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09/10/24
19:16
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Originally posted by zac5600:
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IMO swing trading is relatively stress free and has always gifted high rewards. It's a simple process... As long as you follow the process. 1. Find a company that has good prospects, i.e debt free, working towards generating free cash flow 2. Look for upcoming news that may favourably affect the share price of that company. 3. Understand the risk. i.e it's hugely possible that they aren't able to meet their own deadline. 4. Understand the current potential profit. How I've invested in PEN 1. Found PEN originally through using chatGPT by searching for prospect companies in the uranium business. This is mainly due to the flag pattern that was forming on Uranium, being highly favourable for companies about to start producing Uranium 2. Fortunately found PEN at a time where it is working towards being one of the first uranium mines to open. Good opportunities to come as many people will be wanting to start long term investing in this company in the hope of it generating revenue in the medium term future 3. PEN plans on having the mine operational late this year to early next year, this means I'm going to ensure any trading I have done has ceased by that point so that I don't risk hurting my portfolio due to unfavourable news. 4. The trading volume over the last couple of weeks has shown how much people are getting behind this company. So I've invested, put 20-40% profit margins as my goals. Once those goals are met, i wait until a correction occurs and do the same thing. If the price falls, no stress, just pump more money into it until that 20-40% is made of the averaged share price. Rinse and repeat and don't get greedy. Pull out before the bad news comes out and you're laughing
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And if anyones wondering, this method has put me up 83% of realised gains from PEN that are now sitting in my bank. I have one last trade in this company until i look for different projects in different markets