Day Trader’s Aftermarket Lounge 16 July 2020

Originally posted by Endless ↑

KRM. I guess if you want to be a mad/keen speculator then you could take some encouragement from your research. But imo you are just looking too hard to find stuff to like about the stock. i just think this is the wrong way to go about making $$$$s.

One problem is you will be one of the few who are interested in it. You need the market to get behind a stock for the SP to run up.And why not follow a stock that has already got some real runs on the board. Chances of you finding something that even insiders are not buying is slim.

Peeps always think the way to make money from stocks is to find one no-one else knows about. Not imo. Find the stock with the lowest risk of going up and then put money nto that.

The secret is not what you trade its how you trade. A stock comes along every day that makes good gains. You don’t have to search for them. The main skill is working out how much margin there is in them and then getting as much of that as poss without stretching the risk factor.

Never forget. Stocks don’t love you back.

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Alright Endless. You've come back with some solid advice after I advised you to present tounge action to my bollocks region, so hats off, you could have put me on ignore... But you tried to kill me with kindness instead.. which I respect. And my apologies for being crude.

It is obvious I made a mistake, I've lost money, but not so obvious as to why... I mean you make a good point about trading something with a good story and in this case your maybe right in terms of trading a positively geared story that wants to go higher. Say right now a PDI or perhaps a REE as examples. (With my confidence a bit rocked I'm not entirely sure)

I've picked some good stocks based on cash backing over my time. I bought and sold RMS from 13 cents, ALK from 20 cents, CHN from 8 cents- sold @ 40 cents before the run unfortunately. ERX was cash backed at one time and I made some coin there also. But now that I think about it those stocks did stay at those levels for really prolonged periods.

ALK was classic. I was banging on about that for an age and everyone was saying it's a dog, if it barks its because its a dog- that's why investors attribute zero value to it's assets. And this is why your called PovertyBoy, because your a pooch rooter PovertyBoy, and if you keep rooting pooches your wife will leave you, because it's not healthy to be a pooch rooter and you should really desist from that sort of behaviour etc etc etc.

So probably I want to trade short term. I find the process of buying and then picking up more parcels as I go works for me.. as the price catalysts begin to crystallize. DGR would be one, I jumped on way to early but topping up now as that starts to get closer to an inevitable rerate.

So back to the parcels, first parcel I generally don't pay a load of tax on because I hold it for over a year, the second parcel I am trying to decide do I keep holding for tax reasons and the third, fourth, fifth I'm in and out usually by using like an RSI and my own gut feel/sense of F/A. So its these third fourth fifth parcels that I really want tidy up on..

So advice is always appreciated.. Perhaps trying to trade both short term/ medium term/day trade all at the same time is a mistake.

Yesterday I ballsed up LCL also. Bought as a trade but have an attachment there it seems.. But on a positive note I'm holding IPT, AQD - which not many were talking about, AQX, TLM, AZY, amongst others so I'm not doing too bad..

Ah you root the odd pooch..