Totally agree that on the whole only longs make money. Been here since 2011 and lost heaps on paper before making a buck. Bought in at 0.77c preconsolidation. Watched it go down to nothing forget the low but it was under 10c. Looked away for two years, then it got back to 20c started buying again and rarely sold a share since, definitely life changing.
I have tried the day trade thing a few times and give up now. Tried Monday morning after LTHM went up 6% last Friday, LTHM up, lithium spot up, Dow up (Friday), US debt ceiling sorted. Got in at open $15.10 for it to fall waited until about 3pm the next day. Buy side was $15.09, sold ”on market” got $15.08, my 1000 was the only sold at $15.08, even though there were still 6000 odd on buy side at $15.09. The price rocketed the second after I sold. Could be bad luck, but I got the feeeling that the bastards know exactly how many amateur retail day traders are left. I think most got out at a lose before I did.
Funny how I have followed this since 2011 (can just about name every player (GXY) on HC in that time) and old mate Akgo got in at 0.4c in the Iggy days, never heard of him, he admits to being under when we were at $12 a few months back but has been able to buy houses etc. from (GXY/AKE) profits. Some things don’t add up. Sorry for being the negative Nelly again, but keep it real.
Not sure why I am pr!ck on this issue. Everyone has an opinion some right some wrong doesn’t matter as long as it’s fair dinkum.
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