4.6 ? what next up or down? , page-39

Soul,
I read your other post this morning....mate, hang in there, it will come good. I'm kinda on the same path as you from a FA vs TA perspective. The FA path on speccies has cost me $75k over the past 3yrs....

Up until a year ago I did not bother trading; simply buy and hold based on "the end". My first positions in PEN were in July 2011 at 8c....I took a bath!

PEN is the same in some ways as your other holding - a very large % is held/traded by the big players. They will:
- trade in and out as the global market sentiments swing.
- trade in and out as the PEN news flows.
- manipulate the pricing as far as they can to their own benefit.

We've got two choices; buy and put them in the bottom drawer, or alternatively make sure we're trading the momentum on the same side of the fence as the play makers.

I elected to start paying attention to what the big end of town were doing and align rather than compete; to school myself in TA methods, and to pay more attention.
Since then things have turned around (a lot). I'll play 3-5% moves on probabilities, and sometimes they become 5-10% moves....it starts adding up quickly.

With what I believe is still to come in the next year I will have recovered the pile I burnt in the preceding 3yrs, and if it goes where I expect it to beyond that, well then I'm going to be sorted.

If we were risk averse then we would not be here to begin with, but when the SP tanks I get off the ship, and when it resumes play I get back on. I takes effort and attention, but this way we rebuild rather than live in hope touting all the FA stuff you've heard before.

There's light at the end of the tunnel mate, keep at it. You're clearly a conscientious investor who makes the effort and pays attention and it will pay dividends in due course.

I also really appreciate your TA contributions; please keep them up.