying a share through FPmarkets that used a margin to gain exposure 3) going on holidays with an open position - never again
Anyway - hope it prevents someone else making the same mistake. Look forward to making back my loss this week!! Haha (what can one do but laugh at their own stupidity)
have a a good week all and see you out on the trading floor..... p.s anyone make a million bucks last week?
