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28/06/16
20:57
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Originally posted by 1ForDaMoney
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Gold has been hot lately but there was some obvious profit taking today and you need to work out what if fairly priced, what has overrun and what is still undervalued.
What currency do they pay costs in. What country they are in ie jurisdictional risk ect.
Learn how to read a quarterly on the juniors. Look how much cash they have and their outgoings for the next quarter. If you get a few red flags move onto the next stock.
Understand what it takes to make an economic deposit.
Take notes on the quarterlies of upcoming works programs and when results are expected.
Don't be scared to ask questions on the stock threads, on some there are long termers that know all the ins and outs. Always check facts and figures for yourself thou. While HC is a wealth of information the onus is on you to to ensure what you find is fact.
Fomo will see you cleaned out quick smart, anticipating the action is far more profitable than being reactive.
It's a life long journey this. I like compounding my gains on some stocks to build a position and holding others long term, just depends on the catalysts and when the risk of holding outweighs the potential future return only then do I move on.
Some people might just trade 5 to ten stocks and know them inside out. Just trading the ups and downs. Some might trade the whole exchange all over the show. All depends on your goals, amount of time you have to commit, your area of expertise and your risk profile.
None of this post constitutes advice in any way, all ways check facts and figures for yourself and do your own thing.
Trust no one, question everything.
You will only get out what you put in.
Welcome and good luck.
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Yes i will definitely not be following blindly, i will definitly put lots of research into my plays to try and ensure as much profits as possible, i currently dont have a life chart program as i currently just use Commsec, is it a vital tool to have as a day trader or can i do without for the time being until i actually start to make some money, thanks for the help