OT
That is such a comprehensive answer thanks for taking so much time, it really helps. You seem to be doing really quite well with some disciplines you try to follow, and I am wondering how long you have been really actively trading?
I have held onto losses naively believing they will come back up too, that is the killer, entering too late and selling too early or too late. I really need to lose my FOMO and focus on the TA.
I have made some good money on a few, and I was too greedy with TEM, and shoulda, coulda (famous words I need to discard) sold for 0.19 or 21 - then it dropped rapidly almost overnight to 0.12 c that was a nasty loss.
I decided to trade because my FA has always been good, LTH- of LTR, AGY, CXO, ASN, PUR, AVL, WML QPM, plus so many more. Having watched the likes of CXO, as an example in the first 5 months of 2021 the SP would swing from just sub 0.2 to mid 30's for 6 months. I saw the opportunities to hopefully take advantage of market swings, CXO had a definite repeated pattern until it really broke out. That is what piqued my interest.
So, I have swapped my time on FA research to learn this. All of my old holds have done very well. But my impatience got the better of me. I have committed to this path now.
My situation through a set of several unfortunate experiences is, that I lost my family home in an expensive suburb, and now I live in a public housing commission flat.
At 60, I feel a sense of understandable urgency. I am also still studying at UNI to return to my previous profession. Tick, Tock. I am very tired really, trying so hard to improve my life.
I see what you mean about the spread, this I need to pay more attention to and I also should use IRESS more effectively, and reliably check the XJO at the beginning of the day and intraday, I check the overnight markets each morning, but I only have a basic understanding of how much the percentages influence our markets.
I have a chart setup that I am happy with for now, but I have lost some confidence. This is not a recommendation, I am using the Parabolic SAR trading strategy on TView, with buy and sell signals and its accuracy is really amazing in multiple time frames. The signals are right there in front of me, and I still hesitate.
I am not at a loss with charts at all, but obviously a newbie, I tend to overthink and have paralysis by analysis.
A LTH I have stupidly stuck with despite the SP dropping 30% on a day (when I was at work) is still low. Instead of cutting my losses and freeing up capital, I have hung in despite logically knowing selling is the best thing to do.
I need to have some firm strategies, am thinking I should average my entry into a stock that is moving up and spreading my risk, same with exits. In part, along the lines of the Martingale strategy.
Many thanks for sharing, and if anyone else can give me some tips I would greatly appreciate it.
