Gidday Hotfire, Jgunt, Bungi, Snake & others.
Been following all your posts for ages and am very grateful for your sharing of info.
I am a long term investor (never geared, never margin loaned)and have been a long holder in AGO for years, and continue to hold ($60k SMSF holding).
I have recently been short term trading AGO buying below $3
and selling around $3.30 for a 10% gain - buying FPO, investing $10,000 and making around $1000 profit 3 times in approx 8 weeks.
I've been comfortable with this approach on various stocks that I'm happy to hold long term, and I don't get in over my head. if the worse happens and the market tanks I can afford to hold for months to wait for the recovery.
I,m interested in the strategies you guys use to day trade (or week trade) AGO as I can see the potential gains gearing can supply. Do you use CFD's (I am investigating utilising them) and what strategies do you employ to minimise your costs / losses. I am comfortable if I took a $1000 loss and have a $50k warchest; what approach would you guys take?
I trust I'm not asking for too much and I won't be relying on your answers as I am entering into this endeavour with my own research and my eyes wide open.
Once again I really enjoy reading your posts.
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