Short Term Trading Week Starting: 29 Nov

Originally posted by rick64: ↑

Hi @golden6
I had not seen it before either. I took it to mean that if you sell your shares in order to buy them back cheaper in the SPP, then they would take this into account when distributing the new shares.
Just read your opinion on stop losses. Everything I have read in the books recommends the use of stop losses at all times as part of risk management . Unfortunately my latest parcel of LTR got hit at 1.70 and I ended up buying back at 1.84, severely affecting my overall average. That parcel was bought at 1.90 just a couple of days beforehand and it has cost me over a grand in profit. Although small bikkies to you guys am pretty gutted over it and am angry with myself for playing it all wrong. Now with LTR I find it hard to imagine that the price would drop below 1.65 at any time in the future so am not using a stop here as my average is still below that level. I do have some cash so may take the opportunity to top up if it does drop.
I have been stuck in PSL and MAG for up to years due to my prior lack of stop losses and that is the reason I began using them this year. Am thinking that maybe the authors of these books are concentrating more on the larger caps rather than the specs. There is also the fact that specs run on news and it is nothing for a stock to drop 50% overnight in which case a stop loss would be useless.

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Hi Rick
Was thinking about you the other day when the bots were having a field day on LTR- took it down, then brought it up and was hoping your stop loss wasn't hit. A thousand dollars is big bickies in my world. Last week or so, and especially today the bots were having a field day on MI6, and if I'd had a stop loss in place it most certainly would have been hit. DR- who discovered the lithium deposit for LTR, didn't decide to head up another of DG's company to go down with a sinking ship. They had already done some drilling and have a very fair idea whats there. They have got enough funds for approx 2 years of exploration work. Have a look at the major shareholders and just how much skin they have in the game. So having said all that- my point is I trust the management to deliver and I like their groud so the bots and whoever wants to play their silly games, they are not getting any of mine. If I'm wrong, I'll wear the consequences.
LTR- that CR is an absolute game changer- so much to look forward to. I've been selling most of my other holdings and put the money into LTR & MI6. Have only got another 3 shares which I can sell, and will do so to get as many LTR's as I can get my hands on. FMG certainly isn't one of them.
Yes I was day trading when I started out, absolutely glued to the screen, and then spent hours researching the FA of various stocks and anything above my very basic living requirements would invest in them. Sold everything to buy the house, took a year off completely as was a nervous wreck after that marathon. I'm sure that many do it year in, year out, but I knew absolutely nothing about shares when I started out. A really rude awakening just how manipulated the market really is.
That stock which I refeered to was LOM, many years ago now. A very valuable lesson learnt by me. I'm really glad it was at the beginning of my learning curve.
If I find a great company at whatever price and I like and trust the management I hold on to them, and let them mature. I've made more money by holding then by selling. Got no idea what on earth I'm going to do when the time comes to finance my trip. I'll think of something when the time comes.
I'm glad its Friday tomorrow, its been a hell of a few weeks on the markets with AGM's, announcements, CR'S etc.
Think really seriously about what it is that you want to achieve and the best way to really go about it.
Take care.