waiting for senegal extension, page-61

To all Far holders on HC,

look the simple matter with FAR is it a golden dream if it does come true. And that is a big big if.. There is alot of circles it needs to jump through to start making some money.. Extension and then have a drill success, then drill it out or be acquired by someone etc...


The problem with these stocks like other explorers is that someday their golden dream may come true or it may not and we lose money...

I like many fell in love with the stock and the story being a novice trader in 07-08 paid 15.5c for most of my holdings and averaged down and held until 09 and sold before shell pulled the pin and got my money back + about 10% which I was happy for back then. I was motivated by greed thinking this would be a 10 bagger or more.

3.5 years later and alot of learning about psychology of trading and more understanding of technical and fundamentals of stocks, i have a better strategy when dealing with FAR and other explorer stocks. I don't call myself an expert just a better or intermediate trader..

The one major lesson I have learnt about explorer stocks like FAR is you have to stop attaching yourself to the stock and company and all their pipe dreams... forgot about having emotions with it.. you need to develop a strategy on how to make money out of it..

My best advice is to look at technicals only and go with the trend as the "trend is your friend"..

So my strategy with FAR in the last 1 year has been to buy when it was unloved and trading sideways or slightly improving and then sell when it when it pulled back after a good run.

So when the capital raising at 5.8c was announced i was concerned the price would drop and sold at 6.3c when i could still participate in the capital raising which i did.. I then bought more after acquiring at 5.8c in cap raising afterwards at 6.5c to average my postion size up as i could see the trend was starting to develop and then volume came in and it went to a high of 18c..

Now i had no idea how high it would go i didnt care, i would ride the trend all the way, as i never try to pick the top of a price range nor do i pick the bottom when i buy...

But as soon as it dropped more then 20% i sold at 14.5c and made over 200% profit... Now I am not sure about you but Im very happy making 200% less alot to mr taxman in about 3-4 months of holding...

Today i am still looking for a good opportunity to get back in again and I hope I can do again soon...

The golden lesson is let your profits run and cut your losses quickly even if you lose money.. At the end of the day if you make 50% on 1 stock and you lose 20$ on another stock your still winning...

I still hope like many others the fairytale story will come true for FAR but I hope this story helps..

Anyway good luck to all FAR holders I hope ME does find oil and I will be watching and following very closely...


DYOResearch of course but the following things helped me.

- The Complete Turtle Trader by Michael Covel
- Adaptive Analysis by Nick Radge - good for Physcology 101 and learning capital preservation
- Elliot Wave charts.

Fundamental stuff which helps with other stocks
Roger Montgomery - Valuable

All the best,
Fod