A cautionary tale...

I have a confession to make...I have attempted to trade the living daylights out of CYP...to date I have failed miserably
Here is a brief summary of this tale of woe:
19/2 - initial purchase @ 0.745
20/2 - sold @ 1.025
Happy days!!
Anticipated the T+3 selling on Friday and Monday so went looking for other opportunities on the ASX casino - this was a sobering and expensive lesson :-(
25/2 - another purchase of CYP @ 1.00 (got these on the retrace from 1.12)
26/2 - panic sell at 1.04 when it looked like she was reversing just after open - watched her rocket up to 1.34 intraday :-(
26/2 - another purchase at 1.23 when profit taking took hold late this arvo - in the black with a close at 1.29

The entries into the stock are not the issue - I have left so much on the table by trying to predict the direction of CYP intraday and fluffed it every single time - the buy/sell depth means absolutely nothing with this stock - I strongly believe that a large proportion of the action is off-screen as someone is accumulating stealthily and doesn't want to give the game away!!

The moral of the story is don't ever try and trade yourself into a better position on stocks like these - simply buy and hold!! I could have even weathered the big drop down to 76 cents and still been more than 40% up on my current position had I just sat back and done nothing - please don't make the same mistake I did guys and try to outsmart the market - it will cost you big time and you may even find yourself locked out when that big announcement we are all expecting is dropped!

Potgut piqued my interest yesterday when he mentioned that a big insto is accumulating a large stake in CYP - these guys don't play for pips and the big buying today was probably not retail - they will want this much higher before they even begin thinking of cashing their chips in!!

Anyways enough of my rambling - more than happy to be on board at 1.23 today and looking forward to smashing past 1.50 tomorrow!!