AS mentioned in my original post, it was just an example of what is easier to achieve... obviously if we are taking it serious there are tax expenses etc etc, not to mention endless hours of study... and lets face it, are you going to put all your eggs in one basket?, say you get to $900,000, are you going put it all in one stock to gain 10%, are you even going to put in $500,000 to gain a 100% trade of $1,000,000? ... I was simply offering a comparison of what is more achievable, less greedy and extremely doable..
for the record, Ive been doing this along time... this may be hard to believe, but in the last 12 months of trading I haven't even made a loss... I believe my strategies are very strong at present... I never ever use stop losses, as I never walk away from my screens when the ASX is live... Stops get triggered all the time via manipulation to create a sell down and strong accumulation... dont get me wrong, if there is something genuine to create a sell down, bad announcement for eg, then one should make a decision to let go... I tendency to average down a lot, it is dangerous, but I use big dollars to achieve a closer average so I can exit as soon as a floor is in place, once support is evident I do the math to work out how I can get out... not for the faint of heart... works for me... I dont stay in stocks for long... I have only 1 in my portfolio that I have held for over 3 years, I got caught out there with a 6 figure investment, recently its bounced back and is getting closer to my entry... waffling on here, sorry...
back to GSM... I expected today profit taking, I am looking for entry here at present... volumes have subsided today..here is a basic chart for those interest with some basic TA from my point of view... all the best to holders, still looks strong IMO... Just understadn todays trading is not evident on my chart as the day has not ended.. its only fair to use the data that has already been locked in... enjoy:
View attachment 2368010Correction Within an Uptrend
GSM appears to be correcting within a longer-term bullish trend. Although its MACD is was below the signal line recently, shares remain 1.8% above an upwards sloping 200-day moving average. Comparative Relative Strength analysis shows that the stock is outperforming both the S&P/ASX 200 and the Materials sector average.
Strong Bullish Momentum
Momentum for GSM is strongly bullish. The 14-period Slow Stochastic Oscillator is rising, as investors pay higher prices for shares. Perfect formation also of strong consolidation as shown above..
Above Average Volume
Yesterdays's volume was heavier than usual. The On Balance Volume indicator (OBV) is bullish. The slope of the indicator is positive and suggests that buyers were presently more active than sellers. (yesterday)
Recent High Volatility Signals Potential Pause in Trend
Bollinger Bands use standard deviation of the closing price around a moving average to measure volatility. The Bollinger Bands are presently wider than usual, as a result of greater than normal volatility that accompanied the recent price move. Events such as this may precede a pause or reversal in the near term trend. Hence today's trading is more in stagnant mode so far... slight pull back expected...
My over all view is that signals indicate a strong buy... when looking at the current volumes etc, it would seem many having taken strong positions with a strong implication that the current drilling results will be very positive... Either that or many of got caught out with the bullish momentum of the TA...
I for one would love entry, personally I think I missed it in the mid 30's to be safe... current entry is not without its risks... Still bullish IMO...
(if any one likes the information I provide, please click "follow" in my avatar.. more than happy to offer insight on other stocks..)
Stay cool holders, strong hold thats for sure...
(20min delay)