Posted By: chamonix I'm very intrigued from what I can gather you also trade the 300 as well using a market maker with CFD'S. Do you trade full time ???????
If that is the case I hope you don't mind me asking if you say you are TRADING this stock with today's purchase totalling 129 k with the possibility of purchasing more if this retraces further.
1) What was your entry signal & what will be your exit signal based on the fact you have a considerable position in 1 stock atm with more to add ?
2) What is your position sizing criteria before we continue further ?
Hi chamonix. Yes I trade full time and have done so for a long time. I only use cfd's to go short on stocks, my long positions are via equities via the ASX. In Feb and March this year I took a large position (for me) in BLR at an average entry price of 18c with the intent of treating BLR as a growth stock. I sold out of that position during this month. I no longer hold the view that this is a growth stock for a variety of reasons, so my reentry is one based soly on trading out when the opportunity arises. I have never been good at picking a trading bottom so I allocate funds before I enter to average down if I have to, which is what I have done with this stock yesterday. That way of trading has worked for me over the years when I enter a stock to trade it. If it was my intention to hold long term I would'nt worry about the day to day ups and downs. My signal to renter was based on watching this stock for a long time and hopefully understanding its trading pattern. IMO it was being oversold yesterday and may go a little lower today. with residual selling, if so I'm there again if not I'll stick with what I have. By the way in comparison to some posters I do not have a large position, some have in excess of 1million shares. I have funds allocated for spec stocks and it is normally spread over 3 or 4 of them, at the moment I have BLR WMT and GGY. Non of this is trading advice, it works for me... so please dont take what I say as anything more than my opinion which has and will again been wrong on many occasions. cheers CFDsRus
BLR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
