SLR (ASX) Chart About to break upwards?

Originally posted by pezsaz ↑

Hey Flaming
I really liked your post. as you know I am a large holder. Maybe just in top 20 and purchased in Feb

And the answer is I actually struggle with the ups and downs. The worst is when you take a position and it goes down at the start. At least when it's up you feel easier to take money if you get the wobbles or fundamentals change. SLR went down for me before it went up!! Just reminded myself of fundamentals

With SLR, I was tempted to take the money at 60+c. And told a few of my friend that enterd into the stock with my recommendation that the fun starts now (as in a week ago). Anything that goes up 70% in a month will come back a little or hold flat, and suggested that taking profit as one option is a great outcome. That said, fundamentals haven't changed (both US macro and company) and if anything is much stronger.
Part of the answer is that I acknowledge upfront that 70% growth is not linear, that my sense is that it may come back to 50c, but that I still firmly believe that upto $1.20 by May next year is on the cards. So in summary;
1. I get emotional and wobbly (can't stop being human). The trick is to be steady straight after ...
2. Review the fundamentals
3. If it's still good, I look at opportunity cost of holding or moving, especially if growth was much quicker than anticipated. Where do I think it will land in 12 months
4. Then evaluate, if I take at 60c, do I have another stock that I think could get to $1.20 (equivalent or 100%) in 12 months
5. And is there some downside risk mitigation if I hold
to calm my nerves

Anyone that gets into small low margin gold stock or explorers has a an appetite to make money, so I'm not going to pull money out and have it sit there. If I have something better or fundamentals I will move straight away and feel ok for it

When I stuff it up and hindsight starts to kick me in the ribs, I put on my flanny shirt and thongs, buy a dram of the best neat bourbon, remind myself that life is good especially at its simplest, and that the market always gives you a second chance

Cheers
Pez

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@pezsaz

Thank you for your great words of wisdom.
I have copied your entire post to read later when I find myself wobbly.(which I will as a dog groomer)
I would suggest anyone and everyone to do the same.
Those are great tips. No books will have that kind of powerful content......
can only come from experience of putting money at work and mentally labouring around it.

Thank you....I just want to add one more thing if I may.....

The market gives many many chances......rarely now is the moment to act.
Wisdom is recognising that you can affect and that you can't, and submitting to that you can't.
Took me a long time to realise that.

I would like to meet you in person one day.