Buying low selling high is not an absolute. It is relative and most often depends on one's investment strateg. In my view and experience buying early is not damaging at all, it is merely disheartening. It reflects the known unknown that one can never be aware of a SP bottom until after it has happened.
FWIW, many investors and I will include myself, have strategies in terms of their preferred overall investment in a stock and the timing of both entry and exit points. Ideally, these are fluid as one cannot possibly predict future market movements.
I have experienced on other threads, posters who like to throw tomatoes tried (very unsuccessfully) to track my trades to estimate my positions. They over-estimate their skills and under-estimate mine as They were nowhere near the mark, as my buy in strategy is far from linear and quite nuanced to my confidence in an outcome, having already done my own due diligence.
I know I will ALWAYS be too early and I account for that via small positions leaving room for larger buys either at lower prices or or higher if the bottom is in. I also know I will always sell too soon as I can rarely resist taking profits when they come. Hence, my investment approach is designed to work exclusively to account for my investment behaviour.
Put simply, I don't buy the same stock quantities as the price goes either up or down and I do sell stock when there is a 15% bounce, although in the case of JRV, I called it wrongly, somewhere in the 30's. To my absolute loss, and another painful learning. I got too greedy and complacent and paid the price of making a poor choice. This will not be the last time that happens.
Turning to JRV my current average cost over the last 4 months is now below 23c. (Having sold earlier in 2022 at prices considerably over twice this). The current SP is around 16c. This result takes a lot of work, a lot of money and a lot of what some may see as
risk (though I don't invest thinking in those terms).
I don't see myself very far away at all from break even and if we get to 14c or less, i will absolutely continue to adopt my self styled investment approach. As for buying low, believe me I am and in large quantities, I don't need to be told I started too soon, but all should be aware, I am not even close to being buying finished yet. And loving it!
As I have said many times, my strategy outlines are
NOT ADVICE they are illustrations of methodologies that show how serious money can be made (and sometimes lost). I share this on a public forum so everyone, including yourself, can challenge my strategy, broadly knowing whether I am under water or multi bagging. This helps me test my conviction on a business.
Posters here do not care at all whether I make money or not. Nor should they. I expect it may be 6,12,or 24 months before anyone knows where JRV will end up and only then should today's buyers be judged.
By then, only the true believers or persistent naysayers will still read anything written in March, 2023. Today's buyers will have either made a handsome profit OR have been totally pantsed. This remains "public" to the extent that a forum is public.
My most fundamental view and thesis on JRV is that cobalt, nickel and other green metals will not easily be made redundant by economic cycles, trade wars or Elon Musk's announcments. Widescale, capital intensive investments in existing technologies are not swept away by untested, uncommercial new technologies. By this measure, JRV is well placed to survive the current commodity price downturn and profits from the price recovery. Many of its smaller would be competitors will be out of business by then. There is a reason most commodity markets are dominated by oligopolies.
You
@mondyinvest and anyone else remain free to challenge, ridicule or applaud my style and my errors, as you may perceive them from a limited lens. It will neither excite or upset me. My thrill and fear comes from playing the game and backing my judgement and my timeline. If I should lose a Melbourne townhouse of value on JRV, so be it. By the same token, making one will not alter my life in the least or anyone else's.
I don't believe many investors get lucky. I do believe most successful investors create the circumstances that increase their odds of making money. I have no idea how to use a computer or phone to gamble on a horse, or dog or football game nor can I influence the odds. That is the market place where luck is to be found and I am quite happily absent.
GLTASH
(20min delay)