can vouch for the making mistakes part made plenty still making...

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28/11/22

10:23

Post #: 65020732
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Originally posted by Endless: ↑

Morning all.

Jeez I shouldn't promise to post stuff. I always get dragged off on some mission at the drop of a hat.

Re. Someone posted about not making $$$s cos they had a large portfolio of non performing stocks. I said I would make some comments. I'm not the greatest trader but I have been around the block and made ALL the mistakes a few times.

So briefly. Most new traders think the only thing you need to do is pick winners, and they focus on trying to find any stock that they think might go up. That only works if you a right. But also if you trade enough to make some $$$s you will eventually get it wrong. So having a portfolio of stocks that you just sit and watch cos of a variety of good and bad reasons is not a good strategy. Also, the constant monitoring and anxiety will wear you out. imo

You actually have three factors that you can control. Stock selection. Level of risk. How you can stake your trade.

Professionals worry mostly about reducing risk, not having a swag of runners in the race. They will concentrate on just one sector and research/analyse the bejeezus out of a couple of stocks. When they see an opportunity cos risk is very low or nil, they will put big $$$s on that and look for a small % return but for a good amount of $$$s. Small wins and compounding returns on your capital and investment $$$s add up quickly.

Traders should not worry about trying to guess what will happen with a particular stock (BPH anyone?) but just look for set-ups, news, stuff that suits your strategy etc. So that (based on your experience and win record) it tells you that the risk is low. If you have a consistent win record you can increase your bets without losing original capital and make larger gains.

If your strategy isn't working then you will know soon enough. It won't creep up on you like a slowly dwindling portfolio of dog stocks.

Not advice. Just imo.

Happy Trades

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can vouch for the making mistakes part made plenty still making them i hate to say onwards and upwards i hope
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First 27 Last

can vouch for the making mistakes part made plenty still making...

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

Microcap Wrap: 5 explorers with news out today

Silver Mines models five new calderas close to 396Moz Bowdens deposit

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ChemX Materials kicks off first stage works at WA high purity alumina pilot

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Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

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can vouch for the making mistakes part made plenty still making...

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ChemX Materials kicks off first stage works at WA high purity alumina pilot

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