Hi guys, just looking for a little guidance.
I bought KGN in two parcels, one at 3.13 on 5/12 and one on6/12 on the indicators pointing upwards. So, my average is 3.22.
I think my first mistake was buying the second parcel sohigh, when I could have bought lower by showing a little patience.
@valvesound brought the crossover of MA’s to my attention onanother code and it looks like it applies to KGN. It appears the crossoverhappened at approx. 1.40pm last Friday. I guess this was the proper time to buyin. I was already in, but I bought waytoo early. The trouble I am finding with indicators is that they appear to showdifferently in different time frames.
I have tried playing the speccies for ages, but I don’tthink I am cut out for it. Things just move way too fast for me. I seem to dobetter with the mid-caps where things move a little slower. I have a limitedamount to play the markets, that is why I was trying so hard to make as much aspossible in as short as time as possible. But I am kidding myself, I am justgiving it away.
The problem is, every time I decide to not buy any more,something comes up that needs to be bought NOW. It is flying, posters on HCspruiking, indicators positive. So, there is no time to do DD, or I am liableto miss the run. What invariably happens though, is that I buy, and the runstops immediately, and the stock starts to reverse. This happened to me lastweek with DNA. Bought in at 7.2, it went up slightly, then got massivelydumped. I ignored my S/L, and just watched it tank so much that the next thingI know, I am down nearly 50%. This is the thing that I am trying to avoid.
On the opposite side of the coin, I bought RHT at 6, sold at9.1 8 days later for a fantastic 50% profit. Trouble was I bought more the dayI sold for 8.9 and was stopped out at 8.5 therefore giving some of my winningsback to them in a small space of time.
If someone would be so kind as to explain where I am goingwrong. I guess all you pro day traders love chumps like me as we are probablyyour bread and butter, but I just cannot go on like this.
Also in my commsec charts, I cannot fathom the differencebetween solid green/red and hollow green/red candles, if anyone could assistwith this.
Attached Chart
