Thanks for the reply and the honesty!! My question comes after 12 years mostly full-time trading and investing (after a 30 year career in science) and a number of experiences good and bad with junior explorers. I have done OK overall but my biggest mistake in that time was to hang on for a life-changing drilling event when in reality I already had a smaller but still life-changing profit in the stock (HDR). I lost ALL the profit (over $500k) made over several years with HDR when the second well drilled by Woodside offshore Mauritania was a duster. I can't tell you how many times I have wondered why $500k wasn't ENOUGH and wished I had taken it. What was life-changing after this experience was the realisation that taking profit and de-risking it (taking it out of the market) is THE only way to make a living long-term in this game.
I am risking a way smaller amount in this play as I can't afford to lose more and I wasn't able to get in early enough to achieve any free-carry. Lower risk lower reward but I sleep at night!
Cheers
H
TPT Price at posting:
25.2¢ Sentiment: Buy Disclosure: Held
