Hi all,
I hope you don't mind but I thought that while we're waiting for something to happen here I'd share my trading story with you. In may last year I took ten grand from my savings and decided to turn it into a small fortune. I read the financial papers and had signed up to a few newsletters, so how hard could it be? I have a large and very young family (3 kids and a fourth now on the way) so ten grand isn't easy to get my hands on, but neither is it going to make me lose my house if I lose it all.
I started out ok and made a few profits, made some money on the QBL pump and dump somehow, but it didn't take long for me to give that back and I steadily started going backwards. Nothing startling here I know, no research, jumping in and out of stocks all over the place and no plan other than to make money. Over about 6 months my money eroded away until I got down to my last $1500. I had finally realised that I had been gambling on a flip of a coin and I needed to stop myself while I took some time to learn about this whole share trading business. So, what to do...
In my wisdom I decided to park my $1500 in DUO. This was a shell and likely to take a month or so to announce an acquisition and all my favourite posters on HC were talking about it. Seemed a smart plan and relatively safe - with the added bonus that I could use that time to learn a bit more and I promised myself I wouldn't sell until after an acquisition. That was in November last year, my average buy in just under 1 cent - pre consolidation.
Well, most of you know the story from there, disaster after disaster until my $1500 became $150.
I haven't posted on HC in all that time as I had realised I didn't know anything and had nothing to offer. But I've continued to read regularly (I must admit I stopped looking at the DUO threads when things got ugly for a while there). I've read a couple of books and am trying to wrap my brain around TA, still only a work in progress. I believe that I now would be capable of being profitable as a ST trader, but also know my limitations better than before and so now I am just waiting for this acquisition to come along to see what comes of it.
For those that bought in recently at the low, congratulations and I believe you stand to make a good profit - the timing may now be perfect with the way shells are going off now. For those that have shared some of the pain of the last year with DUO, I sincerely hope you are able to regain some of the funds you've sunk into it.
I may not have my house riding on DUO's success, I don't even have what you could call a large sum of money on it, but I do have my hopes of establishing a hobby as a share trader on the line. We have a clean shell, cash and management who have proven they know how to seal a deal. Now it's almost time.....
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