Hi Vip. I'm not a great DTer by any means but I have been in this game a long time. I still make plenty of mistakes and having the right personality/brain type etc is something you can't change. My big problem is being a bit too contrarian so I tend to go off stocks if everybody else gets on to them. The penny has slowly dropped from being on this forum that one of the main things to watch is volume, so obviously you have to go with the crowd, espc DT and ST trading.
However, I'll make one suggestion. Maybe you are following others tips a bit too much without doing a bit of groundwork. In the case of PEN. I traded that around the 3c mark. I just do very basic charting using the Comsec charts. Looking at the 5 yr for PEN I can see that the 5-6c level has a few resists. I would never have gone in hard at 6c cause there was always a good chance it would take a breather there. Also, the anncs are not that epic, they are not def money makers in ST, only add to the picture in the long term when the co is in production. So I didn't think that there was a good reason for the SP to keep going. Another reason I would have stopped b4 6c. Also big sellers came out at 6c.
If a co annc a massive gold strike or gets funding that will allow the co to start a project etc that means there is a reason for the punters to get excited. Usually on the specific threads you will find some good comments on just how significant anncs really are. DYOR and try and get a feel for this. I always thought the RCP annc were a bit overblown and had too much hype. EXM and BCN also create a lot of noise without really having a good basis for the co actually making money.
Gotta go now. I guess what I'm saying is that the past few months have been a dream run. Don't worry about complicated trading systems. If you only have a small bank get the basics right. Get to know the stocks, learn to understand the anncs, learn about basic charting and don't depend on others. Always stop loss on any DT or ST trade.
